Indices open marginally lower; NIFTY50 below 25,500 level, SENSEX down 84 points; Tata Motors top loser

The Indian stock market opened marginally lower on Thursday, July 10, as investors remained cautious amid mixed global cues and earnings announcements.

However, the broader market was trading up in the early session, with Nifty Midcap 100 and Nifty Smallcap 100 rising 0.18% and 0.29%, respectively.

Among sectors, Nifty Auto took the lead among losers, declining 0.40%. Nifty Pharma (-0.36%), Nifty FMCG (-0.25%), and Nifty IT (-0.24%) were the other losers.

Nifty Realty (0.46%), Nifty Metal (0.43%), Nifty Consumer Durables (0.10%), Nifty Private Bank (0.10%), and Nifty Oil and Gas (0.04%) constituted the top gainers.

According to exchange data, on Wednesday, the foreign institutional investors (FIIs) bought equities worth ₹77 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹920.83 crore worth of equities.

Globally, most of the Asian indices were trading with gains on Thursday morning while the market participants waited for more clarity on tariffs.

Japan's Nikkei saw a decline of 0.61% at 39,579.31 levels, while Hong Kong's Hang Seng saw a marginal rise of 0.07% at 23,909.04 levels.

The Shanghai Composite also traded higher by 0.36% at 3,505.58 levels. South Korea’s Kospi index surged 0.99% to 3,164.71.

US markets ended higher on Wednesday, led by gains in chip giant Nvidia after it became the first company to cross $4 trillion in market capitalisation.

The Dow Jones Industrial Average gained 217.54 points, or 0.49%, to end at 44,458.30; the S&P 500 advanced 37.74 points, or 0.61%, to close at 6,263.26; and the Nasdaq Composite rose 192.87 points, or 0.95%, to 20,611.34 levels.

As many as 2,506 stocks traded on the NSE during the early session, among which 1,605 were trading in the green, 821 were trading in the red, and 80 shares remained unchanged.

This indicates that the market breadth was in favour of positive.

Meanwhile, 47 stocks hit their one-year highs in the early trade, while only 11 stocks touched their 52-week lows.

Further, 48 stocks hit their upper circuits, while 7 hit their lower circuits.

India VIX, the volatility gauge, was trading 0.87% lower at 11.84 levels.

Tata Motors was the biggest loser, falling 0.91%, followed by Cipla (-0.89%), Apollo Hospitals (-0.78%), Bharti Airtel (-0.71%), and Mahindra & Mahindra (-0.65%).

On the other side, Tata Steel (1.04%), Power Grid (0.80%), Axis Bank (0.70%), Shriram Finance (0.69%), and Adani Enterprises (0.68%) were the top gainers on the 50-share index.