Top indices
| Index | Closing level | Change (pts/%) | Commentary |
|---|---|---|---|
| Nifty 50 | 24,500.90 | ▼ 211.15 pts (-0.85 %) | Index slid below the 24.7k support as selling accelerated on news of the US doubling tariffs on Indian imports to 50 %. Early attempts at a bounce failed, and the benchmark closed near day’s low around 24.5k. |
| Sensex | 80,080.57 | ▼ 705.97 pts (-0.87 %) | The 30‑share index dropped for a second session, finishing below 81k. Heavyweights such as Sun Pharma, Tata Steel and Bajaj Finance dragged the index lower while only five constituents closed in the green. |
| Bank Nifty | 54,280.80 | ▼ 169.65 pts (-0.31 %) | Banking shares lagged as foreign investors pared exposure. HDFC Bank (‑1.0 %) and ICICI Bank (‑1.16 %) were notable drags, while PSU lenders such as IDFC First Bank and PNB fell 2–2.5 %. |
| Nifty IT | 35,635.25 | ▼ 427.95 pts (-1.19 %) | Tech stocks tumbled amid concerns that higher US tariffs could hurt export‑oriented services. HCL Tech (‑2.85 %) and TCS (‑1.88 %) were major losers. |
| Nifty FMCG | 17,876.9 (approx.) | ▲ ~0.5 % | Consumption names bucked the trend as investors sought defensive plays; Hindustan Unilever (+2.3 %), Nestlé (+2.2 %) and Colgate (+1.4 %) lifted the gauge. |
| Nifty Realty | 882.50 | ▼ 1.50 % | The worst‑performing sector; rate‑sensitive real‑estate shares suffered heavy profit‑taking. |
| Nifty Smallcap 100 | 17,294.35 | ▼ 1.45 % | Broader markets witnessed intense selling; mid‑ and small‑cap indices corrected more than large‑caps as traders trimmed risk. |
Other indices: The India VIX volatility index jumped around 3.7 %, reflecting greater nervousness. WTI crude slipped 0.57 % to ~US$63.56 per barrel, while the US 10‑yr Treasury yield held near 4.23 %.
Key market statistics
| Statistic | Data/Observation | Context |
|---|---|---|
| Market breadth | ~728 stocks advanced vs 2,280 declining on the NSE | The poor advance‑decline ratio underscored broad‑based weakness. |
| Sector count | Only one of the 14 NSE sectoral indices (FMCG) ended green | Bearish sentiment was pervasive across sectors, with realty, pharma and metals leading declines. |
| India VIX | Up ≈3.7 % | Rising volatility signalled trader caution and potential for larger swings ahead. |
| FII/DII flows | FIIs continued to sell (est. ₹2,500–6,500 cr net outflow over previous sessions) while DIIs bought (~₹3,000–7,000 cr net inflow) | Domestic institutions cushioned some of the selling pressure, but foreign outflows persisted amid macro uncertainty. |
| Intraday range (Nifty) | High 24,654 → Low 24,452 (approx.) | Index oscillated within a ~200‑point band before closing near the day’s low. |
Top gainers & losers (Nifty 50)
| Top gainers | Price (₹) | % chg | Comment |
|---|---|---|---|
| Titan Co. | 3,632.0 | +1.06 % | Jewellery & watchmaker advanced as investors rotated into consumer‑durable names less exposed to US tariffs. |
| Coal India | 375.0 | +0.68 % | Gain driven by firm coal prices and expectations of higher volumes ahead of the festive season. |
| Hero MotoCorp | 5,106.6 | +0.65 % | Two‑wheeler maker gained on hopes of rural demand recovery; auto sector displayed relative strength. |
| Larsen & Toubro (LT) | 3,564.1 | +0.64 % | Engineering giant inched higher after bagging large domestic orders; infra spending outlook remains positive. |
| Maruti Suzuki | 14,798.0 | +0.57 % | Stock rose as August vehicle dispatches were expected to remain strong; auto exports less exposed to tariffs. |
| Top losers | Price (₹) | % chg | Comment |
|---|---|---|---|
| Shriram Finance | 571.25 | −3.94 % | NBFC slumped amid fears that higher US tariffs could dent financing demand and due to FII selling in financials. |
| HCL Technologies | 1,450.20 | −2.85 % | Software exporter weakened on concerns that US orders could slow; sectoral selling dragged peers. |
| Power Grid Corp. | 274.20 | −2.04 % | Declined in line with broader utilities; rising bond yields dampened appetite for defensive stocks. |
| Tata Consultancy Services (TCS) | 3,098.00 | −1.88 % | IT major slipped as investors trimmed positions ahead of potential slowdown in North America orders. |
| Tata Consumer Products | 1,060.20 | −1.82 % | FMCG peer fell despite sectoral strength; valuations and profit‑booking triggered the pullback. |
What moved the market
- US trade actions: The United States activated an additional 25 % duty on Indian imports (taking total tariffs to 50 %) due to geopolitical tensions. The move rattled investor confidence, particularly in export‑oriented sectors such as IT, metals, textiles and auto components, and set a risk‑off tone across Dalal Street.
- Broad‑based selling & FII outflows: Foreign portfolio investors continued to offload Indian equities, reflecting caution over trade frictions and global growth. Domestic institutions purchased shares but could not fully offset the selling pressure. This led to weakness across large‑cap, mid‑cap and small‑cap segments.
- Weak sectoral cues: Technology and banking stocks bore the brunt of the sell‑off. Nifty IT tumbled over 1 %, dragged by HCL Tech, TCS and Infosys. Bank Nifty slipped as major lenders like HDFC Bank and ICICI Bank saw profit‑booking and as NBFCs such as Shriram Finance were hit. The realty index also declined sharply.
- Flight to defensives: Amid the sell‑off, investors sought safety in select consumer‑focused names. The FMCG and consumer durables indices eked out gains led by Hindustan Unilever, Titan, Nestlé and Asian Paints.
- Higher volatility: India VIX jumped by ~3.7 %, pointing to nervousness ahead of a potentially volatile expiry day and heightened global uncertainty.
Global cues
- US markets resilient: Overnight, the Dow Jones Industrial Average rose about 0.3 %, while the NASDAQ and S&P 500 added around 0.3 % and 0.2 %, respectively. Solid earnings from US technology giants and stable macro data lent support.
- Asian markets mixed: Japan’s Nikkei 225 climbed roughly 0.65 % as the yen stayed weak. However, Hong Kong’s Hang Seng fell about 0.66 % due to weakness in Chinese consumption‑related stocks. Mainland China’s Shanghai Composite gained a marginal 0.07 %.
- Commodities & currencies: WTI crude oil dipped below US$64/bbl, easing some inflation fears. The US dollar index remained firm, pressuring emerging‑market currencies. Gold hovered near US$1,950/oz, reflecting safe‑haven demand.
Stocks to watch & corporate updates
| Stock/Company | Update/Reason to watch |
|---|---|
| InterGlobe Aviation (IndiGo) | Co‑founder Rakesh Gangwal and the Chinkerpoo Family Trust plan to sell a 3.1 % stake (≈₹7,027 cr) via a block deal at a ~4 % discount. The large sale could create short‑term supply pressure. |
| Rail Vikas Nigam (RVNL) | Formed a joint venture with Texmaco Rail & Engineering to pursue railway and allied infrastructure projects, with RVNL holding 51 %. The collaboration may bolster order inflows. |
| BSE Ltd. | Announced merger of its subsidiaries BSE Investments and BSE Administration & Supervision with BSE Technologies to streamline operations. |
| E2E Networks | Secured a contract worth ₹88.02 cr from IndiaAI to supply advanced GPUs for building India’s foundational AI model. |
| Tata Steel | Invested ₹3,100 cr into its Singapore‑based subsidiary T Steel Holdings Pte Ltd, signalling expansion of overseas operations. |
| Karur Vysya Bank | Completed allotment of 16.10 cr bonus shares (1:1 ratio); stock could remain volatile post‑listing. |
| G R Infraprojects | Received a ₹367 cr letter of intent from REC Power Development to develop a transmission project; likely to improve order book. |
| Mangal Electrical Industries | Debuted on the NSE at ₹556, roughly 0.9 % below its issue price, despite robust subscription. The tepid listing may temper sentiment in the SME IPO space. |
Outlook for the next trading day (29 Aug 2025)
Technical levels
| Index | Support levels | Resistance levels | Bias |
|---|---|---|---|
| Nifty 50 | 24,400 – 24,520 | 24,900 – 25,000 | Bears maintain the upper hand below 24,700; a bounce towards 24,900 could face selling pressure. |
| Bank Nifty | 54,035 – 53,778 | 54,866 – 55,123 | Bank index is approaching key support near 54k; a breakdown could extend the slide to 53,500. |
| Sensex | 80,208 – 79,850 | 81,365 – 81,723 | A move below 80k may invite further declines toward 79,500; resistance lies near 81.3k. |
| Nifty Financial Services (FINNIFTY) | 25,736 – 25,602 | 26,169 – 26,303 | Financials appear weak; watch for support around 25,600. |
Expected market tone
- Cautious with a downward bias: The tariff‑induced sell‑off has damaged short‑term sentiment. Unless positive news emerges on trade or FIIs turn buyers, rallies are likely to be sold into. Traders may adopt a wait‑and‑watch approach ahead of the month‑end expiry.
- Support testing: Nifty is now hovering near crucial support at 24,500. A decisive close below this level could trigger a further slide toward 24,300–24,150. Conversely, any relief rally is likely to find resistance near 24,900–25,000.
- Sector rotation: Defensives such as FMCG, consumer durables and select auto names may continue to attract interest. Export‑oriented sectors (IT, metals, textiles) and rate‑sensitive realty could remain under pressure.
- Volatility ahead: Elevated India VIX suggests larger intraday swings. Traders should maintain proper stop‑losses and avoid large positions. Options writers may shift to lower strikes to account for the increased volatility.
Summary
The Indian market on 28 Aug 2025 saw broad‑based selling as the US doubled tariffs on Indian imports, triggering risk‑off sentiment. Key indices – the Nifty 50 and Sensex – slid ~0.85 % each, with banking and IT stocks leading declines. Only a handful of defensive names like Titan, Coal India and Hero MotoCorp managed to eke out gains. Market breadth was deeply negative and volatility rose, indicating caution among investors. With critical supports under test, tomorrow’s trade is likely to be choppy; participants should watch global cues, especially any developments on the tariff front, and monitor whether indices hold above their respective support zones.
