Equity Futures
Nifty 50 seen in tight range near term; earnings, tariff eyed
This story was originally published at 18:59 IST on 8 July 2025
Register to read our real-time news.Informist, Tuesday, Jul. 8, 2025
By Anjana Therese Antony and Akash Mandal
MUMBAI – The Nifty 50 is likely to move in the range of 25400-25600 levels in the next few sessions at least till the Tata Consultancy Services' earnings for the June quarter due Thursday. Analysts believe TCS earnings could be a trigger for the market which has been consolidating in the past few sessions. Investors continue to monitor the updates related to US tariffs and also wait for the outcome of the US-India trade talks.
US President Donald Trump's latest tariff letters to 14 countries seemed to have little impact on the domestic market, which closed slightly higher Tuesday after moving in a tight range throughout the day. The Nifty 50 ended 0.2% higher at 25522.50 points and the BSE Sensex ended 0.3% higher at 83712.51 points. The 25400-25200 level is considered a strong support for the 50-stock index in the near term, while 25800-25900 points will be the resistance, as per derivatives analysts at two broking firms.
Trump imposed a 25% tariff on Japan, South Korea, Malaysia, Kazakhstan, and Tunisia effective Aug. 1, and a 40% levy on Myanmar and Laos. The Trump administration also slapped a 30% tariff on South Africa and Bosnia and Herzegovina, while 35% levies are imposed on Bangladesh and Serbia. According to Trump's letters, if a country raises tariffs on US goods, the same amount will be added to the US tariffs.
Options traders refrained from placing aggressive bets in the Nifty 50 amid uncertainty about the next leg of tariffs and in the absence of key triggers. The highest open interest concentration as well as addition was at 26000 strike price of call and 25400 strike of put options. Premiums on 25700-26100 call contracts expiring this week declined 6-43%, while those on 25500-24900 put options fell 52-63%.
The trading volumes on bourses have been relatively lower after the Securities and Exchange Board of India banned Jane Street entities from the Indian securities market. The average volume in the Nifty 50 has been around 200 million over the last three sessions, sharply lower than the average volume of 366 million in the 10 prior sessions. Jefferies had also indicated that volumes in the derivatives market may be hit post the issue, but had said that the impact on volume could be partially offset by "any uptick in proprietary trading."
With the June quarter earnings season starting this week, analysts expect the growth to be better than the March quarter, but a significant revival seems unlikely due to no major change in the macroeconomic environment of heavyweight sectors such as information technology, automobile, banking, and financial services.
"We perceive 1QFY26 (Apr-Jun) as the 'crossover quarter,' which should mark the crossing-over from a subdued low-single-digit earnings growth of FY25 towards a more sustainable double-digit earnings growth over the four subsequent quarters," Motilal Oswal Financial Services Monday said in its strategy report.
--Nifty 50 Jul closed at 25625.00, up 86.10 points; 102.50-point premium to the spot index
--Nifty 50 Aug closed at 25731.60, up 81.30 points; 209.10-point premium to the spot index
--Nifty 50 Sep closed at 25878.00, up 80.30 points; 355.50-point premium to the spot index
BSE, Kotak Mahindra Bank, Titan Co., Multi Commodity Exchange of India, HDFC Bank, Angel One, Reliance Industries, Infosys, Trent, Axis Bank, Tata Consultancy Services, Central Depository Services, Bharat Electronics, Tata Motors, State Bank of India, and ICICI Bank were the most active underlying stocks Tuesday. End
Edited by Akul Nishant Akhoury
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
