Indices trade with minor gains; European mrkt advance
IT, Auto and oil & gas shares advanced while realty, private bank and metal shares declined.
At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 89.96 points or 0.11% to 77,744.68. The Nifty 50 index added 31.15 points or 0.13% to 24,281.35.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index shed 0.33% and the BSE 250 SmallCap Index fell 0.64%.
The market breadth was weak. On the BSE, 1,577 shares rose and 2,476 shares fell. A total of 217 shares were unchanged.
Gainers & Losers:
Wipro (up 2.50%), Tech Mahindra (up 2.24%), Infosys (up 1.77%), Coal India (up 1.61%) and Max Healthcare Institute (up 1.59%) were the major Nifty50 gainers.
Adani Ports & Special Economic Zone (down 3.28%), Shriram Finance (down 2.19%), Eternal (down 2.12%), HDFC Life Insurance Company (down 1.50%) and Jio Financial Services (down 1.39%) were the major Nifty50 losers.
Stocks in Spotlight:
SML Mahindra hit the 20% upper circuit after its board approved the acquisition of Mahindra & Mahindra's Truck and Bus Division (MTBD) on a slump sale basis for Rs 525 crore, subject to working capital adjustments. The acquisition covers MTBD's employees, assets, intellectual property, licences, permits, contracts and liabilities as a going concern.
Syngene International slumped 5.15% after the company reported a weak performance for the quarter ended 30 June 2026 (Q1 FY27). The company reported a net loss of Rs 9 crore in Q1 FY27 after exceptional items, compared with a profit of Rs 87 crore in Q1 FY26. Before exceptional items, profit after tax fell 98.9% YoY to Rs 1 crore from Rs 87 crore. Revenue from operations declined 15.9% YoY to Rs 736 crore in Q1 FY27 from Rs 875 crore in the corresponding quarter last year.
Jagsonpal Pharmaceuticals added 3.69% after the company reported a 22.15% year-on-year increase in standalone net profit to Rs 13.18 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 10.79 crore in Q1 FY26. Revenue from operations grew 8.76% YoY to Rs 82.23 crore during the quarter from Rs 75.60 crore in Q1 FY26.
V-Guard Industries soared 5.71% after the company?s consolidated net profit climbed 76.37% to Rs 130.25 crore in Q1 FY27 from Rs 73.85 crore in Q1 FY26. Revenue from operations increased 23.5% YoY to Rs 1,810.65 crore in Q1 FY27, reflecting broad-based growth across product categories and geographies.
Chalet Hotels fell 3.47% after the company?s consolidated net profit tanked 57.60% to Rs 86.12 crore on 42.73% decrease in revenue from operations to Rs 512.27 crore in Q1 FY27 over Q1 FY26.
MTAR Technologies hit the 5% upper circuit after the company reported a sharp jump in earnings for the quarter ended 30 June 2026 (Q1 FY27). The company's profit after tax surged 364.8% year-on-year to Rs 50.2 crore in Q1 FY27 from Rs 10.8 crore in Q1 FY26. Revenue from operations soared 130.4% YoY to Rs 360.7 crore in Q1 FY27 from Rs 156.6 crore in the corresponding quarter last year.
Bajaj Housing Finance declined 1.26%. The company has reported 23% rise in net profit to Rs 715 crore on a 16% increase in net total income to Rs 1,175 crore in Q1 FY27 as compared with Q1 FY26. Net interest income (NII) rose by 9% to Rs 968 crore in Q1 FY27 from Rs 887 crore in Q1 FY26.
Redington surged 8.92% after the company reported record financial results for the quarter ended 30 June 2026 (Q1 FY27). The company's profit after tax jumped 76.6% year-on-year (YoY) to Rs 486 crore in Q1 FY27 from Rs 275.3 crore in Q1 FY26. Revenue from operations rose 34.6% YoY to Rs 34,922.5 crore in Q1 FY27 from Rs 25,952.0 crore in the corresponding quarter last year.
Global Market:
European market mostly advanced despite escalating tensions in the U.S.-Iran conflict overnight.
Asian market struggled for direction on Thursday, nursing steep losses for the week on mounting investor jitters around the AI trade.
Further, a divided Federal Reserve kept interest rates steady, leaving bond markets questioning where rates are headed
In the commodity market, brent futures jumped $90 per barrel as fighting in the Middle East escalated, although data showed tankers continued to make their way out of the region despite the continued missile and drone strikes.
Overnight in the US, stocks tumbled for a myriad of reasons Wednesday, but mostly because the bond market signaled the Federal Reserve could be falling behind on the inflation fight as the central bank chose to keep interest rates unchanged.
The Dow Jones Industrial Average closed 1,153.18 points lower, or 2.19%, at 51,594.14 for its worst decline since April 2025. The S&P 500 slid 1.52% to end the day at 7,316.15. The Nasdaq Composite fell 1.74% to 24,442.94, ending the session more than 10% off its all-time high.
The Fed kept to the sidelines in its latest rate decision, and the bond market responded with the 10-year Treasury yield jumping 7 basis points to above 4.67%. The 30-year Treasury yield soared 10 basis points to above 5.2%, hitting its highest level since 2007.
In a post-meeting media conference, Fed Chair Kevin Warsh vowed to contain inflation but declined to offer any guidance on what action would be needed by the central bank.
Warsh noted that bond yields since the Fed's last monetary policy meeting had risen notably as investors have priced in interest rate increases. The Fed Chair welcomed that move, even while saying it did not mean the central bank needed to ratify it with action.
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