Mumbai— Indian equity markets closed flat with a slight upward bias on Tuesday, as investors remained cautious ahead of the looming July 8 deadline for reciprocal U.S. tariffs. Market sentiment was largely driven by ongoing trade negotiations between India and the United States, with hopes of a potential trade deal being finalized this week.
The Sensex, after hitting an intraday high of 83,874.29, settled at 83,697.29—up 90.83 points or 0.11 percent. Similarly, the Nifty rose 24.75 points, or 0.1 percent, to close at 25,541.8.
Among the 30 Sensex constituents, Bharat Electronics Ltd. (BEL) led the gains, climbing 2.51 percent during the session. Other notable gainers included Asian Paints, Kotak Mahindra Bank, HDFC Bank, Infosys, Titan, and Bharti Airtel.
On the downside, Axis Bank, Trent, Eternal (formerly Zomato), Tech Mahindra, ICICI Bank, and TCS were among the top losers.
The broader market showed mixed signals. The Nifty Midcap 100 index ended flat, while the Nifty Smallcap 100 dipped slightly by 0.10 percent.
Sector-wise, Nifty PSU Bank, Metal, Oil & Gas, Consumer Durables, Healthcare, and Pharma indices closed in the green. Meanwhile, Auto, IT, Energy, FMCG, Media, and Realty sectors posted declines.
The total market capitalization of all listed companies on the NSE stood at ₹5.36 trillion.
Market volatility eased, with the India VIX (Volatility Index) dropping 2.01 percent to 12.5, signaling reduced investor anxiety.
Gold prices traded higher, supported by continued weakness in the U.S. dollar. COMEX Gold jumped $30 to reach $3,345, while MCX Gold rose ₹1,200 to settle around ₹97,300.
“Sentiment remains upbeat this week due to expectations surrounding key U.S. economic data, particularly Non-Farm Payrolls, unemployment figures, and the ADP non-farm employment change,” said Jateen Trivedi, Analyst at LKP Securities.
The Indian Rupee also strengthened, gaining 0.28 percent to close at 85.51 against the U.S. dollar. The uptrend was supported by a weaker Dollar Index—trading below 97.00—and softening crude oil prices.
“The Rupee is expected to trade within a range of 85.20 to 85.80,” Trivedi added. (Source: IANS)
