Weakness persists in markets during late morning deals

Indian equity markets were trading lower in late morning deals, with benchmark indices witnessing divergent trends, tracking a surge in crude oil prices amid renewed uncertainty over the Middle East and weak global cues ahead of key US economic data. Investors remained focused on the ongoing June-quarter earnings season, with several heavyweight companies scheduled to announce results later in the day. State Bank of India (SBI), Titan Company, and Hindalco Industries were among the key companies set to report earnings.

The BSE Sensex was trading around half a per cent lower as selling pressure in heavyweight banking and financial stocks, led by Bajaj Finance, Bajaj Finserv, and ICICI Bank, weighed on the benchmark index. The decline came after the Reserve Bank of India (RBI) released draft norms proposing tighter restrictions on certain revolving credit products offered by non-bank lenders.

The Nifty 50 was trading lower, down around a quarter per cent, amid foreign institutional investor (FII) outflows. However, the downside remained capped due to buying support in index heavyweight information technology (IT) stocks.

On the global front, Asian markets were trading mixed with caution as investors awaited the US non-farm payrolls report, a key data release that could influence expectations for the Federal Reserve’s next policy move.

The BSE Sensex is currently trading at 78584.64, down by 370.12 points or 0.47% after trading in a range of 78451.99 and 78757.40. There were 13 stocks advancing against 17 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 1.06%, Auto up by 0.87%, TECK up by 0.56%, Power up by 0.50% and FMCG up by 0.46%, while Bankex down by 0.68%, Consumer Durables down by 0.40%, Telecom down by 0.28%, Basic Materials down by 0.20% and Metal down by 0.16% were the top losing indices on BSE.

The top gainers on the Sensex were TCS up by 2.78%, Mahindra & Mahindra up by 1.43%, Infosys up by 0.75%, Tech Mahindra up by 0.73% and State Bank of India up by 0.68%. On the flip side, Bajaj Finance down by 4.78%, Bajaj Finserv down by 3.82%, Trent down by 2.77%, ICICI Bank down by 2.50% and Asian Paints down by 1.22% were the top losers.

Meanwhile, the Federation of Automobile Dealers Associations (FADA) has said that India’s total automobile retail sales surged 25.89 per cent year-on-year to 25,91,138 units in July 2026 as compared with 20,58,325 units in the corresponding month last year. It said this momentum has continued since the GST rationalisation implemented in the latter part of 2025.  

FADA said passenger vehicle (PV) retail sales increased 19.13 per cent to 4,16,555 units in July 2026, compared with 3,49,674 units in the corresponding month last year. Two-wheeler sales registered the strongest growth among major segments, climbing 28.25 per cent to 18,18,289 units July 2026 from 14,17,767 units a year earlier. 

It said three-wheeler retail sales rose 16.16 per cent year-on-year to 1,33,778 units in July 2026, up from 1,15,166 units in July 2025. Meanwhile, commercial vehicle retail sales grew 24.04 per cent to 99,666 units in July 2026, compared with 80,348 units in the same month last year.

The CNX Nifty is currently trading at 24579.35, down by 56.65 points or 0.23% after trading in a range of 24529.20 and 24630.40. There were 23 stocks advancing against 27 stocks declining on the index.

The top gainers on Nifty were TCS up by 2.68%, Mahindra & Mahindra up by 1.90%, ONGC up by 1.16%, Nestle India up by 1.03% and HCL Technologies up by 0.99%. On the flip side, Bajaj Finance down by 4.39%, Bajaj Finserv down by 3.77%, Trent down by 2.53%, Shriram Finance down by 1.88% and Asian Paints down by 1.48% were the top losers.

Asian markets were trading mixed; Hang Seng jumped 112.72 points or 0.44% to 25,643.00, Straits Times rose 49.78 points or 0.88% to 5,688.77, Jakarta Composite gained 44.77 points or 0.7% to 6,388.48 and Shanghai Composite was up by 29.85 points or 0.77% to 3,930.20.

On the other hand, Nikkei 225 slipped 187.26 points or 0.29% to 65,496.00, Taiwan Weighted lost 170.79 points or 0.39% to 44,225.91 and KOSPI fell 45.90 points or 0.73% to 6,250.48.