Domestic equity indices remained flat and were trading in negative territory in late morning deals on account of selling in Bharat Electronics, Tech Mahindra, Ultratech Cement, Eternal and Maruti Suzuki companies’ stocks. Weak cues from other Asian markets weighed on the sentiments.  Traders were cautious after US Treasury Secretary Scott Bessent's comments that tariffs will be enforced starting August 1 for countries that haven't finalised an agreement with the Trump administration. Traders remained sidelines ahead of first quarter earnings season for FY26. Tata Consultancy Services (TCS) will kick off the results season with its Q1 numbers scheduled for July 10. Other key earnings include Avenue Supermarts on July 11, HCL Technologies on July 14, and Tech Mahindra on July 16. On the BSE sectoral front, traders were seen pilling up positions in FMCG, Utilities, Oil & Gas, Energy and Consumer Durable, while selling was witnessed in Telecom, Basic Materials, Metal, IT and TECK.

On the global front, Asian markets were trading mostly in red after President Donald Trump threatened an additional 10% tariff on countries that align with the ‘Anti-American policies of BRICS’. Back home, in the stock specific development, FSN E-Commerce Ventures rose on strong GMV growth guidance for Q1FY26.

The BSE Sensex is currently trading at 83387.36, down by 45.53 points or 0.05% after trading in a range of 83262.23 and 83516.82. There were 12 stocks advancing against 18 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.04%, while Small cap index was down by 0.24%.

The top gaining sectoral indices on the BSE were FMCG up by 1.23%, Utilities up by 0.68%, Oil & Gas up by 0.56%, Energy up by 0.43% and Consumer Durables up by 0.30%, while Telecom down by 0.98%, Basic Materials down by 0.58%, Metal down by 0.55%, IT down by 0.40% and TECK down by 0.35% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 2.64%, Asian Paints up by 1.37%, NTPC up by 0.86%, ITC up by 0.80% and Trent up by 0.79%. On the flip side, Bharat Electronics down by 1.74%, Tech Mahindra down by 1.41%, Ultratech Cement down by 1.15%, Eternal down by 1.09% and Maruti Suzuki down by 0.98% were the top losers.

Meanwhile, Economic think tank Global Trade Research Initiative (GTRI) has cautioned that allowing genetically modified (GM) farm products such as soybean meal and distillers dried grains with solubles (DDGS) for animal feed from the US under the proposed trade pact would have implications for India as it may affect the country's agri exports to regions like the European Union (EU). India and the US are negotiating an interim trade pact, which is expected to be announced before July 9. DDGS is a by-product made during ethanol production, usually from corn or other grains. The EU has strict GM labelling rules and strong consumer resistance to GM-linked products. Even though GM feed is permitted, many European buyers prefer fully GM-free supply chains. 

GTRI Founder Ajay Srivastava said India's fragmented agri-logistics and lack of segregation infrastructure make cross-contamination likely, risking trace GM presence in export consignments. He said ‘this could lead to shipment rejections, higher testing costs, and erosion of India's GMO-free image, especially in sensitive sectors like rice, tea, honey, spices, and organic foods. Without robust traceability and labeling systems, GM feed imports could hurt India's export competitiveness in the EU’. 

He further said genetically modified crops are created by inserting specific genes, often from bacteria, viruses, other plants, or occasionally animals, into a plant's DNA to introduce new traits, such as pest resistance or herbicide tolerance. For instance, the BT gene from the bacterium Bacillus Thuringiensis enables the plant to produce a protein toxic to certain pests. Other genes, including those from soil bacteria, have been used to make crops resistant to herbicides. He added that while GM crops are biologically plant-based and function as vegetarian food, the fact that some contain genes of animal origin means they may not be acceptable to communities or individuals that adhere strictly to religious or ethical definitions of vegetarianism.  

The CNX Nifty is currently trading at 25452.45, down by 8.55 points or 0.03% after trading in a range of 25407.25 and 25489.80. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Hindustan Unilever up by 2.67%, Asian Paints up by 1.42%, JIO Financial up by 1.20%, Tata Consumer up by 1.02% and Eicher Motors up by 0.95%. On the flip side, Bharat Electronics down by 1.72%, Tech Mahindra down by 1.34%, Eternal down by 1.28%, Ultratech Cement down by 1.15% and Hindalco down by 1.12% were the top losers.

Asian markets were trading mostly in red; Hang Seng declined 62.93 points or 0.26% to 23,853.13, Jakarta Composite plunged 3.47 points or 0.05% to 6,861.72, Shanghai Composite weakened 5.43 points or 0.16% to 3,466.89, Nikkei 225 slipped 235.94 points or 0.59% to 39,574.94 and Taiwan Weighted lost 176.01 points or 0.78% to 22,371.49. However, Straits Times rose 12.53 points or 0.31% to 4,026.15 and KOSPI increased 11.59 points or 0.38% to 3,065.87.