Indices remain under pressure in late morning deals

Domestic equity indices remained under pressure in late morning trade as market participants continued to reduce their positions. Weak global market trends and foreign fund outflows added to the pressure. Foreign institutional investors sold Indian equities worth Rs 5,039.80 crore on August 28, 2026. Further, sentiments remained weak as crude oil prices rose amid heightened concerns over supply disruptions after U.S. forces struck two Iranian rocket launchers on Larak Island.

Both Sensex and Nifty were trading lower on account of selling in shares of Infosys, Tata Consultancy Services, State Bank of India, Larsen & Toubro, and Reliance Industries. Most of the sectoral indices on the BSE were trading in the red, led by Metal, Realty, IT, Utilities, and Basic Materials. On the global front, Asian markets were trading mostly in the red, following weak cues from the U.S. markets on Friday. Traders were cautious after US Federal Reserve Chair Kevin Warsh's comments raised the odds of a near-term rate hike in the world's largest economy.

The BSE Sensex is currently trading at 76814.07, down by 450.44 points or 0.58% after trading in a range of 76751.32 and 77177.27. There were 2 stocks advancing against 28 stocks declining on the index.

The only gaining sectoral index on the BSE was Telecom up by 0.54%, while Metal down by 2.10%, Realty down by 1.78%, IT down by 1.63%, Utilities down by 1.49% and Basic Materials down by 1.49% were the top losing indices on BSE.

The only gainers on the Sensex were HDFC Bank up by 0.65% and Bharti Airtel up by 0.41%. On the flip side, Tata Steel down by 2.31%, Infosys down by 2.20%, Interglobe Aviation down by 2.11%, Bajaj Finance down by 1.94% and Adani Ports down by 1.45% were the top losers.

Meanwhile, the Automotive Tyre Manufacturers' Association (ATMA) has said that India’s tyre exports increased 16 per cent year-on-year to Rs 7,700 crore in Q1 (April-June) of FY27, despite geopolitical uncertainty, ongoing supply-chain disruptions and higher input and logistics costs. Citing data released by the Ministry of Commerce, ATMA said the significant growth in tyre exports during Q1FY27 builds on the industry's record export value of Rs 27,312 crore achieved in FY26.  

ATMA said improved market access through trade agreements, along with supportive export policies, could help the industry sustain its growth momentum and strengthen India’s position as a global tyre manufacturing and export hub. It said Passenger Car Radial (PCR) tyres recorded notable growth during Q1FY27, with exports rising 21% in value terms compared with the year-ago period. 

The Association further said Europe emerged as a key growth market, with tyre exports to the region increasing 25 per cent to Rs 3,003 crore during Q1FY27. The region accounted for nearly 40 per cent of India's total tyre exports. The United States (US) remained the single-largest export destination, accounting for 16 percent of total export value for the quarter. Indian-manufactured tyres are currently exported to more than 170 countries. India’s overseas tyre presence also extends beyond direct tyre exports. 

The CNX Nifty is currently trading at 24002.95, down by 172.70 points or 0.71% after trading in a range of 23993.60 and 24128.70. There were 7 stocks advancing against 43 stocks declining on the index.

The top gainers on Nifty were Bajaj Auto up by 0.66%, HDFC Bank up by 0.56%, Bharti Airtel up by 0.42%, Apollo Hospital up by 0.20% and ONGC up by 0.09%. On the flip side, Adani Enterprises down by 2.73%, Tata Steel down by 2.57%, Bajaj Finance down by 2.52%, Hindalco Industries down by 2.52% and Wipro down by 2.46% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 258.56 points or 0.39% to 66,147.00, Taiwan Weighted lost 351.78 points or 0.77% to 45,979.67, Jakarta Composite plunged 0.88 points or 0.01% to 6,517.24, KOSPI dropped 24.59 points or 0.36% to 6,764.29 and Hang Seng declined 136.79 points or 0.53% to 25,448.00. However, Shanghai Composite strengthened 12.24 points or 0.31% to 3,964.42 and Straits Times rose 32.25 points or 0.57% to 5,732.18.