The Nifty settled below the 24,800 level after hitting the day's high of 24,935 in afternoon trade. Oil & gas, pharma and metal shares corrected, while FMCG and media shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 296.28 points or 0.36% to 81,185.58. The Nifty 50 index lost 86.70 points or 0.35% to 24,768.35.

In the broader market, the S&P BSE Mid-Cap index slipped 0.70% and the S&P BSE Small-Cap index declined 0.85%.

The market breadth was negative. On the BSE, 1,603 shares rose and 2,415 shares fell. A total of 135 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.01% to 11.54.

New Listing:

Shares of Brigade Hotel Ventures were at Rs 84.40 on the BSE, representing a discount of 5.11% compared with the issue price of Rs 90.

The scrip was listed at Rs 82, exhibiting a discount of 8.89% to the issue price.

The stock has hit a high of Rs 87.80 and a low of Rs 81.49. On the BSE, over 21.35 lakh shares of the company were traded in the counter.

IPO Update:

The initial public offer (IPO) of Aditya Infotech received bids for 1,02,88,40,340 shares as against 1,12,23,759 shares on offer, according to stock exchange data at 15:30 IST on Thursday (31 July 2025). The issue was subscribed 91.67 times.

The initial public offer (IPO) of Laxmi India Finance received bids for 1,98,62,952 shares as against 1,13,12,816 shares on offer, according to stock exchange data at 15:30 IST on Thursday (31 July 2025). The issue was subscribed 1.76 times.

The initial public offer (IPO) of National Securities Depository received bids for 15,48,02,700 shares as against 3,51,27,002 shares on offer, according to stock exchange data at 15:30 IST on Thursday (31 July 2025). The issue was subscribed 4.41 times.

The initial public offer (IPO) of M&B Engineering received bids for 2,32,76,748 shares as against 97,98,309 shares on offer, according to stock exchange data at 15:30 IST on Thursday (31 July 2025). The issue was subscribed 2.38 times.

The initial public offer (IPO) of Sri Lotus Developers and Realty received bids for 32,64,72,500 shares as against 3,96,58,730 shares on offer, according to stock exchange data at 15:30 IST on Thursday (31 July 2025). The issue was subscribed 8.23 times.

Buzzing Index:

The Nifty Oil & Gas index fell 1.48% to 11,262.25. The index delined 1.60% in two consecutive trading sessions.

Mahanagar Gas (down 3.84%), Adani Total Gas (down 3.37%), Gujarat State Petronet (down 2.49%), Bharat Petroleum Corporation (down 2.3%), Indian Oil Corporation (down 2.29%), Hindustan Petroleum Corporation (down 1.83%), Gujarat Gas (down 1.78%), GAIL (India) (down 1.6%), Reliance Industries (down 1.41%) and Petronet LNG (down 1.32%) declined.

Stocks in Spotlight:

Mahindra & Mahindra shed 0.15%. The company's standalone net profit surged 32% to Rs 3,449.84 crore in Q1 FY26 as against Rs 2,612.63 crore recorded in Q1 FY25. Revenue from operations increased 26.1% year on year (YoY) to Rs 34,083.23 crore in the quarter ended 30 June 2025.

TVS Motor Company rose 0.69%. The company reported a 34.86% increase in standalone net profit to Rs 778.59 crore on 20.36% jump in revenue from operations to Rs 10,081 crore in Q1 FY26 over Q1 FY25.

Tata Steel (TSL) declined 2.70%. The company has reported 97.1% increase in consolidated net profit to Rs 2.164.15 crore in Q1 FY26 from Rs 1,097.94 crore recorded in Q1 FY25. Consolidated revenues for the April ' June 2025 quarter were Rs 53,178 crore, down 2.9% YoY. For the period under review, India revenues aggregated to Rs 31,137 crore, Netherlands revenue added up to Rs 14,619 crore and UK revenue amounted to Rs 6,096 crore.

Hindustan Unilever (HUL) rallied 3.61% after the company's consolidated net profit increased 5.97% to Rs 2,768 crore on 5% jump in revenue from operations to Rs 16,323 crore in Q1 FY26 over Q1 FY25.

Kaynes Technology India soared 10.06% after the company's consolidated net profit jumped 49.96% to Rs 74.61 crore on 33.63% increase in revenue from operations to Rs 673.46 crore in Q1 FY26 over Q1 FY25.

Indraprastha Gas added 0.34%. The compay has reported 11% fall in consolidated net profit to Rs 355.94 crore despite a 11% increase in total net revenue from operations to Rs 3,913.85 crore in Q1 FY26 as compared with Q1 FY25.

Saregama India shed 0.54%. The company's standalone net profit jumped 7.79% to Rs 40.22 crore on 2.53% rise in revenue from operation to Rs 177.35 crore in Q1 FY26 over Q1 FY25.

Relaxo Footwears dropped 6.25% after the company's standalone net profit declined 13.02% to Rs 48.90 crore in Q1 FY26 as against Rs 56.22 crore in Q4 FY25. Revenue from operations shed 5.84% to Rs 654.49 crore in Q1 FY26 over Q4 FY25.

Sagility India hit an upper circuit of 10% after the company's consolidated net profit surged 566.49% to Rs 148.56 crore on a 25.8% jump in revenue from operations to Rs 1,538.94 crore in Q1 FY26 over Q1 FY25.

HEG zoomed 6.67% after the company's consolidated net profit surged 354.99% to Rs 104.83 crore on 7.96% increase in revenue from operations to Rs 616.93 crore in Q1 FY26 over Q1 FY25.

Indus Towers tumbled 5.79% after the company reported 9.8% fall in consolidated net profit to Rs 1,736.8 crore in Q1 FY26 from Rs 1,925.9 crore recorded in Q1 FY25. Revenue from operations, however, increased by 9.1% YoY to Rs 8,057.6 crore in the June'25 quarter.

Global Markets:

European market advanced as investors looked ahead to key German inflation data along with with latest unemployment figures from Germany and EU.

Most Asian markets ended lower after weakness in Chinese economic activity coupled with falling copper prices dampened investor sentiment.

Copper futures witnessed sharp sell-off after Trump said the U.S. will impose a 50% tariff on copper pipes and wiring. The details of the levy, though, fell short of the sweeping restrictions expected and left out copper input materials such as ores, concentrates and cathodes.

China's official NBS Manufacturing PMI dropped to 49.3 in July 2025 from June's three-month high of 49.7, falling short of expectations and marking the fourth consecutive month of contraction in factory activity. It was the steepest decline since January, as output growth slowed, while both new orders and foreign sales saw their sharpest drops in three months.

The Bank of Japan's policy decision remained on investor's radar. Japan's central bank is widely expected to stand pat on short-term interest rates at 0.5% for the fourth consecutive time, when its two-day policy meeting concludes later in the day.

Investors also assessed the U.S.′ blanket 15% tariffs on imports from South Korea. The U.S. President Donald Trump on Wednesday announced that Washington had reached a 'full and complete' trade deal with Seoul, setting blanket tariffs on the country's exports to U.S. at 15%.

The S&P 500 closed lower on Wednesday and gave up its gain from earlier in the session after Federal Reserve Chair Jerome Powell threw some cold water on the prospects of a September rate cut.

The broad market index lost 0.12% to close at 6,362.90. The Nasdaq Composite added 0.15% to 21,129.67, while the Dow Jones Industrial Average fell 171.71 points, or 0.38%, to finish the session at 44,461.28.

The Federal Reserve's rate-setting committee voted 9-2 on Wednesday to hold interest rates steady for the fifth consecutive meeting, with two Fed governors dissenting for the first time in more than three decades.

Fed Chair Jerome Powell's comments after the decision undercut confidence that borrowing costs would begin to fall in September.

The U.S. economic growth rebounded more than expected in the second quarter, but that measurement grossly overstated the economy's health as declining imports accounted for the bulk of the improvement and domestic demand increased at its slowest pace in two and a half years.

The US economy likely grew at an annualized rate of 2.4% in the second quarter of 2025, rebounding from a 0.5% contraction in the first quarter which was the first decline in three years.

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