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Informist, Thursday, Aug. 28, 2025

 

By Simran Rede

 

MUMBAI – Headline equity indices fell nearly 1% Thursday after the additional 25% punitive US tariff kicked in Wednesday. Following the imposition of the extra tariff, White House trade adviser Peter Navarro again said New Delhi is funding the Ukraine-Russia war, intensifying the pressure on India to halt purchases of Russian crude oil. Navarro tagged the conflict as "Modi's war" in an interview with Bloomberg TV.

 

However, at the US House Foreign Affairs Committee, the opposition Democratic Party Thursday criticised the move, saying "singling out India" would hurt the US as well. The committee said it was unfair to single out New Delhi while sparing China, despite the latter's far greater imports of Russian oil. 

 

The market opened lower and come off the lows mid-session but fell again on likely caution due to continued selling pressure. The Nifty 50 closed at 24500.90, down 211.15 points or 0.9%. The BSE Sensex ended at 80080.57, down 705.97 points or 0.9%. HDFC Bank and ICICI Bank, which have the highest weightage in the Nifty 50, were the biggest drag on the index. Traders unwound their long positions Thursday on the expiry of the August monthly contract of Nifty 50 derivatives.

 

Barring the Nifty Consumer Durables, all sectoral indices ended on a negative note. The domestic-focused consumer durables index closed 0.6% higher. The automobile sector was among those hit the least because of its relative immunity to US tariffs. Hero MotoCorp and Maruti Suzuki India ended around 0.4% and 0.3% higher, respectively, and were among the top gainers among the Nifty 50 constituents. Jefferies upgraded Hero MotoCorp to "hold" from "underperform" and raised its target price on the stock by nearly 37% to INR 5,200. The stock closed at INR 5,091.70.

 

Ola Electric Mobility rose nearly 8% higher to be the top gainer in the Nifty 200. The stock closed higher for the third straight session. The positive momentum was boosted after the company got the government's production-linked incentive scheme certification for its third-generation scooter portfolio.

 

Stocks of export-focused companies, including textile manufacturers, remained under pressure due to the imposition of 50% tariffs on imports to the US. Vardhman Textiles rose over 13% and was the top gainer in the Nifty 500, snapping a five-session falling streak. The share price rose after the government extended the import duty exemption on cotton till Dec. 31 from Sept. 30, which will give significant relief on raw material costs. The extension of the deadline is to give further support to cotton exporters, the government said. Last week, the government had removed the 11% duty on raw cotton imports till Sept. 30.

 

Nifty Financial Services, Nifty Bank, Nifty PSU Bank, and Nifty Private Bank all closed over 1% lower and were among the worst hit in the pack of sectoral indices. Rising yields on bonds and the increasing cost of funds for non-bank lenders added to the pressure on the banking and financial services sector. Nifty Financial Services and Nifty Bank are down 3.7% and 2.9% respectively over 90 days.

 

The yield on the 10-year benchmark gilt has risen over 10 basis points over the past seven trading sessions on concerns of fiscal slippage related to the proposal to cut goods and services tax. Investor sentiment towards lenders is already cautious because of the near-term stress on margins due to the recent "jumbo" rate cut by the Reserve Bank of India. Shriram Finance fell 3.9% and was the worst performer in the Nifty 50.

 

Shares of InterGlobe Aviation closed over 5% lower to be among the top losers in the Nifty 200. Interglobe Aviation was down nearly 5?ter large deals were recorded on exchanges at a discount to Tuesday's closing price. Reports said the company's promoter group was the likely seller.

 

Data from the Directorate General of Civil Aviation Wednesday showed domestic airlines carried 12.61 million passengers in July, registering a fall of around 3% on year. However, InterGlobe Aviation's IndiGo airline retained its top spot in the domestic market with a share of 65.2%, up from 64.5% in June. The low-cost airline carried 8.22 million passengers in July, down over 6% from June. Its passenger load factor was 84.1% in July, up from 85.4% in June.

 

Jaiprakash Power Ventures closed at the 5% upper circuit at INR 18.95, snapping a three-session losing run after announcing capital expenditure plans to expand solar capacity. Trading in the stock was paused for the entire session as it hit the upper circuit. Gujarat Pipavav Port fell over 5% as it traded ex-dividend. 

 

Mangal Electrical Industries closed nearly 5% lower after listing at a discount of nearly 1% to its issue price of INR 561. The stock listed at INR 556 Thursday. 

 

* Of the Nifty 50 stocks, 13 rose and 37 fell 

* Of the Sensex stocks, 7 rose and 23 fell

* On the NSE, 957 stocks rose, 2,015 fell, and 103 were unchanged

* On the BSE, 1,458 stocks rose, 2,651 fell, and 149 were unchanged

* Nifty India Defence: down 1.6%; Nifty IT: down 1.6%; Nifty Consumer Durables: up 0.6%

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BSE                                              NSE

Sensex: 80080.57, down 705.97 points or 0.9%     Nifty 50: 24500.90, down 211.15 points or 0.9%

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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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