Indian stocks snap four-day rally on profit-taking; Trent plunges over 12%

Source: PTI

Benchmark stock indices Sensex and Nifty closed lower on Tuesday (July 7, 2026) due to last-minute profit-taking after a four-day rally and weak Asian trends.

• The 30-share BSE Sensex declined by 104.35 points (0.13%) to close at 78,180.72. During the day, it climbed 379.85 points (0.48%) to 78,664.92.
• The 50-share NSE Nifty dipped 31.65 points (0.13%) to end at 24,398.70.

Sensex and Nifty had rallied more than 2% in the last four sessions, hitting more than two-month high levels on Monday (July 6, 2026).

Key Movers

Top Losers

• Trent emerged as the top loser, tumbling 12.42% after its June quarter revenue growth missed market expectations.
• Other laggards included Adani Ports, Bharat Electronics, Larsen & Toubro, Reliance Industries, and ICICI Bank.

Top Gainers

• HCL Tech led gains, rising 3.08% ahead of its financial results announcement.
• Tech Mahindra, Infosys, and Tata Consultancy Services also advanced.
• Titan jumped 2.62% after reporting 41% revenue growth for the June quarter of FY27, driven by strong performances across its jewellery, watches, and eyewear segments.
• Eternal rose by 2.12%.

Sectoral Performance

| Sector | Change | |--------|--------| | Focused IT | +2.25% | | IT | +2.12% | | Consumer Durables | +0.65% | | MidSmall Private Banks Quality Tilt | +0.55% | | Oil & Gas | +0.09% | | Capital Goods | -1.73% | | Realty | -1.61% | | Industrials | -1.49% | | Power | -1.12% | | Metal | -1.04% | | Commodities | -0.90% | | Hospitals | -0.90% |

• The BSE SmallCap Select index declined 1.08%.
• The MidCap Select index dipped 0.15%.
• A total of 2,633 stocks declined, while 1,599 advanced and 165 remained unchanged on the BSE.

Market Commentary

"Profit booking emerged in the latter half of the session as weakness across Asian markets and investor caution ahead of the US Fed minutes weighed on sentiment. However, IT stocks continued to lend support, extending gains ahead of the June-quarter earnings season as the sector recovered from recent corrections." — Vinod Nair, Head of Research, Geojit Investments Ltd

"Indian equities ended marginally lower, snapping a four-session winning streak, as weak cues from Asian markets and a renewed attack on an oil vessel in the Strait of Hormuz dampened investor sentiment." — Ponmudi R., CEO, Enrich Money

Global Cues

• Brent crude jumped 1.22% to $72.87 per barrel.
• Asian markets ended lower:
• South Korea's Kospi tanked 4.91%.
• Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng also declined.
• European markets traded on a mixed note.
• U.S. markets ended higher on Monday (July 6, 2026).

Other Developments

• Foreign Institutional Investors (FIIs) bought equities worth ₹243.03 crore on Monday (July 6, 2026).
• TCS will announce its quarterly results on Thursday (July 9), marking the start of earnings season for Indian IT players.
• The rupee rose 15 paise to 95.28 against the U.S. dollar in early trade.
• Saudi Arabia cut its August crude oil official selling price to Asia to a six-year low.