Stock market today: It was another quiet day for the Indian stock market, with benchmark indices largely remain unchanged, as investors remained cautious amid uncertainty over the ongoing India–US trade talks.

Additionally, sentiment was weighed down by concerns related to SEBI’s report on Jane Street, which also contributed to the lack of momentum and kept share price movements largely restricted.

However, a few sectors such as FMCG and Oil & Gas managed to show some strength; a drop in crude oil prices and signs of potential volume recovery in urban India during the June quarter led to buying momentum in these counters.

Benchmark indices ended flat on July 7, with the Sensex inching up just 9.61 points to 83,442.50 and the Nifty adding a mere 0.30 points to settle at 25,461.30, reflecting largely unchanged market sentiment. However, the broader market closed with losses, with the Nifty Midcap 100 and Nifty Smallcap 100 ending lower by over 0.30%.

Among sectoral indices, 10 out of 13 ended in the red. The Nifty FMCG and Nifty Oil & Gas closed and are among only two major indices that ended in the green. In terms of top laggards, Nifty Media was the worst performer, closing with a loss of 0.98%, followed by Nifty IT and Nifty Metal, which both ended lower by over 0.70%.

Meanwhile, the India–US trade talks have faced delays, with reports suggesting that the White House is pushing New Delhi to open up access to sensitive sectors such as agriculture and dairy. India has been opposing these demands in order to protect its farmers, who heavily depend on these sectors for their livelihood.

The 90-day pause on reciprocal tariffs announced by Donald Trump in April is set to expire on July 9, with around a dozen countries expected to receive letters from the White House detailing the new, higher levies. Trump clarified on Sunday that these revised tariff rates would take effect from August 1.

Trump also threatened to impose an additional 10% tariff on nations aligning with the “anti-American” policies of the BRICS emerging economies. So far, only Britain, China, and Vietnam have agreed to any form of trade deal with the Trump administration.

Top Gainers

Jaiprakash Power Ventures emerged as the top gainer, with the stock ending 19.53% higher at ₹22.56 apiece. Today’s surge also marks one of the biggest intraday rallies for the stock in recent months and pushed it to a nine-month high. Godrej Consumer Products shares also ended with a gain of 6%, as the company expects double-digit revenue growth in the June quarter, supported by improving volumes.

Excluding soaps, the standalone business is projected to report very strong performance this quarter, with double-digit underlying volume growth (UVG), driven by price-volume rebalancing amid commodity volatility.

Overall, 50 constituents from the Nifty 500 index concluded the session with gains ranging between 1.5% and 19.5%.

Top Losers

Among the top losers, Deepak Fertilisers & Petrochemicals Corporation emerged as the worst performer, plunging 6% to ₹1,612, followed by Endurance Technologies and Chennai Petroleum Corporation, which declined by 5.1% and 4.3%, respectively.

Other stocks such as Indus Towers, Info Edge (India), Asahi India Glass, Bharti Hexacom, Jubilant Foodworks, MRPL, Sagility India, HEG, and Finolex Industries also witnessed selling pressure, ending the session with losses of over 3%.

Meanwhile, defence stocks saw profit booking after a sustained rally, with shares of Garden Reach Shipbuilders, Bharat Electronics, and Bharat Dynamics falling 2.8%, 2.4%, and 2.1%, respectively. Overall, 48 constituents from the Nifty 500 index closed with losses ranging between 1.5% and 6%.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.