Benchmarks snap 2-day losses, Nifty ends above 24,700

Business Standard

16 hours ago

Domestic benchmark indices kicked off the week on a positive note, snapping a two-day losing streak. Investors weighed developments around U.S. tariffs and the Federal Reserves policy stance amid signs of a softening labour market. The Nifty 50 closed comfortably above the 24,700 mark, buoyed by broad-based gains in metal, auto, and IT stocks.
The S&P BSE Sensex advanced 418.81 points or 0.52% to 81,018.72. The Nifty 50 index gained 157.40 points or 0.64% to 24,722.75.
Bharat Electronics (up 3.55%), Adani Ports and Special Economic Zone (up 3.24%) and Reliance Industries (up 1.21%) were major Nifty movers today.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 1.11% and the S&P BSE Small-Cap index rose 0.76%.
The market breadth was positive. On the BSE, 2,286 shares rose and 1,847 shares fell. A total of 174 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.06% to 11.97.
All eyes are now on the Reserve Bank of Indias Monetary Policy Committee (MPC) meeting, which began today, 4 August 2025. The committee is expected to announce its policy decision on 6 August. In May, the RBI surprised markets by cutting the repo rate by 50 basis points to 5.50%, while shifting its stance from accommodative to neutral. That brought total rate cuts since February to 100 basis points, pushing borrowing costs to their lowest since August 2022.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.63% to 6.331 from the previous close of 6.371.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.7350 compared with its close of 87.1850 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement advanced 0.79% to Rs 1,00,539.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.24% to 98.69.
The United States 10-year bond yield added 0.07% to 4.233.
In the commodities market, Brent crude for Oct 2025 settlement lost $1.14 or 1.64% to $68.54 a barrel.
Global Markets:
The US Dow Jones index futures are currently up by 238 points, indicating a positive start for US stocks today.
European indices traded higher on Monday, kicking off the new week on a positive note as investors continued to digest the Trump administration's volatile trade negotiations and the evolving global growth outlook.
Asian shares ended mixed as investors assessed the latest round of tariffs that have been levied by the U.S. on its trading partners. These tariffs have raised concerns over mounting inflation and could also possibly lead to an economic slowdown.
Movements in crude oil prices will be closely watched after OPEC+ announced a significant output hike. On Sunday, the bloc agreed to raise production by 547,000 barrels per day for September, the latest in a series of accelerated increases aimed at regaining market share.
The decision comes amid concerns over potential supply disruptions related to Russia, with OPEC+ citing a healthy global economy and low inventories as key factors behind the move.
On Wall Street, major equity indices ended lower on Friday as a weaker-than-expected jobs report, combined with fresh U.S. tariffs on dozens of trading partners, fueled concerns that the American economy might be slowing down significantly.
The S&P 500 slipped 1.6% to close at 6,238.01, while the Nasdaq Composite pulled back 2.24% to 20,650.13. The Dow Jones Industrial Average fell 542.40 points, or 1.23%, to finish the session at 43,588.58.
Data released by the Labor Department on Friday showed that the US nonfarm payrolls rose by 73,000 in July 2025, well below expectations of 110,000. The revised figures for May and June showed that employment was cumulatively lower by 258,000 than previously reported, suggesting the labor market may be cooling more rapidly than initially anticipated.
Stocks in Spotlight:
The Nifty Metal index jumped 2.48% to 9,327.85. Steel Authority of India (up 4.56%), Tata Steel (up 4.08%), Jindal Stainless (up 3.68%), Jindal Steel & Power (up 3.66%), National Aluminium Company (up 3.65%), Hindustan Copper (up 2.89%), JSW Steel (up 2.86%) and NMDC (up 2.61%) were major gainers.
Hero MotoCorp added 5.14% after the company dispatched 449,755 units of motorcycles and scooters in July 2025, marking a 21% increase compared to 370,274 units dispatched in July 2024.
UPL surged 7.09%. The company's consolidated revenue for the quarter stood at Rs 9,216 crore, up 2% from Rs 9,067 crore a year ago. The topline was supported by improved pricing and favourable forex. Reported PATMI (Profit After Tax and Minority Interest) narrowed to Rs 88 crore in Q1FY26, from a loss of Rs 384 crore in the same quarter last year, an improvement of nearly Rs 300 crore. The company reaffirmed its full-year guidance, projecting revenue growth between 4% and 8%, and EBITDA growth in the range of 10% to 14% for FY26.
Tata Investment Corporation climbed 3.06% after the companys board approved a 10-for-1 stock split. The announcement coincided with the companys Q1 June 2025 earnings, which reflected a stable financial performance. Profit after tax (PAT) rose 11.62% year-on-year to Rs 146.30 crore, while revenue grew 2.11% YoY to Rs 145.46 crore. Profit before tax (PBT) stood at Rs 167.92 crore, marking a 7.84% increase over the year-ago period.
Harsha Engineers International surged 3.15% after the company announced a long-term supply agreement with a leading multinational company. The deal, effective from 31 July 2025, is valued at approximately Rs 117 crore per annum and is set to run for an initial period of three years. Under the agreement, Harsha Engineers and its subsidiaries will manufacture and supply journal bearings and bushings to the MNCs global operations. The contract involves both domestic and international deliveries.
Multi Commodity Exchange of India (MCX) jumped 5.08%. On a consolidated basis, MCX's net profit for Q1FY26 came in at Rs 203.19 crore, marking an 83% year-on-year (YoY) rise from the same quarter last year. On a sequential basis, profit rose 50% over Q4FY25. Income from operations jumped to Rs 373.21 crore, up 59% YoY and 28% QoQ. Average Daily Turnover (ADT) increased 80% YoY to Rs 3,10,775 crore, driven by renewed participant interest and dynamic market environment.
Narayana Hrudayalaya fell 5.82% after the companys consolidated net profit declined 2.3% to Rs 196.65 crore despite of 15.4% jump in net sales 1,507.27 crore in Q1 FY26 over Q1 FY25.
Shakti Pumps India tanked 7.53% after the companys consolidated net profit declined 12.15% to Rs 96.83 crore in Q1 FY26 as against Rs 110.23 crore posted in Q4 FY25. Revenue from operations decreased 6.43% to Rs 622.50 crore in Q1 FY26 as against Rs 665.32 crore reported in Q4 FY25.
Sarda Energy & Minerals hit an upper circuit of 20% after the companys consolidated net profit jumped 120% to Rs 437 crore in Q1 FY26 as against Rs 198 crore posted in Q1 FY25. Revenue from operations rose 76% year-on-year to Rs 1,633 crore in Q1 FY26.
Delhivery gained 7.34% after the companys consolidated net profit jumped 67.50% to Rs 91.04 crore in Q1 FY26, compared with net profit of Rs 54.35 crore in Q1 FY25. Revenue from operations increased 5.60% year on year to Rs 2,294 crore in Q1 FY26.
Honeywell Automation India slipped 2.32% after the companys standalone net profit declined 8.71% to Rs 124.60 crore in Q1 FY26, compared with Rs 136.50 crore in Q1 FY25. However, revenue from operations jumped 23.18% year on year to Rs 1,183.1 crore in Q1 FY26.
Aditya Birla Capital soared 10.70% after the companys consolidated net profit jumped 10.04% to Rs 835.08 crore on 9.57% rise in total revenue from operations to Rs 9,502.69 crore in Q1 FY26 over Q1 FY25.
Vishnu Chemicals dropped 7.79% after the company's consolidated net profit declined 17.24% to Rs 32.22 crore on 11.54% fall in income from operations to Rs 345.94 crore in Q1 FY26 over Q4 FY25.