Last Updated on July 7, 2026 7:02 pm by BIZNAMA NEWS
Profit-booking and weak international sentiment weigh on indices; IT and FMCG offer pockets of resilience
By Our Business Correspondent
Indian benchmark indices retreated on Tuesday, snapping a four-day winning streak as investors resorted to profit-booking in response to cautious global sentiment. Both the S&P BSE Sensex and the Nifty 50 recorded a marginal decline of 0.13%, closing at 78,180.72 and 24,398.70, respectively.
Despite the recent rally—which saw the Sensex and Nifty gain over 2.3% in the preceding four sessions—selling pressure in the metal and realty sectors exerted downward pressure on the market. Conversely, the IT, consumer durables, and FMCG segments defied the broader trend, providing some stability to the indices.
Market breadth remained negative, with 2,084 stocks declining against 1,191 advances on the National Stock Exchange (NSE). The broader market underperformed the frontline indices, as the BSE 150 MidCap Index shed 0.18% and the BSE 250 SmallCap Index fell by 0.76%. On a positive note, the India VIX, a gauge of market volatility, eased by 1.43% to 11.65, suggesting a tempered outlook for near-term turbulence.
Sectoral Highlights and Stock Movements
- Trent witnessed a sharp correction of 12.64% after Q1 revenue growth failed to meet market expectations.
- Info Edge India surged 12.95% on the back of strong standalone billings, while Swiggy gained 7.17% following its milestone achievement of domestic ownership exceeding 50%.
- Titan Company rose 2.38% after reporting a 41% year-on-year growth in its consumer business.
- P N Gadgil Jewellers saw a decline of 2.20% despite reporting a 41% revenue growth, likely due to investor caution following the recent run-up in the stock.
Macroeconomic and Global Context
Global markets remained subdued as investors awaited the release of the U.S. Federal Reserve’s FOMC meeting minutes, looking for cues regarding the future trajectory of interest rates. While European markets showed marginal gains, Asian indices largely finished in the red.
In the currency and debt markets, the Indian rupee gained ground against the U.S. dollar, hovering near 94.95. Meanwhile, the yield on India’s 10-year benchmark bond rose slightly to 6.703%. Commodity markets saw Brent crude prices climb by 1.13% to $72.80 per barrel, while MCX Gold futures saw a retracement of 1.02%.
Disclaimer: The information provided in this report is for informational purposes only and does not constitute financial advice. Investors are advised to consult with professional financial advisors before making investment decisions.