Jio Financial Gains on Fundraising Plan; Markets Fall on US Tariff Woes; Ambuja Delivers Strong Q1

Market Snapshot

• Benchmark indices ended in the red on July 31, failing to hold on to mid-day gains, with the Nifty 50 closing below the 24,800 mark.
• Sentiment weakened as markets digested the broader implications of U.S. President Donald Trump’s announcement of 25% tariffs on India, along with additional penalties for India’s purchases of Russian military equipment and oil, ahead of the August 1 deadline.
• Meanwhile, the U.S. Federal Reserve’s FOMC held interest rates steady in the range of 4.25%–4.50%, although two members favored a 25 basis point rate cut, adding to global market caution.

Sectoral Trends

Top News

• Jio Financial Services surged over 3% in a weak market after its board approved a ₹15,825 crore preferential issue of warrants to promoter-group entities Sikka Ports and Jamnagar Utilities, reinforcing investor confidence.
• Indian equities declined on July 31 as Trump’s 25% tariffs and penalties on India, coupled with the US Fed’s decision to hold rates steady, weighed on sectors like IT, metal, and realty, dragging benchmark indices down by around 0.6%.
• Ambuja Cements reported a strong Q1 FY26 performance with net profit up 23% YoY to ₹788 crore, revenue rising to ₹10,244 crore, and achieving its highest-ever quarterly sales volume of 18.4 million tonnes, boosting market share to 15.5%.

Top Gainers and Losers

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