Synopsis : Indian benchmark indices slipped on Thursday amid global caution, with Sensex down 239 points and Nifty lower by 89 points. Investor sentiment remains cautious ahead of the US-India trade talks and the Q1-FY26 earnings season kickoff with TCS results.
Indian markets opened on a cautious note on Thursday, July 10, reflecting a slight negative bias amid muted global cues, US-India trade uncertainties, and investor caution ahead of the Q1-FY26 earnings season.
At 11:16 AM, the BSE Sensex fell 239 points or 0.29% to 83,296.10, while the Nifty 50 slipped 89 points to 25,386.75, tracking mixed trends in Asian markets and concerns over the US Federal Reserve’s policy path.
Japan traded lower, while China, Korea, and Hong Kong posted modest gains. Global investors remain cautious as the 90-day US tariff suspension on India expired on July 9, with no official agreement announced, heightening trade-related uncertainties.
TCS is set to announce its Q1 FY26 results later today, marking the start of the earnings season. Analysts expect a 0.5% sequential revenue decline and flat margins due to lower utilisation and higher talent costs, which could set the tone for the IT sector and broader market sentiment.
The IT sector opened marginally lower, while FPIs continued to rotate between sectors, with inflows seen in auto and IT, and outflows from power and capital goods. Total FPI outflows for July so far are around ?5,700 crore.
India VIX fell 2.09% to 11.94, indicating some easing in volatility. Derivatives data suggest resistance for Nifty near 25,500, with key support levels at 25,200, and potential downside towards 24,800–24,400 if selling pressure persists.
Near-term market direction will depend on corporate earnings, geopolitical developments, and macroeconomic signals from the US, with the US Fed meeting minutes expected later today likely to influence global risk appetite and FPI flows.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making investment decisions.
