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India Market Recap

Indian equity benchmarks witnessed a volatile trading session on Thursday, fluctuating between gains and losses before ending with modest gains. Strength in heavyweight stocks such as Reliance Industries and State Bank of India (SBI) helped offset weakness in Bharti Airtel, Bajaj Finance, and Power Grid. The BSE Sensex rose 373.76 points, or 0.48%, to close at 78,954.76, while the NSE Nifty 50 edged up 11.35 points, or 0.05%, to settle at 24,636.00. On the technical front, Nifty support is placed in the 24,400–24,500 range, while resistance is seen between 24,700 and 24,800.

US Market Recap

Wall Street traded on a mixed note on Thursday as weakness in semiconductor and technology stocks capped broader market gains. The Nasdaq Composite slipped 0.07% to 26,345.93, pressured by selling in chipmakers, while the S&P 500 gained 0.10% to 7,730.99. The Dow Jones Industrial Average outperformed, rising 0.15% to 54,432.75, supported by gains in non-technology sectors. Investors remained focused on upcoming economic data and interest rate expectations.

Asian Market Update:

Asian markets traded mixed on Friday as investors assessed higher crude oil prices and awaited the US employment report for fresh clues on the Federal Reserve's policy outlook. Japan's Nikkei 225 declined 0.76%, while Australia's ASX 200 slipped 0.31%. China's Shanghai Composite was marginally lower by 0.03%, whereas South Korea's Kospi outperformed the region with a 0.52% gain.

Commodity Check

Crude oil prices extended their rebound after renewed tensions in the Strait of Hormuz reignited concerns over global energy supplies. Brent crude climbed above $83 per barrel after rallying nearly 4% in the previous session, while US West Texas Intermediate (WTI) traded close to $78 per barrel. The latest gains followed reports that Iran launched attacks on what it described as hostile targets near the Strait of Hormuz, raising fears of fresh disruptions to one of the world's most critical oil shipping routes. Earlier optimism over a potential shipping agreement between Iran and Oman has faded, as reports suggest Tehran intends to restrict access for US and Israeli vessels and impose additional charges on countries it considers hostile. Investors will continue to closely monitor developments in the region, as any escalation could significantly impact global energy markets.

Stocks In News

Deepak Nitrite: Deepak Chem Tech commissioned its MIBK/MIBC plant at Dahej on August 6, 2026. The project involved a capex of about Rs. 735 crore.
Kaveri Seeds: ITAT Hyderabad will hear the company's appeal on November 2, 2026, regarding a Rs. 69.58 crore tax demand for AY24.
Panorama Studios: Panorama Studios Inflight LLP signed an exclusive worldwide airborne rights agreement for the Malayalam film Paisawala.
Reliance Communications: RCOM's Singapore step-down subsidiary has been struck off from the Singapore company registry.
Grasim Industries: Repaid Rs. 750 crore of commercial paper in full on August 6, 2026. Outstanding commercial paper is now nil.
Polyplex Corporation: AGPH's tender offer closed on August 5, 2026, with 162,812,291 Polyplex shares, representing an 18.09% stake, tendered and acquired.
Allied Blenders: Approved expansion at Moradabad, including a 66 million bulk litre distillery by Q1 FY29 and increasing bottling capacity to 13 million cases by Q3 FY28.
GTL Infrastructure: Appointed Jayant Bhimanwar as Whole-time Director.
HG Infra Engineering: Invested Rs. 33.8 crore in H.G. Gujarat BESS Private Limited through a rights issue.
Waaree Energies: Waaree Clean Energy Solutions incorporated WH Clean Mobility Systems on August 4, 2026, to focus on clean mobility solutions.
Kajaria Ceramics: Acquired 44,11,764 CCPS of KBPL from Aravali for Rs. 50 crore on August 6, 2026.
Shivalik Bimetal Controls: Rajeev Ranjan resigned as CFO, effective October 31, 2026.
TVS Motor Company: Launched the TVS iQube in Kenya, becoming the first Indian OEM to introduce a premium electric scooter in Africa.
Persistent Systems: Launched a EUR 81 per share takeover offer for all Nagarro shares. The acceptance period runs until September 17, 2026.
Sandur Manganese & Iron Ores: Approved incorporation of two wholly owned subsidiaries, Royal Sandur Hospitality and Royal Sandur Academy, with initial capital of Rs. 1 crore each.
CESC: Subsidiary Purvah received an LoA from SECI for a 175 MW wind project at a tariff of Rs. 3.85/kWh for 25 years.
Powerica: Received an LoA from SECI for a 100 MW wind project in Gujarat at a tariff of Rs. 3.85/kWh for 25 years.
Coal India: Declared the preferred bidder for the Gadadharpur iron ore block in Odisha, with estimated resources of 288 million tonnes.
J. Kumar Infraprojects: Received an LoA for a Rs. 990.16 crore EPC contract to build a cricket stadium in Bengaluru over 36 months.
HCLTech: Named an OpenAI Advanced Partner.
RailTel: Secured an LoA from North Western Railway for a 4x48F OFC project worth Rs. 37.67 crore, to be executed by August 6, 2027.
Dabur India: Received a US FDA warning letter dated July 24, 2026, for its Silvassa plant. Domestic operations remain unaffected.
Globus Spirits: Closed its QIP and allotted 23.81 lakh shares at Rs. 840 per share, raising about Rs. 200 crore.
Swan Defence and Heavy Industries: NCLT Ahmedabad approved the merger of Triumph Offshore Private Limited with the company. The scheme becomes effective upon filing the order with the Registrar of Companies.
EIH: Deferred the reopening of The Oberoi Grand, Kolkata, to September 2028 due to construction restrictions, structural restoration and expanded renovation work.
Aegis Logistics: Signed a framework agreement with AVTL for a 51,998 MT propane tank at JNPA. The company will receive Rs. 142.5 crore.
SCL: Signed a framework agreement with KCPL for storage tanks worth Rs. 37.17 crore.
CreditAccess Grameen: Promoter CreditAccess India B.V. sold 36,57,500 shares, representing a 2.28% stake, through a block deal on August 6, 2026.
Interarch Building Solutions: Approved a joint venture with ER Steel Inc., Canada, with an initial investment of Rs. 80 crore for the OWSJ business in North America. Approved a 1:5 stock split. Approved raising up to Rs. 250 crore through a QIP..
Grasim Industries: Issued a Letter of Awareness to ICICI Bank for Domsjo Fabriker AB, Sweden, relating to USD 39 million credit facilities. The letter does not create any repayment obligation, guarantee or financial commitment for Grasim.
Prism Johnson: India Ratings upgraded its NCDs and bank loans to IND AA-/Positive. Commercial paper rating reaffirmed at IND A1+.
BLS E-Services: Appointed Ashish Misra as Deputy CEO and Senior Management Personnel with effect from August 6, 2026.
GlaxoSmithKline Pharmaceuticals: Received a tax refund of Rs. 52 crore on August 6, 2026. Interest income of Rs. 42.09 crore will be recognised in the P&L.
Britannia Industries: Appointed Sonny Iqbal as an Additional Independent Director for a five-year term from August 8, 2026.
KSB: Approved a Rs. 40 crore investment to expand the Shirwal plant's capacity by about 20% through a new manufacturing shed, funded via internal accruals.
Healthcare Global Enterprises: Approved an additional investment of up to Rs. 16 crore in wholly owned subsidiary HCG Rajkot Hospitals LLP.
Transrail Lighting: Re-appointed Digambar Chunnilal Bagde as Executive Chairman.
TCI Express: Re-appointed Chander Agarwal as Managing Director.
JSW Energy: ICRA assigned an [ICRA] A (Stable) rating to the debt facilities of JSW Renewable Energy Dolvi Three Limited.
GPT Infraprojects: Wholly owned subsidiary Alcon Builders emerged as the L1 bidder for an Eastern Railway signalling contract worth Rs. 72.5 crore.
Religare Enterprises: Material subsidiary Care Health Insurance allotted Rs. 200 crore of 10% subordinated NCDs.