Top Gainers and Losers on July 16: Patanjali Foods, Thermax, Swan Energy, Gland Pharma, NLC among top gainers today
The Indian stock market ended Wednesday’s trading session with mild gains, as the Nifty 50 edged up 0.08% to 25,215, while the Sensex closed 0.08% higher at 82,642 as the gains in public sector banks helped offset losses in metal stocks, which came under pressure due to a stronger dollar amid rising U.S. inflation.
The broader markets also ended flat, with the Nifty Midcap 100 and Nifty Smallcap 100 gaining 0.3% each. Among sectoral indices, the Nifty PSU Bank index emerged as the top performer, rising 1.81%, followed by Nifty Media, Nifty IT, and Nifty Realty, which gained 1.13%, 0.63%, and 0.50% respectively.
On the losing side, the Nifty Metal index ended with a decline of 0.54%
Donald Trump, on Tuesday, announced that 200% tariffs on pharma products would be implemented this month, contrary to his earlier claim that such measures were 12 to 18 months away. He also reiterated his threat of imposing 100% secondary tariffs on countries doing business with Russia—particularly those importing crude oil—which further weighed on market sentiment.
Markets have been moving within a narrow range over the past two months, amid uncertainty surrounding a potential India–U.S. trade deal. Meanwhile, the June quarter earnings season has begun without strong signs of robust earnings growth, prompting investors to remain cautious on equities.
Separately, on Tuesday, Trump announced a 19% tariff on goods from Indonesia under a new bilateral agreement and hinted that more trade deals are in the pipeline. He also suggested that India could be among the countries with which the U.S. may strike a deal before reciprocal tariffs are imposed on August 1.
