Sensex, Nifty close higher: What drove stock market to bounce back today?
On Thursday, the BSE Sensex tanked 644.64 points or 0.79 per cent to settle at 80,951.99. The Nifty tumbled 203.75 points or 0.82 per cent to 24,609.70.
After a flat start in early sessions on Friday, the 30-share BSE benchmark gauge Sensex, bounced back and jumped 769.09 points to settle at 81,721.08 after late morning deals.
Among the biggest gainers from Sensex were ITC, Eternal, Power Grid, Tech Mahindra, Infosys and HCL Tech.
Deviating from the trend, pharma index lost 0.5 per cent. Sun Pharma was the only laggard, dropping 3.3% as brokers expect lower earnings citing softer revenue guidance in this fiscal year.
Among the gainers, Honasa Consumer jumped 12 per cent driven by increased revenue estimates as growth of their new brands improved outlook.
The NSE Nifty surged 243.45 points to 24,853.15.
Despite the gains in the session, both the Nifty and Sensex are down about one per cent for this week, Reuters reported.
Easing US treasury yields was attributed as the major reason for broader recovery in emerging markets on Friday. MSCI Asia ex-Japan up 0.4 per cent following a 0.9 per cent drop in the previous session.
Elevated yields and expectations of Trump's new tax cut bill adding trillions of dollars to US debt prompted investors to offload holdings in emerging markets. Foreign portfolio investors (FPIs) offloaded more than ₹5,000 crores worth of Indian equities on Thursday.
Yields eased on Friday as the new tax cut bill narrowly passed the US House, offering relief to some emerging markets.
Aditya Khemka, fund manager at InCred Asset Management, said, 'With lingering uncertainty over the US economy, foreign flows and trade negotiations, it is likely that Indian markets will witness consolidation in the short term.'
'The fact that there is a sequential earnings recovery in the March quarter is positive for domestic equities, but the revival is modest at best which will keep the gains capped,' Reuters quoted Khemka as saying.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
20 minutes ago
- Business Standard
Adani Group stocks trade weak; Adani Green, Power, Enterprises down upto 3%
Adani Group stocks in focus: Shares of Adani Group companies were under pressure, falling by up to 3 per cent on the BSE in Thursday's intra-day trade due to overall weakness in the equity market. Indian equity indices were trading lower on Thursday after US President Donald Trump imposed an additional 25 per cent tariff on Indian exports to the US, citing New Delhi's continued purchases of Russian crude oil. Adani Green Energy, Adani Ports and Special Economic Zone, Adani Enterprises, Adani Power, ACC and Adani Energy Solutions were down in the range of 1 per cent to 3 per cent on the BSE in intra-day trade. By comparison, the BSE Sensex was down 0.61 per cent at 80,050 at 11:10 AM. CATCH STOCK MARKET LIVE UPDATES TODAY In the past one month, these stocks have underperformed the market by falling between 6 per cent and 12 per cent, as against 4 per cent decline in the benchmark index. Among the individual stocks, Adani Enterprises has slipped 2.6 per cent to ₹2,240.20 in intra-day trade today. The stock price of Adani Group flagship company is quoting at its lowest level since May 9, 2025. In the past month, the stock has corrected 12 per cent. For April to June 2025 quarter (Q1FY26), Adani Enterprises reported a 50 per cent year-on-year (Y-o-Y) decline in its consolidated profit after tax at ₹734 crore, against ₹1,458 crore in Q1FY25. Consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda) down 12 per cent Y-o-Y to ₹3,786 crore. Total income decreased 14 per cent Y-o-Y at ₹22,437 crore. However, the company's Ebitda from incubating businesses has increased by 5 per cent to ₹2,800 crore on Y-o-Y basis and contributes 74 per cent to Q1FY26 results. Adani Enterprises said the company shall witness operationalization of the large infra assets during this fiscal year reflecting its project execution capabilities, which should result in Ebitda unlock and long-term value creation. This performance has been led by the company's Airports business, which delivered an exceptional 61 per cent Y-o-Y growth in Ebitda. Meanwhile, global economic growth is expected to moderate from 3.3 per cent in 2024 to 2.8 per cent in 2025, before recovering to 3 per cent in 2026. The combined effects of new trade restrictions, their spillover through global trade linkages, and rising uncertainty may dampen business sentiment and pace of economic recovery. Financial market volatility has raised concerns about extreme vulnerabilities, particularly in countries grappling with persistent inflation and signs of economic slowdown, Adani Enterprises said in its FY25 annual report. Meanwhile, shares of Adani Energy Solutions were down 2 per cent to ₹778.25 on the BSE in intra-day trade. In the past two trading days, the stock declined 3 per cent as Abu Dhabi-based Envestcom Holding RSC Ltd offloaded 22 million shares of Adani Energy Solutions on Wednesday, via open market, according to bulk deal data from the exchanges. While 11 million shares were sold on the NSE, the remaining 10.98 million shares were offloaded on the BSE at an average price of ₹790 per share, data shows. The names of buyers are not ascertained immediately. As of June 2025, Envestcom held 32.18 million shares or 2.68 per cent stake in Adani Energy Solutions, the shareholding pattern data shows. Meanwhile, shares of Adani Power has moved higher by 2 per cent to Rs 565.80 from its intra-day low after the company said it will set up a 2,400 MW ultra-supercritical power plant at Village Pirpainti in Bhagalpur district of Bihar at an investment of up to $3 billion and supply the entire net capacity of 2,274 MW to Bihar Utilities. Adani Power said the company has received a Letter of Intent (LoI) from Bihar State Power Generation Company (BSPGCL) to supply 2,274 MW power to North Bihar Power Distribution Company (NBPDCL) and South Bihar Power Distribution Company (SBPDCL) from a 2,400 MW thermal power project to be developed at Pirpainti in Bhagalpur District of Bihar.
&w=3840&q=100)
Business Standard
20 minutes ago
- Business Standard
Datamatics Global spikes 7% on posting healthy Q1 results; PAT up 16%
Datamatics Global Services shares spiked 6.6 per cent on Thursday, August 7, 2025, and logged an all-time high at ₹1,119.95 per share on BSE. The buying on the counter came a day after the company posted Q1 results, after market hours on Tuesday. At 11:08 AM, Datamatics Global Services share price was up 3.63 per cent at ₹1,088 per share. In comparison, the BSE Sensex was 0.66 per cent lower at 80,013.25. Datamatics Global Services Q1 results In Q1, Datamatics Global Services' consolidated net profit came in at ₹50.4 crore, up 15.8 per cent year-on-year (Y-o-Y), as compared to a net loss of ₹43.5 crore a year ago. The revenue from operations stood at ₹467.6 crore, as compared to ₹394 crore, up 18.7 per cent. The company's Earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at ₹75.9 crore, as compared to ₹51.4 crore, up 47.7 per cent Y-o-Y. Ebitda margin stood at 16.2 per cent, as against 13 per cent. "Despite a subdued discretionary spending environment, we maintained a healthy margin, supported by ongoing cost optimisation initiatives. We remain focused on sustaining this momentum through the rest of FY26," said Rahul Kanodia, vice chairman and CEO, Datamatics. He added: As we look ahead, I am truly excited about the future. We stand at the forefront of a new technological revolution, and Datamatics is strongly positioned to seize the opportunities it brings. A heartfelt thank you to our customers, employees, and investors for being an integral part of this journey. Track Stock Market LIVE Updates About Datamatics Global Services Datamatics is a digital technologies, operations, and experiences company that provides intelligent solutions for data-driven businesses to increase productivity and enhance the customer experience. With a complete digital approach, Datamatics portfolio spans across Digital Technology Solutions, Business Process Management and Engineering Services powered by Artificial Intelligence. It has established products in Robotic Process Automation, Intelligent Document Processing, Business Intelligence and Automated Fare Collection. Datamatics does business with global customers across Banking, Financial Services, Insurance, Healthcare, Manufacturing, International Organizations, and Media & Publishing. The Company has presence across 4 continents with major delivery centers in the USA, India, and Philippines. Lumina Datamatics, is a key player in the Publishing and eCommerce BPM space, has delivery centers in the USA and India.
&w=3840&q=100)
Business Standard
20 minutes ago
- Business Standard
Trump's tariff hike could shave 0.3 pp off India's GDP: Goldman Sachs
India condemns new 25% duty on exports; total levy now at 50%; analysts expect talks before August 27 deadline New Delhi India's economy could take an additional 0.3 percentage point (pp) annualised hit to real gross domestic product (GDP) growth following US President Donald Trump's decision to impose a fresh 25 per cent duty on Indian imports, Goldman Sachs said. This is over and above the 0.3 pp impact previously estimated from the April 2025 tariff round. According to Goldman Sachs, once exclusions, such as those under Section 232 of the US Trade Expansion Act, 1962, are applied, the effective average tariff rate on Indian exports to the US will settle at around 32 per cent. US doubles tariff on Indian goods On Wednesday evening, Trump issued an executive order imposing an additional 25 per cent duty on Indian imports. This brings the total levy to 50 per cent, effective August 27. India's US exposure significant India's exposure to the US market is substantial. Around 4 per cent of India's GDP is linked to final demand from the United States, Goldman Sachs analysts noted. In FY25, India exported goods worth $86.5 billion to the US, while imports stood at $45.7 billion. Key exports include electronics, chemicals, pharmaceuticals, and textiles, while major imports are crude oil, gems and jewellery, and machinery. Russian crude oil: A flashpoint in India-US trade relations One major point of tension is oil. While Russia provided about one-third of India's crude oil in FY25, the US share was just 4 per cent. That share did rise to 8 per cent in April and May 2025, but the US remains a minor supplier overall. MEA terms move 'unfair' India's Ministry of External Affairs (MEA) called the US action ' unfair, unjustified, and unreasonable.' It said India's energy sourcing was guided by market pricing and supply security. 'It is extremely unfortunate that the US has chosen to penalise India for decisions being made by several other countries in their own national interest,' the MEA said in a strongly worded statement. PM Modi: Farmers, fishers, dairy will not be sacrificed Addressing the MS Swaminathan Centenary International Conference on Thursday, Prime Minister Narendra Modi asserted that India would not compromise on the interests of its farmers, fishers, or dairy industry. ' The interest of our farmers is our top priority … I know that I will have to pay a heavy personal price for this. But I am ready for it,' the Prime Minister said. Room for negotiations remains Goldman Sachs has not revised its India GDP forecast yet, but flagged the possibility of further impact if retaliatory actions or broader trade restrictions follow. 'There is a window for negotiation,' the report said, pointing to the three-week gap before the new tariffs come into effect. A day earlier, the Reserve Bank of India (RBI) held its FY26 GDP growth projection steady at 6.5 per cent, citing a lack of sufficient data to warrant revisions. RBI Governor Sanjay Malhotra, speaking after the Monetary Policy Committee (MPC) meeting, said, ' We do not have sufficient data to revise our GDP forecast,' adding that global uncertainties had already been factored into earlier projections.
