Nifty 50 gains 12 points, Sensex up 58 amid S&P sovereign rating upgrade

Broader markets underperformed, with the Nifty Midcap 100 and SmallCap indices closing lower. Sectoral performance was mixed, with financials outperforming while metals and oil & gas lagged. 
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Benchmark indices snapped their six-week losing streak on Thursday, with the Nifty 50 gaining 11.95 points or 0.05 per cent to close at 24,631.30 and the Sensex rising 57.75 points or 0.07 per cent to end at 80,597.66, as markets drew strength from S&P Global’s historic sovereign rating upgrade amid cautious trading ahead of the Independence Day holiday.

S&P Global Ratings raised India’s long-term credit rating to ‘BBB’ from ‘BBB-’ with a stable outlook after nearly 19 years, citing robust economic growth, sustained fiscal consolidation, and policy stability. “S&P projected that India’s real GDP growth would average 6.8 per cent annually over the next three years, reinforcing the country’s economic resilience,” noted Vaibhav Vidwani, Research Analyst at Bonanza.

Technology stocks emerged as the standout performers, with the Nifty IT index surging 1.7 per cent. Wipro led the gainers on Nifty 50, jumping ₹4.85 or 2.01 per cent to ₹246.50, followed by Infosys, which rose ₹21.40 or 1.50 per cent to ₹1,448.00 after announcing plans to acquire a majority stake in an Australian IT firm for over $150 million. HDFC Life gained ₹11.40 or 1.47 per cent to ₹788.00, while Asian Paints added ₹29.80 or 1.19 per cent to ₹2,530.00.

On the losing side, Tata Steel declined ₹4.50 or 2.81 per cent to ₹155.68, leading the laggards. Adani Ports fell ₹18.20 or 1.38 per cent to ₹1,301.40, Hero MotoCorp dropped ₹60.70 or 1.27 per cent to ₹4,708.00, Tech Mahindra slipped ₹18.10 or 1.20 per cent to ₹1,488.20, and Tata Consumer Products declined ₹10.70 or 1.01 per cent to ₹1,045.40.

Broader markets underperform, midcap & smallcap down

Broader markets underperformed, with the Nifty Midcap 100 declining 0.31 per cent to 56,504.25, and the SmallCap indices also ending in negative territory. “Market breadth was decisively negative, with 306 stocks out of the Nifty 500 ending in the red,” observed Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

Sectoral performance was mixed with Nifty Financial Services gaining 0.36 per cent and Bank Nifty rising 0.29 per cent, while Nifty Metal declined 0.9 per cent and Oil & Gas fell 0.7 per cent. “On the trade front, as concerns persist over elevated US tariffs on Indian goods, Indian government is set to have high-level engagements with China and Russia within a single week,” said Siddhartha Khemka from Motilal Oswal Financial Services.

Rupee and gold remain steady amid global caution

The rupee ended marginally lower at 87.54, down 0.10 paise, as it tracked the range-bound moves in the dollar index at 97.83. “Markets remain watchful ahead of Friday’s key meeting between US President Trump and Russian President Putin over possible peace talks on the Russia-Ukraine war. The rupee is expected to trade in the 87.25–88.00 range,” said Jateen Trivedi from LKP Securities.

Gold traded sideways near $3,355 on Comex and ₹1,00,280 on MCX as market participants awaited the crucial US–Russia meeting. “Overall, gold remains positive as long as $3,280 is held. Range for gold is seen between ₹99,000–₹1,01,500,” Trivedi added.

WPI shows disinflation; trade deficit widens

Wholesale price inflation data provided some relief, with July WPI falling to -0.58 per cent compared to -0.13 per cent in June, indicating continued disinflation trends. However, India’s merchandise trade deficit widened sharply to $27.35 billion from $18 billion in June.

FII selling continues; DII buying streak intact

Foreign institutional investors remained net sellers, offloading equities worth ₹3,644 crore on August 13, while domestic institutional investors maintained their buying streak, purchasing ₹5,624 crore worth of equities, marking their 28th consecutive session of buying.

Looking ahead, markets will remain closed on Friday for Independence Day, creating a long weekend. “Global cues will dictate the mood when markets open on Monday as key events are yet to unfold,” said Hariprasad K from Livelong Wealth, with particular focus on the outcome of the Trump-Putin meeting scheduled for Friday in Alaska.

Published on August 14, 2025