As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 166.26 points or 0.21% to 80,543.99. The Nifty 50 index fell 75.35 points or 0.31% to 24,574.20. In two consecutive trading sessions, the Sensex declined 60%, while the Nifty shed 0.59%.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1% and the S&P BSE Small-Cap index fell 1.14%.
The market breadth was weak. On the BSE, 1,354 shares rose and 2,696 shares fell. A total of 154 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.11% to 11.96.
RBI Monetary Policy Meeting Outcome:
Banking stocks edged lower after the Reserve Bank of India's Monetary Policy Committee (MPC) unanimously decided to keep the policy repo rate unchanged at 5.5% in its latest review, concluding on 6 August 2025.
The committee maintained its stance amid global uncertainties and a resilient domestic economy, choosing to allow more time for the transmission of its earlier rate cuts.
Accordingly, the standing deposit facility (SDF) rate remains at 5.25%, while the marginal standing facility (MSF) rate and the bank rate are unchanged at 5.75%.
The RBI reiterated its commitment to achieving the medium-term inflation target of 4%, within a tolerance band of +/- 2%, while continuing to support growth. It noted that the global environment remains uncertain, with muted growth and uneven disinflation, although financial volatility has eased somewhat.
On the domestic front, growth remains stable. Rural consumption and robust government capital spending are supporting demand, while a normal monsoon is benefiting agriculture. Services and construction activity remain strong, although industrial performance is uneven, weighed down by electricity and mining.
The central bank retained its real GDP growth forecast for FY26 at 6.5%, with quarterly projections of 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. For Q1 FY27, growth is projected at 6.6%, with risks broadly balanced.
On inflation, the RBI lowered its CPI forecast for FY26 to 3.1%, down from the earlier 3.7%. Quarterly inflation is now seen at 2.1% in Q2, 3.1% in Q3, and 4.4% in Q4. CPI inflation for Q1 FY27 is projected at 4.9%. The central bank noted that average inflation this year is expected to remain well below the target, largely due to easing food prices, although inflation may edge above the 4% mark from Q4 onwards.
The RBI highlighted that the full impact of the 100 basis points of rate cuts since February 2025 is still unfolding. Given the current macroeconomic conditions and external risks, the MPC decided to maintain the existing rate and continue with a neutral stance. It also signaled continued data monitoring to guide future policy moves.
The minutes of the meeting will be released on August 20, while the next MPC meeting is scheduled from September 29 to October 1.
New Listing:
Shares of National Securities Depository were at Rs 932.80 on the BSE, representing a premium of 16.60% compared with the issue price of Rs 800.
The scrip was listed at Rs 880, exhibiting a premium of 10% to the issue price.
The stock has hit a high of Rs 943.85 and a low of Rs 880. On the BSE, over 369.91 lakh shares of the company were traded in the counter.
Shares of Sri Lotus Developers and Realty were at Rs 197 on the BSE, representing a premium of 31.33% compared with the issue price of Rs 150.
The scrip was listed at Rs 179.10, exhibiting a premium of 19.4% to the issue price.
The stock has hit a high of Rs 197 and a low of Rs 176.60. On the BSE, over 169.36 lakh shares of the company were traded in the counter.
Shares of M&B Engineering were at Rs 406.40 on the BSE, representing a premium of 5.56% compared with the issue price of Rs 385.
The scrip was listed at 386, at a small premium of 0.26% compared with the initial public offer (IPO) price.
The stock has hit a high of Rs 418.85 and a low of Rs 373.25. On the BSE, over 18.45 lakh shares of the company were traded in the counter.
IPO Update:
The initial public offer (IPO) of Highway Infrastructure received bids for 1,05,72,70,993 shares as against 1,60,43,046 shares on offer, according to stock exchange data at 15:37 IST on Wednesday (6 August 2025). The issue was subscribed 65.90 times.
Buzzing Index:
The Nifty Pharma index dropped 2.03% to 21,523.75. The index fell 2.31% in the past two trading sessions.
Divis Laboratories (down 4.32%), Ajanta Pharma (down 3.26%), Biocon (down 3.01%), Ipca Laboratories (down 2.85%), Zydus Lifesciences (down 2.69%), Mankind Pharma (down 2.63%), Laurus Labs (down 2.47%), Sun Pharmaceutical Industries (down 2.13%), Granules India (down 1.96%) and Abbott India (down 1.94%) fell.
Divis Laboratories slipped 4.10% after the pharma major's consolidated net profit declined 17.67% to Rs 545 crore in Q1 FY26 as against Rs 662 crore recorded in Q4 FY25. Revenue from operations also declined 6.79% quarter on quarter (QoQ) to Rs 2,410 crore for the quarter ended 30 June 2025.
Stocks in Spotlight:
Bharti Airtel rose 0.08%. The company has reported a 103.3% rise in consolidated net profit to Rs 5,948 crore in Q1 FY26 from Rs 2,925 crore in Q1 FY25. Total revenues increased by 28.5% YoY to Rs 49,463 crore in the April'June 2025 quarter. The growth was driven by strong momentum in both India and Africa.
Sandesh surged 19.02% after reporting a 14.95% year-on-year rise in consolidated net profit at Rs 58.04 crore for Q1 June 2025, compared to Rs 50.49 crore a year ago. Net sales rose 6.82% to Rs 73.33 crore from Rs 68.65 crore in the corresponding period of the previous year.
Bajaj Auto shed 0.60%. The company posted 5% increase in standalone net profit to Rs 2,096 crore in Q1 FY26 from Rs 1,988 crore in Q1 FY25. For the quarter, the company declared revenue of Rs 12,584 crore, a growth of 6% over the corresponding quarter of the previous year.
EPL surged 3.47% after the company's consolidated net profit jumped 55.76% to Rs 100 crore on 9.98% increase in revenue from operations to Rs 1,107.9 crore in Q1 FY26 over Q1 FY25.
CCL Products (India) tanked 5.46% after the company's consolidated net profit fell 28.88% to Rs 72.44 crore in Q1 FY26, compared with Rs 101.86 crore in Q4 FY25. However, revenue from operations jumped 26.29% Quarter on Quarter (QoQ) to Rs 1,055.63 crore in Q1 FY26.
TD Power Systems added 2.37% after the company reported a 41.65% surge in consolidated net profit to Rs 50.07 crore on 35.83% increase in revenue from operations to Rs 371.90 crore in Q1 FY26 over Q1 FY25.
Britannia Industries fell 4.53%. The company's consolidated net profit increased 2.98% to Rs 520.72 crore on 8.75% jump in revenue from operations to Rs 4,622.22 crore in Q1 FY26 over Q1 FY25.
Lupin shed 0.77%. The company's consolidated net profit jumped 52.13% to Rs 1,219.03 crore on an 11.78% increase in income from operations to Rs 6,163.75 crore in Q1 FY26 over Q1 FY25.
Container Corporation of India (CONCOR) fell 4.38%. The company reported a 3.24% rise in consolidated net profit to Rs 266.54 crore on a 2.40% rise in revenue from operations to Rs 2,153.63 crore in Q1 FY26 over Q1 FY25.
VRL Logistics tanked 5.88%. The company's standalone net profit surged 272.59% to Rs 50.04 crore in Q1 FY26, compared with Rs 13.43 crore posted in Q1 FY25. Revenue from operations rose 2.35% to Rs 744.33 crore in Q1 FY26, compared to Rs 727.20 crore in Q1 FY25.
Power Finance Corporation (PFC) rose 0.57%. The company's consolidated net profit rose 23.86% to Rs 6,866.26 crore on a 15.46% increase in total revenue from operations to Rs 28,539.04 crore in Q1 FY26 over Q1 FY25. Total income grew by 15.73% year on year (YoY) to Rs 28,628.92 crore in the quarter ended 30 June 2025.
NCC rose 1.56%. The company reported an 8.46% decline in consolidated net profit to Rs 192.14 crore in Q1 FY26, compared to Rs 209.92 crore recorded in Q1 FY25. Revenue from operations also declined 6.31% year-on-year (YoY) to Rs 5,178.99 crore in the first quarter of FY26.
Gland Pharma shed 0.37%. The company's consolidated net profit surged 49.88% to Rs 215.48 crore in Q1 FY26 as against Rs 143.76 crore posted in Q1 FY25. Revenue from operations increased by 7.41% YoY to Rs 1,505.62 crore for the quarter ended 30 June 2025.
Global Markets:
European markets advanced on Wednesday, as investors took advantage of recent market weakness, shrugging off fresh U.S. tariff threats and focusing instead on a mixed set of corporate earnings.
Most Asian shares ended higher as investors digested disappointing economic data and new tariff-related remarks from U.S. President Donald Trump.
'We're going to be announcing [tariffs] on semiconductors and chips, which is a separate category, because we want them made in the United States,' Trump said on Tuesday stateside, adding that he'll announce the new plan 'within the next week or so.'
On Wall Street, the three leading U.S. indexes finished lower Tuesday. The S&P 500 fell 0.49%, closing at 6,299.19, while the Nasdaq Composite slid 0.65% to end at 20,916.55. The Dow Jones Industrial Average moved 61.90 points lower, or 0.14%, to settle at 44,111.74.
U.S. services sector activity unexpectedly flatlined in July, data showed on Tuesday. The Institute for Supply Management (ISM) said on Tuesday its nonmanufacturing purchasing managers index (PMI) slipped to 50.1 last month from 50.8 in June. The data indicated that the employment had weakened further and input costs climbed by the most in nearly three years, underscoring the impact from President Donald Trump's tariff policy.
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