Mumbai, Jul 2: The stock markets ended lower on Wednesday, as investor sentiment remained cautious due to US President Donald Trump's firm stand on the upcoming tariff deadline.

The nervousness led to a risk-off mood among investors, pulling the benchmark indices lower.

After rising to an intra-day high of 83,935.29, the Sensex lost momentum and closed at 83,409.69, down 287.6 points or 0.34 per cent.

The Nifty also declined by 88.45 points or 0.35 per cent to end the day at 25,453.4.

"Mixed global cues, particularly ahead of the impending tariff deadline, are driving investor caution,” Vinod Nair of Geojit Investments Limited said.

“Market attention is gradually shifting to crucial Q1 earnings, which have high expectations,” he added.

Nair added that the underlying trends such as robust macroeconomic fundamentals and increased government expenditure continue to support market resilience.

Among the Sensex stocks, the biggest losers were Bajaj Finserv, L&T, Bajaj Finance, HDFC Bank, and Bharat Electronics.

On the other hand, Tata Steel, Asian Paints, Ultratech Cement, Trent, Maruti, and Sun Pharma were among the top gainers.

Broader markets followed a similar trend. The Nifty Midcap100 index ended down by 0.14 per cent, while the Nifty Smallcap100 index slipped 0.41 per cent.

Sector-wise, Nifty Metal, Consumer Durables, Auto, IT, Pharma, and Healthcare managed to close in the green.

However, Nifty Realty, Financial Services, Bank, Oil & Gas, and Media dragged the overall sentiment with losses.

The total market capitalisation of all listed companies on the NSE stood at Rs 5.35 trillion.

Meanwhile, the India VIX, which measures market volatility, eased slightly by 0.66 per cent to settle at 12.44 points -- suggesting some cooling off in investor nervousness despite the day’s losses.

Gold traded in a narrow range as market awaits key US data releases. Comex Gold moved between $3327 – $3340, while MCX Gold traded between Rs 97,000 – Rs 97,400.

“The prices expected to remain in the broader range of Rs 96,500 – Rs 97,850 as participants price in potential dollar weakness and upcoming US data, including Non-Farm Payrolls (NFP), ADP non-farm employment, and unemployment figures,” Jateen Trivedi of LKP Securities stated.

(IANS)

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