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Below the Perspective on Markets 07 July 2025 by Mr. Vikram Kasat, Head - Advisory, PL Capital

“Nifty started the week on a sluggish note, holding flat near the 25,450 mark as bulls and bears played tug of war with no clear direction. Sentiment remained on edge amid mixed global cues, including uncertainty around U.S. tariff moves and a surprise OPEC+ supply bump that kept oil prices subdued. Meanwhile, domestic cues were lacklustre, and broader markets showed more pain than gain. The Sensex too ended almost unchanged, up just 9 points at 83,442.

Key Highlights:

 * Nifty Midcap down 0.27%, Smallcap down 0.4%

 *  FMCG outperformed, up 1.6%; strength seen in Dabur, GCPL

 *  Oil & Gas index gained 0.4% despite weak crude

 * Media, IT & Metals dragged, each down 0.7–1%

 * Major laggards: Tech Mahindra, UltraTech, ONGC, Eternal

 *  Gainers: HUL, Tata Consumer, Nestle, Jio Financial, Eicher Motors

 * INR weakened sharply, ending at 5.86 vs USD

 Outlook This Week:

Markets may stay rangebound in the short term, with Nifty likely consolidating between 25,300–25,600. Watch out for cues from global macro, crude trends, and institutional flows. Defensive plays like FMCG may continue to see interest, while PSU and defence names could take a breather. Traders should stay nimble—volatility may spike ahead of key economic data and earnings season.”

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