Indian equity benchmarks remained flat in morning trade, weighed down by persistent foreign fund outflows. Foreign Institutional Investors (FIIs) sold equities worth RS. 3,856.51 crore on Thursday, as per exchange data. Sentiment stayed cautious after the RBI Bulletin flagged downside risks to overall demand due to uncertainties around US trade policies, though it noted that inflation outlook has turned more benign on account of subdued food prices and favourable base effects.

Sector-wise, aviation stocks were under focus after ratings agency ICRA projected higher losses of RS. 9,500–10,500 crore in FY26 for the Indian aviation industry, compared to an estimated RS. 5,500 crore in FY25, largely due to geopolitical headwinds and trade challenges.

On the global front, Asian markets traded mostly in green following a tech-led rally on Wall Street, with investors eyeing key US inflation data for cues on the Federal Reserve’s rate outlook.

The BSE Sensex was trading at 80,120.76, up 40.19 points or 0.05%, moving between 79,944.67 and 80,277.68. Market breadth was even with 15 stocks advancing and 15 declining. The broader indices, however, were in red as the BSE Midcap index slipped 0.41% and the Smallcap index dipped 0.19%.

On BSE, Bankex (+0.40%), FMCG (+0.27%), Capital Goods (+0.24%) and Industrials (+0.16%) led gains, while Realty (-1.22%), Utilities (-0.69%), Auto (-0.56%), IT (-0.55%) and Metal (-0.54%) were top laggards.

Top Sensex gainers included Trent (+2.39%), ITC (+1.25%), Kotak Mahindra Bank (+1.23%), Ultratech Cement (+1.14%) and Bharat Electronics (+0.89%). Major losers were Mahindra & Mahindra (-2.17%), Eternal (-1.93%), Infosys (-1.20%), NTPC (-0.92%) and Adani Ports & SEZ (-0.71%).

Meanwhile, India’s industrial output (IIP) grew 3.5% in July 2025, the fastest pace in four months, supported by manufacturing growth. This compared with 5% growth in July 2024. In April–July FY26, industrial production rose 2.3% versus 5.4% a year earlier.

Manufacturing output rose 5.4% in July 2025 (vs. 4.7% in July 2024), while mining contracted 7.2% (vs. +3.8% last year). Power generation edged up 0.6% compared to 7.9% a year ago.

Among manufacturing groups, strong growth came from manufacture of electrical equipment (+15.9%), basic metals (+12.7%) and non-metallic mineral products (+9.5%).

By use-based classification, primary goods contracted 1.7% (vs. +5.9% last year), capital goods grew 5% (vs. 11.7%), and intermediate goods expanded 5.8% (vs. 7%). Infrastructure/construction goods surged 11.9% (vs. 5.5%), while consumer durables grew 7.7% (vs. 8.2%) and non-durables rose 0.5% (vs. -4.2%).

The CNX Nifty traded at 24,515.35, up 14.45 points or 0.06%, after moving between 24,464.15 and 24,564.35. The index saw 22 stocks advancing and 28 declining.

Top Nifty gainers were Trent (+1.81%), Kotak Mahindra Bank (+1.32%), Shriram Finance (+1.23%), ITC (+1.17%) and Ultratech Cement (+1.13%). Major losers were Eternal (-2.19%), Mahindra & Mahindra (-1.98%), Infosys (-1.25%), Dr. Reddy’s Lab (-0.90%) and Adani Enterprises (-0.87%).

In Asia, Hang Seng (+0.70%), Straits Times (+0.35%), Taiwan Weighted (+0.45%) and Shanghai Composite (+0.16%) gained, while Nikkei 225 (-0.35%), Jakarta Composite (-2.27%) and KOSPI (-0.21%) declined.

Domestic equity indices traded higher in late morning deals, supported by buying in Trent, Bharat Electronics, ITC, Ultratech Cement and Larsen & Toubro. Positive momentum came after government data showed India’s industrial production growth touched a 4-month high of 3.5% in July, led by strong performance in the manufacturing sector. However, gains were capped amid concerns over the impact of U.S. tariffs on Indian goods.

On the BSE sectoral front, Capital Goods, Industrials, FMCG, Bankex and Telecom indices gained, while Auto, Utilities, IT, Oil & Gas and TECK witnessed selling pressure.

Globally, Asian markets traded mixed as investors digested key economic data. Tokyo’s core CPI rose 2.5% year-on-year in August, easing from July’s 2.9%, while Japan’s unemployment rate fell to 2.3% from 2.5%. Back home, Reliance Industries remained in focus ahead of its Annual General Meeting (AGM).

The BSE Sensex is currently at RS. 80219.52, up by 138.95 points or 0.17%, after moving between RS. 79944.67 and RS. 80288.44. On the index, 22 stocks advanced while 8 declined. The broader markets also traded in green, with the BSE Midcap index up 0.32% and the Smallcap index up 0.53%.

Top sectoral gainers included Capital Goods (up 1.03%), Industrials (0.93%), FMCG (0.77%), Bankex (0.45%) and Telecom (0.45%). Meanwhile, Auto (down 0.36%), Utilities (0.22%), IT (0.16%), Oil & Gas (0.10%) and TECK (0.07%) were among the losers.

On the Sensex, Trent rose 2.03%, Bharat Electronics 1.81%, ITC 1.52%, Ultratech Cement 1.48% and L&T 1.17%. On the flip side, Mahindra & Mahindra fell 2.07%, Eternal 1.54%, Infosys 1.10%, NTPC 0.79% and Titan 0.67%.

The RBI’s latest bulletin highlighted downside risks to domestic demand due to uncertainties over U.S. trade policies. However, it noted that inflation is likely to remain benign, aided by muted food prices and favourable base effects. S&P’s sovereign rating upgrade for India is also expected to boost capital inflows and improve yields.

Favourable monsoon conditions are expected to support kharif crop output and rising rural wages could strengthen demand in the second half of FY25. Alongside rate cuts, fiscal support and improving consumer sentiment, these factors are seen sustaining aggregate demand.

The CNX Nifty is currently trading at RS. 24556.40, up by 55.50 points or 0.23%, after moving between RS. 24464.15 and RS. 24564.35. The index saw 35 stocks advancing against 15 declining.

Top Nifty gainers included Shriram Finance (up 2.75%), Trent (2.02%), Bharat Electronics (1.77%), Ultratech Cement (1.58%) and ITC (1.46%). The losers were Mahindra & Mahindra (down 2.10%), Eternal (1.55%), Infosys (1.10%), Apollo Hospital (0.82%) and Nestle (0.65%).

Across Asia, Nikkei 225 slipped 118.79 points or 0.28% to 42,710.00, Taiwan Weighted lost 0.01%, Jakarta Composite fell 2.33% and KOSPI dropped 0.32%. On the positive side, Shanghai Composite gained 0.24%, Hang Seng advanced 1.01% and Straits Times rose 0.36%.

Indian equity benchmarks pared earlier gains and slipped below neutral lines, weighed down by losses in Reliance Industries, Infosys and HDFC Bank. Market sentiment was also cautious after the RBI Bulletin flagged downside risks to demand due to persisting uncertainties over US trade policies. Investors further stayed on the sidelines ahead of India’s GDP data release, while continuous outflows from Foreign Institutional Investors (FIIs) dented sentiment. FIIs offloaded equities worth RS. 3,856.51 crore in Thursday’s trade.

On the global front, Asian equity markets traded mixed ahead of a key US inflation report, while European markets were trading lower on Friday.

At present, the BSE Sensex is trading at 79,960.01, down by 120.56 points or 0.15%, moving between 79,944.67 and 80,310.74. The index saw 17 stocks advancing against 13 declining. The broader markets also slipped, with the BSE Midcap index down 0.17% and the Smallcap index down 0.04%.

Sector-wise, FMCG (up 1.02%), Capital Goods (up 0.52%), Industrials (up 0.45%), Consumer Durables (up 0.38%) and Telecom (up 0.25%) were the top gainers, while Realty (down 1.18%), IT (down 0.87%), Energy (down 0.79%), Oil & Gas (down 0.66%) and Auto (down 0.65%) led losses.

Top Sensex gainers included ITC (up 2.17%), Trent (up 1.70%), Bharat Electronics (up 1.57%), Larsen & Toubro (up 1.26%) and Ultratech Cement (up 1.00%). Major laggards were Mahindra & Mahindra (down 2.56%), Infosys (down 1.98%), Reliance Industries (down 1.46%), Tech Mahindra (down 0.93%) and NTPC (down 0.83%).

Meanwhile, CareEdge Ratings highlighted that the recent hike in US tariffs on Indian goods—from 25% to 50%—poses a major challenge for Indian textile exporters, giving cost advantages to competitors. The report projected Indian textile exports to fall by 9–10% to around $30 billion in CY26, with PBILDT margins likely to contract by 300–500 bps due to pricing pressures. However, it added that losses in ready-made garments (RMG) and home textiles may be partially offset by rising exports of cotton yarn and fabric.

The CNX Nifty is trading at 24,475.60, down by 25.30 points or 0.10%, within a range of 24,464.15 and 24,572.45. It recorded 26 advancing stocks against 24 declining.

On Nifty, ITC (up 2.17%), Shriram Finance (up 1.81%), Bharat Electronics (up 1.77%), Trent (up 1.72%) and Ultratech Cement (up 1.19%) were top gainers, while Mahindra & Mahindra (down 2.47%), Infosys (down 1.99%), Apollo Hospitals (down 1.46%), Reliance Industries (down 1.38%) and Adani Enterprises (down 1.06%) led the decline.

In Asia, Hang Seng gained 129.18 points or 0.51% to 25,128.00, Shanghai Composite rose 14.33 points or 0.37% to 3,857.93, and Straits Times advanced 19.43 points or 0.46% to 4,273.21. However, Nikkei 225 slipped 85.79 points or 0.20% to 42,743.00, Taiwan Weighted eased 3.35 points or 0.01% to 24,233.10, Jakarta Composite dropped 104.12 points or 1.33% to 7,847.97, and KOSPI fell 10.31 points or 0.32% to 3,186.01.

In Europe, UK’s FTSE 100 fell 37.42 points or 0.41% to 9,179.40, France’s CAC dropped 50.80 points or 0.65% to 7,711.80, and Germany’s DAX declined 137.22 points or 0.57% to 23,902.70.

Indian equity markets are expected to start on a negative note on Thursday, weighed down by monthly F&O expiry and cautious investor sentiment after U.S. President Donald Trump’s 50 percent tariffs on Indian goods came into effect on August 27, 2025. Continuous selling by foreign portfolio investors (FPIs) may further dampen market mood.

Key Factors to Watch:

• India-Africa trade crosses USD 100 billion: Union Minister Kirti Vardhan Singh announced that India-Africa trade surpassed USD 100 billion in 2024-25, making India one of the top five investors in the continent.

• Commercial vehicle growth outlook: Rating agency ICRA projected commercial vehicle dispatches to dealers to rise by 3-5% year-on-year in FY26.

• Export diversification push: In response to steep US tariffs, the Commerce Ministry will hold meetings this week with exporters from chemicals, gems, jewellery and other sectors to explore new markets.

• EU trade talks: European Trade Commissioner Maros Sefcovic is expected to visit India next month to review progress in free trade agreement negotiations with Commerce Minister Piyush Goyal.

• Employment growth in industries: Annual Survey of Industries (ASI) data showed industrial employment rose 5.92% to 1.95 crore in FY24, compared to 1.84 crore in FY23.

Global Market Cues:
US markets closed higher on Wednesday, despite President Trump’s removal of Fed Governor Lisa Cook, as investors awaited Nvidia results. Asian markets traded mostly in green on Thursday, mirroring positive Wall Street cues.

Domestic Market Performance:
On Tuesday, Indian benchmarks ended sharply lower due to selling pressure after the US proposed an additional 25% tariff on Indian goods. The BSE Sensex fell 849.37 points or 1.04% to close at RS. 80,786.54, while the CNX Nifty dropped 255.70 points or 1.02% to settle at RS. 24,712.05.

Other Developments in Trade:

• India-Fiji strengthen defence ties: India and Fiji signed seven pacts and finalized an action plan to deepen defence cooperation, with both countries pledging to work for a peaceful Indo-Pacific.

• Corporate performance: RBI data showed listed private non-financial companies (NFCs) reported a modest sales growth of 5.5% in Q1FY26, compared to 6.9% in the same quarter last year.

• Auto dealers urge GST reform: Industry body FADA called for the early implementation of the revised GST regime to prevent festive season losses, as buyers are postponing purchases in anticipation of lower prices.

Indian equity markets are expected to open on a flat to positive note on Friday, supported by strong global cues. However, traders are likely to maintain a cautious, wait-and-watch stance ahead of the release of India’s GDP data for the April–June quarter. Persistent selling by foreign portfolio investors (FPIs) could weigh on overall sentiment.

Key factors to watch:

• Industrial output rises to 4-month high: India’s industrial production grew 3.5% in July 2025, marking a 4-month high, driven by a strong performance in the manufacturing sector.

• FM assures exporters of support: Finance Minister Nirmala Sitharaman assured exporters that the government will extend full support to safeguard their interests against high US tariffs, while exploring avenues to address their concerns.

• India hopeful of resuming US trade talks: Reports indicate India is optimistic about restarting negotiations on the proposed bilateral trade agreement (BTA), with resolving the steep 50% tariff on Indian goods a key priority.

• US tariff impact on growth: Former Commerce and Home Secretary G. K. Pillai said that a 50% US tariff on Indian shipments could moderate India’s growth by around 0.5% if alternative markets are not tapped.

• Duty-free cotton imports extended: The Centre’s move to extend duty-free cotton imports until December 31, 2025, is expected to strengthen India’s export competitiveness, reviving orders for SMEs and export-oriented units.

Global cues:
US markets ended in green on Thursday as revised data showed stronger-than-expected Q2 2025 growth. Asian markets also traded mostly higher on Friday, tracking the positive US trend.

Domestic markets recap:
Indian benchmarks ended lower for a second straight day on Thursday as an additional 25% tariff by the US on India’s Russian oil imports came into effect. Persistent foreign fund outflows also hurt investor confidence. The BSE Sensex fell 705.97 points or 0.87% to close at RS. 80,080.57, while the CNX Nifty declined 211.15 points or 0.85% to RS. 24,500.90.

Other developments:

• Crisil cautioned that uncertainties around US tariffs could hinder capital expenditure decisions in FY26.

• Former NITI Aayog CEO Amitabh Kant said India should treat US tariffs as an opportunity to undertake bold reforms and diversify export markets.

• Employment in industries rose 5.92% to 1.95 crore in FY24, up from 1.84 crore in FY23, according to ASI data.

Belrise Industries is trading at RS. 141.20, up by 1.05 points or 0.75% from its previous close of RS. 140.15 on the BSE.

The stock opened at RS. 140.40 and touched a high of RS. 142.80 and a low of RS. 139.30. A total of 3,31,681 shares have been traded so far.

A BSE group 'B' stock with a face value of RS. 5, Belrise hit a 52-week high of RS. 157.20 on August 19, 2025, and a 52-week low of RS. 89.20 on June 2, 2025. Over the past week, the stock recorded a high of RS. 151.50 and a low of RS. 138.65. The company’s current market capitalization stands at RS. 12,493.90 crore.

Promoter holding in the company stands at 73.01%, while institutions hold 13.90% and non-institutions 13.09%.

In a key development, Belrise Industries has incorporated a wholly owned subsidiary (WOS) named Belrise Defence & Aerospace on August 28, 2025. The Registrar of Companies, Ministry of Corporate Affairs, Central Registration Centre, has issued the Certificate of Incorporation.

The new subsidiary will focus on businesses related to engineering and advanced technologies in mechanical, optical, electrical, electronic, software, and other areas catering to defence, space, aerospace, and allied industries. Its operations are aligned with Belrise’s core business.

Belrise Industries is a leading automotive component manufacturer in India, providing safety-critical systems and engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles.

Shukra Pharmaceuticals is currently trading at its upper limit of RS. 26.22, up by 0.51 points or 1.98% from its previous closing of RS. 25.71 on the BSE.

The stock opened at RS. 26.22 and recorded both its high and low at RS. 26.22. So far, 2,62,560 shares have been traded on the counter.

The BSE group 'XT' stock with a face value of RS. 1 touched a 52-week high of RS. 27.15 on March 5, 2025, and a 52-week low of RS. 5.75 on November 21, 2024. In the past week, the scrip’s high and low stood at RS. 26.22 and RS. 23.33, respectively. The company’s current market capitalization is RS. 1148.12 crore.

The promoter shareholding in the company stands at 50.96%, with institutions holding 0.11% and non-institutions 48.93%.

In a significant development, Shukra Pharmaceuticals has secured a prestigious Letter of Award (LoA) from HSCC (India), a Government of India enterprise under the Ministry of Housing & Urban Affairs, acting on behalf of the Ministry of External Affairs. The award, dated August 28, 2025, is for the supply of Medicines and Diagnostic Kits to Afghanistan (Technical Mission of India, Kabul).

The total contract value stands at RS. 24.06 crore, covering supply, packing, forwarding, insurance, and delivery at the consignee site in Afghanistan. This order further enhances the company’s international presence and underscores its ability to execute large-scale healthcare projects under Government of India-backed initiatives.

Shukra Pharmaceuticals continues to position itself as an ambitious, sustainability-driven organization with a strong portfolio of healthcare solutions.

Shiv Texchem is currently trading at RS 269.00, up by 7.70 points or 2.95% from its previous closing of RS 261.30 on the BSE.

The stock opened at RS 261.50 and recorded a high of RS 270.00 and a low of RS 257.00. A total of 20,800 shares have been traded so far.

The BSE group 'M' stock, with a face value of RS 10, touched a 52-week high of RS 417.00 on December 12, 2024, and a 52-week low of RS 202.10 on February 18, 2025. Over the past week, the stock’s high and low were RS 285.50 and RS 257.00 respectively. The company’s current market capitalization stands at RS 623.33 crore.

The promoters hold 73.65% stake in the company, while institutions and non-institutions hold 8.69% and 17.65% respectively.

In a key development, Shiv Texchem has received a Letter of Acceptance (LoA) from Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) for the supply of toluene. The order, valued at RS 10.72 crore, is scheduled to be executed by August 2025.

Shiv Texchem is engaged in the business of importing and distributing hydrocarbon-based chemicals, which serve as essential raw materials for industries such as paints, coatings, printing inks, agro-chemicals, polymers, pharmaceuticals, and industrial chemicals.

Authum Investment & Infrastructure is currently trading at RS. 3234.10, up by 40.60 points or 1.27% from its previous closing of RS. 3193.50 on the BSE.

The stock opened at RS. 3219.95 and recorded a high of RS. 3250.00 and a low of RS. 3184.40. A total of 3523 shares have been traded so far.

The BSE group 'A' stock, with a face value of RS. 1, touched a 52-week high of RS. 3250.00 on August 29, 2025, and a 52-week low of RS. 1333.00 on February 28, 2025. Over the past week, the stock traded between RS. 3250.00 and RS. 2913.60. The company’s current market capitalization stands at RS. 55063.78 crore.

The shareholding pattern shows promoters holding 74.95%, institutions holding 8.09%, and non-institutions holding 16.96%.

The company has received board approval to sell up to 20% of its stake in Billion Dream Sports (BDSPL) to HRX Group, out of its total 99.99% shareholding in the subsidiary incorporated on July 31, 2025. Following the transaction, Authum will continue to hold 80% in BDSPL, retaining its subsidiary status. The approval was granted at the board meeting held on August 29, 2025.

Authum Investment & Infrastructure is a registered NBFC engaged in investment in shares, securities, and financing activities, with a focus on enhancing value for its stakeholders.

HCL Technologies is currently trading at RS. 1460.70, up by 10.95 points or 0.76% from its previous closing of RS. 1449.75 on the BSE.

The stock opened at RS. 1448.95 and has touched a high of RS. 1462.70 and a low of RS. 1438.85. So far, 132607 shares have been traded on the counter.

The BSE group 'A' stock with a face value of RS. 2 recorded a 52-week high of RS. 2011.00 on January 13, 2025, and a 52-week low of RS. 1304.00 on April 7, 2025. Over the past week, the scrip registered a high of RS. 1509.40 and a low of RS. 1438.85. The company’s current market capitalization stands at RS. 396167.97 crore.

The promoters hold 60.81% of the company’s stake, while institutions and non-institutions account for 34.76% and 4.42% respectively.

On the business front, HCL Technologies, in collaboration with Pearson India and under the strategic advisory of MeitY Startup Hub, has launched ARISE FOR YOU—a nationwide initiative designed to ignite entrepreneurial spirit among India’s youth. The program, which stands for Aspire. Rise. Inspire. Skill. Excel., is a pan-India innovation and entrepreneurship challenge aimed at identifying, nurturing, and elevating student entrepreneurs.

MeitY Startup Hub, with its network of over 62 hubs, will provide mentorship and guidance to participants. Pearson India will offer Entrepreneurship and Small Business (ESB) certification and learning content, while Thought Pencil will lead marketing and outreach efforts.

This initiative is in line with India’s vision for inclusive innovation and sustainable growth. By promoting entrepreneurship from Tier 2 and Tier 3 cities, it supports the Viksit Bharat Mission and contributes to strengthening the nation’s innovation pipeline.

HCL Technologies continues to be a global leader in IT and business services, engineering and R&D, along with IP-led software products and solutions.