The Indian stock market saw a tepid session on Monday, with benchmark indices Sensex and Nifty barely budging from their previous close. A mix of caution, weak global cues, and foreign fund outflows kept the market in a tight range throughout the day. Investors remained on edge ahead of the July 9 deadline for US tariff announcements, which could impact trade relations between India and the US.
The 30-share BSE Sensex inched up just 9.61 points, or 0.01 percent, to close at 83,442.50. The index swung between a high of 83,516.82 and a low of 83,262.23, reflecting the uncertainty among traders. Meanwhile, the NSE Nifty 50 ended flat at 25,461.30, with 22 of its constituents advancing and 28 declining.
Sectoral performance was mixed. FMCG and oil stocks managed to stay in the green, supporting the indices, but IT and metal shares dragged the market down. The BSE FMCG index jumped 1.50 percent, while the telecommunication sector slumped 1.24 percent. The broader market also showed weakness, with the BSE smallcap index slipping 0.33 percent and the midcap index down 0.15 percent.
Analysts pointed out that the market lacked direction as traders hesitated to take fresh positions ahead of key developments. “The Nifty opened at 25,450 and moved within a narrow range, reflecting investor reluctance due to upcoming US tariff decisions,” said Sundar Kewat, Technical and Derivatives Analyst at Ashika Institutional Equity. Market participants preferred to wait for clarity before making any big moves.
Top gainers in the Sensex included Hindustan Unilever, Kotak Mahindra Bank, Reliance Industries, and Asian Paints. On the flip side, Bharat Electronics Ltd, Tech Mahindra, and UltraTech Cement were among the major laggards. Foreign institutional investors continued their selling spree, offloading equities worth Rs 760.11 crore on Friday, adding further pressure.
With the earnings season around the corner and global trade uncertainties lingering, markets could remain range-bound in the near term. As Ajit Mishra of Religare Broking noted, “The market is in consolidation mode, waiting for fresh triggers like earnings announcements and US-India trade updates.” Until then, expect sideways movement and cautious trading.