BIZ DESK
Domestic equity benchmarks finished a choppy session virtually unchanged on Friday, weighed down by persistent geopolitical tensions surrounding Iran, elevated Brent crude oil prices hovering near $94 a barrel, and rising bond yields in developed markets. Despite these headwinds, selective buying in heavyweights helped cushion the downside, keeping indices afloat as investors maintained a cautious posture.
Index Performance and Market Breadth
The S&P BSE Sensex ended flat at 77,540.83, up a negligible 3.11 points, while the Nifty 50 inched up by 20.15 points (0.08%) to settle at 24,252.
Broader markets fared better than frontline indices. The BSE 150 MidCap Index rose 0.12%, and the BSE 250 SmallCap Index gained 0.31%. Market breadth remained positive: out of total shares traded on the NSE, 1,884 advanced, 1,630 declined, and 130 remained unchanged. Meanwhile, the India VIX volatility gauge ticked up 4.25% to 11.21.
Top Gainers and Losers
Nifty 50 Movers
- Power Grid Corporation of India: Up 2.87%
- Kotak Mahindra Bank: Up 1.37%
- ICICI Bank: Up 0.57%
Notable Stock Highlights (Spotlight)
- Bajel Projects: Surged 6.32% after its joint venture emerged as the successful bidder for a major transmission project in Gujarat.
- Saatvik Green Energy: Jumped 3.98% on the back of a fresh solar PV module supply order secured by its subsidiary.
- Data Patterns (India): Advanced 2.17% following a Rs 585.76 crore radar electronics order from BEL.
- B.L. Kashyap & Sons: Declined 2.93% despite securing an Rs 183.18 crore order from Realkraft Ventures.
- Tata Motors Passenger Vehicles: Shed 0.73% ahead of its planned vehicle price hikes of up to Rs 25,000 starting September 1.
Economic Indicators: PMI Shows Modest Services Recovery
The HSBC Flash India Composite PMI Output Index rose to 54.6 in August from 54.3 in July, signaling a modest recovery after July’s multi-month low.
- Services Sector: The Services PMI Business Activity Index climbed to 54.5 from 53.3, driving the headline improvement.
- Manufacturing Sector: Momentum softened for the third straight month. The Manufacturing PMI dropped to 52.9—its lowest level since August 2021—as output growth continued to cool.
Key Numbers to Track
- Crude Oil: Brent crude for October 2026 settlement eased 0.41% to $93.40 a barrel amid ongoing US-Iran supply uncertainties.
- Currency: The Indian rupee edged up slightly to 95.7100 against the US dollar.
- Gold: MCX Gold futures rallied 1.28% to Rs 1,61,459.
- Bond Yields: India’s 10-year benchmark yield eased marginally to 6.870%, while the US 10-year yield ticked up to 4.699%.
Global Markets & IPO Updates
Global equities saw cautious trading as investors tracked rising US Treasury yields and awaited clarity from the upcoming Federal Reserve Jackson Hole symposium. In Japan, core consumer inflation accelerated to 1.8% year-on-year in July, fueling expectations of a potential Bank of Japan rate hike.
In the primary market, investor appetite remained robust:
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