- Muted global cues: As of July 9, Indian equity benchmarks were largely flat—Nifty hovered around 25,531.7 and Sensex at ~83,727—driven by strength in FMCG stocks offsetting weakness in IT, amidst fresh U.S. tariff threats on copper and semiconductors .
- Tariff jitters continue: On July 8, both indices opened softer (Nifty ~25,450.5; Sensex ~83,420.2) as markets digested U.S. President Trump’s proposed 25% tariffs on trading partners and a possible 10% on BRICS countries, though hints at an India–U.S. deal offered some relief .
- What tomorrow may bring: Gift Nifty futures are down ~0.28%, suggesting a cautious opening. Still, support from European market gains and U.S. futures points to limited downside .
Key Drivers to Watch on July 10
- Global trade & tariff updates
Investors will be keenly monitoring any new developments on U.S. tariff policies or progress in a potential India–U.S. trade deal. - Foreign investment flows
July so far has seen net FII outflows (₹5,478 cr), though domestic institutional investor (DII) inflows (₹7,332 cr) have softened the blow . - Earnings spotlight
Focus turns to Q1 results from IT majors like TCS. Prevailing caution in tech reflects these upcoming earnings . - Technical trading patterns
Analysts at ET Markets emphasize July 10 as a critical inflection point. Support lies around Nifty 25,320–25,434 and Sensex ~83,200–83,400, with resistance seen at Nifty ~25,586–25,600 .
Expert Views & Price Predictions
- Prabhudas Lilladher: Bullish, with Nifty support seen at 25,250–25,300 and upside targets of 25,700 and 26,200. Bank Nifty support near 56,000, with next levels at 57,600 and 60,000 .
- Choice Broking: Continues a “buy on dips” stance; forecasts Nifty to rise toward 27,300–28,600 by quarter-end, with key support at 25,000–25,200 .
- Reuters poll: Despite high valuations (Nifty P/E ~23.5×), analysts predict Nifty could reach ~26,500 by year-end, and Sensex ~86,100; though many spot risk of a short-term correction .
- BofA & HSBC: Recommend a cautious near-term posture, citing elevated valuations and global uncertainties, while reaffirming long-term bullishness .
Summary Table
FactorOutlook for July 10Global trade/tariffsWatch for U.S.–India developments; tariffs lingerFII vs. DII flowsFII outflows may pressure; DII providing cushionEarningsIT sector performance (especially TCS) pivotalTechnical levelsSupport: Nifty ~25,320; Resistance: ~25,600Analyst sentimentCautious near-term; bullish long-term.
Medium-term momentum remains constructive, and analysts continue to eye gains toward Nifty ~26,500+ by year-end—though elevated valuations mean short-term corrections remain a tangible risk.
Markets look set for a cautious, range-bound session on July 10—likely opening slightly softer but staying supported by domestic mutual fund inflows and stable global cues. Watch for:
- U.S. trade news and any India–U.S. progress
- IT earnings reactions for sector direction
- Technical triggers around key levels—today could be a make-or-break day for bias