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Weekly market wrap: SENSEX gains 405 pts, NIFTY50 up 1% as Hindalco, SBI lead gains; check how broader market fared
6 min read | Updated on August 08, 2026, 10:34 IST
SUMMARY
Among sectors, the NIFTY PSU Bank index emerged as the biggest contributor, rising 5%, followed by NIFTY India Defence, which gained 4.3%.
On Friday, Hindalco Industries posted its April-to-June quarter results for FY27, where the company recorded a 75% YoY increase in overall profits. Image: Shutterstock
The Indian equity benchmark indices ended the week of August 7 in the green, extending their winning streak for the second consecutive week, led by gains in PSU banks following the Reserve Bank of India’s bi-monthly meet and easing geopolitical tensions.
On August 5, the Reserve Bank of India's Monetary Policy Committee (MPC), headed by Governor Sanjay Malhotra, unanimously decided to keep the repo rate unchanged at 5.25% while maintaining its neutral stance in the backdrop of uncertainties about southwest monsoons and El Niño.
Governor Malhotra has also lowered the inflation projection for the current financial year by 10 basis points to 5%. The RBI now expects inflation at 4.7% in the second quarter, 5.9% in the third quarter and 5.5% in the fourth quarter of FY27.
During the week, market trends varied due to a change in the closing price mechanism under the newly implemented Closing Auction Session (CAS). This led to differences in gains and losses for individual stocks, although prices on the National Stock Exchange (NSE) and BSE remained largely similar.
Globally, crude oil prices dropped following reports that US President Donald Trump cancelled military strikes on Iran. Later, on August 6, Iran said it is in the “final stage” of drafting an agreement with Oman over the Strait of Hormuz, and US President Donald Trump has said a deal could be announced this week.
Brent crude prices slipped 7.29% for the week ended August 7 to settle at $82.21 per barrel. The benchmark has risen nearly 13% over the past month.
| NIFTY50 GAINERS | NIFTY50 LOSERS |
|---|---|
| Hindalco Industries (8.7%) | Bajaj Finance (-5.5%) |
| Grasim Industries (7.2%) | Power Grid Corporation (-4.5%) |
| State Bank of India (6.8%) | Max Healthcare Institute (-2.6%) |
| Shriram Finance (6.5%) | HDFC Bank (-2.3%) |
| Eternal (4.1%) | Sun Pharmaceutical (-2.3%) |
Shares of Hindalco Industries rallied during the week after its wholly owned subsidiary Novelis’ net sales for the first quarter of the fiscal year 2026-27 increased by 23% year-on-year (YoY) to $5.8 billion.
On Friday, Hindalco Industries posted its April-to-June quarter results for FY27, where the company recorded a 75% YoY increase in overall profits with major support from Novelis earnings despite cost headwinds in the period. Hindalco’s consolidated net profit surged 75% to ₹7,013 crore in the first quarter of the current fiscal year, in comparison to ₹4,004 crore in the same period a year earlier.
State Bank of India (SBI) reported an improvement in asset quality this week, with non-performing asset (NPA) ratios hitting the lowest in over two decades for Q1 FY27. The country’s largest bank reported a net profit of ₹21,121 crore for Q1 FY27, marking an increase of 10% from ₹19,160 crore in the same period last year.
How the broader market performed this week
During the week, broader markets performed in line with the benchmark equity indices, with the NIFTY Midcap 100 gaining 0.9% while the NIFTY Smallcap 100 outperformed, rising 2.7%.
| NIFTY Midcap 100 GAINERS | NIFTY Midcap 100 LOSERS |
|---|---|
| KEI Industries (12%) | Blue Star (-9.9%) |
| Jubilant Foodworks (11%) | BSE Limited (-5.2%) |
| Exide Industries (8.9%) | UPL Limited (-5.2%) |
| National Aluminium Company (8.8%) | Container Corporation of India (-3.9%) |
| APL Apollo Tubes (8.3%) | LIC Housing Finance (-3.6%) |
KEI Industries reported a 40.05% year-on-year (YoY) surge in its consolidated net profit to ₹274.14 crore in Q1 FY27, compared with ₹195.75 crore in the corresponding period of the previous fiscal year, which was supported by margin expansion.
Meanwhile, air-conditioning and commercial refrigeration system company Blue Star reported a 15.15% YoY decline in its consolidated net profit to ₹102.51 crore in the June quarter of FY27. It had posted a net profit of ₹120.82 crore in the April-June quarter a year ago.
| NIFTY Smallcap 100 GAINERS | NIFTY Smallcap 100 LOSERS |
|---|---|
| Neuland Laboratories (20%) | Nuvama Wealth Management (-8.9%) |
| Devyani International (18%) | Firstsource Solutions (-7.4%) |
| Ather Energy (17.6%) | Narayana Hrudayalaya (-7.1%) |
| Tata Technologies (16.7%) | Inventurus Knowledge Solutions (-6%) |
| Welspun Corporation (11.5%) | Star Health and Allied Insurance Company (-5.2%) |
Shares of Neuland Laboratories had hit a record high of ₹22,188 apiece on August 6 after the firm’s net profit in the April-June period of FY27 jumped over 10-fold, or 962%, to ₹148 crore from ₹14 crore in the same period last year.
Its revenue from operations more than doubled to ₹642 crore compared with ₹293 crore a year earlier.
Further, electric two-wheeler manufacturer Ather Energy shares gained as investors focused on the company reducing its net losses in Q1 FY27 due to strong revenue growth.
Sectoral watch this week
Among sectors, the NIFTY PSU Bank index emerged as the biggest contributor, rising 5%, followed by NIFTY India Defence, which gained 4.3%. NIFTY Metal and NIFTY Auto also surged 3.7% and 3.1%, respectively, while the NIFTY IT index ended the week 2.7% higher.
Meanwhile, NIFTY Media (-3.9%), NIFTY Realty (-1.7%) and NIFTY Private Bank (-0.5%) were the only sectoral losers during the week.
India VIX rose 3.4% this week, indicating a pickup in market volatility amid lingering geopolitical concerns and cautious investor sentiment.
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