Indian markets struggled compared to their global counterparts. Downgrades following recent US tariffs hit hard, and lacklustre quarterly results from Indian corporations further dampened market sentiment. Any weakening in the global markets can push the Indian market lower
US stocks ended higher and the Nasdaq notched a record closing high for the second straight day on Friday as technology-related shares, including Apple, gained and as investors were optimistic about potential interest rate cuts.
While the longer term prospects of the domestic facing economy are well supported, it would be prudent to be prepared for some volatility in the near term, after Trump tariffs, said Sandeep Bagla of TRUST Mutual Fund.
Stocks to Watch, 11 August: Stocks like Tata Motors, IDFC First Bank, Manappuram Finance, Power Mech Projects, Entero Healthcare Solutions, Voltas, Siemens, RBL Bank, DCW, Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation will be in focus on August 11.
The ongoing bearish sentiment is expected to prevail in this holiday-shortened week, too, though there is a possibility of initial rebound due to oversold conditions, according to experts.
The BSE Small-cap index slipped nearly 2 percent with PG Electroplast, Kitex Garments, Unichem Laboratories, Morepen Laboratories, Advait Energy Transitions, KR Rail Engineering, Faze Three, Advanced Enzyme Technologies falling between 15-24 percent.
In the remaining part of FY26, the focus remains on domestic-facing sectors, where visibility is better and demand is steadier, said Krishna Appala of Capitalmind PMS.
Chart formation signals a lack of conviction among bulls and a clear dominance of bears at higher levels, said Sudeep Shah of SBI Securities.
Looking ahead, commodity markets moves could be influenced by the outcome of the US-China trade deal, with their 90-day truce deadline approaching on August 12, as well as the potential Trump-Putin meeting.
Niraj Kumar of Generali Central Life Insurance says while there is no immediate domestic catalyst for a sharp correction for India, he believes it is prudent to remain cautious but constructive.
Forex traders said rupee is trading in a narrow range amid extended weakness in the domestic equities and foreign fund outflows may also weigh on the domestic currency.
Gold rate today: Gold's October contracts on MCX hit an all-time high of Rs 1,02,250 per 10 grams today.
Gold futures with October expiry on MCX hit a lifetime high of Rs 1,02,250 for 10 grams
Major Wall Street indexes were mixed on Thursday, with the Dow and S&P 500 ending lower, as European stocks closed at a one-week high on strong financial stocks and hopes of a Ukraine ceasefire.
While Trump has mentioned that he may impose tariffs on pharma and electronic goods sectors, Himanshu Kohli expects that these two sectors may still continue to remain out of the ambit of tariff to maintain supply chain stability and healthcare needs.
Stocks to Watch, 8 August: Stocks like Titan Company, Bharti Airtel, Biocon, Cummins India, BSE, Life Insurance Corporation, KRBL, Metropolis Healthcare, Kalpataru Projects International, Godrej Consumer Products, Kalyan Jewellers, and CE Info Systems will be in focus on August 8.
Gold rate today: Yellow metal's October contracts on the MCX opened at Rs 1,01,361 per 10 grams today.
Given Trump's tariff threats, it’s clear that the US is pressuring India over crude/defense purchases from Russia, but the Indian government remains firm on prioritizing national interest, said Swati Khemani of Carnelian.
Oil held a five-day drop — the longest losing run since May — as investors looked beyond US efforts to punish buyers of Russian crude, while tracking a diplomatic push by President Donald Trump to end the Ukraine war.
Donald Trump Tariffs: On Wednesday, Trump escalated the trade tensions with India while imposing an additional 25 percent tariff -- following the earlier announced 25 percent duty -- on Indian goods, in response to India’s continued purchases of Russian oil and defence equipment.
Stocks to Watch, 7 August: Stocks like Eternal, Hero MotoCorp, Trent, Bharat Forge, BHEL, Lumax Industries, Jindal Stainless, Fortis Healthcare, Datamatics Global, Bajaj Holdings, Cash Ur Drive Marketing, and Renol Polychem will be in focus on August 7.
US stocks ended lower on Tuesday as investors weighed the impact of tariffs after Yum Brands and other companies cited trade duties in their results or outlooks.
On the recent 25% US tariff on India, Raghvendra Nath of Ladderup said if these tariffs were to stick, it may have an impact on the Indo-US diplomatic ties that have improved significantly over the last decade or so.
Stocks to Watch Today, 6 August: Stocks like National Securities Depository, Sri Lotus Developers, M&B Engineering, Bharti Airtel, Britannia Industries, Lupin, Prestige Estates Projects, EIH, Gland Pharma, and HG Infra Engineering will be in focus on August 5.
Gold rate today: Yellow metal's October contracts on the MCX opened at Rs 1,01,133 per 10 grams today.