Benchmarks trade in negative terrain; auto shares slump

The key equity benchmarks traded with moderate losses in mid-morning trade as investors assessed a slew of Q1 FY27 earnings announcements amid the ongoing results season. Sector- and stock-specific movements remained in focus, while investors also tracked the progress of the monsoon, an important factor for the broader economic outlook.

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

Auto shares declined after advancing in the past trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex declined 314.13 points or 0.40% to 77,765.68. The Nifty 50 index fell 78.10 points or 0.33% to 24,317.45.

In the broader market, the BSE 150 MidCap Index declined 0.38% and the BSE 250 SmallCap Index fell 0.31%.

The market breadth was negative. On the BSE, 1,750 shares rose and 2,186 shares fell. A total of 257 shares were unchanged.

Monsoon Session of Parliament Ends:

The Monsoon Session of Parliament concluded on 13 August 2026 after 19 sittings spread over 25 days, with both Houses passing 12 Bills. Key legislation included Bills on public examinations, MSMEs, taxation, tribunals, banking records, mining and the renaming of Kerala as Keralam. The Foreign Contribution (Regulation) Amendment Bill was referred to a Joint Committee for further scrutiny. The session was marked by repeated disruptions, with Lok Sabha recording approximately 19% productivity and Rajya Sabha around 39%.

IPO Update:

Shiprocket received bids for 1,09,27,11,928 shares as against 9,44,36,030 shares on offer, according to stock exchange data at 11:30 IST on 14 August 2026. The issue was subscribed 11.57 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 17,09,58,788 shares as against 74,12,769 shares on offer, according to stock exchange data at 11:30 IST on 14 August 2026. The issue was subscribed 23.06 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.

Buzzing Index:

The Nifty Auto Index declined 0.89% to 29,129.55. The index rose 0.10% in the past trading session.

Tata Motors Passenger Vehicles (down 5.01%), Exide Industries (down 1.48%), Hero MotoCorp (down 1.15%), Tube Investments of India (down 1.05%), Bharat Forge (down 0.87%), Mahindra & Mahindra (down 0.79%), Sona BLW Precision Forgings (down 0.63%), Bosch (down 0.51%), TVS Motor Company (down 0.46%) and Maruti Suzuki India (down 0.39%) declined.

Global Market:

Asian markets traded mixed on Friday, poised for their strongest week in two months as benign inflation data dented expectations of an imminent U.S. rate hike, although faltering talks to end the war in the Middle East are likely to keep risk sentiment in check.

Brent futures jumped over $87 after a drop on Thursday but were set for a 4% weekly gain, snapping a two-week losing streak, after the U.S. threatened to ramp up economic pressure on Iran, including extending a naval blockade.

Markets have so far shrugged off the lack of progress in ending the Iran war, instead focusing on the broad AI theme and the global monetary policy outlook.

U.S. inflation reports this week suggested pricing pressure remained under control, lowering the odds of a rate increase from the Federal Reserve next month.

Overnight on Wall Street, the S&P 500 notched a record-high close on Thursday, fueled by advances in Sandisk and other heavyweight technology stocks.

The S&P 500 climbed 0.65% to end the session at 7,798.99 points, exceeding its record high close last Friday. The Nasdaq gained 0.81% to 26,803.03 points, while the Dow Jones Industrial Average rose 0.13% to 53,839.99 points.

Memory chip makers Sandisk and Micron Technology surged 13.7% and 4.2%, respectively, while Microsoft added almost 1% and Meta Platforms rose 2.8%.

Strong earnings forecasts in recent weeks from companies, including Microsoft and Amazon, has reduced investors' concerns about massive spending on AI data centers.

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