Benchmarks tiptoe higher as WPI cheer meets geopolitical chill
Investor caution ahead of Russia-U.S. discussions on the Ukraine conflict kept the rally in check during the holiday-shortened week. Meanwhile, the June-quarter earnings season wraps up today, with the final batch of companies set to announce their results. The Nifty closed above the 24,600 mark. Gains, however, were capped by weakness in metal and energy stocks.
The S&P BSE Sensex added 57.75 points or 0.07% to 80,597.66. The Nifty 50 index rose 11.95 points or 0.05% to 24,631.30. In two trading sessions, the Sensex and Nifty jumped 0.45% and 0.59%, respectively.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.18% and the S&P BSE Small-Cap index fell 0.59%.
The market breadth was negative. On the BSE, 1,742 stocks rose and 2,320 shares fell. A total of 159 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.77% to 12.36.
The stock market will remain closed on Friday, 15 August 2025, in observance of Independence Day.
S&P Global Upgrades India's Rating:
S&P Global has upgraded Indias sovereign credit rating to 'BBB' from 'BBB-', citing strong economic resilience, sustained fiscal consolidation, and robust growth. The stable outlook reflects confidence in continued policy stability and infrastructure investment. Despite U.S. tariff concerns and potential shifts in oil imports, S&P sees the impact as manageable.
Economy:
India's wholesale price index (WPI)-based inflation slipped to a 25-month low of -0.58% in July, marking a second straight month in negative territory, provisional data from the Ministry of Commerce showed on Thursday. WPI stood at -0.13% in June. Julys decline was driven by a sharper year-on-year contraction in the food segment, down 2.15% after a 0.26% fall in June.
Separately, Indias merchandise trade deficit for July widened to $27.35 billion from $18.78 billion in June, the commerce ministry said on August 14. The goods exports in July stood at $37.24 billion, while the imports came in at $64.59 billion.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.86% to 6.425 from the previous close of 6.483.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.5600 compared with its close of 87.4700 during the previous trading session.
MCX Gold futures for 3 October 2025 settlement rose 0.06% to Rs 100,250.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 97.87.
The United States 10-year bond yield fell 0.52% to 4.216.
In the commodities market, Brent crude for October 2025 settlement added 35 cents or 0.53% to $65.98 a barrel.
Global Market:
Most European shares traded higher on Thursday after the U.K. economy expanded by a better-than-expected 0.3% in the second quarter, according to preliminary estimates from the U.K.s Office for National Statistics.
Asian indices ended mixed as traders piled into wagers that the Federal Reserve will resume cutting interest rates next month.
On the data front, Australias unemployment rate eased to 4.2% on a seasonally adjusted basis in July. The reading was lower than the 4.3% recorded in June, data released by the Australian Bureau of Statistics on Thursday showed.
On Wall Street, both the S&P 500 and Nasdaq Composite climbed to new record closing highs on Wednesday. The Dow Jones Industrial Average added 463.66 points, or 1.04%, closing at 44,922.27. The S&P 500 rose 0.32% to settle at 6,466.58, while the Nasdaq Composite gained 0.14% and finished at 21,713.14.
New Listing:
Shares of JSW Cement ended at Rs 146.05 on the BSE, representing a discount of 0.65% compared with the issue price of Rs 147.
The scrip was listed at Rs 153, exhibiting a premium of 4.08% to the issue price. The stock hit a high of Rs 154.70 and a low of Rs 145.05. On the BSE, 1.11 crore shares of the company were traded in the counter.
Shares of All Time Plastics Time Plastics ended at Rs 283.25 on the BSE, representing a premium of 3% compared with the issue price of Rs 275.
The scrip was listed at Rs 314.30, exhibiting a premium of 14.29% to the issue price. The stock has hit a high of Rs 322.15 and a low of Rs 280.80. On the BSE, over 18.74 lakh shares of the company were traded in the counter.
Stocks in Spotlight:
Muthoot Finance rallied 9.83%. The companys consolidated net profit climbed 65% year-on-year to Rs 1,974.2 crore in Q1 FY26 from Rs 1,195.7 crore in Q1 FY25. Total income rose 44% YoY to Rs 6,485 crore in Q1 FY26 from Rs 4,492.4 crore a year ago.
Pfizer climbed 3.9% after posting a strong performance in the June quarter. On a standalone basis, net profit rose 27.23% year-on-year to Rs 191.75 crore in Q1 FY26 from Rs 150.71 crore in Q1 FY25, but fell 3.3% sequentially from adjusted net profit of Rs 198.33 crore in Q4 FY25. Revenue from operations stood at Rs 603.05 crore, up 7.14% YoY from Rs 562.86 crore and 1.88% higher than Rs 591.91 crore in the March quarter.
Surya Roshni slumped 10.7% after the company posted a sharp drop in profitability for Q1 FY26, weighed down by softer commodity prices, muted government project activity, and seasonal demand weakness. Net profit came in at Rs 34 crore, down 64% from Rs 92 crore in Q1 FY25. Revenue fell 15% year-on-year to Rs 1,605 crore from Rs 1,893 crore.
Bharat Petroleum Corporation (BPCL) declined 1.5%. The company reported a 103.1% jump in standalone net profit to Rs 6,123.93 crore in Q1 FY26 as against Rs 3,014.77 crore posted in Q1 FY25. Net sales (excluding excise duty) declined 0.5% year-on-year (YoY) to Rs 1,12,514.65 crore in the June 2025 quarter.
Ashok Leyland added 1.88% after the company reported a 12.96% rise in standalone net profit to Rs 593.73 crore in Q1 FY26, compared to Rs 525.58 crore posted in Q1 FY25. Revenue from operations increased 1.46% year-on-year (YoY) to Rs 8,724.51 crore in the quarter ended 30 June 2025.
Cohance Lifesciences slumped 7.44% after the company reported a sharp drop in profitability for Q1 FY26. Consolidated net profit (adjusted) stood at Rs 62.9 crore, down 24.8% year-on-year from Rs 83.5 crore in Q1 FY25. Revenue from operations rose 12.5% YoY to Rs 549.3 crore from Rs 488.1 crore, aided by growth across all business segments.
Nava fell 5.63% after reporting a decline in profit for the June quarter. On a consolidated basis, the company's net profit for Q1 FY26 stood at Rs 399.1 crore, down 10.5% year-on-year, though up 31.8% sequentially. Revenue from operations fell 2.4% YoY to Rs 1,193.2 crore in Q1 FY26, but rose 17.2% QoQ.
H G Infra Engineering slipped 2.89% after the company reported 38.93% decline in consolidated net profit to Rs 99.26 crore in Q1 FY26 as against Rs 162.56 crore posted in Q1 FY25. Revenue from operations fell 2.99% YoY to Rs 1,482.20 crore in the quarter ended 30 June 2025.
Anupam Rasayan India rose 1.56%. The company reported 768.36% surge in consolidated net profit to Rs 34.04 crore in Q1 FY26 as against Rs 3.92 crore in Q1 FY25. Revenue from operations rose 91.12% to Rs 485.83 crore in the quarter ended 30 June 2025.
Texmaco Rail & Engineering dropped 5.43% after the company reported a 49.87% decline in consolidated net profit to Rs 29.99 crore in Q1 FY26, compared to Rs 59.83 crore posted in Q1 FY25. Revenue from operations fell 16.32% year-on-year (YoY) to Rs 910.60 crore in the quarter ended 30 June 2025.
Rail Vikas Nigam (RVNL) shed 0.63%. The company said that it has received a letter of award (LoA) from Southern Railway to install video surveillance systems at 441 D and E category stations, and upgrade systems at 43 A1 to C category stations.
Jubilant FoodWorks declined 1.29%. The company has reported 59.8% rise in consolidated net profit to Rs 97.2 crore on a 17% increase in revenue from operations to Rs 2,260.9 crore in Q1 FY26, compared with Q1 FY25.
Indian Railway Catering & Tourism Corporation (IRCTC) shed 0.34%. The company reported a 7.47% jump in consolidated net profit to Rs 330.70 crore, while revenue from operations rose 3.76% to Rs 1,159.68 crore in Q1 FY26 over Q1 FY25.
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