The Indian stock market ended with significant losses on Friday, July 11, as the intensifying trade war between the US and its trading partners and a weak start to the Q1 results season dealt a blow to the already fragile market.
The Sensex ended with a loss of 690 points, or 0.83 per cent, at 82,500.47, while the Nifty 50 settled 205 points, or 0.81 per cent, lower at 25,149.85.
The across-the-board selloff made investors poorer by over ₹3 lakh crore in a single session, as the cumulative market capitalisation of BSE-listed firms dropped to nearly ₹456.6 lakh crore from ₹460 lakh crore in the previous session.
Indian stock market: 10 key highlights from the day
1. Why did the Sensex, Nifty 50 fall?
Domestic market benchmarks suffered losses for the third consecutive session after Trump escalated his tariff war by announcing 35 per cent tariffs on goods imported from Canada starting August 1.
Meanwhile, according to media reports, India has revised its retaliatory duties under the WTO norms against the US after Trump hiked tariffs on steel and aluminium.
A weak start to the Q2 results season also weighed on sentiment. On July 10, TCS reported June-quarter earnings that missed Street expectations.
“The domestic market experienced a negative close due to a sober start to Q1 earnings season and a ramp-up in the tariff threat by the US to impose a 35 per cent tariff on Canada,” Vinod Nair, Head of Research, Geojit Investments Limited, observed.
“Investors may continue to be focused on quarterly earnings for a buy-on-dips strategy; however, in the near term, the current premium valuation and the global headwinds like low spending and tariff uncertainties may restrain new inflows,” Nair added.
2. Top gainers in the Nifty 50 index
Only 11 stocks managed to end higher in the Nifty index, among which Hindustan Unilever (up 4.63 per cent), SBI Life Insurance Company (up 1.37 per cent) and Sun Pharmaceutical Industries (up 0.71 per cent) closed as the top gainers.
3. Top losers in the Nifty 50 index
As many as 39 stocks ended in the red in the Nifty 50 index.
TCS (down 3.47 per cent), Mahindra & Mahindra (down 2.92 per cent) and Hero MotoCorp (down 2.74 per cent) ended as the top losers in the index.
4. Sectoral indices today
Barring Nifty Pharma (up 0.68 per cent), and FMCG (up 0.51 per cent), all sectoral indices ended in the red.
Nifty IT (down 1.78 per cent), Auto (down 1.77 per cent), Media (down 1.60 per cent), Oil & Gas (down 1.26 per cent), and Realty (down 1.21 per cent) lost significantly.
5. Most active stocks in terms of volume
Jaiprakash Power Ventures (50 crore shares), Vodafone Idea (34.2 crore shares) and RattanIndia Power (18.35 crore shares) were the most active stocks in terms of volume on the NSE.
6. Seven stocks jump over 10% on NSE
Soma Textiles & Industries, Tarmat, Glenmark Pharmaceuticals, Salona Cotspin, Enviro Infra Engineers, Signpost India, and Century Extrusions were the seven stocks that surged more than 10 per cent, defying weak market sentiment.
7. Some 77 stocks hit upper circuits
As many as 77 stocks, including Salona Cotspin, NACL Industries and Shilpa Medicare, hit their upper circuits on the NSE.
On the other hand, Emkay Taps and Cutting Tools, Sri Adhikari Brothers Television Network and Parsvnath Developers were among the 40 stocks that hit their lower circuits on the NSE.
8. Advance-decline ratio
Out of 4,165 stocks traded on the BSE, 1,551 advanced and 2,453 declined. Some 161 stocks remained unchanged.
(This is a developing story. Please check back for fresh updates.)
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