The BSE Sensex closed at 83,442.50, up by a marginal 9.61 points or 0.01%, while the Nifty50 finished the day at 25,461.3, gaining 55.7 points or 0.22%.
While these gains are modest, they reflect investor reluctance to make bold moves due to the volatility expected in the coming weeks, especially following statements from US Treasury Secretary Scott Bessent about impending tariffs set to begin on August 1.
In the broader markets, however, the story was different. The NSE MidCap 100 index ended down by 0.27%, and the NSE SmallCap 100 index fell by 0.44%, indicating that riskier assets weren’t performing as well today.
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Impact on the stock market
Sectorial indices performance
- The Nifty FMCG index led the charge with a 1.68% rise, driven by strong performances from heavyweights like Godrej Consumer Products, Dabur India, and Hindustan Unilever. These stocks benefitted from increased consumer demand and strong fundamentals, pushing the sector upwards.
- The Nifty Oil & Gas and Nifty Energy indices also closed in green, reflecting investor optimism in energy-related stocks.
- On the flip side, the Nifty IT, Metal, Bank, Auto, Consumer Durables, and Pharma indices all ended the day lower, with a few companies in these sectors seeing declines of up to 2%.
| Sector/Index | Performance |
| IT & BPM sector | -0.76% |
| Healthcare sector | 0.02% |
| Oil & Gas sector | 0.41% |
| Real estate sector | 0.08% |
| PSU Bank in India | -0.16% |
Top gainers today
| Company | Price (in ₹) | Change % |
| HUL Share Price | 2,410.40 | 3.04 |
| Nestle Share Price | 2,422.10 | 1.22 |
| TATA Cons. Prod Share Price | 1,101.90 | 1.12 |
| Eicher Motors Share Price | 5,682.50 | 0.95 |
| Jio Financial Share Price | 328.05 | 0.95 |
Top losers today
| Company | Price (in ₹) | Change % |
| Bharat Elec Share Price | 417.10 | -2.44 |
| Tech Mahindra Share Price | 1,623.90 | -1.89 |
| ONGC Share Price | 241.52 | -1.52 |
| UltraTechCement Share Price | 12,345.00 | -1.29 |
| Eternal Share Price | 258.55 | -1.09 |
Market aftermath: Impact on stocks
Senco Gold shines after a strong Q1 update
Senco Gold stood out today, with its shares locked in a 5% upper circuit, reaching ₹367 per share after posting a stellar Q1FY26 business update. The company reported a 28% year-on-year revenue growth, largely driven by a 24% rise in retail revenue. This performance was bolstered by the strong demand during regional festivals and the opening of nine new stores. Despite a more than 30% drop in its share price this year, Senco Gold’s positive update has restored some investor confidence in the stock.
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Asian Paints and IOC gain from OPEC+ news
Shares of Asian Paints and Indian Oil Corporation (IOC) rose after a significant announcement from OPEC+, which agreed to hike oil production by 5.48 lakh barrels per day in August. This unexpected increase in oil output caused a drop in oil prices, which is a positive for companies like Asian Paints and IOC, as lower crude oil prices help reduce raw material costs.
After the OPEC+ announcement, Brent Crude futures fell to $67.80 per barrel, while US West Texas Intermediate (WTI) crude dropped to around $66.02 per barrel. The news of this increase in output boosted investor sentiment for oil marketing companies (OMCs) and paint manufacturers, who benefit from lower crude oil prices.
Also read: OMC share price rises with LPG price hike and excise duty increase
Defence stocks see profit-booking
Defence stocks faced a pullback today after a recent rally. Paras Defence, Bharat Electronics Ltd (BEL), and Garden Reach Shipbuilders & Engineers (GRSE) saw significant declines, with Paras Defence leading the losses, down by 7.84%. The Nifty Defence index, which tracks defence stocks, also slipped by over 1%. This drop came after four consecutive sessions of gains, prompting investors to lock in profits. GRSE and BEL also lost ground, declining by 2.15% and 2.03%, respectively.
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Crude oil prices dip amid global trade concerns
The global oil market saw a dip in prices today as US President Donald Trump announced that additional tariffs would be imposed on countries aligning with BRICS policies. This announcement, combined with the larger-than-expected increase in oil production by OPEC+, led to a decrease in crude oil prices. Brent crude futures dropped by 0.73% to $67.80 per barrel, and WTI crude futures fell by 0.72% to $66.02.
The market is also reacting to the potential for further US tariffs on countries like China, Brazil, Russia, and others that are part of BRICS. The heightened trade tensions, coupled with the OPEC+ decision, have led to uncertainty in the oil market, potentially affecting global supply chains.
Conclusion
While the Indian stock market closed with minimal gains, there were some clear sectoral winners and losers. Consumer goods and energy stocks were on the up, while IT, metal, and pharma stocks faced headwinds. Global factors, such as the rise in oil production by OPEC+ and trade tensions sparked by the US’s tariff announcements, are expected to continue influencing market sentiment in the coming weeks.
For investors, this could be a time to stay cautious but also look for opportunities in sectors that stand to benefit from lower crude oil prices and increased demand, such as FMCG and energy stocks.
For more stock market insights, check out the StockGro blog.
