POST-MARKET SUMMARY 28th August 2025

Profit-booking continued for the second consecutive session on August 28, as the benchmark indices fell nearly 1% after the implementation of 50% US tariffs on India. The market opened lower, continuing Tuesday's decline, with Nifty dipping below 24,500 intraday amid broad-based selling. However, buying interest at lower levels, particularly in consumer durables, helped cap the losses.

In the broader market, the BSE Midcap and Smallcap indices fell about 1% each. Sector-wise, all indices ended in the red except for Consumer Durables, which saw a 0.6% rise. The banking, IT, financial services, realty and FMCG sectors all declined by 1% to 1.6%.

NIFTY: The index opened flat at 24,695 and made a high of 24,702 before closing at 24,500. Nifty has formed a long bearish candle on the daily chart. Its immediate resistance level is now placed at 24,550 while its immediate support is at 24,460.

BANK NIFTY: : The index opened 194 points lower at 54,256 and closed at 53,820. Bank Nifty has also formed a long bearish candle on the daily chart. Its immediate resistance level is now placed around 54,250 while critical support is around 53,500.

Stocks in Spotlight

▪ Jaiprakash Power Ventures: Stock surged 5% to hit the upper circuit after the company announced plans to set up a solar power project in Madhya Pradesh, with an estimated investment of Rs 300 crore.

▪ Interglobe Aviation: Stock plunged 5% as the Rakesh Gangwal family likely reduced its stake through block deals. Earlier reports suggested the family intends to sell up to 3.1% of its stake in the company, estimated at about Rs 7,020 crore.

▪ Newgen Software Technologies: Stock gained 0.7% after the company secured a purchase order worth Rs 73.12 crore for a scanning and digitization project.

Global News

▪  Asian equities were modestly higher on Thursday, despite a dip in tech sector stocks after Nvidia's results fell short of analyst expectations, causing its shares to fall in after-hours trading.

▪  Oil prices dropped on Thursday after a rise in the previous session, pressured by expectations of lower U.S. fuel demand at the end of the summer travel season and the restart of Russian supply to Hungary and Slovakia through the Druzhba pipeline.

▪  Gold remained firm near a more-than-two-week peak on Thursday, as the dollar softened. Investors were awaiting Friday’s U.S. inflation data for cues on the Federal Reserve's policy path.

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