Market Wrap, July 9: NIFTY50 settles below 25,500, SENSEX falls 176 points; realty, metal stocks drag, HCL Tech top loser

The Indian stock market closed lower after a volatile session on Wednesday, July 9, as investors were jittery amid tariff tensions and June quarter earnings developments.

Shares of pharma companies traded mixed after US President Donald Trump threatened to impose 200% tariffs on drug imports after a transition period that could last more than a year.

A sharp fall in index heavyweight Reliance Industries shares led Nifty50 to settle below the 25,500 level on Wednesday.

According to exchange data, on Tuesday, the foreign institutional investors (FIIs) sold equities worth ₹26.12 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹1,366.82 crore worth of equities.

Globally, shares were mixed in Asia on Wednesday as the Trump administration pressed its campaign to win more favourable trade deals with nations around the globe.

Japan's Nikkei 225 was seen at the 39,821.28 level, rising 0.33%, while Singapore's Straits Times rose 0.25% to end at the 4,057.82 level.

Hong Kong's Hang Seng declined 1.07% to end at the 23,892.32 level, while the Shanghai Composite closed 0.13% lower at the 3,493.05 level. South Korea’s Kospi gained 0.60% to settle at the 3,133.74 level.

As many as 3,030 stocks traded on the NSE on Wednesday. Out of this, 1,477 advanced and 1,455 stocks declined, while 100 scrips remained unchanged.

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

A total of 61 stocks hit their 52-week highs, while 30 stocks touched their one-year lows. Besides, 92 stocks hit their upper circuit limits, and 52 touched their lower circuit bands on Wednesday.

NSE-listed firms' market capitalisation stood at ₹459.21 lakh crore at the end of the session.

India VIX, the volatility gauge, stood at 11.94 levels, declining 2.09%.

HCL Technologies was the biggest laggard, shedding 2.05%, followed by Hindalco Industries (-1.83%), Tata Steel (-1.71%), Apollo Hospitals (-1.51%), and Tech Mahindra (-1.41%).

On the other side, Shriram Finance (1.76%), Bajaj Finance (1.44%), Coal India (1.31%), Hindustan Unilever (1.2%), and UltraTech Cement (0.84%) were the top gainers on the 50-share index.

The broader market closed mixed, with the Nifty Smallcap 100 index advancing 0.59% to end at 19,007.40 levels, while the Nifty Midcap 100 index closed 0.13% lower at 59,339.60 levels.

Nifty Realty was the biggest dragger among sectors, dipping 1.49%. Nifty Metal (-1.4%), Nifty Oil and Gas (-1.25%), Nifty IT (-0.78%), and Nifty Media (-0.39%) were the other top decliners.

However, Nifty FMCG (0.80%), Nifty Consumer Durables (0.48%), Nifty Auto (0.38%), and Nifty Pharma (0.19%) were the top gainers.