Nifty trade below 24,100 in early trade; breadth positive
At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 39.69 points or 0.05% to 76,917.58. The Nifty 50 index lost 28.70 points or 0.12% to 24,056.70.
In the broader market, the BSE 150 MidCap Index fell 0.30% and the BSE 250 SmallCap Index shed 0.02%.
The market breadth was positive. On the BSE, 1,592 shares rose and 1,433 shares fell. A total of 213 shares were unchanged.
FPIs bought shares worth Rs 17366 crore in August so far, through 31 August 2026. This follows net cash purchases of Rs 6,731.97 crore in July 2026, while they were net sellers of Rs 53,957.90 crore in June 2026.
Stocks in Spotlight:
LEAP India fell 2.77%. The company reported a 30.3% YoY increase in consolidated net profit to Rs 24.7 crore in Q1 FY27 from Rs 19 crore in Q1 FY26. Revenue from operations grew 19.1% YoY to Rs 203.4 crore from Rs 170.8 crore.
Milky Mist Dairy Food jumped 6.31% after the company reported an 889.9% YoY jump in consolidated net profit to Rs 64.7 crore in Q1 FY27 from Rs 6.5 crore in Q1 FY26. Revenue from operations grew 43.6% YoY to Rs 973.4 crore from Rs 678.1 crore.
E2E Networks rose 3.27% after the company entered into a binding term sheet with an India-based Sovereign AI company for the provision of NVIDIA Blackwell cloud GPUs and allied services. The contract is valued at approximately Rs 1,000 crore, excluding applicable taxes, and will remain valid through June 2029.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.17% to 6.959 compared with the previous session close of 6.947.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.0050 compared with its close of 95.2200 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.12% to Rs 1,54,650.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 99.50.
The United States 10-year bond yield rose 0.50% to 4.782.
In the commodities market, Brent crude for the October 2026 settlement jumped 64 cents or 0.71% to $91.13 a barrel.
Global Markets:
Most Asian stocks declined on Tuesday as renewed US-Iran hostilities pushed oil prices higher and revived concerns over inflation and interest rates. Investors were also assessing the prospect of further Federal Reserve rate hikes following hawkish comments from Fed Chair Kevin Warsh.
Wall Street ended lower on Monday, with rising Treasury yields and higher oil prices weighing on risk assets. The S&P 500 fell 0.33%, the Nasdaq Composite declined 0.12% and the Dow Jones Industrial Average dropped 0.70%. The market is also looking ahead to the US nonfarm payrolls report due on Friday, which could provide fresh clues on the Federal Reserve's policy path.
Oil prices climbed above $90 a barrel after the US and Iran resumed military strikes following a period of relative calm. US forces struck Iranian rocket launchers on Larak Island in the Strait of Hormuz, while Iran retaliated with attacks on US military targets in Jordan. The escalation has raised concerns over prolonged supply disruptions through the key oil shipping route.
Brent crude settled at $90.49 a barrel on Monday, up 2.71%, while the US 10-year Treasury yield rose to around 4.75%. Higher oil prices have revived concerns over persistent inflation, potentially strengthening the case for tighter monetary policy.
The renewed conflict has also increased uncertainty over the outlook for the Strait of Hormuz, through which a significant share of global oil shipments normally passes. Shipping activity has fallen sharply amid the hostilities, adding to concerns about further supply disruptions.
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