India Market Recap

Indian equity benchmarks traded in a narrow range on Wednesday, oscillating between gains and losses before ending marginally lower amid F&O expiry-related volatility and weak global cues. The NSE Nifty 50 slipped 8.35 points, or 0.03%, to close at 23,987.60, while the BSE Sensex declined 69.86 points, or 0.09%, to settle at 76,765.92. Investors remained cautious amid mixed global sentiment and ahead of key macroeconomic events. On the technical front, Nifty support is placed in the 23,700–23,800 range, while resistance is seen between 24,250 and 24,350.

US Market Recap

Wall Street ended on a mixed note overnight as gains in blue-chip stocks offset continued weakness in technology shares. The Dow Jones Industrial Average surged more than 500 points, extending its winning streak to a third consecutive session, supported by easing oil prices earlier in the week. However, the Nasdaq Composite declined for a fifth straight session as persistent selling in semiconductor stocks weighed on technology shares. In early Asian trading, S&P 500 futures edged slightly higher, Nasdaq-100 futures were broadly flat, while Dow Jones futures slipped around 38 points. Investors remain focused on the upcoming US Federal Reserve policy decision and geopolitical developments in the Middle East.

Asian Market Update

Asian markets traded mostly lower on Wednesday as renewed concerns over global growth and technology stocks dampened investor sentiment. South Korea's Kospi reversed early gains to fall 5%, while the Kosdaq dropped more than 5%. Japan's Nikkei 225 declined 1.37%, and the Topix slipped 0.31%. In contrast, Hong Kong's Hang Seng Index outperformed with a 1.4% gain, while China's CSI 300 eased 0.73%.

Commodity Check

Crude oil prices rebounded sharply on Wednesday after three consecutive sessions of heavy losses, as renewed military tensions in the Middle East revived concerns over potential supply disruptions. Brent crude climbed more than 3% towards $87 per barrel, recovering part of the nearly 16% decline recorded over the previous three sessions. US West Texas Intermediate (WTI) also advanced to trade near $83 per barrel. The rebound followed reports that the US military intercepted an attempted Iranian attack on American forces in the Middle East, renewing fears that geopolitical tensions could escalate and disrupt global energy supplies.

Stocks In News

• Dynacons Systems & Solutions: Secured a Rs 267.58 crore contract from NPCI for data centre augmentation, including enterprise server infrastructure and seven years of support and warranty.
• The Orissa Minerals Development Company: The Expert Appraisal Committee recommended environmental clearance for the Belkundi Iron & Manganese Ore Mine, with a production capacity of 1.8 MTPA of iron ore and 0.3 MTPA of manganese ore, subject to specified conditions.
• Oil and Natural Gas Corporation: The board approved providing a $500 million parent company guarantee in favour of Saudi Aramco on behalf of subsidiary MRPL to facilitate crude oil imports from Sept. 1, 2026, to Aug. 31, 2028.
• RailTel Corporation of India: Secured a Rs 43.90 crore work order from the AIG of Police, Odisha, for deploying 170 IT, cyber forensics, and finance and accounts experts for Odisha Police. The project is to be completed by Aug. 30, 2029.
• Power Finance Corporation: Subsidiary PFC Consulting incorporated Benchigere Transmission as a special purpose vehicle for the 400 kV Benchigere transmission project in Karnataka. The SPV will be transferred to the successful bidder after the bidding process.
• NTPC: The government extended the tenure of CMD Gurdeep Singh by six months from Aug. 1, 2026, or until a regular incumbent assumes charge, whichever is earlier.
• Dalmia Bharat: Subsidiary Dalmia Cement (Bharat) was identified as the successful resolution applicant for Bhilai Jaypee Cement and received the letter of intent.
• Larsen & Toubro: The board approved the merger of wholly owned subsidiary L&T Power Development with the company.
• Sumitomo Chemical India: Shareholders approved the promotion of Dr. Suresh Ramachandran to managing director from Sept. 1, 2026, the appointment of Anand Mohan Tiwari as an independent director, and the reappointment of N. Sivaraman as an independent director for a second three-year term.
• Info Edge (India): NCLAT allowed the company's appeal for the proposed amalgamation of four wholly owned subsidiaries with the company.
• Paradeep Phosphates: The board approved setting up a 15,000 MTPA aluminium fluoride manufacturing plant at Paradeep, with an estimated investment of Rs 250 crore.
• Rail Vikas Nigam: Received a letter of acceptance from East Central Railway for a Rs 358.97 crore railway-doubling project between Kundawa Chainpur and Raxaul.
• Lemon Tree Hotels: Signed a licence agreement for a 51-room Keys Select by Lemon Tree Hotels property at Panthpiplai, Ujjain, Madhya Pradesh. The property will be managed by wholly owned subsidiary Carnation Hotels.
• Graphite India: The U.S. Department of Commerce preliminarily imposed a 3.68% countervailing duty on the company's exports of large-diameter graphite electrodes.
• Central Depository Services: Received SEBI approval for the joint venture agreement between subsidiary Centrico Insurance Repository and Shoveltech Solutions, along with a Rs 25 lakh disbursement for developing a minimum viable product.
• Indian Oil Corporation: Paradip Refinery processed 16.35 MMT, commissioned SRU-III and NHGU, while the PX-PTA project neared completion.
• Deccan Gold Mines: Signed an MoU with CSIR-CECRI on research into critical minerals and battery materials on July 28, 2026.
• Grasim Industries: Repaid Rs 750 crore of commercial paper on maturity on July 28, 2026.
• Arkade Developers: Former Chief Sales Officer Amita Singh was booked in an alleged fraud involving the diversion of customer transactions, wrongful brokerage gains, and forged agreements. The alleged wrongful gain was around Rs 2 crore. An FIR has been registered, and the company expects no material business or financial impact.
• Jain Resource Recycling: Unit-II resumed operations from July 27, 2026, except for the fire-damaged shed.
• Tanla Platforms: A subsidiary approved the acquisition of a 100% stake in ValueFirst Middle East FZC for Rs 148.52 crore. The transaction is expected to be completed by Q2 FY27.