Kotak Mahindra Bank, Bharat Electronics, Zomato, Eternal, and Tata Motors were the top gainers on the Nifty.
Benchmark indices Nifty and Sensex kicked off the session marginally higher on July 8 as investors brace for potential fallout from Donald Trump’s sweeping tariff move. Starting August 1, imports from at least 14 countries face steep duties, adding to the nervousness on Dalal Street.
In today’s session, Kotak Mahindra Bank grabbed the headlines in the morning, rising over 4 percent following a strong Q1 update.
At about 9:35 am, the Sensex was up 27.97 points or 0.03 percent at 83,470.47, and the Nifty was up 5.95 points or 0.02 percent at 25,467.25. About 1961 shares advanced, 951 shares declined, and 147 shares remained unchanged.
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“The imposition of a 25 percent levy on US importers of all goods from key allies Japan and South Korea has weighed on sentiment,” Devarsh Vakil, Head of Prime Research at HDFC Securities, said.
Trump mentioned that the US is close to making a trade deal with India. We believe that if the India-US trade deal is announced, Indian markets will experience a relief rally, experts say. Even if the deal’s terms differ from initial market expectations, the simple removal of uncertainty around higher tariffs should drive this positive response.
Sectoral indices were largely positive in early trade, with notable gains seen in Nifty Energy, up 0.50 percent, and Nifty Private Bank, which rose 0.76 percent. Nifty Bank and Nifty Oil & Gas added 0.32 percent each, while Nifty Metal climbed 0.26 percent and Nifty Midcap 100 gained 0.23 percent. Nifty Realty, PSU Bank, Infra, and Media indices also edged higher. On the flip side, Nifty Consumer Durables was the biggest laggard, slipping 1.37 percent, followed by Nifty Pharma and Nifty IT, which dipped 0.15 percent and 0.02 percent, respectively. India VIX, the volatility index, was down 0.24 percent at 12.53, indicating subdued market nerves.
Kotak Mahindra Bank rose over 4 percent after it posted a stable performance in the June quarter business update. The private lender’s loan book expanded to Rs 4.45 lakh crore as of June 30, 2025, marking a 14 percent rise from Rs 3.90 lakh crore a year ago. On a sequential basis, advances were up 4.2 percent from Rs 4.27 lakh crore at the end of March.
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Also read: Trump says US ‘close’ to finalising a trade deal with India
Tata Group player Titan Company tanked 5 percent on July 8 after recording a 20 percent growth in the consumer business for the quarter ended June 30, 2025. During the quarter, Titan saw a net addition of 10 stores, taking the total retail network to 3,322 stores. Domestic business grew 19 percent YoY, led by Watches at 23 percent and CaratLane at 38 percent. The jewellery segment, including Tanishq, Mia, and Zoya, saw an 18 percent growth, with TMZ brands alone rising 17 percent.
Siemens Energy rallied over 2 percent after the company reported better-than-expected Q2FY25/H1FY25 results, though comparable figures for the year-ago period were not available. Jefferies initiated coverage with a ‘buy’ call while Motilal Oswal raised the target price.
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From a technical perspective, resistance has gradually shifted lower to the 25,500–25,600 band, a level that has witnessed heavy call writing, making it a tough ceiling. On the flip side, the 25,300 zone has emerged as a critical near-term support where the index rebounded sharply, taking support at the 10-day EMA—signalling a strong intraday reversal. A decisive close above 25,600 with strong follow-through could reignite bullish sentiment and pave the way toward the psychological 26,000 mark. Conversely, a breakdown below 25,300 could intensify selling pressure, dragging the index down toward 25,000.
Kotak Mahindra Bank, Bharat Electronics, Zomato, Eternal, and Tata Motors were the top gainers on the Nifty. Laggards on the index included Titan Company, Dr Reddy’s, Cipla, M&M, and Bharti Airtel.
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