PSU Banks Slide, Waaree Energies Gains, Ola Electric Jumps 15%
Written by - Fisdom Research
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August 28, 2025
2 minutes
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Market Snapshot
Profit booking extended into a second straight session on August 28, with benchmark indices slipping nearly 1% after the 50% US tariffs on India came into force.
The market opened weak, continuing Tuesday’s decline, and Nifty dipped below 24,500 intraday amid broad-based selling. However, buying at lower levels in consumer durables helped limit losses.
Sector-wise, all indices closed in the red except Consumer Durables, while banks, IT, realty, FMCG, and telecom each fell around 1%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY CONSUMER DURABLES
0.6
NIFTY METAL
-0.8
NIFTY OIL & GAS
-0.5
NIFTY PHARMA
-0.8
NIFTY MEDIA
-0.5
NIFTY HEALTHCARE INDEX
-0.9
NIFTY AUTO
-0.5
NIFTY PRIVATE BANK
-1.0
Top News
PSU Banks: Nifty PSU Bank index fell 0.7% on August 28, marking a sixth straight day of losses, down nearly 5% in this period. Punjab & Sind Bank dropped 2%, while Union Bank, Bank of Maharashtra, UCO Bank, and Bank of India slipped over 1% each.
Waaree Energies: Stock hit an 8-month high at ₹3,366.50, up 3%, after securing a 452 MW solar module export order via its US subsidiary.
Ola Electric: Shares surged 15% as all Gen 3 scooters received PLI certification, making both Gen 2 and Gen 3 eligible for 13–18% incentives till 2028. The company expects EBITDA positivity from this quarter.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
TITAN
1.1
SHRIRAMFIN
-3.9
COALINDIA
0.7
HCLTECH
-2.9
HEROMOTOCO
0.7
POWERGRID
-2.0
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,250
24,855
Bank Nifty
53,280
54,400
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