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EQUITY
Key gauges end lower for 2nd consecutive day
Sep-08-2026

Indian equity benchmarks ended lower on Tuesday, registering their second day of decline, as rising crude oil prices and the US-Iran hostilities kept risk appetite subdued. Selling in blue-chip stocks ICICI Bank, HDFC Bank and Reliance Industries also dragged the markets lower. 

Some of the important factors in trade:

CII Business Confidence Index strengthens to 66.0 in Q2FY27 as India Inc turns more optimistic: Reflecting India’s strong economic growth and rising optimism across industries, the Confederation of Indian Industry’s (CII) Business Confidence Index (BCI) rose to 66.0 in the second quarter of fiscal year 2026-27 (Q2FY27), its highest level in recent quarters, from 60.8 in the preceding quarter. 

UK recognizes India's Carbon Credit Trading Scheme under carbon tax mechanism: In a significant relief to Indian exporters, the UK has recognised India's Carbon Credit Trading Scheme (CCTS) as a qualifying criterion for pricing relief under its carbon border adjustment mechanism (CBAM). 

NBFCs loans against gold jewellery surge 68.5% in July: The Reserve Bank of India (RBI) in its the periodic data has showed that Non-banking financial companies’ (NBFCs) loans against gold jewellery grew at 68.5 per cent year-on-year in July 2026, continuing a months-long trend of elevated lending against precious metals.

DGFT advances ease of doing business with open API facility for certificates of origin: In a move to promote ease of doing business, the Directorate General of Foreign Trade (DGFT) has enhanced the digital ecosystem for exporters by introducing an Open Application Programming Interface (API) facility for the issuance and verification of Certificates of Origin (CoO) through the Trade Connect e-Platform. 

Global front: European markets were trading mostly in red amid escalating Middle East tensions, and prospects of a rate hike by the European Central Bank hurt sentiment. Asian markets settled mostly lower as investors looked forward to the release of crucial U.S. inflation data this week for additional clues on the Federal Reserve's rate trajectory.

Finally, the BSE Sensex fell 555.23 points or 0.73% to 75,577.58 and the CNX Nifty was down by 144.05 points or 0.61% to 23,635.10.   

The BSE Sensex touched high and low of 76,012.11 and 75,553.35, respectively. There were 9 stocks advancing against 21 stocks declining on the index.            

The top gaining sectoral indices on the BSE were Capital Goods up by 1.30%, Power up by 0.68%, Healthcare up by 0.64%, Industrials up by 0.58% and FMCG up by 0.39%, while Oil & Gas down by 0.64%, Bankex down by 0.63%, Energy down by 0.48%, Realty down by 0.40% and TECK down by 0.32% were the top losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 1.72%, Adani Ports &SEZ up by 1.19%, Hindustan Unilever up by 0.97%, Eternal up by 0.58% and State Bank Of India up by 0.30%. On the flip side, ICICI Bank down by 1.94%, Axis Bank down by 1.70%, Reliance Industries down by 1.37%, Ultratech Cement down by 1.28% and HDFC Bank down by 1.05% were the top losers.

Meanwhile, the Reserve Bank of India (RBI) in its the periodic data has showed that Non-banking financial companies’ (NBFCs) loans against gold jewellery grew at 68.5 per cent year-on-year in July 2026, continuing a months-long trend of elevated lending against precious metals. Gold loan growth stood at 69.3 per cent in June 2026, while the segment had recorded a 43.9 per cent year-on-year increase in July 2025.  

According to the data, lending to facilitate consumer durable buys also accelerated sharply, rising 51.5 per cent in July 2026 as compared with 46.8 per cent in June and 18.8 per cent in the year-ago period. The sustained rise in gold prices over the past few quarters has made the entire lending ecosystem more comfortable with the segment as there are better returns with high-value security, which also has an emotional value. However, some concerns have emerged over the shift away from asset-creation and the higher propensity to borrow for consumption-related expenses.

Data further stated that the housing loans segment for NBFCs, including housing finance companies (HFCs), grew 11.9 per cent on-year in July 2026, up from 11.4 per cent in June and 4 per cent in July 2025. Vehicle loan segment for NBFCs recorded 15.1 per cent growth in July, as against 15.3 per cent in July 2025 and 15.2 per cent in June 2026. The overall retail credit for NBFCs and HFCs put together grew 21.4 per cent in July 2026. However, growth in loans to the services sector moderated to 15.2 per cent in July 2026 from 24.5 per cent in July 2025 and 17.6 per cent in June this year. Loans to the industry segment grew 7.4 per cent in July 2026, down from 9.3 per cent in the year-ago period but higher than the 6.7 per cent in June this year.   

CNX Nifty touched high and low of 23,758.95 and 23,623.10, respectively. There were 17 stocks advancing against 31 stocks declining, while 2 stock remain unchanged on the index.

The top gainers on Nifty were Bharat Electronics up by 1.62%, Hindustan Unilever up by 1.02%, Eicher Motors up by 0.98%, ONGC up by 0.98% and Adani Ports &SEZ up by 0.93%. On the flip side, SBI Life Insurance down by 2.04%, ICICI Bank down by 1.97%, Axis Bank down by 1.67%, Ultratech Cement down by 1.49% and Larsen & Toubro down by 1.32% were the top losers. 

European markets were trading mostly in red; France’s CAC fell 8.75 points or 0.11% to 8,297.40 and Germany’s DAX lost 42.53 points or 0.16% to 25,964.00, while UK’s FTSE 100 increased 0.71 points or 0.01% to 10,822.84.

Asian markets settled mostly lower on Tuesday ahead of the release of crucial US inflation data this week and amid concerns over a possible US Federal Reserve interest rate hike this month. Spike in crude oil prices weighed on market sentiments with Brent crude prices surging past $98 a barrel mark following an extended Middle East conflict after Iran threatened to retaliate against any new US attacks on its assets and Saudi-led coalition forces vowed a resolute response to a wave of attacks from Houthi rebels. However, renewed optimism over artificial intelligence investment and strong memory-chip demand continued to support semiconductor shares. Meanwhile, Japanese market fell as the yen extended its advance against the US dollar to its strongest level since February followed by rising expectations of a Bank of Japan interest-rate hike next week.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,940.55

7.85

0.20

Hang Seng

25,317.18

-95.94

-0.38

Jakarta Composite

6,686.44

66.77

1.00

KLSE Composite

1,714.40

-0.39

-0.02

Nikkei 225

65,269.33

-1,130.51

-1.70

Straits Times

5,767.45

-24.83

-0.43

KOSPI Composite

6,954.52

-40.87

-0.58

Taiwan Weighted

47,105.78

-220.49

-0.47
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