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Informist, Wednesday, Aug. 12, 2026

 

By Gopika Balasubramanium

 

MUMBAI – Persistent selling pressure in shares of large-cap companies since the market opened resulted in the benchmark indices ending lower Wednesday. Traders became particularly bearish on Tata group companies after Tata Sons Chairman Natarajan Chandrasekaran's statement that he will not seek reappointment at the company's annual general meeting, scheduled to be held Tuesday, because of the lack of consensus in the board on his continuation. Following this, uncertainty mounted on who will helm the holding company which runs major listed firms such as Tata Consultancy Services, Tata Consumer Products, Tata Motors Passenger Vehicles, and Tata Steel.

 

"It has been six months since that board meeting, and no resolution has been reached till date," Chandrasekaran said in his statement, adding that he would continue in the position until his term ends in February. The resolution to give Chandrasekaran another five-year term as chairman was tabled at the Tata Sons board meeting on Feb. 24. "I have asked the Board to decide on the succession soon to ensure a proper transition," the chairman added.

 

TCS, the company that Chandrasekaran headed before he was elevated to the position of Tata Sons chairman in 2017, was hit the hardest by the news. The stock fell to as low as INR 2,300.10 before ending at INR 2,349.70. Tata Consumer, Tata Motors PV, and Tata Steel ended 1-2% lower. Trent, Titan Co., and Tata Technologies ended 0.6-2.7% lower. Meanwhile, Tata Chemicals and Tata Motors ended around 1-2% higher. While some analysts felt the negative reaction in the Tata Group stocks was uncalled for, others believe the developments in Tata Sons would be a risk for the group in the long run.

 

"This should not be significant at all for the market, the reaction is unwarranted, as there is a system at place, and it (Tata Sons) is a large institution," G. Chokkalingam, head of research and founder at Equinomics Research, said. "It's not like the business did so well under him, from a market perspective, and the group can easily find talent for the post," he added. Chokkalingam expects the shares to recover but said the recovery may take time as the market is currently weak. He expects domestic market-facing companies such as Tata Consumer and Tata Motors to recover faster. In his opinion, Tata Technologies has done better than other Tata group companies.

 

Wednesday, the Nifty 50 ended at 24435.95 points, down 35.75 points or 0.2%. The index had opened slightly lower but kept moving southwards as the session progressed. At one stage, the index had fallen to as low as 24265.95 points, sliding past the near-term support levels of 24400-24300 points. Among sectoral indices, the Nifty IT fell 2?cause of the sharp fall in heavyweight TCS. It was followed by the Nifty FMCG index, which closed around 1% lower. The broader market indices were mixed, with the mid-cap indices closing higher and the small-cap ones coming under selling pressure. The BSE Sensex settled at 77966.35 points, down 187.90 points or 0.2%.

 

Among other major moves, aluminium companies such as Hindalco Industries and National Aluminium Co. rose 3% and over 8%, respectively, after reports that Norwegian company Norsk Hydro's Alunorte refinery announced a reduction to its alumina output. This company is among the world's largest alumina producers and the cut will result in the price of the ore rising. This is seen as a positive for domestic aluminium makers.

 

Shares of most hospital companies continued to fall for the second session with Fortis Healthcare, Aster DM Quality Care, Max Healthcare Institute, Global Health, Apollo Hospitals Enterprise, and Narayana Hrudayalaya ending 1-4% lower. This was after a parliamentary committee on health and family welfare recommended capping hospital room rents and formulating fixed package rates for standard medical and surgical procedures.

 

Shares of Godrej Consumer Products fell over 11% intraday to INR 907.80 per share, the lowest in over three years. The sharp decline came after the company announced the resignation of Managing Director and Chief Executive Officer Sudhir Sitapati effective Tuesday. The views of brokerages were mixed, with several of them flagging concern around execution and the company's next phase of strategy, while others retained their positive stance. The stock ended 11% lower from Tuesday at INR 910.

 

* Of the Nifty 50 stocks, 17 rose, 30 fell, and three were unchanged 

* Of the Sensex stocks, 8 rose, 21 fell, and one were unchanged

* On the NSE, 1,504 stocks rose, 1,868 fell, and 104 were unchanged

* On the BSE, 1,867 stocks rose, 2,462 fell, and 206 were unchanged
* Nifty IT: down 1.5%; Nifty FMCG: down 0.7%; Nifty PSU Bank: up 2.1%

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BSE                                            NSE

Sensex: 77966.35, down 187.90 points or 0.2%   Nifty 50: 24435.95, down 35.75 points, or 0.2%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
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)

 

End

 

US$1 = INR 95.33

 

Edited by Rajeev Pai

 

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