Market continues to cheer GST reforms; European mrkt advance
Barring pharma, all the sectoral indices on the NSE were traded in green with oil & gas, auto and media shares advancing the most.
At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 405.06 points or 0.50% to 81,678.81. The Nifty 50 index gained 107.80 points or 0.43% to 24,984.70.
The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.60% and the S&P BSE Small-Cap index added 0.70%.
The market breadth was strong. On the BSE 2,483 shares rose and 1,482 shares fell. A total of 169 shares were unchanged.
Gainers & Losers:
Tata Motors (up 3.37%), Bajaj Auto (up 2.53%), Reliance Industries (up 2.31%), Adani Ports & Special Economic Zone (APSEZ) (up 2.18%) and Hero Motocorp (up 2.11%) were the major Nifty50 gainers.
Grasim Industries (down 1.29%), Bajaj Finserv (down 1.02%), Hindalco Industries (down 0.99%), Dr Reddys Laboratories (down 0.97%) and Bharat Electronics (BEL) (down 0.75%) were the major Nifty50 losers.
Stocks in Spotlight:
Hindustan Zinc rose 0.25% after the company said that its board has approved to set up a tailings reprocessing plant at Rampura Agucha, Bhilwara, Rajasthan, aimed at recovering metals from the tailing dumps. The said project is part of the companys plan to double its production capacity. The new plant, with a capacity of 10 million tonnes per annum (Mtpa), will be developed with an investment up to Rs 3,823 crore and is targeted for completion within 28 months from the zero date.
HLE Glascoat hit an upper circuit of 20% after announcing the successful completion of its strategic European acquisition. In a regulatory filing, the company disclosed that its wholly owned step-down subsidiary, HLE Surface Technologies GmbH, finalized the acquisition of specific assets of Germany-based Omeras GmbH, along with all shares of its subsidiary Omerastore GmbH, The acquisition, valued at 2.75 million euros
SPML Infra shed 0.27%. The company has announced it has received an order worth Rs 1,073 crore project from the Indore Municipal Corporation for the augmentation of the city's water supply system under the Government of Indias AMRUT 2.0 initiative.
Alembic Pharmaceuticals added 0.59%. The company received final approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Macitentan tablets, 10 mg.
Vedanta jumped 2.49% after the company announced that its board will meet on Thursday, 21 August 2025, to consider a second interim dividend for FY2025-26.
Global Markets:
Most European markets advanced after prospects of talks between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky raised hopes of easing tensions.
Most Asian markets declined on Tuesday as traders digested the talks between U.S. President Donald Trump, Ukraines President Volodymyr Zelenskyy and European leaders at the White House, aimed at stopping the Moscow-Kyiv conflict.
In a social media post late on Monday, Trump said he had called Putin and begun arranging a meeting between Putin and Zelenskiy, to be followed by a trilateral summit among the three Presidents.
Investors are also closely watching the Fed's Jackson Hole, Wyoming, conference between August 21 and 23, where Fed Chair Jerome Powell is expected to speak, could offer more clarity on the economic outlook and the central bank's policy framework.
Overnight stateside, all three key benchmarks ended the day near the flatline.
The Dow Jones Industrial Average dropped 34.30 points, or 0.08%, to close at 44,911.82. The S&P 500 closed down 0.01% and ended at 6,449.15, while the Nasdaq Composite inched up 0.03% to settle at 21,629.77.
Data on Friday showed that while retail sales were increasing broadly as anticipated, consumer sentiment overall had taken a hit from mounting inflation fears. On Monday, the National Association of Home Builders/Wells Fargo Housing Market Index fell to the lowest reading since December 2022.
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It may seem like there is a lot of tension with tariff wars, geopolitical unrest, and earnings slowdown, but there are always factors affecting the market. Today, the Nifty is at the same level as it was one year ago, and in spite of that, its five-year absolute return is 118 per cent. That shows significant growth and should give investors confidence to stay put, ride out the storm, and wait for the next upcycle. A good investment strategy should be to identify sectors that are likely to do well through these turbulent times. India's consumption is growing, infrastructure and telecom services are expanding, and financial services are being penetrated deeper. Investors can focus on these sectors to generate returns on their portfolios before the dust settles and we see broader market growth, like we saw post-COVID. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
