Market Recovery – Nifty 50 rose 84.20 points to 24,447.50 and Sensex gained 252.42 points to 80,110.21, led by strong performances in banking and IT sectors.
Institutional Flows Turn Positive – FIIs recorded Rs. 1,932.81 crore in net inflows, reversing prior outflows, while DIIs bought Rs. 7,723.66 crore worth of equities.
Policy Watch – The revised Income Tax Bill 2025 is set for tabling in Parliament, aiming to simplify taxation with fewer sections and streamlined compliance from April 1, 2026.
Indian stock market today at press time showed resilience, staging a recovery from recent losses as benchmark indices posted modest gains. The Nifty 50 climbed 84.20 points or 0.35% to 24,447.50, while the Sensex advanced 252.42 points or 0.32% to settle at 80,110.21. Let’s discuss the latest share market news along with how the top stocks and sectors performed today in detail.
The banking sector emerged as a key driver of today's recovery, with the Nifty Bank index surging 183.15 points or 0.33% to 55,188.05. The information technology sector also contributed positively, with Nifty IT gaining 102.60 points or 0.30% to reach 34,501.10.
However, the broader market painted a mixed picture. The BSE SmallCap index declined marginally by 31.39 points or 0.06% to 51,565.58, indicating cautious sentiment among smaller companies. The Nifty Midcap 100 index managed to stay in positive territory with gains of 0.19%, while the Nifty Smallcap 100 index slipped 0.16%.
According to Moneycontrol’s top gainers on Nifty 50, leading the charge was Adani Enterprises, which posted the strongest gains, surging 4.68% to Rs 2,280.10. Tata Motors followed closely with a 2.84% increase to Rs 651.70, while State Bank of India (SBI) advanced 1.95% to Rs 819.95. Grasim and Trent also contributed to the positive momentum with gains of 1.90% and 1.86% respectively.
On the downside, ICICI Bank faced the steepest decline, as per the Moneycontrol list of top losers on Nifty 50. The bank’s share price dropped 0.93% to Rs 1,422.50. Hero MotoCorp and Bajaj Auto also witnessed selling pressure, falling 0.76% and 0.61% respectively.
The earnings season continued to influence individual stock performances significantly. Power Mech Projects delivered impressive results with consolidated profit soaring 30.5% to Rs 80.6 crore compared to Rs 61.7 crore year-on-year, while revenue jumped 28.4% to Rs 1,293.4 crore from Rs 1,007.4 crore. The stock responded positively, gaining 1.78% to Rs 3,099.80.
Siemens reported mixed quarterly numbers with profit declining 3.1% to Rs 423.4 crore from Rs 437 crore, though revenue grew substantially by 15.5% to Rs 4,346.8 crore. Despite the profit decline, the stock rallied 2.62% to Rs 3,110.25.
According to Motilal Oswal, State Bank of India (SBIN) reported a QFY26 profit after tax of Rs. 191.6 billion (13% beat), aided by robust treasury gains and controlled opex. Advances grew 11.9% year on year. Out of this, retail grew 12.5% year on year, corporate declined 3%, agri stood flat, and SME grew 4.4% quarter on quarter.
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The banking sector remained in focus due to regulatory developments. The Reserve Bank of India imposed a monetary penalty of Rs 75 lakh on ICICI Bank for violations related to property valuations in mortgage loans and current account maintenance requirements.
Additionally, ICICI Bank announced significant changes to its minimum balance requirements. The bank raised the average minimum balance for savings accounts in metros and urban areas to Rs 50,000 from Rs 10,000, applicable to new accounts from August 1. Semi-urban branches now require Rs 25,000 (up from Rs 5,000), while rural branches mandate Rs 10,000 (increased from Rs 2,500).
Institutional flows continued to play a crucial role in market dynamics. Foreign Institutional Investors (FIIs) turned positive with net inflows of Rs 1,932.81 crore on August 8, marking a significant reversal from the previous day's massive outflow of Rs 4,997.19 crore. Domestic Institutional Investors (DIIs) maintained their supportive stance with net purchases of Rs 7,723.66 crore.
The Indian rupee strengthened against the US dollar, trading 10 paise higher at 87.56 per dollar compared to Friday's close of 87.66, reflecting improved market sentiment.
A major policy development on the horizon is the expected tabling of the revised Income Tax Bill 2025 in Parliament today. This legislation aims to replace the 64-year-old Income Tax Act, 1961, with a more streamlined framework featuring fewer sections (536 from 819) and reduced complexity. The new law is proposed to take effect from April 1, 2026, potentially marking the most significant tax reform since India's independence.
Several companies announced strategic partnerships and business developments. VinFast India signed an MoU with HDFC Bank for auto and inventory financing solutions for its dealer network, marking the Vietnamese EV maker's first banking partnership in India.
Mahindra Logistics launched Alyte, a premium B2C mobility service for urban commuters, with the stock gaining 1.68% to Rs 326.80. Oriana Power secured contracts to supply green ammonia, winning bids totaling 130,000 metric tonnes per annum at competitive prices.
ICICI Bank continues to be under fire. A Motilal Oswal research report points out that ICICI Bank has reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working environment. ICICI Bank’s employee attrition rate dropped to 18% in the financial year 2024-25, compared year-on-year (YoY) with 24.5% in the previous financial year.
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From a technical standpoint, the Nifty 50's ability to trade above the 24,450 level signals potential for further recovery. The sustainability of FII inflows and any developments in US-India trade relations will remain critical factors influencing market direction in the near term. Domestic institutional support remains strong, and the rupee shows stability. The Indian stock market today is positioned for a gradual recovery, provided global cues don't intensify further.
Investors should closely monitor the progression of the Income Tax Bill 2025 through Parliament. They should keep an eye on upcoming corporate earnings from companies like Ashoka Buildcon, SJVN, Bajaj Consumer, BEML, IPCA Labs, Praj Industries, and Titagarh Rail.
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The recovery was driven by strong gains in banking and IT sectors, positive FII inflows of Rs. 1,932.81 crore, and stable domestic investor participation. Improved sentiment in global markets and expectations around the Income Tax Bill 2025 also supported the uptrend.
Adani Enterprises led with a 4.68% gain, followed by Tata Motors (+2.84%) and State Bank of India (+1.95%). Grasim and Trent also added to the rally with gains of 1.90% and 1.86% respectively.
ICICI Bank faced a Rs. 75 lakh RBI penalty for regulatory violations and announced higher minimum balance requirements. Despite this, it maintained the lowest employee attrition rate among major private banks at 18% in FY25.
Power Mech Projects posted a 30.5% profit surge, Siemens reported mixed results with strong revenue growth, and VinFast India signed its first banking partnership in India with HDFC Bank.
The focus will be on the passage of the Income Tax Bill 2025, upcoming corporate earnings, and sustainability of FII inflows. Technical charts suggest potential for further recovery if positive triggers persist.