Markets wilt under selling pressure; Sensex drops 345 points on weakness in IT stocks

Benchmark indices Sensex and Nifty buckled under selling pressure on Thursday (July 10, 2025) due to weakness in IT and telecom stocks as investors turned cautious ahead of the start of earnings season, with tech major TCS announcing its Q1 numbers later in the day.

Tariff-related uncertainty also dampened investor sentiment in the market, traders said.

The 30-share BSE Sensex dropped 345.80 points or 0.41%, to settle at 83,190.28. During the day, it declined 401.11 points or 0.48%, to 83,134.97.

On similar lines, the 50-share NSE Nifty declined 120.85 points or 0.47% to 25,355.25.

A positive momentum in global equities, however, restricted the loss in the domestic markets.

From the Sensex pack, Bharti Airtel, Asian Paints, Infosys, Bharat Electronics, Tech Mahindra and Eternal were major laggards.

However, Maruti, Tata Steel, Bajaj Finance, Bajaj Finserv, Trent and Tata Consultancy Services were among the gainers.

An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the U.S. to iron out differences in sectors like agriculture and automobiles, a government official said on Thursday (July 10, 2025).

This visit is significant as the U.S. has further extended the imposition of additional import duties (in the case of India, it is 26%) till August 1. India is seeking the removal of this additional tariff.

In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite Index and Hong Kong’s Hang Seng settled higher, while Japan’s Nikkei 225 index ended lower.

European markets were trading mostly higher. The U.S. markets ended in positive territory on Wednesday (July 9, 2025). Foreign Institutional Investors (FIIs) bought equities worth ₹77 crore on Wednesday (July 9, 2025), according to exchange data.

Global oil benchmark Brent crude dipped 0.27% to $70 a barrel.

On Wednesday (July 9, 2025), the 30-share BSE Sensex fell by 176.43 points or 0.21%, to settle at 83,536.08. The Nifty declined 46.40 points or 0.18%, to end at 25,476.10.