Sensex slips 388 pts, Nifty ends below 24,500 as crude boils
Key benchmark indices ended lower on Tuesday as rising crude oil prices and renewed geopolitical uncertainty weighed on investor sentiment. Oil prices climbed near the $90-a-barrel mark as hopes of a US-Iran peace agreement faded, raising concerns over India's import bill, inflation and corporate margins. Weak global market cues added to the pressure. The Nifty closed below the 24,500 level, dragged by weakness in FMCG and metal stocks, while pharma and healthcare shares witnessed buying interest.
The S&P BSE Sensex declined 388.19 points or 0.49% to 78,154.25. The Nifty 50 index lost 112.10 points or 0.46% to 24,471.70.
Mahindra & Mahindra (down 1.62%), Bharti Airtel (down 1.43%) and Axis Bank (down 1.40%) were major Nifty drags today.
In the broader market, the BSE 150 MidCap Index was flat and the BSE 250 SmallCap Index jumped 0.24%.
The market breadth was negative. On the BSE, 2,033 shares rose and 2,279 shares fell. A total of 209 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.73% to 11.79.
Numbers to Track:
In the commodities market, Brent crude for October 2026 settlement rose $2.14 or 2.44% to $89.86 a barrel. Crude oil prices jumped as negotiations between the US and Iran over a potential peace deal and the reopening of the Strait of Hormuz reached an impasse.
The yield on India's 10-year benchmark federal paper rose 0.43% to 6.795 compared with the previous session close of 6.766.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.4450 compared with its close of 95.3050 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.50% to Rs 153,869.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 99.85.
The United States 10-year bond yield rose 0.79% to 4.735.
Global Markets:
Most European shares declined on Tuesday amid renewed US-Iran tensions and weak UK retail sales data. UK retail sales growth slowed sharply in July, with total sales rising 1.3% year-on-year, compared with 2.5% growth a year earlier and 1.9% in June 2026. Food sales increased 3.8%, supported by the tail end of the World Cup, while non-food sales declined 0.7%.
Most Asian indices ended higher, although uncertainty persisted over the global inflation outlook.
US President Donald Trump on Monday responded to Iran's conditions for a peace deal by demanding that Tehran pay compensation for people killed in wars, attacks and protests. The latest exchange of demands is likely to complicate efforts to reopen the crucial waterway.
Earlier, Iran had called on Washington to meet several conditions, including compensation for damage caused since the US and Israel launched strikes on its territory more than five months ago.
Following the developments, Brent crude futures rose towards the $90-a-barrel mark, while US crude futures climbed to $82.42 a barrel. Both contracts touched their highest levels since 31 July after rallying around 5% on Monday.
The rise in fuel costs has increased focus on the US consumer price report due on Wednesday. Economists expect headline consumer prices to rise 0.1% month-on-month, while core prices are projected to increase 0.2%.
A stronger-than-expected inflation reading could revive expectations of a Federal Reserve rate hike next month, with market pricing currently reflecting roughly even odds.
On Wall Street, the Nasdaq and S&P 500 closed lower on Monday, weighed by declines in Intel and other chipmakers, as investors became less confident about a deal to reopen the Strait of Hormuz.
The S&P 500 fell 0.06% to 7,753.12, while the Nasdaq Composite declined 0.32% to 26,605.36. The Dow Jones Industrial Average slipped 0.11% to 53,976.04.
Stocks in Spotlight:
Matrimony.com surged 10.34% after reporting strong financial performance for the quarter ended 30 June 2026. On a consolidated basis, net profit increased 127.5% YoY and 96.2% QoQ to Rs 19.10 crore in Q1 FY27. Revenue rose 13.2% YoY and 11.7% QoQ to Rs 130.50 crore during the quarter.
Kolte-Patil Developers surged 11.48% after reporting strong financial performance for the quarter ended 30 June 2026. On a consolidated basis, adjusted net profit stood at Rs 146.26 crore in Q1 FY27, compared with an adjusted net loss of Rs 16.99 crore in Q1 FY26 and Rs 15.98 crore in Q4 FY26. Net sales rose 1,016.5% YoY and 269.9% QoQ to Rs 919.54 crore during the quarter.
Ind-Swift Laboratories surged 20% after reporting strong financial performance for the quarter ended 30 June 2026. On a consolidated basis, adjusted net profit jumped 183.5% YoY and 28.9% QoQ to Rs 24.86 crore in Q1 FY27. Net sales rose 25.3% YoY and 12.8% QoQ to Rs 191.45 crore during the quarter.
Triveni Turbine declined 5.63% after the company reported a 20.78% decline in consolidated net profit to Rs 51.1 crore, despite a 19.23% increase in revenue from operations to Rs 442.7 crore in Q1 FY27 over Q1 FY26.
Vodafone Idea fell 0.23%. On a consolidated basis, the telco's adjusted net loss narrowed to Rs 5361.99 crore in Q1 FY27, from a loss of Rs 6608.1 crore in Q1 FY26 and a loss of Rs 5513 crore in Q4 FY26. Revenue from operations rose 6.0% YoY and 3.2% QoQ to Rs 11,689 crore during the quarter.
Bharat Forge fell 2.01 % after the company reported a consolidated net loss of Rs 89.73 crore in Q1 FY27 as against a net profit of Rs 283.68 crore in Q1 FY26. Revenue for the period under review was Rs 4,639.94 crore, up 18.7% YoY.
Bosch rallied 3.86%. The company reported 36.8% fall in consolidated net profit to Rs 704.90 crore in Q1 FY27, down 36.80% from Rs 1,115.30 crore in Q1 FY26. Revenue for the period under review was Rs 5,841.90 crore, up 22% YoY. The growth in revenue was driven by higher demand in passenger cars and off-highway segment
Finolex Cables surged 14.64% after the company reported a 59.4% year-on-year (YoY) jump in standalone net profit to Rs 221.28 crore in Q1 FY27 from Rs 138.88 crore in Q1 FY26. Revenue from operations increased 44.26% YoY to Rs 2,013.15 crore during the quarter.
Initial Public Offer (IPO):
Milky Mist Diary Food received bids for 6,17,02,513 shares as against 8,17,98,244 shares on offer, according to stock exchange data at 16:30 IST on 11 August 2026. The issue was subscribed 0.75 times.
The issue opened for bidding on 11 August 2026 and will close on 13 August 2026. The price band of the IPO is fixed between Rs 133 and 140 per share. An investor can bid for a minimum of 107 equity shares and multiples thereof.
Dhoot Transmission received bids for 9,47,10,944 shares as against 2,49,56,363 shares on offer, according to stock exchange data at 16:30 IST on 11 August 2026. The issue was subscribed 3.80 times.
The issue opened for bidding on 10 August 2026 and will close on 12 August 2026. The price band of the IPO is fixed between Rs 829 and 871 per share. An investor can bid for a minimum of 17 equity shares and multiples thereof.
Molbio Diagnostics received bids for 2,45,26,836 shares as against 81,58,529 shares on offer, according to stock exchange data at 16:30 IST on 11 August 2026. The issue was subscribed 3.01 times.
The issue opened for bidding on 10 August 2026 and will close on 12 August 2026. The price band of the IPO is fixed between Rs 768 and 807 per share. An investor can bid for a minimum of 18 equity shares and multiples thereof.
Technocraft Ventures received bids for 31,88,07,160 shares as against 83,17,190 shares on offer, according to stock exchange data at 16:30 IST on 11 August 2026. The issue was subscribed 38.33 times.
The issue opened for bidding on 07 August 2026 and will close on 11 August 2026. The price band of the IPO is fixed between Rs 200 and 212 per share. An investor can bid for a minimum of 70 equity shares and multiples thereof.
Leap India received bids for 95,97,11,988 shares as against 11,49,91,735 shares on offer, according to stock exchange data at 16:30 IST on 11 August 2026. The issue was subscribed 8.35 times.
The issue opened for bidding on 07 August 2026 and will close on 11 August 2026. The price band of the IPO is fixed between Rs 151 and 159 per share. An investor can bid for a minimum of 94 equity shares and multiples thereof.
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