Equity Alert
Nifty 50 falls as heavyweight ICICI Bank down 1%; Sensex retreats
This story was originally published at 14:42 IST on 5 August 2026
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Equity Alert: Nifty 50 falls as heavyweight ICICI Bank down 1%; Sensex retreats
MUMBAI--1409 IST--The Nifty 50, which was largely unchanged from Tuesday's closing level, fell with index heavyweight ICICI Bank declining further. The BSE Sensex retreated from a higher level to be largely flat. Only 18 constituents of the Nifty 50 were up.
At 1316 IST, the Nifty 50 was at 24538.10, down 76.80 points or 0.3% from the previous close. The BSE Sensex was at 78442.59, up 13.64 points. Volatility in the market rose, with India VIX, the fear gauge, rising 3% to 12.5675 points. Small-cap indices were up nearly 1?ch while mid-cap indices rose marginally.
Only six sectoral indices were higher, while the Nifty Private Bank shed nearly 1%. Indices tracking realty, automobile, metal, public-sector banks, infrastructure, and consumer durables sectors were the only ones to rise.
HCL Technologies was a major drag on the Nifty 50, down nearly 2%. Tata Consultancy Services was also down nearly 2%. Index heavyweight ICICI Bank was down over 1%. Its heavyweight peer, HDFC Bank, and Axis Bank were also down over 1?ch.
Kalyan Jewellers India was a major drag on the Nifty 200 index. The stock was down over 4%. Multi Commodity Exchange of India was down almost 3%. In the Nifty 500, CE Info Systems, down nearly 7%, was the worst-hit stock.
Grasim Industries remained the top-performing Nifty 50 stock, up 2%. Larsen & Toubro, Shriram Finance, HDFC Life Insurance Co., and Eicher Motors were up over 1?ch. Among Nifty 200 stocks, Jubilant FoodWorks rose over 5, and was the best performer. Bosch and Godrej Properties were up 4–5%.
Ola Electric Mobility was the top gainer in the Nifty 500. The stock was up over 7?ter the company signed a memorandum of understanding with Axis Energy for the deployment of up to 20 gigawatt-hours of battery storage systems by 2032. (Arundathi A R)
Equity Alert: Ola Electric up 10%; co signs MoU for energy storage systems
MUMBAI--1406 IST--Shares of Ola Electric Mobility jumped over 10% to INR 42.60, their highest level in nearly a month. Over 3 million shares of the company were bought and over one million shares were sold as part of multiple large deals on the National Stock Exchange Wednesday. Earlier in the day, the company had announced its partnership with Axis Energy to deploy up to 20 gigawatt-hour battery energy storage systems by 2032, including a ramp-up to 5 GWh annually from 2028.
This marks the first large-scale partnership for Ola's upcoming energy storage platform, Ola Mahashakti, it said in an exchange filing. The utility-scale, commercial and industrial energy storage platform is scheduled for launch on Aug. 15. "India will need energy storage at a massive scale and our vertically integrated cell-to-system platform enables us to deliver a stronger proposition across safety, performance and total cost of ownership," Bhavish Aggarwal, chairman and managing director of the company, said in the press release.
At 1358 IST, the stock was at INR 41.31, up over 7% from the previous close. So far in the day, over 214 million shares of the company changed hands on the NSE, way higher than the 34.14 million shares traded till the same time Tuesday and its three-month average traded volume of 7.5 million shares. Over 3 million shares of the company were bought in three large deals of 1.05 million shares, 1.36 million shares and 1.13 million shares each at INR 39.51-INR 41.96 per share. Over 1 million shares of the company were also sold at INR 42.02 per share through a large deal on NSE. (Arya S. Biju)
Equity Alert: CE Info shares fall 8%, JM Fincl downgrades stock to "reduce"
MUMBAI--1308 IST--Shares of CE Info Systems fell 8% to hit an intraday low of INR 1,048. This comes after the company's June quarter net profit and revenue both fell on quarter. Subsequently, JM Financial Institutional Securities downgraded the stock to "reduce" from "add" but increased the target price by nearly 20% to INR 1,040.
For Apr-Jun, the technology company reported a consolidated net profit of INR 497.7 million, down 2% on quarter. Its consolidated revenues for the quarter were INR 1.40 billion, down 3%. The company's sales took a hit because of an 8% sequential fall in revenues from the services segment. For the June quarter, the segment had revenues of INR 1.16 billion.
JM Financial downgraded the stock, citing soft visibility in the near term, and cut its earnings per share view by 1–7%. However, the brokerage raised its target multiple on the stock to 22 times the estimates for the financial year 2027-28 (Apr-Jun) from 18 times earlier on the back of healthy order backlog and ensuing medium-term growth visibility.
At 1308 IST, shares of the company were down nearly 7% at INR 1,063.20 on the National Stock Exchange. The stock was the worst performer in the Nifty 500 index. Over 999,000 shares of the company have changed hands on the exchange so far. This is over 11 times the number of shares traded until the same time Tuesday. (Shruti Nair)
Equity Alert: Nifty 50 flat, Sensex holds on to gains; small-caps up 1%
MUMBAI--1145 IST--The Nifty 50 index remained largely flat, while the BSE Sensex maintained its gains. The 50-stock index was mixed, with more than half its constituents trading lower. Fall in index heavyweights HDFC Bank and ICICI Bank capped gains in the index.
At 1128 IST, the Nifty 50 was largely flat at 24612, down 2.90 points from Tuesday's close. The BSE Sensex was at 78741.97, up 313.02 points or 0.4%. India VIX, the volatility index of the equity market, signalled an ease in nervousness among investors. Broader market indices outperformed their benchmark peers, with all small—cap indices gaining nearly 1?ch.
Sectoral indices were mixed, with most of them in the negative territory. The Nifty Private Bank was the worst hit among them, down 0.5%. On other hand, the Nifty Realty gained the most, up over 2%.
While oil prices have corrected, monsoon-related challenges remain a key risk for inflation and are keenly eyed, Dnyanada Vaidya, research analyst of banking, financial services, and insurance at Axis Direct, said in a note. He said the Reserve Bank of India's decision to maintain the repo rate while keeping its neutral stance was largely anticipated as inflationary pressures eased slightly and growth remained resilient. "From a banking perspective, banks fared well in a seasonally weak Q1 (Apr-Jun) with credit growth remaining strong and earnings remaining resilient supported by well contained credit costs and modest opex (operational expenditure) growth despite margin headwinds visible across most banks."
ITC was the key drag on the Nifty 50 index, down over 1%. HCL Technologies, Apollo Hospitals Enterprise, Tata Consultancy Services, and Coal India were down over 1?ch. Meanwhile, Grasim Industries was the top gainer among 50-stock members, up over 2%. (Arundathi A R)
Equity Alert: Manipal Health lists at INR 652 on NSE at over 10% premium
MUMBAI--1115 IST--Shares of Manipal Health Enterprises listed at INR 652 on the NSE, a premium of 10.5% to the issue price of INR 590. On the BSE, shares of the company were listed at 655, at a premium of 11% to the issue price. At 1104 IST, shares of the company were nearly 11% higher at INR 652.80 on the NSE. Over 31 million shares of the company have changed hands on the exchange so far.
The initial public offering of Manipal Health Enterprises, which closed on Friday, was subscribed nearly five times, with the company receiving bids for 443.07 million shares against 90.09 million shares on offer. It has raised INR 41.67 billion from anchor investors by allotting 70.63 million shares at INR 590 apiece.
Manipal Health operates a pan-India network of multispecialty hospitals to deliver a range of care services--from outpatient services to tertiary and quaternary interventions. As of Sept. 30, it operated 38 hospitals. It has 10,761 licensed beds across 14 states and union territories. (Arundathi A R)
Equity Alert: Nifty 50 choppy, Sensex up; MPC decision fails to lend cues
MUMBAI--1040 IST--The movement in the benchmark indices continued to be divergent even after one hour into trading. While the Nifty 50 was choppy ever since opening, the BSE Sensex continued to maintain its gains. Both the indices did not react to the Reserve Bank of India's Monetary Policy Committee's decision to hold the interest rate at 5.25%, which was in line with expectations. This follows a similar decision by the central banks of the US, the UK, and Japan, which held their key interest rates last week. While the Indian apex bank's decision was unanimous, in the above countries, there were dissents. However, the market is expecting a hike by the end of 2026 or by March.
At 1038 IST, the Nifty 50 was at 24576.50 points, down 38.40 points or 0.2%. The index is expected to find support at 24400 points during the day, according to analysts. The BSE Sensex was at 78640.42 points, up 211.47 points or 0.3%. Rate-sensitive sectors such as real estate and automobile saw huge buying interest. The Nifty Realty and the Nifty Auto indices were over 1-2% higher. Meanwhile, private banks and fast-moving consumer goods fell. Broader market indices also were in the green; however, small-cap indices fared better than their mid-cap peers.
RBI Governor Sanjay Malhotra was concerned that the West Asia war was amplifying volatility in the market and expects global economic growth to soften. Malhotra also emphasised that uncertainty on the trade deal lingers as the US continues to impose tariffs. He also said that high-frequency data showed domestic economic activity was resilient in the June quarter. The RBI increased the growth forecast of financial year 2026-27 (Apr-Mar) to 6.7% from 6.6?rlier. It also revised the Apr-Jun GDP growth forecast to 7.0% from 6.6?rlier.
Further, the RBI cut down the FY27 CPI inflation forecast by 10 basis points to 5.0% from 5.1% projected earlier. While it cut down the CPI inflation estimates for the September quarter, it increased inflation projections for the March quarter by 10 bps. Meanwhile, the core CPI inflation estimate for FY27 was brought down by 40 basis points to 4.3%. (Gopika Balasubramanium)
Equity Alert: Indices open higher ahead of RBI MPC meeting outcome
MUMBAI--0923 IST--Indices opened higher, buoyed by positive cues from the global markets and commentary from US Treasury Secretary Scott Bessent indicated that the US and Iran could be nearing a deal to reopen the Strait of Hormuz. While the Nifty 50 was marginally higher, the BSE Sensex pared some gains and was up around 0.6%. Buying interest was evident in companies tied to real estate, infrastructure, and public-sector companies. However, investors sold fast-moving consumer goods and healthcare stocks.
At 0917 IST, the Nifty 50 index was at 24643.15 points, up 28.25 points, or 0.1%. The 50-stock index is expected to take support at 24400 points and face resistance at 24700 points. These indices are expected to stay in broader range. The BSE Sensex was at 78899.90, up 470.14 points, or 0.6%. There was a sharp divergence in the opening levels of the Nifty 50 and the Sensex rose sharply. Broader market indices also gained sharply.
Among stocks, Interglobe Aviation, Larsen & Toubro, Mahindra & Mahindra, and financiers like Bajaj Finance, Shriram Finance, and Jio Financial Services were the top gainers, gaining 1-2%. Meanwhile, traders sold shares of Apollo Hospitals, Nestlia India, and SBI Life Insurance Co. fell over 1-2%.
Investors will track the Reserve Bank of India's Monetary Policy Committee meeting outcome, as declared by the governor Sanjay Malhotra at 1000 IST. It is widely expected that the committee will hold policy repo rate at 5.25%, for fourth time in a row. It is to be seen whether the decision was unanimous or whether there would be in any dissent. Rate-sensitive sectors such as banking and financial services, housing finance, real estate, consumer durables, and automotive will also be closely monitored.
Last week, the central banks of the US, the UK, and Japan kept their key interest rates unchanged. This decision was on account of concerns over near-term inflation due to the war in West Asia. However, the decision was not unanimous as some policymakers within the respective committees voted for a hike. The Bank of England had said it is ready for a hike if the war escalates from what it is now. (Gopika Balasubramanium)
Equity Alert: Most Asian indices open higher; tech cos lead gains
MUMBAI--0820 IST--Most Asian indices opened higher Wednesday, taking positive cues from the US market. The US and Iran could be nearing a deal to reopen the Strait of Hormuz, said US Treasury Secretary Scott Bessent. Japan's SoftBank Group Corp. advanced nearly 12% and Advantest rose more than 7%. This lifted the regional benchmark Nikkei 225 above 3%. South Korea's SK Hynix and Samsung Electronics rose nearly 6% and 3%, respectively. This took the regional benchmark Kospi above 4%.
During early trade, Australia's benchmark S&P/ASX 200 rose 0.7%. Heavyweight BHP Group rose nearly 3%. The multinational mining company Rio Tinto rose more than 1%. Shares of Fortescue, an iron ore producer, rose slightly. Mainland China's CSI 300 fell slightly, dragged down by a fall in artificial intelligence hardware stocks in the region, Reuters reported. This came after the news that the Trump administration was drafting a ban on US imports of new models of Chinese data centre components. The CSI 300 Telecommunication Services Index fell 6% in early trading.
On the macroeconomic front, Japan's real wages grew 1.6% on year in June, Reuters reported. This was the sixth consecutive month of increases, as per the report.
Following are the levels of key indices in the region at 0758 IST:
|
Index |
Level |
Change in % |
|
Nikkei 225 Day |
66099.58 | 3.4 |
|
TOPIX FIRST SECTION |
4029.85 | 1.7 |
|
S&P/ASX 200 Index |
9175 | 0.3 |
|
KOSPI Index |
6637.24 | 4.4 |
|
Hang Seng Index |
25936.71 | 0.3 |
|
CSI 300 Index |
4595.88 | (-)0.1 |
|
FTSE Singapore Strait Times |
5590.85 | (-)0.4 |
(Deesha Jadhav)
Equity Alert: Indices to move in range Wed; MPC decision, oil prices eyed
MUMBAI--0815 IST--Domestic equity indices are seen rangebound Wednesday and then moving upwards amid uncertainties over the reopening of the Strait of Hormuz waning. Iran confirmed that talks with Oman for safe traffic through the Strait were advancing. Crude oil prices also went down to their three-week low of $78.41 a barrel. Market participants will track the Reserve Bank of India's Monetary Policy Committee decision Wednesday, besides developments in West Asia, crude oil prices, and corporate earnings. Shares of Power Grid Corp. of India will be in focus as the company will detail its June quarter earnings later in the day.
At 0810 IST, the August futures contract of GIFT Nifty was largely flat from its previous close at 24748. This was over 130 points higher than the Nifty 50's previous close of 24614.90 after the closing auction. After the continuous trading session at 1515 IST, the Nifty 50 settled at 24463.45 points Tuesday, down 1.3%.
"Going forward, 24600 spot will continue to act as immediate resistance followed by 24850 spot levels," Vipin Kumar, assistant vice president of research at Globe Capital Market, said. "On the flip side, a decisive close below 24400 spot could drag the index toward the 24050–24130 zone in the near term, confirming further consolidation. The RBI monetary policy decision scheduled for Aug. 5, 2026, could serve as the key trigger for the next short-term directional move."
Sundar Kewat of Ashika Institutional Equity Research expects the index to continue maintaining a positive structure. "Any dip towards the 24500–24600 zone should be viewed as a buying opportunity for fresh accumulation. As long as the index sustains above this support range, the next upside target is seen at 25200," he said.
The Reserve Bank of India's Monetary Policy Committee is expected to keep interest rates on hold and maintain a neutral policy stance Wednesday, owing to uncertainty over the impact of the war in West Asia and the El Nino condition on economic activity and inflation. All 18 economists and market participants polled by Informist expected the Monetary Policy Committee to hold the repo rate at 5.25%.
Power Grid Corp. of India Ltd. is expected to report a net profit of INR 39 billion for the June quarter, up 7% on year. Its revenues for the reporting quarter are expected at nearly INR 123 billion, a jump of nearly 24% on year. The electric power transmission utility company's revenues are likely to be aided by high demand for power due to a delayed monsoon. However, bottom line growth is seen relatively slower, despite commissioning of projects and asset capitalisation, due to continued capital expenditure, according to analysts.
All three major US indices closed significantly higher Tuesday, with the Nasdaq Composite gaining 2.6%. Asian equity indices were mixed, with most of them gaining in early trade. South Korea's KOSPI was the top gainer, up over 4%. (Arundathi A R)
Equity Alert: US indices end higher Tue on good earnings, US-Iran deal hope
MUMBAI--0716 IST--US markets closed higher Tuesday, boosted by companies' earnings and comments from the Treasury Secretary Scott Bessent that the US and Iran could be nearing a deal to reopen the Strait of Hormuz. The technology-heavy Nasdaq Composite closed almost 3% higher. The Dow Jones Industrial Average and the S&P 500 both closed around 2% higher, and hit record highs.
Shares of Caterpillar rose more than 5?ter the company reported higher earnings for the June quarter. Shares of tech company Palantir rose nearly 30?ter the company reported a more than two-fold on-year increase in its revenue for the June quarter. The company's CEO, Alex Karp, termed the company's second quarter earnings as "otherworldly."
"The only thing that really mattered was the question on ROI driving earnings higher and the question of whether or not earnings are in a bubble--and the answer is no," CNBC quoted Alicia Levine, chief investment officer at BNY Wealth, as saying.
Elon Musk, founder of SpaceX, said that the company's capital expenditure for the June quarter rose to $18.4 billion. The shares shed 7% post this during the after-hour trading. The chipmaker Advanced Micro Devices fell 8?ter it posted adjusted earnings which beat the Street's estimates by a whisker.
Investors await Automatic Data Processing's private payrolls report for July, the S&P Global Services Purchasing Managers Index and the Institute for Supply Management's non-manufacturing readings for July, all due Wednesday. Companies which will be posting their earnings on Wednesday include e.l.f. Beauty Inc, Disney, Uber, Eli Lilly, and DoorDash, CNBC reported.
Following were the closing levels of major US indices Tuesday:
|
Index |
Level |
Change in % |
|
Dow Jones Industrial Average |
54085.88 | 1.7 |
|
NASDAQ Composite |
26584.99 | 2.6 |
|
S&P 500 |
7736.52 | 1.8 |
(Deesha Jadhav)
US$1 = INR 95.15
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Rajeev Pai
All prices from National Stock Exchange, unless otherwise specified.
All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.
All times are Indian Standard Time.
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