Sensex, Nifty rebound despite tariff threat; European mrkt advance
FMCG, media and private bank shares led the rally while oil & gas, pharma and realty shares declined.
At 13:29 IST, the barometer index, the S&P BSE Sensex advanced 206.67 points or 0.25% to 81,693.60. The Nifty 50 index added 68.45 points or 0.29% to 24,923.60.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 0.33% and the S&P BSE Small-Cap index fell 0.20%.
The market breadth was negative. On the BSE, 1,709 shares rose and 2,151 shares fell. A total of 171 shares were unchanged.
Gainers& Losers:
Hindustan Unilever (up 3.85%), Jio Financial Services (up 3.18%), Eternal (up 1.89%), Kotak Mahindra Bank (up 1.65%) and JSW Steel (up 1.32%) were the major Nifty50 gainers.
Adani Enterprises (down 1.18%), Dr Reddy?s Laboratories (down 0.94%), Reliance Industries (down 0.74%), Bharti Airtel (down .73%) and Titan Company (down 0.63%) were the major Nifty50 losers.
Hindustan Unilever (HUL) added 3.81% after the company?s consolidated net profit increased 5.97% to Rs 2,768 crore on 5% jump in revenue from operations to Rs 16,323 crore in Q1 FY26 over Q1 FY25.
Jio Financial Services gained 2.70% after the company?s board approved a fundraise via a preferential issue of 50 crore warrants, aggregating up to Rs 15,825 crore.
Stocks in Spotlight:
Mahindra & Mahindra rose 0.25%. The company?s standalone net profit surged 32% to Rs 3,449.84 crore in Q1 FY26 as against Rs 2,612.63 crore recorded in Q1 FY25. Revenue from operations increased 26.1% year on year (YoY) to Rs 34,083.23 crore in the quarter ended 30 June 2025. Total vehicle sales stood at 2,47,249 units in Q1 FY26, marking a 17% increase compared to 2,11,550 units sold in Q1 FY25.
Relaxo Footwears declined 4.69% after the company?s standalone net profit declined 13.02% to Rs 48.90 crore in Q1 FY26 as against Rs 56.22 crore in Q4 FY25. Revenue from operations shed 5.84% to Rs 654.49 crore in Q1 FY26 over Q4 FY25.
Sagility India surged 8.46% after the company?s consolidated net profit surged 566.49% to Rs 148.56 crore on a 25.8% jump in revenue from operations to Rs 1,538.94 crore in Q1 FY26 over Q1 FY25.
HEG zoomed 14.62% after the company?s consolidated net profit surged 354.99% to Rs 104.83 crore on 7.96% increase in revenue from operations to Rs 616.93 crore in Q1 FY26 over Q1 FY25.
Indus Towers tumbled 3.79% after the company reported 9.8% fall in consolidated net profit to Rs 1,736.8 crore in Q1 FY26 from Rs 1,925.9 crore recorded in Q1 FY25. Revenue from operations, however, increased by 9.1% YoY to Rs 8,057.6 crore in the June?25 quarter.
Global Markets:
European market advanced as investors looked ahead to key German inflation data along with with latest unemployment figures from Germany and EU.
Asian markets traded mostly lower on Thursday as after weakness in Chinese economic activity coupled with falling copper prices dampened investor sentiment.
Copper futures witnessed sharp sell-off after Trump said the U.S. will impose a 50% tariff on copper pipes and wiring. The details of the levy, though, fell short of the sweeping restrictions expected and left out copper input materials such as ores, concentrates and cathodes.
China's official NBS Manufacturing PMI dropped to 49.3 in July 2025 from June?s three-month high of 49.7, falling short of expectations and marking the fourth consecutive month of contraction in factory activity. It was the steepest decline since January, as output growth slowed, while both new orders and foreign sales saw their sharpest drops in three months.
The Bank of Japan?s policy decision remained on investor?s radar. Japan?s central bank is widely expected to stand pat on short-term interest rates at 0.5% for the fourth consecutive time, when its two-day policy meeting concludes later in the day.
Investors also assessed the U.S.′ blanket 15% tariffs on imports from South Korea. The U.S. President Donald Trump on Wednesday announced that Washington had reached a ?full and complete? trade deal with Seoul, setting blanket tariffs on the country?s exports to U.S. at 15%.
The S&P 500 closed lower on Wednesday and gave up its gain from earlier in the session after Federal Reserve Chair Jerome Powell threw some cold water on the prospects of a September rate cut.
The broad market index lost 0.12% to close at 6,362.90. The Nasdaq Composite added 0.15% to 21,129.67, while the Dow Jones Industrial Average fell 171.71 points, or 0.38%, to finish the session at 44,461.28.
The Federal Reserve's rate-setting committee voted 9-2 on Wednesday to hold interest rates steady for the fifth consecutive meeting, with two Fed governors dissenting for the first time in more than three decades.
Fed Chair Jerome Powell's comments after the decision undercut confidence that borrowing costs would begin to fall in September.
The U.S. economic growth rebounded more than expected in the second quarter, but that measurement grossly overstated the economy's health as declining imports accounted for the bulk of the improvement and domestic demand increased at its slowest pace in two and a half years.
The US economy likely grew at an annualized rate of 2.4% in the second quarter of 2025, rebounding from a 0.5% contraction in the first quarter which was the first decline in three years.
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