Benchmarks trade in negative terrain; oil & gas shares decline

The key equity indices traded with moderate losses in mid-morning trade as investors remained cautious ahead of the weekly expiry of BSE derivatives contracts. Market participants are also assessing a slew of Q1 FY27 earnings announcements, with sector- and stock-specific movements remaining in focus amid the ongoing earnings season. Investors are also keeping a close watch on the progress of the monsoon, which remains an important factor for the broader economic outlook.

The Nifty traded below the 24,350 mark, while sentiment remained subdued amid a lack of strong directional cues. Investors continued to monitor movements in crude oil prices, Gold and developments on the global geopolitical front for further indications on the market's near-term trajectory.

Oil & gas shares declined after gaining for the previous two consecutive trading sessions.

At 11:25 IST, the barometer index, the S&P BSE Sensex declined 208.12 points or 0.27% to 77,759.18. The Nifty 50 index fell 104.70 points or 0.43% to 24,332.75.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.04% and the BSE 250 SmallCap Index added 0.13%.

The market breadth was strong. On the BSE, 2,080 shares rose and 1,870 shares fell. A total of 263 shares were unchanged.

Initial Public Offer (IPO):

Shiprocket received bids for 15,08,33,760 shares as against 9,44,36,030 shares on offer, according to stock exchange data at 11:15 IST on 13 August 2026. The issue was subscribed 1.60 times.

The issue opened for bidding on 12 August 2026 and will close on 14 August 2026. The price band of the IPO is fixed between Rs 92 and 97 per share. An investor can bid for a minimum of 154 equity shares and multiples thereof.

Behari Lal Engineering received bids 2,79,17,448 shares as against 74,12,769 shares on offer, according to stock exchange data at 11:15 IST on 13 August 2026. The issue was subscribed 3.77 times.

The issue opened for bidding on 12 August 2026 and will close on 14 August 2026. The price band of the IPO is fixed between Rs 271 and 285 per share. An investor can bid for a minimum of 52 equity shares and multiples thereof.

Milky Mist Diary Food received bids for 31,80,23,153 shares as against 8,17,98,244 shares on offer, according to stock exchange data at 11:15 IST on 13 August 2026. The issue was subscribed 3.89 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.

Buzzing Index:

The Nifty Oil & Gas Index declined 0.80% to 11,203.45. The index rose 0.21% in the past two trading sessions.

Chennai Petroleum Corporation (down 4.65%), Bharat Petroleum Corporation (down 1.56%), Petronet LNG (down 1.5%), GAIL (India) (down 1.46%), Reliance Industries (down 1.2%), Oil & Natural Gas Corpn (down 0.2%), Indian Oil Corporation (down 0.18%), Adani Total Gas (down 0.14%), Castrol India (down 0.1%) declined.

Stocks in Spotlight:

Lenskart Solutions rose 2.47% after the company reported strong Q1 FY27 performance, with robust growth in revenue, EBITDA and profit. On a consolidated basis, adjusted net profit increased 239.83% YoY and 10.76% QoQ to Rs 221.84 crore in Q1 FY27. Net sales increased 43.27% YoY and 7.89% QoQ to Rs 2,714.18 crore.

RailTel Corporation of India shed 0.17%. The company announced that it has received a work order worth Rs 63 crore from Deendayal Port Authority (DPA).

Grasim Industries declined 1.77%. The company has reported 51% rise in consolidated net profit to Rs 2,146 crore on a 21% increase in revenue to Rs 48,716 crore in Q1 FY27 as compared with Q1 FY26.

Global Market:

Asian market advanced on Thursday after U.S. inflation data came in as expected, dampening expectations of further near-term Federal Reserve rate hikes.

U.S. consumer prices increased 0.1% in July, in line with widely reported expectations, data showed on Wednesday. The small increase could weaken the argument for an interest rate increase ⁠from the Fed next month. Money markets are predicting a 40% chance of a rate hike, down from 54% a week ago, according to CME Group's FedWatch.

Meanwhile, oil held near $89 a barrel as Washington and Tehran remained deadlocked over efforts to end the Gulf war.

Wall Street ended mixed overnight, with the Nasdaq Composite and the S&P 500 eking out small gains while the Dow Jones Industrial Average slipped. Upbeat quarterly results from CoreWeave and other AI infrastructure firms coupled with mild inflation data provided support to the investor sentiment.

The S&P 500 climbed 0.26% to end the session at 7,748.50 points. The Nasdaq gained 0.54% to 26,588.49 points for the session, while the Dow Jones Industrial Average declined 0.04% ⁠to 53,770.27 points.

CoreWeave surged 19% after the AI cloud company lifted its annual capital spending forecast and topped second-quarter earnings estimates.

Data center operators also rose, with IREN gaining almost 10% and Applied Digital up 4.9%. Data center company Nebius Group jumped 34%, helped by second-quarter results that beat expectations.

Super Micro Computer surged 19% after the AI server maker forecast fiscal 2027 revenue above Wall Street expectations. Chipmakers also gained, with Nvidia rising 3% and Micron Technology adding 4.9%.

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