Although losses were limited on Friday (August 29), both benchmark indices extended their losing streak for a third straight session as investor sentiment remained weak, weighed down by higher US tariffs and their potential impact on various sectors.
Despite starting the session on a positive note, continued weakness in select heavyweights erased most of the gains and pushed the markets into losses. The Nifty 50 closed with a drop of 0.3% at 24,426 points, while the S&P BSE Sensex ended 0.34% lower, slipping below the 80K mark to settle at 79,809 points.
The broader markets also ended with losses, as the Nifty Midcap 100 and Nifty Smallcap 100 indices fell over 0.4% each. All major sectoral indices closed lower, barring the Nifty FMCG and Nifty Consumer Durables index. Among the worst hit were Nifty Realty and Nifty Oil and Gas, which declined 1.44% and 1.12%, respectively.
The recent sell-off has led both the Nifty and the Sensex to log their second consecutive monthly drop, with each losing over 1% in August. Sustained outflows from overseas investors have weighed heavily on domestic equities, with FPIs pulling out more than ₹38,590 crore in August so far.
Nineteen Nifty 500 stocks saw losses ranging between 3% and 6%.
Vardhman Textiles emerged as the top laggard, slipping nearly 6% to ₹424.4 apiece. The stock, which had shown strength in recent sessions, failed to sustain momentum and ended August with a 3% decline.
Jindal Stainless followed, dropping 5.4% to ₹762.95 apiece as investors booked profits after an uninterrupted 10-session rally. Meanwhile, IDBI Bank extended its losing streak to a fifth straight session, falling 5% to ₹85.67. It closed August with a 7.55% drop, marking its second consecutive monthly decline. Swan Energy shares also fell 4% to ₹444 apiece.
Extending its bearish run for the fourth session in a row, BSE slipped 3.77% to ₹2,096. For August, it shed 14% of its value, its steepest monthly fall since May 2022.
Among other losers, TBO Tek, Welspun Corp, Asahi India Glass, Motilal Oswal Financial Services, Sobha, Aegis Logistics, and nine more stocks ended with losses of 3%–3.7%.
Granules India, Sammaan Capital lead gainers as select stocks defy market sell-off
Despite the continued market sell-off, some stocks bucked the trend. Granules India emerged as the top performer, rising 5.4% to ₹492 apiece, while Sammaan Capital broke its four-day losing streak and gained 5% to ₹124.
NAVA, CG Power and Industrial Solutions, CreditAccess Grameen, and RBL Bank all closed with gains of over 4%.
Godfrey Phillips India, despite fluctuating between losses and gains, ended the final trading session of August in the green, advancing 3.9% to ₹11,003. The stock also closed the month with a 21% rise, marking its seventh consecutive month of gains.
GE Vernova T&D India was another strong performer, rallying 3.5% to ₹2,779. Meanwhile, HBL Engineering, Colgate-Palmolive, Olectra Greentech, and 20 other Nifty 500 stocks ended the session with gains ranging between 2% and 3.6%.
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