The NSE Nifty50, which ended the previous session at 24,435.95, opened at 24,431.60 and slipped to 24,349.75, declining 86.20 points or 0.35%, in early trading
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Thitima Uthaiburom
Benchmark indices opened lower on Thursday, weighed down by losses in cement, metals and consumer stocks, even as the healthcare and technology counters offered some support. The BSE Sensex, which closed at 77,966.35 on Wednesday, opened at 78,111.91 and was trading at 77,809.72, down 156.63 points or 0.20 per cent, at 9.23 AM. The NSE Nifty50, which ended the previous session at 24,435.95, opened at 24,431.60 and slipped to 24,349.75, declining 86.20 points or 0.35 per cent, at the same time.
Apollo Hospitals led the Nifty gainers, rising 1.58 per cent to ₹8,732.50 from its previous close of ₹8,597.00, after opening at ₹8,740.50. Eternal followed with a gain of 1.08 per cent to ₹317.45, while Shriram Finance added 0.95 per cent to ₹1,127.80. Tech Mahindra climbed 0.87 per cent to ₹1,639.20, and Mahindra & Mahindra edged up 0.76 per cent to ₹3,429.50, providing selective support to the index.
On the losing side, Grasim Industries fell the most, declining 2.30 per cent to ₹3,231.60 from its previous close of ₹3,307.80. UltraTech Cement dropped 2.15 per cent to ₹11,635.00 against its previous close of ₹11,891.00. Hindalco Industries shed 1.82 per cent to ₹1,058.90, Titan Company fell 1.16 per cent to ₹5,040.00, and Reliance Industries slipped 1.08 per cent to ₹1,314.70, adding to the morning’s selling pressure.
The weakness in Grasim and UltraTech Cement pulled the cement sector lower, while Hindalco’s decline reflected pressure in the metals space. Reliance Industries’ fall weighed on energy and conglomerate indices. In contrast, the healthcare sector found support through Apollo Hospitals, and the IT sector showed selective buying with Tech Mahindra in positive territory.
The previous session on August 12 saw the Nifty close down 35.75 points, after touching an intraday low of 24,265.95, before recovering to close above 24,400. PSU Banks outperformed, while IT, FMCG and Auto remained under pressure. Bank Nifty settled at 57,885.85, gaining 439.60 points or 0.77 per cent, on strong private banking support.
Foreign Institutional Investors remained net sellers on Wednesday, offloading equities worth ₹1,002 crore, while Domestic Institutional Investors provided a strong counter by purchasing shares worth ₹5,841 crore, helping absorb some of the selling pressure.
On the global front, US July CPI rose 3.4 per cent year-on-year, in line with market expectations, easing concerns over an aggressive Federal Reserve move in September. Gold rallied above $4,400, a two-month high, on rising expectations that the Fed may hold rates. The Nasdaq Composite and S&P 500 rose 0.54 per cent and 0.26 per cent respectively, lifted by gains in AI infrastructure and cloud stocks. Asian markets reflected the improved sentiment, with South Korea’s Kospi surging nearly 5 per cent and Japan’s Nikkei 225 advancing over 1 per cent.
Domestically, India’s CPI rose to 4.45 per cent year-on-year in July, a 19-month high, from 4.38 per cent in June, driven primarily by food prices. Food and Beverage inflation rose to 5.24 per cent, with onion and garlic inflation surging to 22.6 per cent and 35.4 per cent, respectively. Amar Ambani, Executive Director at YES Securities, noted that…”the current food inflation shock remains concentrated in selected food categories rather than representing a broad-based acceleration across the entire food basket.”
The RBI kept its repo rate unchanged at 5.25 per cent at its August MPC meeting, retaining a neutral stance, while lowering its FY27 CPI inflation forecast marginally to 5.0 per cent from 5.1 per cent. Ambani flagged that…”any further policy tightening is likely to remain contingent on a sustained rise in energy prices or evidence of broader, demand-driven inflationary pressures.”
Crude oil remained a key concern. Brent crude held near $88 per barrel as the US-Iran standoff over the Strait of Hormuz kept geopolitical risk premiums elevated. WTI crude eased to near $82 per barrel but remained well above pre-escalation levels. The rupee closed at 95.33 on Wednesday, appreciating 10 paise after two sessions of losses, aided by cooling crude prices and likely central bank intervention.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said the market is backed by strong fundamentals, pointing out that…”high frequency indicators like GST collections, freight, auto sales and credit growth are big positives that can surprise growth and earnings on the upside.” He added that…”the ideal investment strategy at this juncture is to remain invested and continuing to invest systematically.”
Hitesh Tailor, Technical Research Analyst at Choice Broking, noted that…”elevated crude prices and ongoing US-Iran tensions remain key risks for Indian equities,” even as the softer US inflation print eased fears of an imminent rate hike.
Technically, key support for the Nifty is placed at 24,250–24,300, with resistance at 24,600–24,650. For the Sensex, 77,500 is seen as the immediate support zone. Bank Nifty’s immediate resistance stands at 58,000, with support at 57,300–57,500. Traders and analysts broadly expect the market to remain range-bound in the near term, with sector rotation and stock-specific activity likely to dominate trading.
Published on August 13, 2026
