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Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd

Nifty ended lower for the fourth consecutive day at 25,082 (-0.3%), tracking weak global cues after US President announced plans to impose 30% tariff on imports from the European Union and Mexico, effective from August 1. Meanwhile, the broader markets witnessed buying interest with Nifty Midcap100 and Smallcap100 indices rising by 0.7% and 1.0% each. Amongst sectors, Nifty Pharma gained 0.8% as amid expectations of a favourable outcome in the US-India trade deal. On the other hand, Nifty IT lost 1.1% as TCS’s weak Q1 earnings and cautious guidance sparked a broad sectoral sell-off. Liquor stocks are expected to be in focus following news that the Maharashtra (third-largest liquor-consuming state in India) would issue 328 new liquor licenses, ending a 50-year ban on granting new wine shop permits; which is likely to improve distribution network for liquor companies. On the macro front, the wholesale inflation (WPI) turned negative in Jun’25, easing to 14-month low of -0.13% from 0.39% in May. Market participants now await the release of retail inflation (CPI) data later today. Key Q1 results on Tuesday include HDFC Life Insurance, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, HDB Financial Services amongst others. We expect the market to remain in consolidation phase, awaiting updates on the India-US trade deal; while stock-specific action could be seen on the back of quarterly earnings announcements.

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