The Indian stock markets ended trading on Thursday on a muted note. The BSE Sensex settled the session just under 80,600, climbing more than 50 points, while the NSE Nifty50 closed the day a little over 24,600, inching down 3 points.
On the 30-share Sensex, Eternal, Infosys, Asian Paints, HDFC Bank, and Bajaj Finserv settled the day in green. Meanwhile, the laggards included Tata Steel, Tech M, Adani Ports, BEL, and UltraTech Cement.
In the broader markets, the Nifty Microcap250 closed the session 0.82 per cent lower. Sectorally, the Metal index crashed 1.39 per cent, while the Consumer Durables index jumped 0.75 per cent.
Investors remained wary as markets awaited the outcome of the upcoming meeting between Trump and Putin. Notably, Dalal Street witnessed a choppy start today morning, with volatility keeping investors on edge. The Sensex opened above the 80,650 mark, adding over 100 points in early trade, while the Nifty50 hovered just under 24,650, up 25 points by 9:15 AM. The GIFT Nifty was down 17 points at just under 24,700 as of 9 AM.
Trump-Putin Meeting, S&P Global's Credit Rating Upgrade
The upcoming meeting between US President Donald Trump and Russian President Vladimir Putin is being closely watched by global markets, as it could influence energy prices and possibly lead to a relaxation of sanctions on Moscow.
In a major development for India, S&P Global Ratings has upgraded the country’s sovereign credit rating to ‘BBB’ with a stable outlook — the first such improvement in nearly 19 years. The agency cited India’s strong economic momentum, government commitment to fiscal consolidation, and supportive monetary policy aimed at containing inflation. S&P noted that the quality of public expenditure has improved over the past five to six years and reaffirmed that India remains one of the world’s best-performing economies.
Addressing concerns over the recent hike in US tariffs, S&P said the impact on India’s economy would be limited. Even if a 50 per cent tariff on exports to the US were implemented, it would not materially slow growth, given India’s relatively low dependence on trade and the fact that around 60 per cent of its GDP is driven by domestic consumption.
WPI Inflation, Foreign Flows
On the macroeconomic front, wholesale price inflation eased to a two-year low of (-) 0.58 per cent in July, remaining in deflationary territory for the second straight month. This was largely due to a decline in food and fuel prices, according to government data released on Thursday.
In commodities, the global benchmark Brent crude rose 0.53 per cent to $65.92 a barrel. Meanwhile, market data showed that Foreign Institutional Investors (FIIs) sold equities worth Rs 3,644.43 crore on Wednesday, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 5,623.79 crore.