Nifty 50 fell for fourth straight session, closing at 24,366. Five top firms lost ₹1 lakh crore in market cap. LEAP India, WeWork saw block deals. Manufacturing export disruption hit earnings.
Market Close: Crude, Geopolitics Weigh
The Nifty 50 fell for a fourth straight session on Friday, closing at 24,366, down 29.85 points or 0.12%. The BSE Sensex declined 70.71 points to 78,009. The index ended the week 0.83% lower. It oscillated within a narrow 100-point band through the session. A modest 10-point recovery during the closing auction limited further damage.
Elevated crude oil prices and escalating geopolitical tensions in West Asia kept sentiment subdued. Wall Street logged record closes overnight. The positive global cue failed to lift Indian markets. Five of the top-10 most valued firms lost a combined ₹1 lakh crore in market capitalisation. TCS suffered the largest single decline of ₹34,263.28 crore.
Block Deals, Earnings in Focus
Institutional activity picked up through block deals. LEAP India saw Capital Group’s SmallCap World Fund and Prudential Assurance Company buy shares worth ₹418.69 crore. WeWork attracted buying from ICICI Prudential Mutual Fund, Motilal Oswal MF/PMS, HDFC Life and Citigroup Mauritius for ₹244 crore. Ariel Way Tenant Ltd sold the same amount. Indigo Paints had HDFC Mutual Fund buy ₹68.16 crore worth of stock. Menon Bearings saw Persistence Capital Fund I buy ₹21 crore. The promoter Menon family sold ₹23.9 crore. Rolex Rings had Mirae Asset Mutual Fund buy ₹16.62 crore.
Southern Petrochemical Industries Corporation (SPIC) reported an 8.7% year-on-year increase in revenue to ₹848.81 crore for the June quarter. Consolidated profit after tax came in at ₹60.18 crore, down from ₹66.71 crore a year earlier. Total income grew 36% YoY to ₹668 crore, with cash profit rising to ₹64 crore from ₹56 crore. Higher depreciation impacted PAT growth. Raw material inflation affected the domestic business, while a lower export mix pressured profitability. Partial price pass-through also trimmed margins.
A manufacturing firm with a ₹655 crore quarterly revenue base reported that its exports were disrupted by a 3–5x surge in shipping costs to certain geographies. Management described it as a logistics issue, not a demand problem. “Underlying export demand remains firm,” the company said. Customers are currently lifting minimum volumes. Conditions have eased since the worst period in April–May. The firm estimated a ₹30–35 crore revenue hit in Q1 but kept its full-year guidance unchanged. Its order book stands near ₹500 crore, split 70% domestic and 30% export. Capacity utilisation was 60–65%, with a target of nearly 100% in the current fiscal year. Management expects stronger EBITDA in the second and third quarters as freight normalises. The shift toward domestic orders may create slight margin pressure, as export business typically carries about 10% higher margins.
Equity mutual fund redemptions rose 40% in July as investors booked profits, with funds reallocated to mid- and small-cap schemes, according to data from the Association of Mutual Funds in India.
Six companies, including Horizon Industrial Parks, aim to raise nearly ₹5,600 crore through IPOs next week.
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