The headline equity benchmarks traded sideways in the mid-afternoon trade, with volatility triggered after U.S. President Donald Trump announced a 25% tariff on Indian goods, effective August 1, along with an additional, unspecified penalty for India’s purchase of items from Russia. Trading remains volatile due to the monthly Nifty50 F&O expiry.
FMCG shares extended gains for the fourth consecutive trading session.
At 14:30 IST, the barometer index, the S&P BSE Sensex shed 16.76 points or 0.02% to 81,484.70. The Nifty 50 index added 10.90 points or 0.04% to 24,865.95.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 0.50% and the S&P BSE Small-Cap index fell 0.51%.
The market breadth was negative. On the BSE, 1,636 shares rose and 2,286 shares fell. A total of 165 shares were unchanged.
Buzzing Index:
The Nifty FMCG index jumped 1.85% to 56,040.45. The index rallied 2.67% in four consecutive trading sessions.
Emami (up 7.73%), Hindustan Unilever (up 4.13%), Godrej Consumer Products (up 3.65%), United Spirits (up 2.07%), Dabur India (up 1.66%), Marico (up 1.49%), ITC (up 1.46%), Nestle India (up 1.44%), Britannia Industries (up 1.17%) and Radico Khaitan (up 0.67%) advanced.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.03% to 6.367 from the previous close of 6.365.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.5950 compared with its close of 87.8000 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement rose 0.35% to Rs 98,414.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 99.54.
The United States 10-year bond yield declined 0.50% to 4.335.
In the commodities market, Brent crude for September 2025 settlement lost 18 cents or 0.25% to $72.29 a barrel.
Stocks in Spotlight:
Indraprastha Gas added 1.57%. The company reported consolidated net profit of Rs 429.05 crore in Q1 FY26, down 10.84% from Rs 481.20 crore in Q1 FY25. However, revenue from operations (excluding excise duty) rose 11.29% to Rs 3,913.99 crore in Q1 FY26 from Rs 3,516.65 crore posted in Q1 FY25.
Tata Steel (TSL) shed 0.93%. The company has reported 97.1% increase in consolidated net profit to Rs 2.164.15 crore in Q1 FY26 from Rs 1,097.94 crore recorded in Q1 FY25. Consolidated revenues for the April – June 2025 quarter were Rs 53,178 crore, down 2.9% YoY. For the period under review, India revenues aggregated to Rs 31,137 crore, Netherlands revenue added up to Rs 14,619 crore and UK revenue amounted to Rs 6,096 crore.