Stock market ends flat as investors await clarity on India-US trade deal

Mumbai, July 7 (IANS) The Indian stock market ended flat on Monday as investors remained cautious amid uncertainty around the interim India-US trade deal.

Sensex closed at 83,409.68, marginally up 9.61 points or 0.01 per cent. The 30-share index opened marginally lower at 83,398.08 against the last session's closing of 83,432.89. The index did not see much volatility as it touched an intra-day high at 83,516.83, a jump of 84 points.

Similarly, Nifty settled flat at 25,461.30, up 0.30 points.

From the Sensex basket, Hindustan Unilever, Adani Ports, Kotak Bank, Asian Paints, ITC, Power Grid, NTPC, Bharati Airtel, and Sun Pharma settled in positive territory. While Mahindra and Mahindra, Tata Motors, Tata Steel, HDFC Bank, Bajaj Finance, L&T, TCS, SBI, and Infosys ended in the red.

Meanwhile, 22 shares advanced and 28 declined from the Nifty50 index.

Nifty largely traded in a narrow range throughout the session as investors remained cautious ahead of the anticipated US tariff announcements, said analysts.

“Market participants appeared reluctant to take aggressive positions, keeping the broader index range-bound," said Sundar Kewat from Ashika Institutional Equity.

The broader index remained range-bound as market participants seemed hesitant to adopt aggressive positions.

On the sectoral level, stocks in the consumer goods, oil and gas, consumption, and real estate sectors showed buying interest. On the other hand, there was some profit-booking and poor performance in the media, metals, IT, and automotive sectors, said analysts.

The majority of broader indices closed in negative territory, with the Nifty Midcap 100 declining 0.27 per cent or 162 points and the Nifty Smallcap 100 down 0.44 per cent or 82.90 points. Nifty FMCG and Nifty 100 surged.

Rupee traded weaker by 0.47 rupees or 0.56 per cent, closing at 85.87, as dollar strength returned amid renewed uncertainty over US trade deals.

With the 90-day tariff extension period nearing its end and no formal agreements signed yet, market sentiment has turned cautious. All eyes are now on the upcoming Fed meeting minutes, which could guide dollar direction further, said analysts.

--IANS

aps/na