Indian Markets Stumble as Global Trade Jitters and Earnings Season Weigh

Image Source: Craiyon

Indian Market Pulse at Midday

Indian equity markets faced renewed selling pressure by midday on July 10, with benchmark indices extending their losing streak as global trade tensions and caution ahead of major earnings releases kept investors on edge.

Key Highlights

The Sensex dropped over 350 points to hover near 83,183, while the Nifty 50 slipped 112 points to 25,363 around 12:07 pm IST.
Weakness was broad-based, with IT, auto, and pharma sectors leading declines. The Nifty Midcap 100 and Smallcap indices also traded in the red, reflecting risk aversion beyond blue chips.
Market breadth was negative, with more stocks declining than advancing.
The focus remained on Tata Consultancy Services (TCS), which is set to kick off the Q1 FY26 earnings season later today.

Sector and Stock Movements

IT stocks were among the worst performers, pressured by global tech weakness and anticipation of TCS’s quarterly results.
Auto and pharma stocks also saw sharp declines, dragging the indices lower.
Financials and private banks showed some resilience, with select buying limiting downside in the Nifty Bank index.
Realty and media sectors underperformed, while energy and select FMCG counters provided limited support.
Stocks such as Voltas, Samvardhana Motherson, and JK Tyre were recommended as potential outperformers by market analysts, with expectations of technical breakouts or strong business momentum.
In the broader market, GAIL and Oil India were in focus after extending their natural gas supply agreement, while RailTel and Emcure Pharma attracted attention due to contract wins and regulatory news.

Market Sentiment and Technicals

The mood was cautious ahead of the weekly expiry of Nifty options and the awaited TCS results.
Experts noted that a decisive move above 25,550 on the Nifty could open the path to 25,700–25,800, while a breach below 25,300 could trigger further downside.
Institutional flows remained supportive, with both foreign and domestic investors net buyers in recent sessions, but global cues and macro uncertainty capped upside potential.

Global Market Snapshot

US markets closed higher overnight, with the Nasdaq up nearly 1 percent and the Dow Jones gaining 0.5 percent, but Asian markets were mixed.
The Nikkei 225 in Japan dropped 0.6 percent, and Hong Kong’s Hang Seng slipped 0.1 percent amid lingering trade worries.
European markets opened with modest gains, but volatility persisted as investors awaited clarity on US tariff policy and ongoing trade negotiations.
Currency markets saw the US dollar strengthen, while oil prices remained volatile on supply and demand concerns.

Sources: Moneycontrol, The Hindu Business Line, Financial Express, Times of India, CNBC, Economic Times