Markets opened marginally higher today, with the Nifty 50 starting at 24,466.70 from its previous close of 24,500.90 and trading at 24,507.70, up 6.80 points or 0.03 per cent, at 9.45 am. The Sensex opened at 80,010.83 against its previous close of 80,080.57 and was at 80,132.98, higher by 52.41 points or 0.07 per cent, even as concerns over the recent 50 per cent US tariff on Indian exports continued to weigh on investor sentiment.
The modest opening came after Gift Nifty had signaled a flat-to-bearish start, with markets remaining under pressure following the implementation of steep US tariffs on August 27. “Indian equities are set for another cautious session, as Gift Nifty is signalling a bearish-to-flat opening. Markets remain under pressure after the steep 50 per cent US tariff on Indian exports came into effect on August 27,” said Hariprasad K, SEBI-registered Research Analyst and Founder of Livelong Wealth.
The tariff impact has been significant, with the Nifty now trading well below its August 15 levels when Prime Minister Modi had unveiled the ‘Atmanirbharta’ roadmap alongside GST reforms. Market participants are now looking toward the GST Council meeting scheduled for September 3-4 for possible tax cuts that could provide some relief.
Technical analysts remain cautious about the market’s near-term outlook. “Technically, 24,400–24,450 is the crucial support zone. A decisive break below this could extend the fall toward 24,350 and 24,200,” noted Hariprasad K. The much-watched Golden Crossover between the 50-day and 100-day Simple Moving Averages on the daily chart has already been broken, reinforcing bearish sentiment.
Among individual stocks, Trent led the gainers on the Nifty 50, surging 3.15 per cent to ₹5,400.50, followed by ITC which gained 1.62 per cent to ₹407.40. Kotak Mahindra Bank rose 1.60 per cent to ₹1,975.80, while Shriram Finance advanced 1.03 per cent to ₹577.55 and Asian Paints climbed 0.97 per cent to ₹2,513.10.
On the downside, Mahindra & Mahindra was the top loser, declining 2.67 per cent to ₹3,207.20. Bajaj Auto fell 1.17 per cent to ₹8,588.00, Infosys dropped 1.13 per cent to ₹1,483.10, Dr. Reddy’s Laboratories slipped 1.01 per cent to ₹1,247.10, and HDFC Life declined 0.88 per cent to ₹768.55.
Foreign Institutional Investors (FIIs) continued their selling streak, offloading equities worth ₹3,857 crore on Thursday, marking their fourth consecutive day of net selling. However, Domestic Institutional Investors (DIIs) provided strong counter-support with net purchases of ₹6,920 crore. “For the year so far, FIIs have sold shares worth ₹2.01 lakh crore, while DIIs have bought ₹4.92 lakh crore, underlining the domestic liquidity cushion,” analysts noted.
Despite the substantial DII buying, markets remained under pressure. “A significant takeaway from the market trend yesterday is that despite the big buying of ₹6920 crores by DIIs, overwhelming the FII selling of ₹3856 crores, Nifty drifted down by 211 points,” observed Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
The Banking sector also remained weak, with Bank Nifty extending its losing streak for the fifth consecutive session, slipping below the crucial 54,000 mark. “Key support levels are placed at 53,570 (200-day EMA) and 53,480, while resistance is seen in the 54,000–54,450 zone,” said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking.
Market participants are closely watching Reliance Industries’ Annual General Meeting scheduled for 2 PM today, where Chairman Mukesh Ambani may unveil the timeline for what is being termed the “mother of all IPOs.”
In commodities, crude oil futures traded mixed, with November Brent at $67.58, down 0.59 per cent, and WTI October futures at $64.19, down 0.63 per cent. September crude oil futures on MCX were trading at ₹5,640, up 0.37 per cent from the previous close.
Gold continued its upward momentum, touching its highest level in three weeks, while silver reached a five-week peak. Domestically, silver prices posted a historic high, closing above ₹117,000 for the first time.
“Given the prevailing uncertainty and heightened volatility, traders are advised to maintain a cautious wait-and-watch approach, especially in leveraged positions,” advised market experts, suggesting that fresh long positions should be considered only if the Nifty sustains above the 24,700 level.
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Published on August 29, 2025