Nifty trade below 24,650 in early trade; breadth strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 250.76 points or 0.32% to 78,704.00. The Nifty 50 index fell 29 points or 0.12% to 24,607.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index declined 0.16% and the BSE 250 SmallCap Index lost 0.03%.
The market breadth was strong. On the BSE, 1,734 shares rose and 1,405 shares fell. A total of 194 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 17.86 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,013.60 crore in the Indian equity market on 06 August 2026, provisional data showed.
Stocks in Spotlight:
Life Insurance Corporation of India (LIC) rose 1.15% after the company reported 22.81% increase in standalone net profit to Rs 13,492.03 crore in Q1 FY27, compared with Rs 10,986.51 crore in Q1 FY26. Total income increased 7.01% YoY to Rs 2,40,390.96 crore in the quarter ended 30th June 2026.
Britannia Industries advanced 3.68% after the company reported 13.56% jump in consolidated net profit to Rs 591.35 crore in Q1 FY27 compared with Rs 520.72 crore posted in corresponding quarter last year. Net sales rose 8.17% YoY to Rs 4,999.97 crore in Q1 FY27.
Fortis Healthcare declined 1.25%. The company?s consolidated net profit increased 2.26% to Rs 259.23 crore in Q1 FY27, compared with Rs 250.67 crore in Q1 FY26. Net sales jumped 17.46% YoY to Rs 2545.03 crore in Q1 FY27.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.25% to 6.785 compared with the previous session close of 6.768.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.2625 compared with its close of 95.2250 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.43% to Rs 1,49,500.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 99.97.
The United States 10-year bond yield rose 0.28% to 4.683.
In the commodities market, Brent crude for October 2026 settlement jumped 89 cents or 1.08% to $83.38 a barrel.
Global Markets:
Asian markets traded higher on Friday as investor sentiment improved on hopes that a deal to reopen the Strait of Hormuz would help ease crude oil prices and temper inflationary pressures.
China's exports grew more than expected in July, although the pace moderated from June's robust expansion, supported by strong global demand for high-tech components.
Official customs data released on Friday showed that exports rose 23% year-on-year in U.S. dollar terms in July, easing from 27% growth in June?the fastest pace since October 2021. Imports increased 27.5% from a year earlier, compared with a 36% jump in June, which had marked the strongest growth in five years.
China's trade surplus stood at $112.5 billion in July, narrowing from $125.6 billion recorded in June.
Oil rose Friday amid worries over supply disruptions after Iran published a restrictive draft plan for the Strait of Hormuz.
Futures for international benchmark Brent crude for October delivery gained 1.25% to $83.52 a barrel. U.S. West Texas Intermediate futures for September advanced 1.10% at $78.14 per barrel.
According to the apparent draft plan published by Iran, the country would ban U.S. and Israeli ships from transiting the Strait. Until compensation is paid, other nations that have harmed Iran would not be allowed to transit, according to the draft.
Overnight on Wall Street, the Dow fell more than 460 points, or 0.9% to 53,885.10, breaking a five-day winning run. The S&P 500 slid 0.2% to 7,709.36, while the Nasdaq Composite dipped 0.1% to 26,348.35.
Investors will closely watch the employment report due on Friday.
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