Sensex: 80,080.57 (down 705.97 points / 0.87%)
Nifty50: 24,500.9 (down 211.15 points / 0.85%)
In broader markets, Nifty MidCap 100 fell 1.27% and Nifty SmallCap 100 slipped 1.45%, showing that selling pressure wasn’t just in large-caps.
You may also like: Pidilite Industries stock analysis & expert insights in detail
Impact on the stock market
Sector-wise performance
The pressure was broad-based, with only the Consumer Durables index ending higher.
- IT, FMCG, PSU Banks fell over 1% each.
- Selling was seen across most sectors as tariff concerns raised fears of weaker demand and global headwinds.
- Investors are cautious given the macro backdrop: global crude volatility, rising geopolitical tensions, and uncertainty on exports.
| Sector/Index | Performance |
| IT & BPM sector | -1.59% |
| Healthcare sector | -0.92% |
| Oil & Gas sector | -0.45% |
| Real estate sector | -1.50% |
| PSU Bank in India | -1.03% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Titan Company | 3,637.70 | 1.22 |
| Larsen | 3,560.10 | 0.53 |
| Coal India | 374.30 | 0.50 |
| Hero Motocorp | 5,091.70 | 0.36 |
| Asian Paints | 2,489.00 | 0.31 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Shriram Finance | 571.65 | -3.88 |
| HCL Tech | 1,449.80 | -2.88 |
| TCS | 3,093.70 | -2.01 |
| Power Grid Corp | 274.45 | -1.95 |
| Infosys | 1,500.10 | -1.93 |
Market aftermath: Impact on stocks
Dr Agarwal’s Eye Hospital tanks on merger news
Shares of Dr Agarwal’s Eye Hospital fell nearly 18% intraday after its board approved a merger with parent Dr Agarwal’s Healthcare Ltd (AHCL). The merger involves AHCL issuing 23 shares for every 2 shares of AEHL.
- AEHL closed at ₹4,476.35, down 13%.
- AHCL also dropped 6% to ₹430.
- So far this year, AEHL shares have already slipped around 31%.
Investors seem concerned about valuation and dilution in the merger.
Also read: Everything You Need to Know About Dr. Agarwal’s Health Care IPO
Ola Electric surges on PLI certification
Ola Electric stock jumped 10% to ₹55.75, extending a two-day rally of 15%, after securing PLI certification for its Gen 3 scooters.
- The stock has recovered 41% from its 52-week low of ₹39.6 in just over a month.
- The certification makes Ola eligible for 13–18% incentives on sales until 2028.
- Analysts see this as a big step towards profitability from Q2FY26.
Peer Ather Energy saw marginal gains, while RattanIndia Enterprises surged over 6%. Helios Mutual Fund even compared Ola’s trajectory to Zomato, citing its disruptive potential.
Also read: Ola Electric stock analysis and expert insights in detail
Polycab India gains after Jefferies’ call
Shares of Polycab India rose over 1% to ₹7,148 after Jefferies maintained a buy rating with a target of ₹8,180—implying 16% upside.
- Polycab has posted 19% gains in three months, though still down 3% YTD.
- Q1FY26 results showed:
- Net profit: ₹600 crore (up 50% YoY)
- Revenue: ₹5,906 crore (up 25.7% YoY)
- EBITDA: ₹858 crore (up 47.1% YoY) with 14.5% margins
- Net profit: ₹600 crore (up 50% YoY)
- Growth drivers: strong cable & wires demand, power capex, and turnaround in FMEG.
Brokerages see 26% EPS CAGR between FY25–28, keeping Polycab in focus.
You may also read: Polycab India stock analysis and expert insights in detail
Crude oil: Russian discount isn’t what it seems
A new CLSA report revealed that India’s gains from discounted Russian crude oil are much smaller than earlier estimates.
- Net benefit: only $2.5 billion annually (≈0.6% of GDP) in FY25, far below the widely speculated $10–25 billion.
- Discounts on Russian oil have shrunk from $8.5 per barrel in FY24 to just $3–5 in FY25, and recently $1.5.
- India currently imports 36% of its crude from Russia, equal to 1.8 mbpd out of total 5.4 mbpd imports.
If India stopped importing Russian crude, oil prices could spike to $90–100 per barrel, fuelling global inflation. Policymakers are weighing the political pressure from the US against the economic benefits of discounted supply.
Conclusion
The Indian stock market on 28th August 2025 reflected a mix of global politics and local stock-specific stories. Tariff worries pulled down the indices, while merger news hurt Dr Agarwal’s Eye Hospital. On the flip side, Ola Electric and Polycab gave investors some cheer with growth-driven developments.
For investors, the big takeaway is that macro risks like tariffs and crude oil imports will continue to sway sentiment, but stock-specific triggers—like PLI certification, brokerage calls, and corporate restructuring—are where opportunities lie.
For more stock market insights, check out the StockGro blog.
