Market Commentary - Mid-Session
Domestic equity benchmarks opened with modest losses on Friday, weighed down by global trade concerns after the United States imposed steep tariffs on several key trade partners and reaffirmed a 25% import duty on Indian goods.
The Nifty traded below the 24,700 level. Pharma, metal and IT shares corrected, while FMCG and media shares advanced.
At 09:30 IST, the barometer index, the S&P BSE Sensex declined 263.46 points or 0.32% to 80,922.12. The Nifty 50 index lost 77.10 points or 0.28% to 24,691.25.
In the broader market, the S&P BSE Mid-Cap index slipped 0.34% and the S&P BSE Small-Cap index shed 0.02%.
The market breadth was positive. On the BSE 1,756 shares rose and 1,182 shares fell. A total of 134 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 5,588.91 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,372.71 crore in the Indian equity market on 31 July 2025, provisional data showed.
Stocks in Spotlight:
Swiggy slipped 3.23% after the company reported consolidated net loss of Rs 1,197 crore in Q1 FY26 compared with net loss of Rs 606 crore in Q1 FY25. Revenue from operations jumped 53.97% YoY to Rs 4,961 crore in Q1 June 2025.
Restaurant Brands Asia advanced 2.97% after the company's consolidated net loss narrowed to Rs 419.38 crore in Q1 FY26 compared with net loss of Rs 493.60 crore in Q1 FY25. Revenue from operations increased 7.89% YoY to Rs 697.72 crore during the quarter ended 30th June 2025.
Coal India rose 0.54%. The company's consolidated net profit declined 20.19% to Rs 8,734.17 crore in Q1 FY26 compared with Rs 10,943.55 crore in Q1 FY25. Revenue from operations fell 5.39% YoY to Rs 35,482.19 crore in Q1 FY26.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.03% to 6.378 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 87.4950 compared with its close of 87.6550 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement shed 0.19% to Rs 97,900.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 99.83.
The United States 10-year bond yield gained 0.41% to 4.378.
In the commodities market, Brent crude for August 2025 settlement added 13 cents or 0.18% to $71.83 a barrel.
Global Markets:
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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