The headline equity indices trimmed some losses and traded with modest losses in mid-morning trade after the United States imposed an additional 25% tariff on Indian imports, which came into effect a day earlier. The Nifty hovered near the 24,650 mark. Meanwhile, the expiry of Nifty futures monthly contracts contributed to increased market volatility.
Realty shares extended losses for the second consecutive trading session.
At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 257.95 points or 0.31% to 80,536.50. The Nifty 50 index slipped 62.20 points or 0.25% to 24,649.85.
In the broader market, the S&P BSE Mid-Cap index slipped 0.31% and the S&P BSE Small-Cap index fell 0.23%.
The market breadth was weak. On the BSE, 1686 shares rose and 2,120 shares fell. A total of 216 shares were unchanged.
Trump Tariffs:
President Trump’s secondary U.S. tariffs of 25% on Indian shipments kicked in Wednesday, pushing overall duties on the country’s exports to 50%.
A global research house has reportedly stated that the risks to growth for the Indian economy have naturally become more real.
India’s top exports to the U.S., which are electrical machinery as well as gems and jewelry, face the largest tariff increases, the report stated. Trade talks between the Indian and U.S. delegations, however, are expected to continue.
IPO Updates:
The initial public offer (IPO) of Vikran Engineering received bids for 21,11,76,316 shares as against 5,87,39,128 shares on offer, according to stock exchange data at 11:25 IST on Thursday (28 August 2025). The issue was subscribed 3.60 times.
The initial public offer (IPO) of Anlon Healthcare received bids for 3,06,97,192 shares as against 1,33,00,000 shares on offer, according to stock exchange data at 11:25 IST on Thursday (28 August 2025). The issue was subscribed 2.31 times.
Buzzing Index:
The Nifty Realty index dropped 0.90% to 887.90. The index tumbled 3.11% in two consecutive trading sessions.
Phoenix Mills (down 1.75%), Raymond (down 1.58%), Prestige Estates Projects (down 1.55%), Godrej Properties (down 1.1%), Oberoi Realty (down 0.98%), Lodha Developers (down 0.73%), DLF (down 0.58%), Brigade Enterprises (down 0.54%), Anant Raj (down 0.14%) and Sobha (down 0.06%) declined.
Stocks in Spotlight:
Rail Vikas Nigam rose 0.48%. The company has signed a joint venture agreement with Texmaco Rail & Engineering for undertaking projects in the railway and allied infrastructure sectors.
Shilpa Medicare advanced 2.49% after the company said that its wholly owned subsidiary Koanna International FZ LLC, UAE, has inked definitive agreement with Saudi-based Pharma Pharmaceutical Industries & Biological Products (PPI) to form a new joint venture company (JVC).
Global Markets:
Asia-Pacific markets traded mix Thursday as investors digested the Bank of Korea policy decision.
South Korea’s central bank kept its policy rate unchanged at 2.5% for its second straight meeting despite an uncertain trade environment for the country.
Overnight on Wall Street, the three major benchmarks closed higher stateside.
The S&P 500 ticked higher and ended the day up 0.24% at 6,481.40, setting a fresh all-time closing high. The Nasdaq Composite closed up 0.21% at 21,590.14, and the Dow Jones Industrial Average gained 147.16 points, or 0.32%, to finish at 45,565.23.
Shares of Nvidia, the world's most valuable company and the leading supplier of cutting-edge AI processors, fell in extended trading, even after its second-quarter results beat widely reported market estimates. This was primarily due to the fate of the company’s China business hung in the balance, caught up in the trade war between Washington and Beijing.
Investors kept an eye for developments related to U.S. President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, a move likely to face legal challenges.