The headline equity benchmarks traded with substantial losses in mid-afternoon trade as investors turned cautious following the U.S. imposition of steep tariffs on multiple trade partners and the reaffirmation of a 25% import duty on Indian goods. Investors were also monitoring the ongoing earnings season. The Nifty traded below the 24,650 mark.
Oil & gas shares extended losses for the third consecutive trading sessions.
At 14:30 IST, the barometer index, the S&P BSE Sensex declined 363.18 points or 0.45% to 80,822.40. The Nifty 50 index lost 130.45 points or 0.52% to 24,636.25.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 1.30% and the S&P BSE Small-Cap index fell 1.10%.
The market breadth was negative. On the BSE, 1,414 shares rose and 2,526 shares fell. A total of 172 shares were unchanged.
Buzzing Index:
The Nifty Oil & Gas index dropped 0.95% to 11,155.25. The index fell 2.53% in three consecutive trading sessions.
Bharat Petroleum Corporation (down 2.79%), Hindustan Petroleum Corporation (down 2.58%), Gujarat Gas (down 2.45%), Indian Oil Corporation (down 2.44%), Petronet LNG (down 2.01%), Gujarat State Petronet (down 1.76%), Indraprastha Gas (down 1.51%), GAIL (India) (down 1.5%), Oil & Natural Gas Corpn (down 1.31%) and Oil India (down 0.80%) declined.
On the other hand, Castrol India (up 0.77%) and Reliance Industries (up 0.71%) edged higher.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.06% to 6.372 from the previous close of 6.376.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.4675 compared with its close of 87.6550 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement fell 0.38% to Rs 97,713.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.22% to 99.96.
The United States 10-year bond yield gained 0.55% to 4.384.
In the commodities market, Brent crude for October 2025 settlement lost 29 cents or 0.40% to $71.41 a barrel.
Stocks in Spotlight:
TVS Motor Company advanced 2.45% after the company has registered sales of 456,350 units in July 2025, which is higher by 29% as comparesd with the 354,140 units sold in July 2024.
Eicher Motors added 1.53% after the company’s unlisted subsidiary, VE Commercial Vehicles (VECV), reported a 7.4% year-on-year jumped in commercial vehicle (CV) sales to 7,115 units in July 2025.