Indian Stock Market Today: Gift Nifty in Red, Trump Tariffs Shock Global Trade, TCS Q1 Misses Revenue Estimate

Markets brace for a weak opening as Gift Nifty trades at a discount, Trump triggers trade fears with new tariffs, TCS posts mixed Q1 earnings, and Bitcoin nears $116K.

Mumbai, July 11, 2025:
As trading resumes Friday morning, the Indian stock market looks set for a muted start following mixed global cues, escalating trade tensions, and a corporate earnings miss from TCS. Here are the 8 key overnight developments that could steer investor sentiment:

Also Read: Trump Announces 35% Tariff on Canadian Imports Amid Fentanyl Dispute and Trade Tensions

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1️⃣ Gift Nifty Signals Weak Opening

Gift Nifty was trading around 25,277, reflecting a 144-point discount from the Nifty Futures close, signaling a negative open for benchmarks Sensex and Nifty 50.

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2️⃣ Asian Markets Mixed

Asian indices showed cautious optimism:

• Nikkei 225: Flat
• Topix: +0.41%
• Kospi: +0.19%
• Kosdaq: +0.50%
• Hang Seng Futures: Indicating mild gains

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3️⃣ Wall Street Hits Record Highs

Also Read: Microsoft Stock Upgraded — Could AI And Cloud Boom Fuel Major Gains Ahead?

Despite global worries, US indices climbed:

• Dow Jones: +192 pts (44,650.64)
• S&P 500: Record close at 6,280.46
• Nasdaq: New high at 20,630.67

Mega-caps led the rally:

• Nvidia surpassed $4 trillion valuation
• Tesla jumped 4.7%
• Airline stocks soared (Delta +12%, United +14.3%, American +12.7%)

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4️⃣ Trump Tariff Shock

US President Donald Trump announced steep tariffs:

• 35% on Canadian imports starting next month
• Blanket 15–20% tariffs on most other trade partners

This move may disrupt global trade flows and impact emerging markets like India. BRICS nations, including Brazil and India, are likely to retaliate.

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5️⃣ US Jobless Claims Beat Forecast

In a sign of labor market strength:

• Initial jobless claims fell to 227,000, a 7-week low
• Economists had forecast 235,000

This supports expectations of a hawkish Fed tone going forward.

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6️⃣ TCS Q1 FY26 Results: Mixed Bag

India’s largest IT services firm Tata Consultancy Services (TCS) reported:

• Net profit: ₹12,760 crore (+4.38% QoQ)
• Revenue: ₹63,437 crore (-1.6% QoQ)
• EBIT margin: Improved to 24.5% from 24.2%

The drop in top-line revenue surprised analysts. An interim dividend of ₹11/share was declared.

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7️⃣ Bitcoin Nears Record High

Driven by institutional inflows:

• Bitcoin surged to $116,608.78, now at $115,561 (+4%)
• Ethereum climbed 6% to $2,932.86

Bitcoin continues to show signs of bullish momentum.

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8️⃣ Crude Oil Prices Stabilize

After a sharp 2% drop:

• Brent Crude: +0.34% at $68.87/barrel
• WTI Crude: +0.47% at $66.88/barrel

Investors are monitoring demand signals amid growing global trade tension and recessionary fears.

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🏁 Outlook

With the earnings season heating up, investors should remain selective and brace for increased volatility due to Trump’s trade stance, global central bank cues, and sector-specific earnings releases.

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