Nifty Below 24,500, HDFC Bank, ICICI Bank Weigh; Pharma Tops Sectoral Chart

Market Update at 4:15 PM: On Tuesday, August 12, Indian benchmark indices closed lower, dragged down by weakness in major private lenders HDFC Bank and ICICI Bank. The Nifty 50 ended down by 97.65 points or 0.40 per cent at 24,487.40, while the Sensex slipped by 368.48 points or 0.46 per cent to settle at 80,235.60.

Out of the 11 key sectoral indices, six ended in positive territory. The Nifty Pharma index emerged as the top gainer, rising 0.69 per cent, supported by gains in Alkem Laboratories and Biocon. The index also closed above its 200-day exponential moving average (DEMA). On the other hand, Nifty Financial Services fell 1.02 per cent, weighed down by Shriram Finance and Kotak Mahindra Bank.

In stock-specific action, Tilaknagar Industries surged over 4.5 per cent after reporting a more than two-fold rise in Q1 profit on strong sales and improved margins. Praj Industries declined 7.14 per cent after posting lower consolidated net profit and sales in Q1FY26 compared to Q1FY25. Astral plunged 8.13 per cent following weaker Quarterly Results, while Bata India dropped over 4 per cent to a five-year low after a profit decline.

Mahindra & Mahindra, Maruti Suzuki, and Larsen & Toubro were the top positive contributors to Nifty gains, adding 9.75, 6.98, and 4.47 points respectively. Conversely, HDFC Bank, ICICI Bank, and Bajaj Finance were the major drags, eroding 43.35, 23.52, and 14.47 points from the index.

The broader markets ended mixed, with the Nifty Midcap 100 index slipping 0.27 per cent and the Nifty Smallcap 100 index inching up 0.04 per cent. Market breadth favoured advancers, as out of 3,064 stocks traded on the NSE, 1,422 advanced, 1,544 declined, and 98 remained unchanged.

A total of 36 stocks hit their 52-week highs, while 64 touched their 52-week lows. Additionally, 97 stocks were locked in upper circuits and 45 stocks hit lower circuits.

Market Update at 12:15 PM: The Indian equity market reversed early gains to trade lower on Tuesday amid mixed global cues, as investors awaited India’s consumer price index (CPI) data for July.

As of 12:00 PM, the BSE Sensex was at 80,478.58, down 125.5 points or 0.16 per cent, while the NSE Nifty50 stood at 24,557.55, lower by 27.5 points or 0.11 per cent.

Bajaj Finance, Eternal (Zomato), ICICI Bank, Trent, HDFC Bank and BEL were among the top laggards, declining up to 2 per cent. On the other hand, Maruti Suzuki, Tech Mahindra, M&M, Tata Steel and Titan were the Top Gainers, advancing up to 2.7 per cent.

In the broader market, the Nifty MidCap100 index slipped 0.23 per cent, while the SmallCap indices remained flat. Large-Cap counters in sectors like IT and Auto supported the market, while weakness was seen in Realty and Private Banking stocks.

Sector-wise, Nifty Media rose 1 per cent, followed by Nifty Auto up 0.8 per cent, Nifty IT 0.75 per cent and Nifty Oil and Gas 0.5 per cent. In contrast, Nifty Realty and Nifty Private Bank indices fell nearly 1 per cent each.

Market Update at 10:30 AM: Indian equity markets opened on a subdued note on Tuesday, as weakness in financial stocks offset gains in other sectors. Investors remained cautious ahead of domestic and U.S. inflation readings that could shape near-term interest rate outlooks.

At 9:22 a.m. IST, the Nifty 50 was down 0.01 per cent at 24,583.75, while the BSE Sensex slipped 0.03 per cent to 80,577.85. Out of 16 key sectoral indices, nine traded higher in early deals. However, financials and banking indices declined 0.4 per cent each, giving up part of Monday’s near 0.9 per cent rally that followed State Bank of India’s post-results surge.

Broader indices such as Small-Caps and Mid-Caps were largely unchanged. Across Asia, market sentiment was muted, with the MSCI Asia ex-Japan index inching up 0.1 per cent as traders reacted mildly to U.S. President Donald Trump’s move to extend the tariff truce with China by 90 days. U.S. CPI data, due later today, is expected to guide the Federal Reserve’s interest rate path.

Pre-Market Update at 7:30 AM: On Tuesday, August 12, the GIFT Nifty signalled a muted opening for the benchmark Nifty index. As of 7:14 AM, the GIFT Nifty was trading near 24,601, up 26 points from the previous close.

Asian markets were mixed, with Japan’s Nikkei hitting a record high, while U.S. markets ended lower overnight. Reports indicate that U.S.-Russia peace talks may take place this week.

Thirteen major companies will announce their Q1 FY26 results today, including Hindustan Aeronautics, Oil and Natural Gas Corporation, Hindalco Industries, Apollo Hospitals Enterprises, Jindal Steel & Power, Zydus Lifesciences, Suzlon Energy, NHPC, Lloyds Metals and Energy, Rail Vikas Nigam, Abbott India, Oil India and NMDC. Investors will watch for updates on quarterly results that could influence stock-specific action, particularly in large-cap, mid-cap, and small-cap segments.

On Monday, August 8, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,202.65 crore, while Domestic Institutional Investors (DIIs) purchased shares worth Rs 5,972.36 crore. This marked the 26th straight trading session of net buying by DIIs.

Indian equities closed higher on Monday, supported by short-covering and broad-based gains. The Sensex rose 746.29 points (0.93 per cent) to 80,604.08, while the Nifty 50 advanced 221.75 points (0.91 per cent) to 24,585.05.

On Wall Street, U.S. indices closed in the red as traders assessed U.S.-China trade developments. The Dow Jones fell 200.52 points (0.45 per cent) to 43,975.09, the S&P 500 slipped 16 points (0.25 per cent) to 6,373.45, and the Nasdaq declined 64.62 points (0.30 per cent) to 21,385.40.

The United States and China extended their tariff truce by 90 days. U.S. President Donald Trump announced via Truth Social that an executive order was signed to delay a tariff hike until November 10, with all other terms unchanged.

Gold prices edged higher, recovering from the previous session’s decline, as traders awaited U.S. inflation data. Spot gold was up 0.3 per cent at USD 3,355.59 per ounce. Crude oil prices also rose, with Brent crude up 0.30 per cent to USD 66.83 a barrel and U.S. WTI crude gaining 0.25 per cent to USD 64.12.

For today, PNB Housing, PG Electroplast and RBL Bank remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.