Stock Market Today: Sensex, Nifty End Flat After Volatile Session; RIL, HDFC Bank, PSU Banks Support Gains

Indian benchmark stock indices, Sensex and Nifty 50, ended the day almost flat on Tuesday, July 1, after a volatile trading session as investors remained cautious ahead of the July 9 tariff deadline for Trump's reciprocal tariffs and the June-quarter earnings season.

The Sensex rose by 91 points, or 0.11%, to close at 83,697.29, while the Nifty 50 went up by 25 points, or 0.10%, to settle at 25,541.80. Gains in heavyweight stocks like Reliance Industries, HDFC Bank, and Bharat Electronics (BEL) helped the indices stay in positive territory despite mixed global cues.

Top Gainers and Losers:

Apollo Hospitals was the top gainer, rising 3.63% after announcing a restructuring plan. Bharat Electronics (BEL) also gained 2.7%, while Reliance Industries climbed 1.75% to reach a nine-month high. SBI Life Insurance and Asian Paints were also among today's top nifty gainers.

While, Nestle India fell 2.22%, Axis Bank dropped 2.14%, and Shriram Finance declined by 1.53%. Eternal and Trent were also among the losers for the day.

Among the sectoral indices, Public sector banks continued to do well, with the Nifty PSU Bank Index rising for the sixth day in a row, gaining 0.71%. The Nifty Bank Index also moved up by 0.26%, while the Private Bank Index rose slightly by 0.12%.

However, some sectors saw losses. The media sector was the worst performer, with the Nifty Media Index falling 1.31%. The FMCG sector dropped 0.69%, and the IT sector also slipped, down 0.30%.

Broader markets underperformed the benchmarks, with mid and small-cap indices ending lower by 0.4%.

Stock Highlights:

• Gabriel India hit a 20% upper circuit on restructuring plans.
• Karur Vysya Bank rose over 2% after a strong Q1 update.
• Dixon Technologies fell nearly 2% after a downgrade by Morgan Stanley.
• NMDC dropped 3% after cutting prices for lumps and fines.
• Sigachi Industries extended its fall, down 17% in two sessions following a fire at its Telangana plant.
• Globe Civil Projects rallied over 26% post listing.
• Ellenbarrie Industrial Gases hit the upper circuit, while Raymond Realty slipped over 5%.

Out of 4,164 stocks traded on the BSE on Tuesday, 2,021 stocks rose, 1,989 fell, and 154 remained unchanged, showing a mostly balanced market sentiment.

Why Indian Stock Market Traded Flat?

"Domestic indices traded within a narrow range, following last week's strong rally driven by easing geopolitical tensions and optimism over a potential U.S. trade deal. Investors are closely monitoring developments, seeking clarity on U.S. tariffs as the 90-day pause approaches its end.

Additionally, confidence in domestic earnings growth remains crucial for sustaining market sentiment, with Q1FY26 results, set to begin next week, expected to provide further insight," said Vinod Nair, Head of Research at Geojit Investments.

"Meanwhile, multiple tailwinds, including a favourable monsoon, declining inflation, including benign crude prices, and government efforts to boost demand, are anticipated to lend continued support to investor sentiment," added Vinod Nair of Geojit Investments.

Stock Market Outlook:

Caution prevailed ahead of global trade cues, but strong manufacturing data and selective IPO strength helped keep sentiment afloat. Focus will remain on U.S.-China trade updates, macro data releases, and early signs from the Q1 earnings season," said Vikram Kasat, Head - Advisory, PL Capital.

"After the sharp upside breakout of the broader high low range of 24500-25200 levels as per weekly chart in last week, the market is consolidating from the highs and sliding down to the support of previous broken area around 25300 levels could be a positive indication.

The near-term trend of Nifty remains positive. Further consolidation/weakness from here could find strong support around 25400-25300 levels, where one may expect sharp bounce from the lows. However, a decisive move above the high of 25700 could open the next upside targets of around 26000-26200 levels in the near term," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

Rupee VS Dollar:

The rupee rose 25 paise to close at 85.51 against the US dollar. Investors stayed cautious due to uncertainty around the India-US trade deal.

"The local currency gained alongside most Asian peers, as persistent worries over U.S. President Donald Trump's fiscal policies and uncertainty around trade deals kept the dollar falling to a more than three-year low against major global counterparts," noted Nandish Shah, Deputy Vice President, HDFC Securities.

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