Market turn rangebound; European mrkt decline
Realty, pharma and PSU Bank shares tumbled while FMCG and auto shares advanced.
At 13:26 IST, the barometer index, the S&P BSE Sensex, declined 534.87 points or 0.66% to 81,101.04. The Nifty 50 index dropped 151.50 points or 0.60% to 24,817.80.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 0.86% and the S&P BSE Small-Cap index fell 1.19%.
The market breadth was weak. On the BSE, 1,253 shares rose and 2,726 shares fell. A total of 167 shares were unchanged.
The domestic equity market will remain closed tomorrow on account of Ganesh Chaturthi.
Gainers & Losers:
Eicher Motors (up 2.95%), Hindustan Unilever (up 2.19%), Maruti Suzuki India (up 1.95%), Nestle India (up 1.62%) and Ultratech Cement (up 0.69%) were the major Nifty50 gainers.
Shriram Finance (down 3.36%), Sun Pharmaceuticals Industries (down 2.83%), Tata Steel (down 2.10%), Bajaj Finance (down 1.62%) and Adani Ports & Special Economic Zone (APSEZ) (down 1.60%) were the major Nifty50 Losers.
Stocks in Spotlight:
Ola Electric Mobility jumped 5.08% after the company secured certification under the Production Linked Incentive (PLI) scheme for its Gen 3 scooter portfolio.
Suraj Estate Developers fell 0.57%. The company said that it has acquired a prime 644 square meters land parcel at N.M. Joshi Marg, Lower Parel, Mumbai, for a total consideration of Rs 6.44 crore.
Protean eGov Technologies jumped 8.47% after the company secured an order worth Rs 1,160 crore from the Unique Identification Authority of India (UIDAI) to set up Aadhaar Kendras across the country.
Indusind Bank declined 1.48%. The bank?s said that its board has approved the appointment of Rajiv Anand as the managing director (MD) and chief executive officer (CEO) effective from August 25, 2025 for three years.
BLS International Services rallied 2.34% after the company has received a work order worth Rs 2,055.35 crore from Unique Identification Authority of India (UIDAI), New Delhi, Government of India.
Global Markets:
European markets declined as traders monitored the potential for a no confidence vote in the government next month.
The country?s three main opposition parties said they would not back a confidence vote called by Prime Minister Francois Bayrou for Sept. 8 over his budget plans.
Asia-Pacific markets mostly fell Tuesday, as investors weighed U.S. President Donald Trump?s escalatory rhetoric on tariffs.
President Donald Trump was quoted by the media on Monday that China has to give the United States magnets or we have to charge them 200% tariff or something amid a trade dispute between the two nations.
The US President vowed Monday to impose ?substantial? new tariffs and restrict U.S. chip exports for all countries that do not remove digital taxes and related regulations.
Donald Trump on Monday fired Federal Reserve Governor Lisa Cook, an unprecedented and significant escalation of his attacks on the U.S. central bank?s independence over its refusal to cut interest rates quickly.
President Trump, in a termination letter to Cook posted on a social media platform, reportedly cited allegations that she had made false statements on applications for home mortgages.
Wall Street stocks ended lower on Monday as investors parsed the outlook for U.S. interest rates. The S&P 500 declined 0.43% to end the session at 6,439.32 points. The Nasdaq declined 0.22% to 21,449.29 points, while the Dow Jones Industrial Average declined 0.77% to 45,282.47 points.
U.S. Federal Reserve Chair Jerome Powell hinted at the Jackson Hole Symposium that an interest-rate cut could be considered at the central bank's September meeting, citing recent labor market weakness.
These comments from Powell nudged major global research houses to reportedly revise their expectations, with some of them currently seeing a 25-basis-point reduction in borrowing costs next month.
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