Sensex, Nifty Open Lower as Markets Turn Cautious Ahead of TCS Q1 Results and US Trade Talks

Mumbai, July 10: Indian benchmark indexes fell in early trading on Thursday, and ahead of the start of the Q1 earnings season, when IT giant Tata Consultancy Services (TCS) is expected to release its results later in the day, investors became wary. Uncertainties around ongoing tariffs also affected market sentiment.

Key Indices Trade in Red

The 30-share BSE Sensex fell by 76.99 points, opening at 83,461.90, while the broader NSE Nifty declined 23.15 points to 25,452.95.

Among the major gainers on the Sensex were

• Tata Steel
• Power Grid
• Axis Bank
• Bajaj Finance

Among the major laggards on the Sensex were

• Tata Motors
• Infosys
• Bharat Electronics
• Bharti Airtel
• HDFC Bank
• Mahindra & Mahindra

Earnings Season and Trade Deal in Focus

Investor attention remains sharply focused on the Q1 FY26 earnings season, beginning with TCS, and developments around the US-India trade pact.

Markets have been trading within a narrow range for over a month. With the earnings season underway and ongoing trade discussions, stock-specific movements are expected to dominate in the near term. While a potential trade agreement between India and the US may provide upward momentum, it is unlikely to significantly alter the broader market trend unless supported by stronger triggers.

Global Sentiment Mixed; FIIs Turn Buyers

Asian markets were mixed in early trading. South Korea’s Kospi, Hong Kong’s Hang Seng, and Shanghai’s SSE Composite traded higher, while Japan’s Nikkei 225 edged lower.

Wall Street closed in the green on Wednesday, supporting global risk sentiment. Meanwhile, Foreign Institutional Investors (FIIs) were net buyers of Indian equities, purchasing ₹77 crore worth of stocks on Wednesday.

Crude Oil and Tariff Watch

Brent crude prices remained steady, slipping slightly by 0.06% to USD 70.15 per barrel.

On the trade front, India continues to negotiate a pact with the United States and has so far not been included in the Trump administration’s list of countries receiving tariff letters, providing some relief to local markets.

Previous Session Recap

On Wednesday, the Sensex closed 176.43 points lower at 83,536.08, while the Nifty fell by 46.40 points to 25,476.10 as investors booked profits ahead of earnings.

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