Barring the Nifty Consumer Durables index, all the other sectoral indices on the NSE ended in the red.

As per provisional closing data, the barometer index, the S&P BSE Sensex slumped 705.97 points or 0.87% to 80,080.57. The Nifty 50 index tumbled 211.15 points or 0.85% to 24,500.90. In two consecutive trading sessions, the Sensex fell 1.90% and the Nifty dropped 1.86%.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.09% and the S&P BSE Small-Cap index dropped 0.96%.

The market breadth was weak. On the BSE, 1,465 shares rose and 2,638 shares fell. A total of 165 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.

New Listings:

Shares of Mangal Electrical Industries were at Rs 530 on the BSE, representing a discount of 5.53% compared with the issue price of Rs 561.

The scrip was listed at Rs 558, a discount of 0.53% to the issue price.

The stock has hit a high of Rs 565 and a low of Rs 527.30. On the BSE, over 5.05 lakh shares of the company were traded in the counter.

IPO Updates:

The initial public offer (IPO) of Vikran Engineering received bids for 27,05,72,416 shares as against 5,87,39,128 shares on offer, according to stock exchange data at 15:25 IST on Thursday (28 August 2025). The issue was subscribed 4.61 times.

The initial public offer (IPO) of Anlon Healthcare received bids for 3,91,02,356 shares as against 1,33,00,000 shares on offer, according to stock exchange data at 15:25 IST on Thursday (28 August 2025). The issue was subscribed 2.94 times.

Buzzing Index:

The Nifty IT index dropped 1.59% to 35,488.75. The index fell 2.18% in two consecutive trading sessions.

HCL Technologies (down 2.88%), Tata Consultancy Services (down 2.01%), Infosys (down 1.93%), Oracle Financial Services Software (down 1.88%), Mphasis (down 1.44%), Persistent Systems (down 1.17%), LTIMindtree (down 0.82%), Wipro (down 0.55%), Tech Mahindra (down 0.44%) and Coforge (down 0.12%) declined.

Stocks in Spotlight:

Power Grid Corporation of India fell 2%. The company said that it has won the tariff based competitive bidding (TBCB) bid to set up an inter-state transmission system for the Davanagere renewable energy integration project.

Power Mech Projects dropped 3.85%. The company has secured a significant order worth Rs 370.84 crore from Mahan Energen (MEL), a subsidiary of Adani Power, for civil and structural works at its upcoming thermal power project in Madhya Pradesh.

Rail Vikas Nigam declined 1.26%. The company has signed a joint venture agreement with Texmaco Rail & Engineering for undertaking projects in the railway and allied infrastructure sectors.

Mahindra Logistics slipped 2.31% after the company announced the resignation of chief financial officer (CFO) Saurabh Taneja, effective 19 September 2025.

Affordable Robotic & Automation added 1.94% after the company announced that its subsidiary Humro announced its comprehensive strategy to address recent tariff changes impacting imports into the United States.

Vishnusurya Projects and Infra surged 5.28% after the company, along with its consortium partners JWIL Infra and IDE Technologies India, bagged a contract worth Rs 2,217 crore from the State Industries Promotion Corporation of Tamil Nadu.

HFCL fell 3.19%. The company said that its material subsidiary, HTL, has bagged a contract worth Rs 101.82 crore from the Indian Army for the supply of tactical optical fiber cables and related accessories.

Edelweiss Financial Services rallied 3.38% after Sunil Singhania-led Abakkus Asset Manager acquired a stake in the company through a block deal on Tuesday, 26 August 2025. Abakkus Asset Manager purchased 64,30,780 shares, representing 0.68% equity in Edelweiss Financial Services, for a total consideration of Rs 64.3 crore. The shares were acquired at Rs 100 apiece in the transaction executed on the NSE.

On the sell side, Edelweiss Employees Welfare Trust divested 11,29,270 shares (0.12% equity), while Edelweiss Employees Incentives and Welfare Trust sold 53,01,510 shares (0.56% equity). Together, the two trusts offloaded 0.68% stake in the company.

Global Markets:

Most European markets advanced on Thursday, as investors assess an above-consensus quarterly earnings report from tech giant Nvidia

Asian markets ended higher 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.