Markets trade lower after firm start, fresh foreign fund outflows dent sentiment
Fresh foreign fund outflows also dented investors' sentiment as they preferred staying on the sidelines.
The 30-share BSE Sensex climbed 119.05 points to 82,753.53 in opening trade.
The 50-share NSE Nifty went up by 18.7 points to 25,230.75.However, later the BSE benchmark quoted 71.51 points lower at 82,554.47, and the Nifty traded 30.30 points down at 25,182.55.
From the Sensex firms, Sun Pharma, Tata Motors, Kotak Mahindra Bank, Trent, NTPC and Bharat Electronics were among the gainers.
However, Tech Mahindra declined over 1 per cent after its June quarter earnings failed to cheer investors.
IT services firm Tech Mahindra reported a nearly 34 per cent year-on-year increase in consolidated net profit to Rs 1,140.
6 crore for the quarter ending June 30, 2025, on the back of growth in communications and financial services verticals.
ICICI Bank, Eternal, State Bank of India and Asian Paints were also among the laggards.
"There are no triggers for the market to break out of the consolidation range in which it has been stuck for two months now.
Even an India-US interim trade deal has been discounted by the market, leaving no scope for a sharp rally decisively breaking the range.
One positive and surprise factor that can trigger a rally is a tariff rate much below 20 per cent, say 15 per cent, which the market has not discounted.
So, watch out for developments on the trade and tariff front," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
Results of the IT sector continue to disappoint and, therefore, this can remain a drag on the overall market, he added.
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