Nifty 50 opened at 24,695.80, down 16.30 points (−0.07%) from the previous close of 24,712.05. Bank Nifty started at 54,256.00, lower by 194.45 points (−0.36%) from its previous close of 54,450.45. Sensex opened at 80,754.66, slipping 31.88 points (−0.04%) compared to the previous close of 80,786.54. GIFT Nifty is currently trading at 24,676.50.
Global index as on 28 August 2025
- DOW 30 rose by 147.16 points (+0.32%) to close at 45,565.20, indicating moderate bullish momentum.
- S&P 500 gained 15.46 points (+0.24%) to settle at 6,481.40, showing a steady uptrend.
- NASDAQ advanced by 45.87 points (+0.21%) to end at 21,590.10, reflecting mild buying interest in tech stocks.
- FTSE 100 slipped 10.30 points (−0.11%) to 9,255.50, signaling slight weakness in UK equities.
- DAX declined by 106.66 points (−0.44%) to 24,046.20, marking a notable bearish move in German markets.
- NIKKEI 225 climbed 211.47 points (+0.50%) to 42,731.74, highlighting positive sentiment in Japanese equities.
Commodities Update
- Gold: Currently trading at Rs. 10,245 per gram.
- Silver: Down by Rs. 0.10, now at Rs. 119.90 per gram.
- Crude Oil: Prices have fallen by 0.21%, reaching 66.885, compared to the previous close of 67.035.
Global events/updates
- Trump Tariffs: A 25% additional tariff on Indian exports to the U.S. has come into effect, taking the cumulative tariff imposed by the U.S. on India to 50%
- India and the U.S. are in regular talks to resolve the tariff standoff, after the U.S. imposed a 50% tariff on Indian exports. India had proposed a trade deal in July with 10–13% average tariffs, but its offer remains unchanged with strict red lines on agriculture and dairy.
- The U.S. must decide whether to accept this or push for a bigger deal. Despite tensions, the overall partnership remains strong, with recent 2+2 dialogues and upcoming joint military exercise ‘Yudh Abhyas’ involving 450 Indian defence personnel.
- White House trade adviser Peter Navarro linked Trump’s 50% tariffs on India to geopolitical issues. He said the road to peace in Ukraine goes through New Delhi, and stressed that India and China must stop buying Russian oil. He added that India could get a 25% tariff reduction if it stops Russian oil imports, while countering India’s claim that it doesn’t have the highest tariffs by saying “in fact, they do.”
Stocks to watch
- Interglobe Aviation (IndiGo): Promoters, including co-founder Rakesh Gangwal and the Chinkerpoo Family Trust, plan to sell shares worth ₹7,028 crore through a block deal. The offer price is fixed at ₹5,808 per share, a 4% discount to the previous close of ₹6,050. Up to 1.21 crore shares (3.1% stake) are likely to be offloaded.
- Biocon: The company’s subsidiary has received tentative USFDA approval for Sitagliptin Tablets, used for managing type 2 diabetes mellitus.
- JSW Steel: The company received a certificate confirming the incorporation of its joint venture APJSW Private Ltd with Andhra Pradesh Mineral Development Corp, registered in Vijayawada.
- Jaiprakash Associates: The CCI has approved its acquisition by Adani Group entities.
- Hubtown: The board cleared the amalgamation of Distinctive Realty with Amazia Developers, and also the merger of Nitant Real Estate with Amazia Developers and the company.
- SBI Cards: Signed an agreement with Flipkart to launch a new co-branded credit card.
- BSE: Its subsidiaries BSE Investments and BSE Administration & Supervision will merge with BSE Technologies.
- United Breweries: To invest ₹90 crore in expanding capacity by 0.4 million litres at its Nizam Brewery unit in Telangana.
- Graphite India: Increased its stake in Godi India to 45.76% through participation in a ₹18.65 crore rights issue.
- SMS Pharma: Received an EIR (Establishment Inspection Report) with No Action Indicated status from the USFDA for its central laboratory analytical services in Hyderabad.
- Oil India: Signed a joint venture agreement with BPCL for City Gas Distribution in Arunachal Pradesh.
- Newgen Software: Secured an order worth ₹73 crore for scanning and digitisation services.
NLC India: Announced commercial operation of 52.83 MW solar power capacity in Rajasthan. - Power Grid Corp: Approved implementation of the NERES-XXIII (North Eastern Region Expansion Scheme) at a cost of ₹209.4 crore.
- Tata Steel: Acquired 353 crore shares worth ₹3,104 crore in its subsidiary T Steel Holdings Pte.
- Nazara Technologies Ltd subsidiaries have entered into multiple loan agreements with their UK entities which are Kiddopia Inc signed an unsecured loan pact of up to ₹8.73 crore, Sportskeeda Inc signed one worth up to ₹5 crore, and Nazara Tech (Mauritius) entered into a similar agreement for up to ₹4 crore.
- Zaggie Prepaid: Entered a five-year partnership with Standard Chartered Bank to provide its prepaid payment instruments platform for corporate clients.
- Utkarsh Small Finance Bank: Reported ₹1,241 crore disbursements in its micro banking portfolio with a gross loan book of ₹9,079 crore, while its non-micro banking portfolio saw ₹1,028 crore disbursements and a gross loan book of ₹10,145 crore.
- VIP Industries: Promoters to sell 4.54 crore equity shares to select buyers, triggering an open offer and resulting in a change of control.
- Jaiprakash Power: Considering setting up a 50 MW solar PV plant in Madhya Pradesh.
- Texmaco Rail & Engineering: Approved a joint venture with Rail Vikas Nigam Ltd (RVNL) for rolling stock and rail infrastructure projects.
- HG Infra: Subsidiary achieved financial closure for a ₹781.11 crore road upgradation project in Gujarat, covering 10.63 km on NH 47 between Narol and Sarkhej Junctions.
- G R Infraprojects: Secured an LOI from REC for a transmission system project in Madhya Pradesh with annual charges of ₹3,670.73 million.
- Manappuram Finance: Signed a ₹4,384 crore deal with BC Asia Investments and promoters. BC Asia will subscribe to 9.29 crore shares worth ₹2,192 crore at ₹236 per share, acquiring control and becoming a co-promoter.
- Samvardhana Motherson: Incorporated a new wholly owned subsidiary, Motherson Manufacturing.
- Adani Energy Solutions: Set up a new wholly owned subsidiary named Adani Energy Solutions Step-Fifteen.
Written by Manideep Appana
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