Nifty ends above 24,550; media shares in demand

Business Standard

5 days ago

The domestic equity benchmarks ended with small gains today, snapping a two-day losing streak, despite investor concerns over the U.S. imposing an additional 25% tariff on Indian exports. The Nifty settled above the 24,550 mark. Media, IT and pharma shares advanced, while oil & gas and realty shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, added 79.27 points or 0.10% to 80,623.26. The Nifty 50 index rose 21.95 points or 0.09% to 24,596.15.
In the broader market, the S&P BSE Mid-Cap index rose 30% and the S&P BSE Small-Cap index fell 0.18%.
The market breadth was negative. On the BSE, 1,869 shares rose and 2,168 shares fell. A total of 154 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 2.27% to 11.69.
Trump's Tariff:
United States President Donald Trump announced an additional 25% tariff on Indian goods on August 6. This effectively doubles the total import duties to 50%. The decision responds to Indias ongoing purchase of Russian oil, which the U.S. believes undermines its sanctions. The new tariffs will come into effect on August 27.
The move is expected to severely impact key Indian export sectors, including leather, chemicals, footwear, gems and jewellery, textiles, and shrimp.
IPO Update:
The initial public offer (IPO) of Highway Infrastructure received bids for 4,63,15,27,226 shares as against 1,60,43,046 shares on offer, according to stock exchange data at 15:35 IST on Wednesday (6 August 2025). The issue was subscribed 288.69 times.
The initial public offer (IPO) of All Time Plastics received bids for 30,36,528 shares as against 1,05,46,297 shares on offer, according to stock exchange data at 15:35 IST on Thursday (7 August 2025). The issue was subscribed 0.29 times.
The initial public offer (IPO) of JSW Cement received bids for 4,60,50,960 shares as against 18,12,94,964 shares on offer, according to stock exchange data at 15:37 IST on Wednesday (6 August 2025). The issue was subscribed 0.25 times.
Buzzing Index:
The Nifty Media index rose 0.99% to 1,636.80. The index shed 0.05% in the past two trading sessions.
PVR Inox (up 2.99%), Zee Entertainment Enterprises (up 1.99%), Nazara Technologies (up 1.07%), Dish TV India (up 0.97%) and Sun TV Network (up 0.46%), D B Corp (up 0.33%) advanced.
On the other hand, Network 18 Media & Investments (down 1.9%), Tips Music (down 1.55%) and Hathway Cable & Datacom (down 1.04%) edged lower.
Stocks in Spotlight:
Hero Motocorp advanced 4.37% after the companys standalone net profit rose 0.3% to Rs 1,125.70 crore despite a 5.6% decline in revenue from operations to Rs 9,578.86 crore in Q1 FY26 over Q1 FY25.
Sula Vineyards declined 3.84% after the companys consolidated net profit tumbled 86.7% to Rs 1.94 crore on a 9.3% fall in revenue from operations (excluding net excise duty) to Rs 109.64 crore in Q1 FY26 over Q1 FY25.
Trent shed 0.85%. The company reported a 9.45% increase in consolidated net profit to Rs 429.69 crore in Q1 FY26 as against Rs 392.57 crore posted in Q1 FY25. Revenue from operations jumped 18.98% YoY to Rs 4,883.48 crore in the quarter ended 30 June 2025.
Jindal Stainless declined 1.53%. The company has reported an 11% rise in consolidated net profit to Rs 715 crore on an 8% increase in revenue from operations to Rs 10,207 crore in Q1 FY26 over Q1 FY25.
Rain Industries surged 6.41% after the company reported a net profit of Rs 60.70 crore in Q2 FY25, compared to a loss of Rs 77.88 crore in Q2 FY24. Revenue from operations rose 7.5% to Rs 4,401.38 crore from Rs 4,094.15 crore a year earlier.
Bharat Heavy Electricals (BHEL) tanked 4.76% after the companys consolidated net loss widened to Rs 445.50 crore in Q1 FY26 compared with a net loss of Rs 211.40 crore in Q1 FY25. Revenue from operations saw a marginal year-on-year (YoY) increase of 0.03%, reaching Rs 5,486.91 crore in the quarter ended 30 June 2025.
IRCON International declined 1.89% after the companys consolidated net profit dropped 26.75% to Rs 164.10 crore in Q1 FY26, compared to Rs 224.03 crore in Q1 FY25. Revenue from operations declined 21.89% to Rs 1,786.28 crore during the quarter, compared to Rs 2,287.13 crore in the same quarter last year.
VIP Industries rose 1.66%. The firm reported a consolidated net loss of Rs 13.10 crore in Q1 FY26 compared with a net profit of Rs 4.04 crore in Q1 FY25. Revenue from operations declined 12.12% year on year (YoY) to Rs 561.43 crore in the quarter ended 30 June 2025.
Fortis Healthcare jumped 2.83% after the company reported a 56.83% surge in consolidated net profit to Rs 260.28 crore in Q1 FY26, compared to Rs 165.96 crore in Q1 FY25. Revenue from operations rose 16.55% year-on-year (YoY) to Rs 2,166.72 crore in the quarter ended 30 June 2025.
RateGain Travel Technologies added 3.04% after the companys consolidated net profit jumped 3% to Rs 46.93 crore on a 4.96% increase in revenue from operations to Rs 272.91 crore in Q1 FY26 over Q1 FY25.
Global Markets:
Most European markets traded higher on Thursday as investors turned their focus to the upcoming Bank of England monetary policy meeting.
Most Asian indices ended higher even as U.S. President Donald Trump vowed to impose a 100% tariff on imports of semiconductors and chips.
However, the companies that are building in the United States would be exempted from the said tariff.
Meanwhile, South Korea posted a record-high current account surplus in June on strong demand for technology exports, central bank data showed on Thursday.
The country's current account stood at a surplus of $14.27 billion, up from $10.14 billion in May. It was reportedly the biggest monthly surplus in the data series dating back to January 1980.
South Korea's trade deal with the U.S. will take a huge burden off monetary policymakers at their upcoming meeting later this month, the country's central bank governor reportedly said on Thursday at his first meeting with the newly appointed finance minister.
The Bank of Korea kept its benchmark interest rate unchanged at 2.50% last month, but a majority of board members signaled another rate cut in the next three months and warned of "significant" economic uncertainty from the U.S. tariffs. The central bank next meets on August 28.
All three major equity averages on Wall Street finished with gains on Wednesday.
The S&P 500 advanced 0.73% to finish at 6,345.06, while the Nasdaq Composite jumped 1.21%, closing at 21,169.42. The Dow Jones Industrial Average also rose 81.38 points, or 0.18%, to end the day at 44,193.12.