| The key equity benchmarks traded with major cuts in the morning trade as Brent crude surged to $110 per barrel amid an escalation in the Middle East conflict, prompting investors to flee risk assets. India remains particularly vulnerable to higher oil prices. The Nifty traded tad below the 23,300 level. Realty shares extended losses for the sixth consecutive trading session.
At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 538.70 points or 0.72% to 74,367.44. The Nifty 50 index lost 179.35 points or 0.76% to 23,298.45.
In the broader market, the BSE 150 MidCap Index fell 0.94% and the BSE 250 SmallCap Index shed 0.92%.
The market breadth was weak. On the BSE, 1,146 shares rose and 2,669 shares fell. A total of 228 shares were unchanged.
India to Hold 18th BRICS Summit on 12-13 September:
India assumed the BRICS presidency for 2026, its fourth after 2012, 2016 and 2021, and will host the 18th BRICS Summit in New Delhi on 12-13 September 2026 under the theme "Building for Resilience, Innovation, Cooperation, and Sustainability." During its chairship, more than 350 meetings and high-level engagements have been held across 25 Indian cities, with the agenda focusing on practical cooperation in areas including agriculture, healthcare, digital technology, energy, urban infrastructure, MSMEs, startups, logistics, global value chains, and customs. Key initiatives include the BRICS Startup Innovation Fund, MSME Cooperation Portal, Digital Agriculture Network, Smart Grids and Energy Storage platform, Urban Mobility Hub, and Logistics Supply-Chain Cooperation Framework.
Buzzing Index:
The Nifty Realty index fell 3.69% to 839.90. The index tanked 8.6% in the six consecutive trading sessions.
Godrej Properties (down 6.68%), Lodha Developers (down 6.31%), Prestige Estates Projects (down 4.52%), Aditya Birla Real Estate (down 4.12%), Oberoi Realty (down 3.96%), DLF (down 3.66%), Anant Raj (down 2.91%), Brigade Enterprises (down 2.88%), Phoenix Mills (down 2.65%) and Sobha (down 2.47%) fell.
Stocks in Spotlight:
Shankesh Jewellers rallied 3.68% after the company reported a 100.14% surge in consolidated net profit to Rs 43.23 crore in Q1 FY27 compared with Rs 21.60 crore in Q1 FY26.
Milky Mist Dairy Food rose 4.99% after the company said that it has commissioned skyr and greek yogurt manufacturing plant using ultrafiltration technology at its integrated manufacturing facility in Perundurai, Tamil Nadu. |