Top Gainers and Losers on July 11: IREDA, BSE, BEML, TCS, MCX among top losers today | Stock Market News
Indian equities, already struggling to gain momentum amid resurfacing global trade tensions, witnessed a sharp sell-off in Friday’s session, July 11, as weaker-than-expected June quarter results from TCS dampened investor sentiment, triggering a broader decline across IT stocks and setting a weak tone for the earnings season ahead.
While the rally in consumer goods and pharma stocks provided some support, it wasn’t enough to lift the indices higher, as losses in tech, banking, and auto stocks deepened toward the close. As a result, the Nifty 50 declined 0.81% to settle at 25,149 points, ending the week with a 1.23% drop.
The S&P BSE Sensex also ended lower, falling 0.83% to close at 82,500 points, and registered a weekly loss of over 1.06%. Losses in the broader markets were even steeper, with the Nifty Midcap 100 and Nifty Smallcap 100 indices each declining nearly 2% for the week.
Apart from the weak earnings from TCS, sentiment was also weighed down by comments from U.S. President Donald Trump, who said he would impose a 35% tariff on imports from Canada next month and was considering blanket tariffs of 15% to 20% on most other trade partners.
Earlier in the week, the administration also announced 50% duties on copper imports and Brazilian goods, all set to take effect on the same date, and also announced a plan to impose a 200% tariff on pharma imports.
On Wednesday, Trump sent letters dictating new U.S. tariff rates on goods from at least six more countries, including the Philippines and Iraq. This comes after Trump posted letters setting new duties earlier this week to the leaders of 14 other countries, including South Korea and Japan.
Meanwhile, New Delhi is trying to finalize a deal with the US. It has been reported that an Indian trade delegation is likely to visit Washington in the coming days for further talks. If the negotiations succeed, India would join a short list of countries—including Vietnam, China, and the UK—that have secured trade agreements with Washington.
Top laggards as Indian stock market sees sharp sell-off today
The sharp sell-off in the Indian stock market was led by the IT sector, while on the stock-specific front, IREDA emerged as the worst performer, plunging nearly 6% after investors were disappointed with the company’s June quarter numbers, released post-market hours on Thursday.
The company reported a 35% year-on-year decline in net profit for Q1FY26, coming in at ₹246.88 crore, compared to ₹383.7 crore in the same quarter last year. Metropolis Healthcare, meanwhile, extended losses for a second straight session, falling 4.53% as profit booking continued after a sharp recent rally.
BSE also saw its shares drop another 4% after a Mint report stated that the capital market regulator may expand its probe into alleged manipulation by Jane Street to include Sensex options contracts.
TCS and Tata Elxsi ended the session down 3.4% and 1.5%, respectively, after their June quarter earnings fell short of analyst estimates.
Other stocks such as Metropolis Healthcare, Elecon Engineering, Hitachi Energy India, Raymond Lifestyle, BEML, Sammaan Capital, Amber Enterprises, Natco Pharma, RattanIndia Enterprises, MCX, and over 100 stocks from the Nifty 500 pack ended the session with losses of over 2%.
Stocks that outperformed despite a sharp crash in the Indian stock market
Even as the sell-off in the Indian stock market deepened during Friday’s session, some stocks managed to buck the trend, with Glenmark Pharmaceuticals emerging as the top performer, gaining nearly 15%.
The rally followed the company’s announcement on Thursday that its innovation arm, Ichnos Glenmark Innovation (IGI), had signed an exclusive licensing agreement with AbbVie for its lead investigational asset, ISB 2001, for use in oncology and autoimmune diseases—adding to the U.S. firm’s oncology portfolio.
HUL also saw its shares gain 5% following the announcement of Priya Nair as its new Managing Director and Chief Executive Officer (MD & CEO).
Extending its winning streak to a second straight session, Jaiprakash Power Ventures ended with a 3% gain and registered a fresh record high of ₹24.86 apiece during intraday trade.
Anand Rathi Wealth also ended higher, surging 4.5% in intraday trade on Friday, July 11, after the company reported strong financial performance for the quarter. In total, 45 constituents of the Nifty 500 closed the session with gains ranging between 1% and 4.5%.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
