Market Analysis: Ashika’s Sundar Kewat Highlights Investor Caution as Nifty and Sensex End Flat

Indian stock markets remained range-bound on July 8, 2025, as global uncertainty and looming US tariff threats kept investors on the sidelines. The Nifty 50 held on to 25,400 points, ending flat at 25,461. The BSE Sensex settled at 83,443, showing little movement throughout the session.

The Nifty Bank index dropped 83 points to 56,949, while the Nifty Midcap 100 index dropped 162 points to 59,516.

Sundar Kewat of Ashika Institutional Equity on Market Sentiment

Sundar Kewat, Technical and Derivatives Analyst at Ashika Institutional Equity, provided a clear view of the day’s muted performance. He noted:

“For the Nifty, significant call writing was observed at the 25,500 and 26,000 strike levels, while put writing was prominent at the 25,400 and 25,300 levels. The Put-Call Ratio (PCR) stood at 0.80, suggesting a slightly bearish bias in the near term. Meanwhile, the Max Pain level remained at 25,450, implying potential expiry pressure around the same zone. With the index lacking a decisive directional bias, participants are expected to closely monitor global cues and domestic macro data for fresh triggers.”

His analysis highlights the risk-averse mindset prevailing among traders, driven by macroeconomic and geopolitical factors.

Key Market Highlights

• Reliance Industries led Nifty gains, supported by strong moves in FMCG majors HUL, Nestle India, Tata Consumer Products, and ITC.
• Upstream oil producers ONGC and Oil India fell on lower crude prices, while oil marketing companies HPCL, BPCL, and IOC rose 1–2%.
• Titan dropped over 5% on weak sales; Info Edge slid 4% after slow billing growth; Jubilant FoodWorks also closed lower.
• Dabur India edged up on margin optimism despite soft topline.
• Godrej Consumer Products jumped 6% on robust quarterly results.
• Defence stocks saw profit booking; BEL was the top Nifty loser, dragging HAL and Cochin Shipyard down.
• ICICI Lombard declined on weak premium data; New India Assurance gained after strong Q1 growth.
• PB Fintech reversed early losses to close at the day’s high.
• Dreamfolks Services fell 6% on profit booking.
• JP Power Ventures surged 19% on strong volumes.

Global Tensions Impact Indian Stock Market

The cautious sentiment was driven by rising concerns over US tariffs on Asian economies, including India. Although the tariff deadline has been pushed back to August 1, the lack of clarity has created volatility. A potential India-US trade agreement is in the works, which, if finalized, could boost market sentiment. However, investors remain in “wait-and-watch” mode for now.

What This Means for Investors

With benchmark indices showing minimal direction, technical resistance and global cues are expected to guide short-term movement.

According to Sundar Kewat’s analysis, the current Put-Call Ratio (PCR) of 0.80 and Max Pain level at 25,450 indicate a slightly bearish undertone and potential expiry pressure around this zone. Indian markets may continue to trade in a narrow range until clarity emerges on the US trade policy and the India-US deal.