As per provisional closing data, the S&P BSE Sensex jumped 152.05 points or 0.19% to 78,581. The Nifty 50 index rose 9.75 points or 0.04% to 24,624.65.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.34% and the BSE 250 SmallCap Index added 0.70%.

The market breadth was positive. On the BSE, 2,310 shares rose and 1,923 shares fell. A total of 215 shares were unchanged.

RBI MPC meeting:

The Reserve Bank of India (RBI), at its monetary policy meeting held from 3 August to 5 August 2026, kept the policy repo rate unchanged at 5.25% and retained its 'neutral' policy stance. RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) had unanimously voted to keep the benchmark policy rate unchanged.

The MPC raised its FY27 GDP growth forecast to 6.7% from 6.6% earlier. It projected FY27 CPI inflation at 5%, 10 basis points lower than the previous estimate, while core inflation was expected to average 4.3% during the year. Quarterly CPI inflation projections were placed at 5.3% for Q1, 4.7% for Q2, 5.9% for Q3 and 5.5% for Q4.

Malhotra said the impact of El Nino on the temporal and spatial distribution of rainfall remained a key risk to the inflation outlook. He added that global crude oil prices had continued to witness sharp volatility due to geopolitical developments, clouding the near-term inflation trajectory. While underlying inflationary pressures had remained contained, the risk of second-round effects from higher food, fuel and other input costs feeding into broader inflation had persisted.

The MPC's decision came amid a challenging macroeconomic environment, with the lingering impact of the US-Iran conflict on domestic growth and inflation. However, easing crude oil prices and hopes of a peace deal had improved market sentiment.

Economy:

India's services sector continued to expand in July, but growth slowed sharply, according to the latest HSBC India Services PMI. The Business Activity Index fell to 53.3 in July from 57.4 in June, marking the weakest pace of expansion in 53 months, though remaining above the neutral 50.0 level.

New business inflows also grew at their slowest rate since February 2022, as firms reported softer demand, intense competition, fewer enquiries and delayed orders. However, export demand remained strong, with companies citing increased business from the UAE, UK and US. Among major segments, only Finance & Insurance recorded faster growth in output and sales.

Employment growth improved from June's six-month low, although hiring remained modest. Around 6% of firms increased payrolls, while 92% reported no change. Lower bookings and weak sales also helped companies reduce backlogs at the fastest pace in nearly five years.

Input cost inflation eased to its lowest level since January and a six-month low overall, despite higher fuel, labour, material, technology and transport costs. At the same time, firms raised selling prices at the quickest pace since April.

At the broader level, the HSBC India Composite PMI Output Index declined from 57.1 in June to 54.3 in July, signalling the slowest private-sector growth since March 2022, although employment continued to rise and business confidence remained positive despite slipping to a seven-month low.

New Listing:

Shares of Manipal Health Enterprises ended at Rs 666.70 on the BSE, representing a premium of 13% as compared with the issue price of Rs 590.

The stock debuted at Rs 655, marking a premium of 11.02% to the issue price.

The stock has hit a high of Rs 676.05 and a low of Rs 634.55. On the BSE, over 43.91 lakh shares of the company were traded in the counter.

Initial Public Offer (IPO):

Ardee Industries received bids for 15,03,57,480 shares as against 5,84,22,516 shares on offer, according to stock exchange data at 15:35 IST on 05 August 2026. The issue was subscribed 2.57 times.

The issue opened for bidding on 05 August 2026 and will close on 07 August 2026. The price band of the IPO is fixed between Rs 50 and 53 per share. An investor can bid for a minimum of 281 equity shares and multiples thereof.

Buzzing Index:

The Nifty Metal index rose 1.72% to 13,256.35. The index fell 6.56% in the six consecutive trading sessions.

Hindustan Copper (up 8.42%), Hindustan Zinc (up 6.05%), Vedanta (up 2.97%), Welspun Corp (up 2.97%), JSW Steel (up 2.31%), Hindalco Industries (up 1.96%), NMDC (up 1.9%), Lloyds Metals & Energy (up 1.66%), APL Apollo Tubes (up 1.48%) and Jindal Stainless (up 1.2%) jumped.

Stocks in Spotlight:

Bharti Airtel added 0.79% after the telecom major reported a 41.63% year-on-year (YoY) jump in consolidated net profit to Rs 8,424.29 crore for the quarter ended 30 June 2026 (Q1 FY27) Consolidated revenue from operations increased 18.35% YoY to Rs 58,539.1 crore aided by robust growth across its India and Africa operations.

Protean eGov Technologies declined 7.49% after the company reported a sharp decline in profitability for the quarter ended 30 June 2026, as higher upfront investments and cost inflation weighed on margins. The company reported a 75.43% year-on-year (YoY) decline in consolidated net profit to Rs 5.86 crore in Q1 FY27 from Rs 23.85 crore in the corresponding quarter last year. Revenue from operations, however, rose 19.03% YoY to Rs 250.96 crore, supported by sustained momentum across its core businesses and strong traction in new initiatives.

Castrol India rose 2.36% after the lubricant maker reported strong earnings for the quarter ended 30 June 2026. The company's profit after tax increased 42.5% YoY and 43.6% QoQ to Rs 347.70 crore in Q2 CY2026. Revenue from operations rose 25.0% YoY and 21.1% QoQ to Rs 1,871.47 crore in the quarter ended 30 June 2026.

Ola Electric Mobility rose 7.21% after the company announced its entry into the utility-scale battery energy storage segment by signing its first memorandum of understanding (MoU) for its upcoming Mahashakti platform. The company signed the MoU with Axis Energy, outlining the potential deployment of up to 20 GWh of battery energy storage systems (BESS) by 2032. The agreement also envisages scaling deployments to 5 GWh annually from 2028.

Kalyan Jewellers India declined 4.38%. The company reported a 32.02% increase in consolidated net profit to Rs 348.66 crore on a 45.68% rise in revenue from operations to Rs 10,588.92 crore in Q1 FY27 compared with Q1 FY26.

Snowman Logistics added 4.23% after its standalone net profit jumped 78.74% to Rs 4.54 crore in Q1 FY27, compared with Rs 2.54 crore in Q1 FY26. Revenue from operations rose 78.74% YoY to Rs 117.67 crore in Q1 FY27, compared with Rs 162.69 crore in the year-ago quarter.

Godrej Properties rose 3.19%. The company reported a consolidated net profit of Rs 350.10 crore for the first quarter ended 30 June 2026, marking a 41.66% decline from Rs 600.12 crore recorded in the corresponding quarter of the previous fiscal. The company's total income fell 16.99% YoY to Rs 1,345.04 crore during the quarter, while profit before tax (PBT) declined 44.25% to Rs 479.71 crore.

Oil and Natural Gas Corporation (ONGC) shed 0.99%. The company reported a 112.3% jump in standalone net profit to Rs 17,033.81 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 8,024.23 crore in the corresponding quarter of the previous fiscal. Revenue from operations jumped 45.2% YoY to Rs 46,460.45 crore in the quarter ended 30 June 2026.

Deepak Nitrite added 2.30% after the company reported a strong set of earnings for the quarter ended 30 June 2026, with consolidated net profit more than tripling on the back of robust revenue growth and margin expansion. The company's consolidated net profit surged 207.5% year-on-year to Rs 345.02 crore in Q1 FY27 from Rs 112.20 crore in the corresponding quarter last year.

Revenue from operations increased 36.39% YoY to Rs 2,577.60 crore, driven by healthy growth across its key business segments. Profit before tax (PBT) soared 202.2% YoY to Rs 467.63 crore during the quarter.

Shlipa Medicare zoomed 11.59% after the pharmaceutical company reported a strong set of earnings for the quarter ended 30 June 2026, driven by robust growth in its formulations business The company's consolidated net profit jumped 115.19% year-on-year to Rs 100.88 crore in Q1 FY27 from Rs 46.88 crore in the corresponding quarter last year.

Revenue from operations increased 44.89% YoY to Rs 465.78 crore, reflecting broad-based growth across its API, formulations and biologics businesses.

Global Markets:

European shares advanced on Wednesday as upbeat corporate earnings and lower crude oil prices helped investors look past ongoing geopolitical tensions and mixed economic data.

Eurozone producer prices fell 0.3% MoM in June 2026, marking the first decline in four months, as lower energy prices offset increases in other categories. On a yearly basis, producer price inflation eased to 4.6% from 5.9% in May, reflecting softer cost pressures across the region.

Asian markets ended higher as strong earnings and a resurgence of demand for tech lifted Wall Street to record peaks.

The investor sentiment was further supported by an ongoing slide in oil prices as Qatar said mediators were making progress in efforts to end ⁠the U.S.-Iran war, though details were lacking.

Markets also sharply pared the probability of a September rate hike from the Federal Reserve to 57%, from 67%.

Fed Bank of Kansas City President Jeff Schmid, however, used ⁠a speech on Tuesday to call for tighter policy to help bring inflation back to the central bank's 2% target.

Overnight in the US, the S&P 500 and the Dow closed at record highs on Tuesday, powered by the latest batch of earnings from AI-related companies such as Caterpillar and Palantir that assuaged demand concerns.

The Dow Jones Industrial Average rose 907.47 points, or 1.71%, to 54,085.88, the S&P 500 gained 136.02 points, or 1.79%, to 7,736.52 and the Nasdaq Composite gained 671.10 points, or 2.59%, to 26,584.99.

Palantir Technologies soared 29.5% and recorded its biggest daily percentage gain since February 2024, after raising its annual revenue forecast.

Caterpillar, seen as a bellwether for the global industrial economy, jumped 5.6% after raising its annual revenue growth forecast, as the buildout of AI data centers has fueled demand for its power generation and construction equipment.

Investors have been closely monitoring results from AI-linked companies this earnings season for any signs the massive spending in the space will be justified.

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