Market Wrap, August 5: NIFTY50 settles at 24,649, SENSEX falls 308 points; Adani Ports, RIL top losers

The Indian stock market ended lower on Tuesday, August 5, amid corporate earnings and investors turning cautious following US President Donald Trump’s threat to raise tariffs “substantially” on Indian goods over Russian oil purchases.

In a fresh trade threat against India, Trump accused India of buying massive amounts of Russian oil and selling it for big profits. In its reaction, India said it will take all necessary steps to safeguard and promote national interest and that the implications of the tariffs are being examined.

Nifty Oil and Gas was the biggest loser among sectors, while Nifty Auto and Metal were the only gainers on Tuesday. The broader market, however, remained under pressure.

According to exchange data, on Monday, the foreign institutional investors (FIIs) sold equities worth ₹2,566.51 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹4,386.29 crore worth of equities.

Globally, on Wall Street, all three major indices logged their biggest daily percentage rise on Monday as investors ramped up bets for a September interest rate cut by the Federal Reserve after Friday's weaker-than-expected jobs data.

The S&P 500 and Nasdaq had hit a string of record highs recently.

The Dow Jones Industrial Average gained 585.06 points, or 1.34%, to close at 44,173.64; the S&P 500 climbed 91.93 points, or 1.47%, to close at 6,329.94; and the Nasdaq Composite increased 403.45 points, or 1.95%, to settle at the 21,053.58 level.

Tracking the US markets, most of the stocks in Asia were trading higher on Tuesday. Investors were also relieved as oil steadied after a three-day drop.

South Korea's KOSPI gained 1.57%, Japan's Nikkei rose 0.62%, while Hong Kong's Hang Seng was up 0.18%. The Shanghai Composite closed 0.95% higher.

As many as 3,065 stocks traded on the NSE on Tuesday. Out of this, 1,200 advanced and 1,785 declined, while 80 scrips remained unchanged.

This, however, indicates that the market breadth favoured declines.

A total of 50 stocks hit their 52-week highs, while 55 stocks touched their one-year lows. Besides, 79 stocks hit their upper circuit limits, and 62 touched their lower circuit bands on Tuesday.

NSE-listed firms' market capitalisation stood at ₹445.26 lakh crore.

The volatility index India VIX slumped 2.13% to 11.71 levels.

The NIFTY Midcap 100 index slipped 0.39%, ending at 57,206.85 levels, while the NIFTY Smallcap 100 gauge fell 0.16% to settle at 17,864.55 levels.

Adani Ports (-1.94%) was the biggest losing stock after the firm reported its June quarter earnings. Reliance Industries (-1.52%), Infosys (-1.38%), Adani Enterprises (-1.29%) and Cipla (-1.24%) were the other top losers on Tuesday.

On the flip side, Titan (2.02%), IndusInd Bank (1.66%), SBI Life Insurance (1.56%), Maruti Suzuki (1.44%) and Coal India (1.36%) were the biggest-gaining stocks on the 50-share index.

Nifty Auto (0.37%) and Nifty Metal (0.09%) were the only gainers among sectors on Tuesday.

Nifty Oil and Gas declined 0.96% and took the lead among laggards. Nifty Pharma (-0.83%), Nifty FMCG (-0.72%), Nifty IT (-0.48%) and Nifty Realty (-0.46%) were the other sectors that fell the most.