Mid-Day Market Update 10 July 2025: Nifty Slips Below 25,400, IT & Bank Stocks Drag, All Eyes on TCS Results
By CapitalKeeper | Mid Day | Indian Equities | Market Moves That Matter
📊 Index Snapshot (Mid‑Day July 10)
- Nifty 50: Opened at 25,511.65, now 25,383.30 (–128.35 pts; –0.50%)
- Bank Nifty: From 57,339.75 to 57,073.89 (–265.86 pts; –0.46%)
- Sensex: From 83,658.20 to 83,246.99 (–411.21 pts; –0.49%)
- Fin Nifty: From 27,130.10 to 27,040.60 (–89.50 pts; –0.33%)
Indices have posted a sharp slide from the open, dragged by IT weakness and finance-linked pressure.
🔍 Sector Breakdown & Movers
🧑💻 IT
- Leading the decline, with Nifty IT down 0.7%. Investors are cautious ahead of TCS’s Q1 earnings tonight. TCS itself dipped 0.5% at the open.
🏦 Financials
- Bank Nifty retraced ~0.46%, weighing on Fin Nifty. Money flow retreat likely on profit-booking and broader market slump.
🛍️ FMCG
- Holding relatively steady, reflective of their defensive nature. Early morning strength was pared as broader pressure took over.
🏭 Power & Housing
- Power financiers like REC and Power Finance Corp saw 2% gains, supported by Morgan Stanley coverage.
- Home financiers (Home First, Aadhar Housing, Aptus) also firm, buoyed by Bernstein upgrades.
🏗️ Metals & Oil & Gas
- Largely flat to mildly positive; defensive positioning prevails while traders digest global tariff cues.
📈 Technical Outlook
- Nifty broke below support at 25,450, now eyeing next support zone at 25,350–25,400. A decisive drop below may test 25,300.
- Bank Nifty dipping into 57 k zone; if it fails to regain 57,200–57,300 intraday, further downside to 56,800–56,900 may follow.
- Fin Nifty mirroring banking’s weakness; risk-on sectors like power and housing continue to stand out.
🌍 Global & Macro Cues
- IT earnings ahead markets sensitive to TCS results tonight amid expectations of project slowdowns .
- Tariff anxiety persists uncertainty around U.S. trade actions cushions sentiment; dollar-fueled rupee strength continues .
- FX and equities diverge rupee ticked up to 85.59/USD even as markets slumped.
- Asian markets mixed APAC equities modestly positive (MSCI +0.4%), while India lags due to domestic sector pressures.
🔔 Intraday Watchlist
- TCS earnings: Key trigger any softness may amplify IT downtrend.
- Power & housing stocks: Stay alert to coverage upgrades; REC/Power Finance, Home First.
- Rupee movement: A dip below ₹85.6/$ may signal renewed import pressure.
- Support test: Watch Nifty 25,350; failure here could accelerate decay.
✅ Mid‑Day Takeaway
Today’s session reflects risk-off positioning: IT earnings jitters, trade uncertainty, and currency dynamics are dominating. Defensive themes in power and housing are holding their ground, but broader sentiment is cautious until earnings clarity arrives tonight. Technically, key levels are pivotal below support may trigger further downside, while recovery may hinge on global and corporate triggers.
Let me know if you’d like chart alerts for Nifty/BANKNIFTY breakdowns, stock-specific technical setups, or post-TCS earnings commentary.
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