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IT Earnings Awaited, Vedanta Faces Allegations, JK Tyre Invests in Green Energy
IT Earnings Awaited, Vedanta Faces Allegations, JK Tyre Invests in Green Energy
Written by - Fisdom Research
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July 9, 2025
2 minutes
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Market Snapshot
Benchmark indices ended lower on July 9 after a rangebound trading session, with last-hour selling dragging the Nifty below 25,500.
Investors remained cautious ahead of US President Trump’s upcoming trade deal announcement with seven more countries, expected on Wednesday.
Sectoral performance was mixed: Metals, Realty, and Oil & Gas indices declined 1.4% each. Media, IT, and PSU Banks also saw weakness, down around 0.5%. On the positive side, FMCG, Auto, and Consumer Durables gained 0.3% to 0.8%.
The Nifty Pharma index closed flat despite concerns, as Trump threatened a 200% tariff on all pharmaceutical imports
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY FMCG
0.8
NIFTY PRIVATE BANK
0.0
NIFTY CONSUMER DURABLES
0.5
NIFTY HEALTHCARE INDEX
-0.4
NIFTY AUTO
0.4
NIFTY MEDIA
-0.4
NIFTY PHARMA
0.2
NIFTY PSU BANK
-0.4
Top News
IT stocks slipped on July 9 as investors turned cautious ahead of Tata Consultancy Services’ (TCS) Q1 FY26 results, set to kick off the IT earnings season on July 10.
Metal stocks witnessed sharp selling, with the Nifty Metal index falling nearly 2%, after short-seller Viceroy Research accused Vedanta Resources of being a “Ponzi scheme” and revealed a short position.
JK Tyre announced a ₹1.22 crore investment to acquire a 26% stake in STTY RE Ltd. for solar power sourcing, reinforcing its commitment to long-term sustainability through captive energy solutions.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
SHRIRAMFIN
1.8
HCLTECH
-2.1
BAJFINANCE
1.4
HINDALCO
-1.8
COALINDIA
1.3
TATASTEEL
-1.7
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