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Trendlyne Marketwatch
01 Sep 2026
Market closes lower amid rising oil prices, selling in auto, pharma and banking stocks
By Trendlyne Analysis

 

Nifty 50 closed at 24,055.80 (-24.6, -0.1%), BSE Sensex closed at 76,944.28 (-13.0, 0.0%) while the broader Nifty 500 closed at 23,339.90 (-110.5, -0.5%). Market breadth is in the red. Of the 2,826 stocks traded today, 1,043 were gainers and 1,720 were losers.

Indian indices closed lower amid rising crude oil prices and weakness in auto, pharma and banking stocks. The Indian volatility index, Nifty VIX, closed flat at 11.2 points. India’s Manufacturing Purchasing Managers’ Index (PMI) declined to 52.8 in August from 53.5 in July, marking its third consecutive monthly fall. The slowdown reflected weaker growth in output, new orders and exports, as companies reported softer demand and a slower rise in new business.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty200 Alpha30 and Nifty MidSmall Financial Services are among the top index losers today. According to Trendlyne’s sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 3.3%.

Asian markets closed mixed. European markets traded with varied trends. US index futures traded lower. Investors await the US ISM Manufacturing PMI for August and July JOLTS job openings data, due later today, for cues on factory activity and the labour market. Meanwhile, Brent crude oil futures traded near $92 per barrel as renewed US-Iran hostilities raised concerns over Middle East supply disruptions.

  • Relative Strength Index (RSI) indicates that stocks like Cyient and Divi's Laboratories are in the overbought zone.

  • Ujjivan Small Finance Bank is falling sharply as its Managing Director (MD) and Chief Executive Officer (CEO), Sanjeev Nautiyal, seeks early retirement due to health concerns, effective September 1. The board appoints Carol Furtado as the MD & CEO, subject to RBI approval.

  • Sun Pharma is falling after agreeing to extend Most Favored Nation (MFN) pricing to US state Medicaid programmes and future innovative medicine launches. In return, the US government will delay Section 232 tariffs on its innovative pharmaceutical products for over two years. The US contributes around 27% of the company’s global revenue.

  • Sudarshan Chemical Industries' subsidiary, Sudarshan Germany Horizons, enters an agreement to sell a 100% stake in VP4 Frankfurt for €76.5 million (~Rs 841.8 crore) to focus on its core pigment business.

  • United Breweries (UBL) plans to invest Rs 110 crore in a new canning line at its Ellora Brewery in Chhatrapati Sambhajinagar, Maharashtra, to expand manufacturing capacity and meet rising demand for canned beer. The new line is expected to become operational in September 2026, subject to statutory approvals. It will be the first canning line at the Ellora brewery, with a production capacity of 40,000 cans per hour.

  • Religare Enterprises is rising sharply as Superstar Investor Ashish Dhawan buys 36 lakh shares worth Rs 85.3 crore through bulk deals at an average price of Rs 237 per share.

  • IndiGo and SpiceJet are falling after aviation turbine fuel prices rose 5.5% for the second straight month. ATF now costs Rs 121.3 per litre, up from Rs 115. Fuel accounts for nearly 40% of an airline’s operating costs, making the hike a pressure point for margins.

  • EPL is falling sharply as 9.2 crore shares worth Rs 2,253 crore reportedly change hands in multiple block deals at an average price of Rs 246 per share. Blackstone-owned Epsilon Bidco reportedly planned to sell up to 8.5 crore shares.

  • A five-member Bench of the National Company Law Tribunal (NCLT) stays the August 25 order issued by a smaller Bench in the personal insolvency case involving Zee Group founder Subhash Chandra. The larger Bench observes that the earlier orders do not reflect a clear majority view and decides to hear the matter afresh, issuing notices to all parties. It also bars Chandra from directly or indirectly transferring or disposing of any property while the proceedings are ongoing.

  • Bajaj Auto soars to its 52-week high of Rs 12,470 per share as total wholesales grow 28% YoY to 5.4 lakh units in August, led by strong demand in the domestic and export markets. Two-wheeler sales jump 30%, while commercial vehicle sales increase by 22% during the quarter.

  • Mahindra & Mahindra is rising as its sales jump 42% YoY to 1.1 lakh units in August, driven by strong demand for its SUV lineup. Passenger vehicle sales climb 50%, while commercial vehicle sales increase 22%.

  • Tribhovandas Bhimji Zaveri surges to its 20% upper limit after Chennai-based GRT Jewellers agrees to acquire a 74.1% controlling stake from its promoters for up to Rs 1,033.7 crore. The transaction will also trigger a mandatory open offer for an additional 26% stake.

  • India’s manufacturing PMI declines to a five-year low of 52.8 in August, down from 53.5 in July, marking its third consecutive monthly decline. The slowdown was broad-based, with output and new orders expanding at their weakest pace since August 2021. Companies pointed to weaker demand and a slower rise in new business, while growth in export orders also eased compared with July.

  • Gold stocks like Kalyan Jewellers, Titan and Thangamayil Jewellery are falling after PM Narendra Modi appeals to Indians from refraining to buy gold.

  • Skyways Air Services' shares debut on the bourses at a 10.1% discount to the issue price of Rs 138. The Rs 582.8 crore IPO received bids for 71.3 times the total shares on offer.

  • Symbiotec Pharmalab’s shares make a flat debut on the bourses at Rs 988. The Rs 1,757 crore IPO received bids for 71.3 times the total shares on offer.

  • VST Tillers Tractors falls to a fresh 52-week low of Rs 4,264.5 after it reports a 17.3% YoY decline in net sales to 3,720 units in August.

  • Hy-Tech Engineers' shares debut on the bourses at a 41.5% premium to the issue price of Rs 53. The Rs 135.7 crore IPO received bids for 244.4 times the total shares on offer.

  • Concord Biotech is rising as DSP Mutual Fund acquires 12.9 lakh shares worth Rs 180.9 crore through a bulk deal at an average price of Rs 1,404.1 per share. 1575773 Ontario sells the shares.

  • NLC India rises as its subsidiary, NLC India Renewables, forms a 51:49 joint venture (JV), NIRL OREDA Renewables, with Odisha Renewable Energy Development Agency (OREDA) to develop renewable energy (RE) power plants. Separately, NLC emerges as the preferred bidder for the Govindpur Vanadium and Parvathapur Vanadium titanium & aluminium laterite blocks in Telangana.

  • India’s GDP grows 7.8% in Q1FY27, beating analyst expectations and showing resilient growth despite global headwinds. The stronger print prompts several global brokerages to turn more positive on India’s outlook, while also pointing to a potential shift in the interest-rate cycle. Bank of America says the economy has retained momentum despite the oil shock and now expects FY27 GDP growth to stay above 7%. It believes that the RBI could move towards a more hawkish stance in October.

  • Happiest Minds Technologies is falling sharply as its founder & promoter, Ashok Soota, enters an agreement to sell his entire 22.1% stake to ITC Infotech for Rs 1,329.7 crore. After the stake sale, the company's board of directors approves its merger with ITC Infotech, aiming to scale up operations with about $1 billion revenue by FY28.

  • NCC is rising as it secures three orders worth Rs 430.2 crore in the buildings division during August.

  • Escorts Kubota is rising as its total tractor sales grow 19.1% YoY to 10,072 units in August. Domestic sales increased 20.5%, while exports fell 0.9%.

  • PVR Inox is rising sharply as its board of directors approves a Rs 300 crore buyback of 20.7 lakh equity shares at a price of Rs 1,450 per share.

  • Nifty 50 was trading at 24,041.15 (-39.3, -0.2%), BSE Sensex was trading at 76,994.11 (36.8, 0.1%), while the broader Nifty 500 was trading at 23,374.35 (-76, -0.3%).

  • Market breadth is balanced. Of the 2,242 stocks traded today, 1,063 were on the uptrend, and 1,096 went down.

Riding High:

Largecap and midcap gainers today include Jindal Stainless Ltd. (735, 4.7%), ITC Ltd. (266.60, 4.3%) and Adani Green Energy Ltd. (1,265, 4.1%).

Downers:

Largecap and midcap losers today include Polycab India Ltd. (8,895.50, -5.8%), One97 Communications Ltd. (1,633.50, -4.9%) and Kalyan Jewellers India Ltd. (573, -4.7%).

Volume Rockets

16 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Caplin Point Laboratories Ltd. (2,720, 8.1%), Engineers India Ltd. (280.70, 7.2%) and Godrej Agrovet Ltd. (652, 6.0%).

Top high volume losers on BSE were Dr. Lal Pathlabs Ltd. (1,899.20, -1.8%) and 360 One Wam Ltd. (1,165.60, -0.8%).

Vardhman Textiles Ltd. (598, 4.5%) was trading at 133.1 times of weekly average. Usha Martin Ltd. (501, 0.4%) and Graphite India Ltd. (733.80, 4.5%) were trading with volumes 11.1 and 8.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

11 stocks made 52 week highs, while 17 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Bajaj Auto Ltd. (12,361, 1.9%), Caplin Point Laboratories Ltd. (2,720, 8.1%) and Ipca Laboratories Ltd. (1,983.50, 0.4%).

Stocks making new 52 weeks lows included - Dabur India Ltd. (384, 0.8%) and Emami Ltd. (377, 3.6%).

8 stocks climbed above their 200 day SMA including Adani Ports & Special Economic Zone Ltd. (1,647.50, 3.4%) and Mphasis Ltd. (2,505.50, 3.2%). 20 stocks slipped below their 200 SMA including KFIN Technologies Ltd. (937.50, -3.4%) and Axis Bank Ltd. (1,258, -3.2%).

 
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