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Informist, Friday, Aug. 8, 2025

 

By Gopika Balasubramanium

 

MUMBAI – The benchmark equity indices closed at a three-month low Friday, weighed down by negative sentiment in the market after the US doubled its tariff on Indian imports in an attempt to force the country to stop buying Russian crude oil. Market participants said there is uncertainty in the market as to when and how India and the US will come to an agreement with respect to the import duties and Russian oil imports. India and the US only begin their next round of negotiations on Aug. 25, two days before the ad valorem duty of 25% comes into effect.

 

Traders shed domestic stocks also because of high valuations and disappointment with the June quarter financial results of Indian corporations. A selling surge in the final half-hour of trade pulled the indices down sharply and both closed a percentage point lower. This was in contrast to Thursday, when traders covered their short postitions during the final minutes of trade, helping the indices to recover from their intraday lows.

 

The Nifty closed at 24363.30 points, down 232.85 points or 1%. The index breached a key support at 24400 points and failed to close above it. The 50-stock index closed lower in three of the five trading sessions this week. It also closed lower for the sixth consecutive week.

 

Friday, the fall in the 50-stock index was mainly because of a fall in index heavyweights such as HDFC Bank and Reliance Industries. All the broader market indices also ended lower, feeling the heat of selling pressure from traders. The wider Nifty Midcap 100 index fell the most in this pack and closed nearly 2% lower. Meanwhile, Dalal Street's fear gauge, INDIA VIX, closed nearly 4% higher at 12.0325. The BSE Sensex closed at 79857.79 points, down 765.47 points or 1%. The 30-stock index closed below the psychologically important level of 80,000 points.

 

All the sectoral indices closed lower Friday with the Nifty Realty falling the most. The real-estate sectoral index fell for the fourth session in a row to closed over 2% down. This was mainly a sentiment-led reaction as the Reserve Bank of India kept the policy rate unchanged at 5.50% and also on the higher inflation forecast for next year, which reduces the probability of rate cuts. Godrej Properties and The Phoenix Mills closed 3-4% lower and were the worst-hit in the Nifty Realty index.

 

The Nifty Consumer Durables ended nearly 2% lower and was the next worst-hit sectoral index. PG Electroplast closed 20% lower after its core revenue for June quarter fell 14% on year. However, the company still reported a net profit for the period as its total expenses fell over 16% on year. Kalyan Jewellers also ended nearly 11% lower and hit a one-month low intraday despite the company's upbeat earnings. At the same time, Kajaria Ceramics closed 3.5% higher. 

 

Among individual stocks, Bharti Airtel closed nearly 3% lower, ending at a near-two-month low after large deals were executed on the exchanges at a discount to the stock's closing price Thursday. This stock was the weakest performer in the Nifty 50. Biocon closed nearly 6% lower as its net profit of INR 314 million for the June quarter fell short of analysts' expectations.

 

On the other hand, Cummins India closed 3.6% higher after the company's net profit for the June quarter was better than expected and the net profit growth was the highest in five quarters. Shares of Kalpataru Projects International closed 6% higher after the company's net profit for the June quarter beat the Street's view. 

 

* Of the Nifty 50 stocks, 9 rose and 41 fell 

* Of the Sensex stocks, 26 rose and 4 fell

* On the NSE, 984 stocks rose, 1,969 fell, and 85 were unchanged

* On the BSE, 1,523 stocks rose, 2,506 fell, and 144 were unchanged

* Nifty Realty: down 2.1%; Nifty Consumer Durables: down 1.9%; Nifty Oil & Gas: down 0.1%

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BSE                                               NSE

Sensex: 79857.79, down 765.47 points or 1%         Nifty 50: 24363.30, down 232.85 points or 1%

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S&P BSE Sensitive Index	Nifty 50
Lifetime High: 85978.25 (Sept. 27, 2024)	: Lifetime High: 26277.35 (Sept. 27, 2024)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26216.05 (Sept. 26, 2024)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 84058.90 (Jun. 27)	: 2025 Closing High: 25637.80 (Jun. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 84099.53 (Jun. 30)	: 2025 High (intraday): 25669.35 (Jun. 30)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

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End

 

Edited by Rajeev Pai

 

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