The domestic equity benchmarks staged a late rebound on Thursday, with the benchmark indices managing to shake off early jitters and end slightly in the green. The turnaround came in the final trading hour, coinciding with the weekly expiry of Nifty derivatives, as bargain hunters stepped in and buying momentum picked up. Sentiment, initially weighed down by the U.S. administration’s surprise announcement to double tariffs on Indian exports, found relief after top brokerages downplayed the long-term impact on India Inc. While the August 27 deadline looms large, analysts noted that negotiations remain on the table, tempering fears of an all-out trade hit.

The Nifty 50 opened at 24,464.20 and briefly ticked higher, but the momentum fizzled out by mid-morning. The index drifted lower through the day, hitting a session low of 24,344.15 early in the afternoon. Then came the rebound: a sharp recovery driven by buying in heavyweight counters propelled the index to an intraday high of 24,634.20. The Nifty eventually settled above 24,590, reflecting a strong late-session rebound after a lackluster start. IT and pharma stocks attracted strong buying interest, while energy and realty counters faced selling pressure.

The S&P BSE Sensex added 79.27 points or 0.10% to 80,623.26. The Nifty 50 index rose 21.95 points or 0.09% to 24,596.15.

Hero Motocorp (up 4.13%), JSW Steel (up 1.36%) and HDFC Bank (up 0.63%) pushed the Nifty higher today.

In the broader market, the S&P BSE Mid-Cap index rose 30% and the S&P BSE Small-Cap index fell 0.18%.

The market breadth was negative. On the BSE, 1,844 shares rose and 2,193 shares fell. A total of 155 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 2.27% to 11.69.

Trump's Tariff:

United States President Donald Trump announced an additional 25% tariff on Indian goods on August 6. This effectively doubles the total import duties to 50%. The decision responds to India’s ongoing purchase of Russian oil, which the U.S. believes undermines its sanctions. The new tariffs will come into effect on August 27. The move is expected to severely impact key Indian export sectors, including leather, chemicals, footwear, gems and jewellery, textiles, and shrimp.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.05% to 6.404 from the previous close of 6.407.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.7050 compared with its close of 87.7200 during the previous trading session.

MCX Gold futures for 03 October 2025 settlement rose 0.24% to Rs 1,01,500.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 98.

The United States 10-year bond yield shed 0.02% to 4.229.

In the commodities market, Brent crude for Oct 2025 settlement gained 43 cents or 0.64% to $67.32 a barrel.

Global Markets:

The US Dow Jones index futures are currently up by 247 points, indicating a positive start for US stocks today.

Most European markets traded higher on Thursday as investors turned their focus to the upcoming Bank of England monetary policy meeting.

Most Asian indices ended higher even as U.S. President Donald Trump vowed to impose a 100% tariff on imports of semiconductors and chips.

However, the companies that are "building in the United States" would be exempted from the said tariff.

Meanwhile, South Korea posted a record-high current account surplus in June on strong demand for technology exports, central bank data showed on Thursday.

The country's current account stood at a surplus of $14.27 billion, up from $10.14 billion in May. It was reportedly the biggest monthly surplus in the data series dating back to January 1980.

South Korea's trade deal with the U.S. will take a huge burden off monetary policymakers at their upcoming meeting later this month, the country's central bank governor reportedly said on Thursday at his first meeting with the newly appointed finance minister.

The Bank of Korea kept its benchmark interest rate unchanged at 2.50% last month, but a majority of board members signaled another rate cut in the next three months and warned of "significant" economic uncertainty from the U.S. tariffs. The central bank next meets on August 28.

All three major equity averages on Wall Street finished with gains on Wednesday. The S&P 500 advanced 0.73% to finish at 6,345.06, while the Nasdaq Composite jumped 1.21%, closing at 21,169.42. The Dow Jones Industrial Average also rose 81.38 points, or 0.18%, to end the day at 44,193.12.

Stocks in Spotlight:

Hero Motocorp advanced 4.13% after the company’s standalone net profit rose 0.3% to Rs 1,125.70 crore despite of 5.6% decline in revenue from operations to Rs 9,578.86 crore in Q1 FY26 over Q1 FY25.

Sula Vineyards declined 4.88% after the company’s consolidated net profit tumbled 86.7% to Rs 1.94 crore on 9.3% fall in revenue from operations (excluding net excise duty) to Rs 109.64 crore in Q1 FY26 over Q1 FY25.

Trent shed 0.85%. The company reported a 9.45% increase in consolidated net profit to Rs 429.69 crore in Q1 FY26 as against Rs 392.57 crore posted in Q1 FY25. Revenue from operations jumped 18.98% YoY to Rs 4,883.48 crore in the quarter ended 30 June 2025.

Rain Industries surged 7.36% after the company reported a net profit of Rs 60.70 crore in Q2 FY25, compared to a loss of Rs 77.88 crore in Q2 FY24. Revenue from operations rose 7.5% to Rs 4,401.38 crore from Rs 4,094.15 crore a year earlier.

Caplin Point Laboratories surged 6.71%. The company reported an 11.2% rise in revenue from operations to Rs 510.2 crore in Q1 FY26. Profit before tax jumped 19.5% YoY to Rs 184.5 crore, while profit after tax (PAT) rose 20.7% to Rs 150.8 crore. EBITDA came in at Rs 200.9 crore, growing 17.9% YoY, with the EBITDA margin expanding to 37.7% from 35.7% in Q1 FY25.

PVR Inox rose 2.86%. The cinema exhibitor reported a net loss after minority interest of Rs 54 crore in Q1 FY26, compared to a significantly wider loss of Rs 178.70 crore in the same quarter last year. Net sales rose 23.38% year-on-year to Rs 1,469.10 crore, up from Rs 1,190.70 crore in Q1 FY25.

Jindal Stainless declined 1.02%. The company has reported an 11% rise in consolidated net profit to Rs 715 crore on an 8% increase in revenue from operations to Rs 10,207 crore in Q1 FY26 over Q1 FY25.

Bharat Heavy Electricals (BHEL) tanked 4.94% after the company’s consolidated net loss widened to Rs 445.50 crore in Q1 FY26 compared with a net loss of Rs 211.40 crore in Q1 FY25. Revenue from operations saw a marginal year-on-year (YoY) increase of 0.03%, reaching Rs 5,486.91 crore in the quarter ended 30 June 2025.

IRCON International declined 3.58% after the company’s consolidated net profit dropped 26.75% to Rs 164.10 crore in Q1 FY26, compared to Rs 224.03 crore in Q1 FY25. Revenue from operations declined 21.89% to Rs 1,786.28 crore during the quarter, compared to Rs 2,287.13 crore in the same quarter last year.

VIP Industries rose 1.66%. The firm reported a consolidated net loss of Rs 13.10 crore in Q1 FY26 compared with a net profit of Rs 4.04 crore in Q1 FY25. Revenue from operations declined 12.12% year on year (YoY) to Rs 561.43 crore in the quarter ended 30 June 2025.

Fortis Healthcare jumped 2.83% after the company reported a 56.83% surge in consolidated net profit to Rs 260.28 crore in Q1 FY26, compared to Rs 165.96 crore in Q1 FY25. Revenue from operations rose 16.55% year-on-year (YoY) to Rs 2,166.72 crore in the quarter ended 30 June 2025.

RateGain Travel Technologies added 3.04% after the company’s consolidated net profit jumped 3% to Rs 46.93 crore on 4.96% increase in revenue from operations to Rs 272.91 crore in Q1 FY26 over Q1 FY25.

IPO Update:

Highway Infrastructure's IPO received bids for 4,80,62,11,805 shares as against 1,60,43,046 shares on offer, according to stock exchange data at 16:33 IST on Wednesday (6 August 2025). The issue was subscribed 299.58 times.

JSW Cement's IPO received bids for 5,12,76,114 shares as against 18,12,94,964 shares on offer, according to stock exchange data at 16:33 IST on Wednesday (6 August 2025). The issue was subscribed 0.28 times.

All Time Plastics' IPO received bids for 36,28,530 shares as against 1,05,46,297 shares on offer, according to stock exchange data at 16:33 IST on Thursday (7 August 2025). The issue was subscribed 0.34 times.