Nifty below 24,600 level; FMCG shares decline
At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 221.73 points or 0.28% to 78,650.68. The Nifty 50 index fell 34.55 points or 0.14% to 24,579.50.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.44% and the BSE 250 SmallCap Index rose 0.79%.
The market breadth was strong. On the BSE, 2,352 shares rose and 1,359 shares fell. A total of 219 shares were unchanged.
RBI MPC meeting:
The Reserve Bank of India (RBI), at its monetary policy meeting held from 3 August to 5 August 2026, kept the policy repo rate unchanged at 5.25% and retained its 'neutral' policy stance. RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) unanimously voted to leave the benchmark policy rate unchanged.
The MPC raised its FY27 GDP growth forecast to 6.7% from 6.6% earlier. It projected FY27 CPI inflation at 5%, 10 basis points lower than the previous estimate, while core inflation was expected to average 4.3% during the year. Quarterly CPI inflation projections were placed at 5.3% for Q1, 4.7% for Q2, 5.9% for Q3 and 5.5% for Q4.
Malhotra said the impact of El Nino on the temporal and spatial distribution of rainfall remained a key risk to the inflation outlook. He added that global crude oil prices continued to witness sharp volatility due to geopolitical developments, clouding the near-term inflation trajectory. While underlying inflationary pressures remained contained, the risk of second-round effects from higher food, fuel and other input costs feeding into broader inflation persisted.
The MPC's decision came amid a challenging macroeconomic environment, with the lingering impact of the US-Iran conflict on domestic growth and inflation. However, easing crude oil prices and hopes of a peace deal improved market sentiment.
New Listing:
Shares of Manipal Health Enterprises were currently trading at Rs 650.50 at 10:15 IST on the BSE, representing a premium of 10.25% as compared with the issue price of Rs 590.
The stock debuted at Rs 655, marking a premium of 11.02% to the issue price.
So far, the stock has hit a high of Rs 660 and a low of Rs 634.55. On the BSE, over 26.91 lakh shares of the company were traded in the counter so far.
Buzzing Index:
The Nifty FMCG index fell 0.40% to 49,327.90. The index declined 1.35% in the two consecutive trading sessions.
Marico (down 1.9%), ITC (down 1.02%), Nestle India (down 0.79%), United Breweries (down 0.73%), Hindustan Unilever (down 0.52%), Patanjali Foods (down 0.51%), Tata Consumer Products (down 0.38%) and Britannia Industries (down 0.37%) fell.
Stocks in Spotlight:
Bharti Airtel added 1.11% after the telecom major reported a 41.63% year-on-year (YoY) jump in consolidated net profit to Rs 8,424.29 crore for the quarter ended 30 June 2026 (Q1 FY27). Consolidated revenue from operations increased 18.35% YoY to Rs 58,539.1 crore, aided by robust growth across its India and Africa operations.
Arvind Fashions rose 1.32%. The company announced that Anurag Pandey, chief executive officer (CEO) of its Footwear division, has tendered his resignation due to personal reasons. The company said Pandey will step down from his position with effect from the close of business hours on 30 September 2026.
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