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Markets continue to trade under pressure in late morning deals
Sep-08-2026

Indian equity indices continued to trade under pressure in late morning deals on account of selling by funds and retail investors. Weak cues from global markets and rising crude oil prices weighed on domestic sentiment. Crude oil prices surged on worries over escalating Mideast tensions after the U.S. and Iran traded strikes over the weekend. Further, depreciation in Indian rupee against dollar also weighed down sentiments. Rupee weakened by 15 paise to 94.71 against the dollar at the Inter-bank Foreign Exchange market on account of increased demand for the American currency from importers and banks. 

Sensex was trading lower with cut of over half percent, while Nifty traded lower with cut of around half percent amid selling in stocks of Reliance Industries, HDFC Bank, ICICI Bank, Bharti Airtel, and Infosys. On the global front, Asian markets were trading mostly in red as traders remained concerned about the Middle East conflict and the spike in crude oil prices which is heightening global inflation and economic growth worries.

The BSE Sensex is currently trading at 75705.59, down by 427.22 points or 0.56% after trading in a range of 75678.64 and 76012.11. There were 10 stocks advancing against 20 stocks declining on the index.

The top gaining sectoral indices on the BSE were Capital Goods up by 1.41%, Healthcare up by 0.66%, Industrials up by 0.60%, Metal up by 0.60% and Power up by 0.55%, while Oil & Gas down by 0.79%, Energy down by 0.70%, Auto down by 0.47%, TECK down by 0.41% and Bankex down by 0.39% were the top losing indices on BSE.

The top gainers on the Sensex were Bharat Electronics up by 2.35%, Adani Ports up by 0.70%, Eternal up by 0.59%, Interglobe Aviation up by 0.58% and Hindustan Unilever up by 0.55%. On the flip side, Mahindra & Mahindra down by 1.43%, Power Grid down by 1.31%, ICICI Bank down by 1.29%, Axis Bank down by 1.23% and Bharti Airtel down by 1.20% were the top losers.

Meanwhile, the Reserve Bank of India (RBI) in its the periodic data has showed that Non-banking financial companies’ (NBFCs) loans against gold jewellery grew at 68.5 per cent year-on-year in July 2026, continuing a months-long trend of elevated lending against precious metals. Gold loan growth stood at 69.3 per cent in June 2026, while the segment had recorded a 43.9 per cent year-on-year increase in July 2025.  

According to the data, lending to facilitate consumer durable buys also accelerated sharply, rising 51.5 per cent in July 2026 as compared with 46.8 per cent in June and 18.8 per cent in the year-ago period. The sustained rise in gold prices over the past few quarters has made the entire lending ecosystem more comfortable with the segment as there are better returns with high-value security, which also has an emotional value. However, some concerns have emerged over the shift away from asset-creation and the higher propensity to borrow for consumption-related expenses.

Data further stated that the housing loans segment for NBFCs, including housing finance companies (HFCs), grew 11.9 per cent on-year in July 2026, up from 11.4 per cent in June and 4 per cent in July 2025. Vehicle loan segment for NBFCs recorded 15.1 per cent growth in July, as against 15.3 per cent in July 2025 and 15.2 per cent in June 2026. The overall retail credit for NBFCs and HFCs put together grew 21.4 per cent in July 2026. However, growth in loans to the services sector moderated to 15.2 per cent in July 2026 from 24.5 per cent in July 2025 and 17.6 per cent in June this year. Loans to the industry segment grew 7.4 per cent in July 2026, down from 9.3 per cent in the year-ago period but higher than the 6.7 per cent in June this year.   

The CNX Nifty is currently trading at 23672.90, down by 106.25 points or 0.45% after trading in a range of 23657.15 and 23758.95. There were 20 stocks advancing against 30 stocks declining on the index.

The top gainers on Nifty were Bharat Electronics up by 2.72%, Hindalco Industries up by 1.44%, Hindustan Unilever up by 1.32%, HDFC Life Insurance up by 0.92% and Adani Ports up by 0.78%. On the flip side, ICICI Bank down by 1.48%, Axis Bank down by 1.22%, Reliance Industries down by 1.21%, Bharti Airtel down by 1.19% and Maruti Suzuki India down by 1.18% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 549.84 points or 0.83% to 65,850.00, Taiwan Weighted lost 220.49 points or 0.47% to 47,105.78, Hang Seng declined 106.12 points or 0.42% to 25,307.00 and Straits Times fell 27.26 points or 0.47% to 5,765.02. However, Jakarta Composite gained 55.28 points or 0.83% to 6,674.95, Shanghai Composite strengthened 10.3 points or 0.26% to 3,943.00 and KOSPI increased 16.48 points or 0.24% to 7,011.87.
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