POST-MARKET SUMMARY 8th August 2025
After witnessing a sustainable bounce back from the lows on Thursday, bears made a strong comeback on August 8, dragging Nifty below 24,400 for the first time since May 7, 2025, amid widespread selling across sectors and rising concerns over fresh tariffs from the US.
Among broader indices, the BSE Midcap index shed 1.6%, while the BSE Smallcap index fell 1%. All sectoral indices ended in the red, with metal, realty, pharma, auto, private bank and consumer durables down by 1-2%.
NIFTY: The index opened 54 points lower at 24,544 and made a high of 24,585 before closing at 24,363. Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed at 24,450 while its immediate support is at 24,300.
BANK NIFTY: The index opened 88 points higher at 55,609 and closed at 55,004. Bank Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed around 55,200 while immediate support is around 54,800.
Stocks in Spotlight
▪ Life Insurance Corporation: Stock jumped over 3% after the company reported a 5% rise in net profit and expressed confidence in achieving double-digit growth in the bottom-line in FY26.
▪ Coforge: Stock fell nearly 6% after the company’s key client, Sabre Corp, plunged 35% on the Nasdaq overnight following a lackluster quarterly report.
▪ PG Electroplast: Stock plummeted 20% after the company revised its FY26 revenue growth forecast, now expecting sales of Rs 5,700–5,800 crore, implying a growth of 17–19%, down sharply from its earlier projection of Rs 6,345 crore, or 30.3% growth.
Global News
▪ European stocks edged higher on Friday, driven by strong corporate earnings and a notable jump in Novo Nordisk shares, positioning them for their largest weekly gain in twelve weeks.
▪ Oil prices saw a slight increase on Friday but were on track for the steepest weekly losses since late June, weighed down by concerns over a tariff-hit economic outlook and the potential meeting between U.S. President Donald Trump and Russian President Vladimir Putin.
▪ U.S. gold futures surged to a record high on Friday, following reports that Washington had imposed tariffs on imports of 1 kg bullion bars, which widened the gap between New York futures and spot prices.
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