The domestic equity benchmarks traded with modest cuts in 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 will monitor on going earnings season. The Nifty traded below the 24,700 level. Pharma, IT and metal shares led the decline while FMCG and media shares advanced.
At 13:25 IST, the barometer index, the S&P BSE Sensex declined 222.75 points or 0.27% to 80,963.77. The Nifty 50 index lost 88.15 points or 0.36% to 24,683.20.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 0.58% and the S&P BSE Small-Cap index fell 0.56%.
The market breadth was negative. On the BSE, 1,579 shares rose and 2,291 shares fell. A total of 181 shares were unchanged.
Gainers & Losers:
Trent (up 4.01%), Eicher Motors (up 3.62%), Asian Paints (up 2.02%), ITC (up 1.32%) and Nestle India (up 1.29%) were the major Nifty50 gainers.
Sun Pharmaceutical Industries (down 4.85%), Dr Reddy's Laboratories (down 3.96%), Cipla (down 3.32%), Tata Steel (down 2.94%) and ONGC (down 2.61%) were the major Nifty50 losers.
Eicher Motors added 3.62% after the company's consolidated net profit jumped 9.42% to Rs 1,205.22 crore in Q1 FY26 as against Rs 1,101.4 crore posted in Q1 FY25. Total revenue from operations rose 14.76% year on year to Rs 5,041.84 crore in the quarter ended 30 June 2025.
Economy
India's manufacturing sector saw its strongest performance in four months in July, according to the HSBC India Manufacturing Purchasing Managers' Index (PMI). The index rose from 58.4 in June to 59.1 in July, indicating a solid improvement in business conditions. A score above 50 signals growth, while below 50 indicates contraction.
The rise was mainly driven by a sharp increase in new orders, as companies benefited from strong demand and effective marketing efforts. In fact, sales grew at their fastest pace in nearly five years, highlighting growing confidence in the manufacturing sector.
Stocks in Spotlight:
PNB Housing Finance slumped 17.60% after the bank announced that MD & CEO Girish Kousgi resigned to pursue external career opportunities.
Chalet Hotels soared 3.55% after the company's consolidated net profit zoomed 234.89% to Rs 203.15 crore on 147.79% increase in revenue from operations to Rs 894.55 crore in Q1 FY26 over Q1 FY25.
Credo Brands Marketing (Mufti) dropped 19.98% after the company's consolidated net profit tumbled 35.52% to Rs 6.30 crore on 3.19% decline in revenue from operations to Rs 119.93 crore in Q1 FY26 over Q1 FY25.
Coal India (CIL) shed 0.73%. The company has posted 20% fall in consolidated net profit to Rs 8,734 crore on a 4% fall in net sales to Rs 31,880 crore in Q1 FY26 as compared with Q1 FY25.
Barbeque-Nation Hospitality declined 3.44% after the company's consolidated net loss widened to Rs 16.40 crore in Q1 FY26 compared with net loss of Rs 4.86 crore in Q1 FY25. Revenue from operations fell 2.85% YoY to Rs 296.98 crore in Q1 FY26, primarily due to softer sales in the India business.
Netweb Technogies India rallied 8.57% after the company's standalone net profit surged 100.03% to Rs 30.47 crore on 101.73% jump in revenue from operations to Rs 301.21 crore in Q1 FY26 over Q1 FY25.
Mahindra & Mahindra (M&M) fell 1.29%. The company's overall auto sales grew by 25.95% to 83,691 vehicles sold in July 2025 as against 66,444 vehicles sold in July 2024.
Bajaj Auto rose 0.27%. The company has reported 3% rise in total auto sales for July 2025, selling 3.66 lakh units as against 3.54 lakh units sold in July 2024.
Global Markets:
European market declined investors awaited key regional inflation data and the closely watched monthly U.S. jobs report.
While Most Asian markets traded lower on Friday after U.S. President Donald Trump announced sweeping new tariffs on American trading partners, citing trade imbalances and national security concerns.
The decision, signed late Thursday, is set to go into effect on 7 August and covers a wide range of goods from 69 countries and the 27-member European Union.
Countries facing the highest rates include Syria at 41 percent, Switzerland at 39 percent, Laos and Myanmar at 40 percent, Iraq and Serbia at 35 percent, and Libya and Algeria at 30 percent. Others like Taiwan, India, and Vietnam fall in the 20 to 25 percent range.
The European Union reached a deal under which goods with existing duty rates above 15 percent are exempt, while others will see adjusted levies. For countries not listed, a default rate of 10 percent will apply.
Meanwhile, Japan's unemployment rate was unchanged at 2.5% in June, from the previous month, government data released Friday showed. There were 122 job openings for every 100 job seekers in June, lower than the 124 openings for every 100 job seekers in the previous month.
Stocks on Wall Street closed lower on Thursday, with the S&P 500 posting its third consecutive losing session.
The broad market index fell 0.37% to settle at 6,339.39, while the Nasdaq Composite edged down 0.03% to 21,122.45. The Dow Jones Industrial Average declined 330.30 points, or 0.74%, closing at 44,130.98.
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