Indian indices erased intraday losses in the final hour of trade, closing near the day’s high.
Markets remained under pressure for most of the session following US President Donald Trump’s announcement of a 25% tariff on India over Russian oil imports.
Trump also indicated a possible 100% tariff on imported semiconductors, adding to investor concerns.
Despite positive global cues, Indian markets opened lower and traded in the red through most of the day.
Nifty slipped below 24,350 intraday but staged a sharp recovery toward the close.
All sectoral indices recovered most of their losses, with IT, Media, and Pharma ending 0.5–1% higher
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY MEDIA
1.0
NIFTY CONSUMER DURABLES
0.4
NIFTY IT
0.9
NIFTY PSU BANK
0.3
NIFTY PHARMA
0.8
NIFTY AUTO
0.3
NIFTY HEALTHCARE INDEX
0.6
NIFTY PRIVATE BANK
0.2
Top News
NSDL shares surged nearly 20% on August 7, extending gains post-market debut and trading about 40% above the IPO price.
Hero MotoCorp acknowledged a global rare earth magnet shortage but assured that it has secured adequate supplies for both ICE and EV models through Q2 FY26.
LIC posted a 5% YoY rise in Q1 FY26 standalone net profit to ₹10,987 crore, with net premium income also growing 5% to ₹1.19 lakh crore.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
HEROMOTOCO
4.3
ADANIENT
-2.4
TECHM
2.0
ADANIPORTS
-1.4
JSWSTEEL
1.9
GRASIM
-0.9
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,400
24,850
Bank Nifty
55,000
57,000
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