Indian Stock Market Update: Top Losers Include Union Bank of India and Vedanta, While Sterling and Wilson Renewable Energy Leads Gainers
On July 9, the Indian stock market saw Union Bank of India and Vedanta among the top losers due to various factors, while Sterling and Wilson Renewable Energy emerged as the top gainer. The market closed with a marginal loss as investors reacted to global trade concerns and domestic developments.
The Indian stock market resumed its losing streak in Wednesday's trade after a brief rally in the previous session. Investors were concerned about U.S. President Donald Trump’s trade regime and weak Chinese inflation data. The Nifty 50 ended with a 0.19% decline at 25,475 points, while the S&P BSE Sensex fell 0.21% to 83,536 points. The broader markets closed mixed, with the Nifty Midcap 100 slipping 0.13% and the Nifty Smallcap 100 index gaining 0.60%.
Uncertainty over the potential trade deal between India and the U.S. and Trump’s tariff warnings to several nations made investors risk averse. Trump announced a 50% levy on copper imports and hinted at more sector-specific tariffs. Stocks like Union Bank of India, Hindustan Copper, GAIL (India), Brigade Enterprises, Max Healthcare Institute, and Phoenix Mills corrected sharply.
Vedanta’s share price fell following a report by Viceroy Research on alleged financial irregularities. On the positive side, Sterling and Wilson Renewable Energy, Metropolis Healthcare, Niva Bupa Health Insurance Company, and others posted healthy gains.
According to the source: Mint.
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