Summary of this article
Sensex tumbled 849 points and Nifty 50 declined 255.70 points
Nifty Midcap 100 fell 1.62 per cent, while Nifty Smallcap 100 plunged 2.03 per cent.
Barring FMCG, all other sectoral indices closed in red.
Domestic equities tumbled on August 26 as investors turned cautious ahead of the US implementing an additional 25 per cent tariff on Indian imports starting August 27.
The Sensex closed 849.37 points, or 1.04 per cent lower at 80,786.54, and the Nifty 50 slipped 255.70 points, or 1.02 per cent to settle at 24,712.05.
The broader market mirrored the benchmarks as the Nifty Midcap 100 and the Nifty Smallcap 100 ended lower by 1.62 per cent and 2.03 per cent, respectively. Nifty 500, representing more than 92 per cent of free-float market cap of all NSE-listed stocks, fell 1.23 per cent. The Nifty Microcap 250, tracking the performance of top 250 stocks beyond Nifty 500 constituents, also closed 1.71 per cent lower.
FMCG Bucks Trend, Financials Lead Losses
All sectoral indices closed deep in the red, except Nifty FMCG, which closed higher by 0.91 per cent, as investors rushed to defensive sectors. Leading the losses, Nifty Realty fell 2.24 per cent, followed by Nifty PSU Bank declined 1.87 per cent, Nifty Pharma dipped 1.67 per cent, and Nifty Metal closed 1.66 per cent lower.
Nifty Oil & Gas and Nifty Energy dropped 1.64 per cent and 1.56 per cent, dragged primarily by heavyweight Reliance Industries amid a decline in crude oil prices.
Nifty Bank, Nifty Private Bank, Nifty Financial Services also fell between 1.25 per cent and 1.35 per cent. Other sectoral indices like Nifty IT, Nifty Auto and Nifty Consumer Durables also ended in the red.
Nifty 50: Top Gainers And Losers
From Nifty 50, Shriram Finance fell 4.03 per cent and Sun Pharma declined 3.35 per cent, emerging as the top losers. Tata Steel, Bajaj Finance, Trent, Bajaj Finserv, Coal India, Reliance Industries, and Adani Ports closed lower between 2 per cent and 3 per cent.
Dr Reddy's Laboratories, Axis Bank, Mahindra & Mahindra (M&M), HDFC Life Insurance, Hindalco, IndusInd Bank, SBI Life Insurance, and Cipla also fell between 1.5 per cent and 2 per cent.
Bucking the trend, Eicher Motors, Hindustan Unilever, Maruti Suzuki India, and ITC rose between 1 per cent and 2.68 per cent, emerging as the top gainers. Nestle India, Tata Consultancy Services (TCS), and Eternal (formerly Zomato), and Hero MotoCorp, were also among the gainers.
Crude Oil Prices Today
Crude oil prices came under pressure after rising nearly 2 per cent in the previous session. Traders turned cautious as they waited for updates on the Russia-Ukraine conflict. Concerns also grew over the possibility of fresh US sanctions on Russia if no truce is made.
The Brent Crude traded 1.52 per cent lower at $67.18 per barrel and the WTI Crude was down 1.70 per cent to $63.70 per barrel, as of the time of filing this report.
Gold Prices Today
Gold price on Multi Commodity Exchange (MCX) rose by Rs 182, or 0.18 per cent to Rs 1,00,806 per 10 grams.
In the international market, COMEX Gold traded flat-to-negative at $3,417.1 an ounce, down $0.4, or 0.01 per cent.
Market Outlook
The US tariff is set to take effect from 12:01 Eastern Daylight Time on August 27 (9:31 AM, August 27 IST). Market participants will be closely tracking for any announcements from officials regarding the same overnight.
On August 27, India’s market will be closed on account of Ganesh Chaturthi.
