Indian equity markets end with modest gains after a subdued session
The Nifty Midcap100 closed flat, while the Smallcap100 fell 0.10%. Sectoral performance varied—PSU banks, metals, oil & gas, consumer durables, healthcare, and pharma showed gains, while autos, IT, energy, FMCG, media, and real estate lagged.
Market participation was balanced, with 1,491 stocks rising and 1,452 declining on the NSE; 77 stocks were unchanged. Notably, 96 stocks hit 52-week highs and 24 hit lows. Upper circuit triggers were hit by 119 stocks, while 43 stocks hit lower circuit limits. The total market cap of NSE-listed companies stood at Rs. 5.36 trillion. Volatility eased, as the India VIX dropped 2.01% to 12.5.
The focus remains on ongoing trade negotiations with the US. Financial Times reports that India may finalise an interim trade deal this week, aiming to avoid the 26% tariff imposed on reciprocal US goods after July 9. That came after earlier roadblocks over agriculture, steel, and auto tariffs.
Markets are also tracking US signals—White House says the July 9 tariff deadline isn't fixed and may be extended. Reuters notes that bilateral talks with partners including India are ongoing, with only the UK deal finalised so far.
Investor sentiment is cautiously optimistic, expecting a 'mini-deal' or interim agreement. President Trump hinted a "big deal" could open India's markets . However, detailed issues like agriculture and industrial concessions remain unresolved.
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