At 11:30 IST, the barometer index, the S&P BSE Sensex, dropped 453.03 points or 0.56% to 80,090.96. The Nifty 50 index declined 157.65 points or 0.64% to 24,417.90.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.77% and the S&P BSE Small-Cap index fell 0.84%.

The market breadth was weak. On the BSE, 1,242 shares rose and 2,521 shares fell. A total of 158 shares were unchanged.

Trump's Tariff:

United States President Donald Trump announced an additional 25% tariff on Indian goods on August 6. This effectively doubles the total import duties to 50%. The decision responds to India's ongoing purchase of Russian oil, which the U.S. believes undermines its sanctions. The new tariffs will come into effect on August 27.

The move is expected to severely impact key Indian export sectors, including leather, chemicals, footwear, gems and jewellery, textiles, and shrimp.

IPO Update:

The initial public offer (IPO) of Highway Infrastructure received bids for 1,94,89,75,561 shares as against 1,60,43,046 shares on offer, according to stock exchange data at 11:27 IST on Wednesday (6 August 2025). The issue was subscribed 121.48 times.

The initial public offer (IPO) of All Time Plastics received bids for 12,10,950 shares as against 1,05,46,297 shares on offer, according to stock exchange data at 11:25 IST on Thursday (7 August 2025). The issue was subscribed 0.11 times.

The initial public offer (IPO) of JSW Cement received bids for 1,58,01,534 shares as against 18,12,94,964 shares on offer, according to stock exchange data at 11:27 IST on Wednesday (6 August 2025). The issue was subscribed 0.09 times.

Buzzing Index:

The Nifty Auto index declined 1.07% to 23,495.20. The index dropped 1.6% in two consecutive trading sessions.

Bharat Forge (down 2.67%), Tata Motors (down 2.26%), Samvardhana Motherson International (down 1.99%), Exide Industries (down 1.59%), Bajaj Auto (down 1.25%), Mahindra & Mahindra (down 1.1%), Eicher Motors (down 1.04%), MRF (down 0.94%), Balkrishna Industries (down 0.93%) and Tube Investments of India (down 0.51%) fell.

On the other hand, Hero MotoCorp (up 0.9%), TVS Motor Company (up 0.15%) and Bosch (up 0.12%) edged up.

Stocks in Spotlight:

Sula Vineyards declined 4.81% after the company's consolidated net profit tumbled 86.7% to Rs 1.94 crore on 9.3% fall in revenue from operations (excluding net excise duty) to Rs 109.64 crore in Q1 FY26 over Q1 FY25.

Trent rose 0.11%. The company reported a 9.45% increase in consolidated net profit to Rs 429.69 crore in Q1 FY26 as against Rs 392.57 crore posted in Q1 FY25. Revenue from operations jumped 18.98% YoY to Rs 4,883.48 crore in the quarter ended 30 June 2025.

Global Markets:

Asian shares advanced on Thursday even as U.S. President Donald Trump vowed to impose a 100% tariff on imports of semiconductors and chips.

However, the companies that are 'building in the United States' would be exempted from the said tariff.

Meanwhile, South Korea posted a record-high current account surplus in June on strong demand for technology exports, central bank data showed on Thursday.

The country's current account stood at a surplus of $14.27 billion, up from $10.14 billion in May. It was reportedly the biggest monthly surplus in the data series dating back to January 1980.

South Korea's trade deal with the U.S. will take a huge burden off monetary policymakers at their upcoming meeting later this month, the country's central bank governor reportedly said on Thursday at his first meeting with the newly appointed finance minister.

The Bank of Korea kept its benchmark interest rate unchanged at 2.50% last month, but a majority of board members signaled another rate cut in the next three months and warned of significant economic uncertainty from the U.S. tariffs. The central bank next meets on August 28.

All three major equity averages on Wall Street finished with gains on Wednesday.

The S&P 500 advanced 0.73% to finish at 6,345.06, while the Nasdaq Composite jumped 1.21%, closing at 21,169.42. The Dow Jones Industrial Average also rose 81.38 points, or 0.18%, to end the day at 44,193.12.

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