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Nifty slipped 90 points to close at 24,632 while the Sensex lost 300 points amid weakness in FMCG and IT sectors.
IndusInd Bank led the gainers with a 2.08% rise, while Dr. Reddy’s and Tata Steel dragged indices lower.
Rupee fell to a 6-month low at Rs. 83.56, and FIIs net sold Rs. 2,566 crore, showing cautious investor sentiment.
Indian stock market today is showing mixed signals. Nifty 50 has slipped below the crucial 24,650 level, declining by 90 points to trade at 24,632.20 at press time. On the other hand, Sensex has dropped over 300 points to 80,722.32. This downturn comes just a day after the markets staged a remarkable comeback on August 4, driven by strong performance in the metal and automotive sectors.
Today's trading session is characterized by mixed sectoral performance, with the Nifty FMCG index bearing the brunt of selling pressure, declining over 300 points. The banking sector is also under stress, with the Nifty Bank index down 208.65 points to 55,410.70. The IT sector has faced significant pressure, falling 207.90 points to 34,995.45, representing a 0.59% decline. Broader markets are showing resilience with the BSE SmallCap index down marginally by 0.16% to 52,886.04. Although the Nifty Midcap index is under more pressure, declining 0.60%.
Despite the overall negative sentiment, some stocks are bucking the trend. IndusInd Bank leads the Nifty 50 gainers with a 2.08% rise to Rs. 820.80, following the appointment of its new CEO and MD. Maruti Suzuki continues its positive momentum with a 1.37% gain to Rs. 12,534. Trent and Titan Company are also among the top gainers, rising 1.19% and 0.90% respectively.
On the downside, pharmaceutical stocks are facing selling pressure, according to Moneycontrol list of top losers on Nifty 50. Dr. Reddy's Labs is leading the decliners with a 1.54% fall to Rs. 1,206.10. Cipla and Asian Paints are also among the top losers, declining 1.41% and 1.38% respectively.
Also Read: IndusInd Bank Share Price Rises 2.8% to Rs. 1,451 as Rajiv Anand Named New CEO
The ongoing earnings season continues to drive individual stock movements with mixed results across sectors.
Godfrey Phillips India emerged as a standout performer, hitting a record high of Rs. 9,891.25 and closing 9.78% higher at Rs. 9,871.60. The company reported impressive Q1 results with consolidated profit zooming 55.9% to Rs. 356.3 crore and revenue growing 36.5% to Rs. 1,486.2 crore year-on-year.
Inox India reported solid quarterly numbers with profit growing 16.1% to Rs. 61.1 crore and revenue rising 14.6% to Rs. 339.6 crore. However, the stock declined 3.92% to Rs. 1,128.90 despite the positive results.
Bharti Airtel shares are trading higher at Rs. 1,931.05, up 0.84%, ahead of its Q1 earnings announcement scheduled for today.
Several significant corporate announcements are shaping market sentiment. Kaynes Technology's subsidiary, Kaynes Circuits India, has entered into a non-binding MoU with the Government of Tamil Nadu. It is for an investment of Rs. 4,995 crore over six years for establishing manufacturing facilities. NBCC India received a revised work order from Lokpal Of India worth Rs. 103 crore, up from the earlier Rs. 25.4 crore.
The primary market remains active with Highway Infrastructure IPO receiving a strong response on Day 1, subscribed 8.25 times overall. The retail category showed particularly strong demand with 10.47 times the subscription. At the same time, the NII segment was subscribed 8.14 times.
Foreign institutional investors (FIIs) continued their selling spree on August 4, with net outflows of Rs. 2,566.51 crore. Domestic institutional investors (DIIs), on the other hand, provided support with net inflows of Rs. 4,386.29 crore. Hence, demonstrates the crucial role of domestic liquidity in market stability.
Also Read: Stock Market Today: Sensex Surges 350 Points as Metal and Auto Stocks Drive Recovery
Today marks the first weekly expiry of Sensex contracts for the August series, along with Day 2 of the RBI Monetary Policy Committee meeting. The central bank's policy decision, expected on August 6, remains a crucial event that market participants are closely monitoring.
A host of companies, including Bharti Airtel, Adani Ports, Lupin, Britannia Industries, Berger Paints India, Gujarat Gas, NCC, Prestige Estates Projects, and Torrent Power, are scheduled to announce their quarterly earnings today, which could provide further direction to the markets. Investors are advised to remain cautious while focusing on fundamentally strong stocks that can weather short-term volatility.
The Indian stock market witnessed a decline today primarily due to weak performance in the FMCG and IT sectors. Investors also remained cautious ahead of the weekly options expiry. Global cues, including concerns over slowing global growth and higher U.S. bond yields, added to the bearish sentiment.
2. What is the Nifty and Sensex closing value today?
At the close of today’s trading session, the Nifty 50 index declined by 90 points to settle at 24,632, while the BSE Sensex dropped 300 points, ending the day at 80,722. The market saw a broad-based selloff across sectors, particularly in FMCG, IT, and metal stocks.
3. Which stocks performed well today?
Amid the broader market weakness, a few large-cap stocks stood out with notable gains. IndusInd Bank led the way with a gain of 2.08%, following the appointment of Rajiv Anand as CEO, which boosted investor confidence. Maruti Suzuki rose by 1.37%, driven by positive auto sales data and strong demand for hybrid models. Larsen & Toubro (L&T) also posted a gain of 0.98%.
4. What happened to the rupee today?
The Indian rupee weakened to Rs. 83.56 against the US dollar, reaching its lowest level in over six months. This decline was driven by multiple factors including sustained foreign fund outflows, rising crude oil prices, and a stronger US dollar index. Global uncertainty and cautious sentiment among foreign investors also played a key role. The Reserve Bank of India (RBI) refrained from strong intervention, allowing the rupee to slide further.
5. Was there any IPO update today?
Yes, the Highway Infrastructure Trust IPO witnessed an overwhelming response on Day 1 of its subscription. The issue was subscribed 8.25 times overall, reflecting strong institutional and retail investor interest. The retail portion alone was oversubscribed by 10.47 times, indicating robust participation from individual investors. This enthusiasm is attributed to the company’s strong fundamentals, promising returns, and government focus on infrastructure development.
