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Investor caution was further reinforced after the Reserve Bank of India (RBI) kept the benchmark repo rate unchanged at 5.25% while retaining its neutral monetary policy stance.
Although the RBI expressed confidence in the domestic economy by raising its FY27 GDP growth forecast to 6.7% and lowering its inflation projection to 5.0%, the positive macroeconomic outlook failed to lift market sentiment. Instead, investors remained focused on near-term risks, including heightened market volatility, geopolitical developments, and uncertainty surrounding the impact of the new CAS framework on trading dynamics.
Going forward, market participants are expected to closely monitor the impact of the NSE's Closing Auction Session (CAS) on market liquidity and price discovery, the progress of the ongoing corporate earnings season, and management commentary on sector-specific demand trends. Global developments, including the evolving U.S.-Iran conflict, movements in crude oil prices, energy market dynamics, and other international macroeconomic cues, will also remain key drivers of market sentiment in the near term.
In the week ended on Friday, 7 August 2026, the S&P BSE Sensex shed 139.86 points or 0.18% to settle at 78,499.17. The Nifty 50 index declined 203.65 points or 0.82% to settle at 24,570.65. The BSE 150 Mid-Cap index gained 0.96% to close at 17,240.08. The BSE 250 Small-Cap jumped 1.23% to end at 7,240.15.
Weekly Index Movement:
The benchmark indices ended higher on Monday, extending gains for the fourth consecutive trading session. The rally was driven by a sharp decline in Brent crude oil prices amid easing geopolitical tensions in the Middle East. The S&P BSE Sensex jumped 544.39 points or 0.70% to 78,639.03. The Nifty 50 index rose 390.70 points or 1.60% to 24,774.30. In four consecutive sessions, the Sensex rallied 2.44% while the Nifty jumped 3.29%.
The benchmark indices ended lower on Tuesday, snapping a four-session winning streak as investors booked profits ahead of the Reserve Bank of India's monetary policy decision due on Wednesday. Sentiment remained cautious amid the weekly expiry of Nifty 50 derivatives contracts and increased volatility following the rollout of the NSE's new Closing Auction Session (CAS). The S&P BSE Sensex declined 210.08 points or 0.27% to 78,428.95. The Nifty 50 index fell 159.40 points or 0.64% to 24,614.90. In the past four trading sessions, the Sensex jumped 2.44% and Nifty climbed 3.29%.
The benchmark indices ended higher on Wednesday after the Reserve Bank of India (RBI) kept the repo rate unchanged at 5.25% and retained its neutral policy stance. Investor sentiment was also supported by the RBI raising its FY27 GDP growth forecast to 6.7% and lowering its inflation projection to 5%. The S&P BSE Sensex jumped 152.05 points or 0.19% to 78,581. The Nifty 50 index rose 9.75 points or 0.04% to 24,624.65.
The benchmark indices ended higher in a volatile session on Thursday, extending their gains for a second consecutive session. Sentiment was supported by hopes of a diplomatic breakthrough in the Middle East and a better-than-expected June-quarter earnings season. The S&P BSE Sensex, jumped 373.76 points or 0.48% to 78,954.76. The Nifty 50 index rose 11.35 points or 0.05% to 24,636. In two consecutive sessions, the Sensex rose 1.33% while the Nifty climbed 1.29%.
The key equity indices ended with modest losses on Friday, snapping a two-session winning streak. The benchmarks remained under pressure throughout the session as selling in heavyweight financial stocks outweighed gains in information technology shares. Nifty closed below the 24,600 level. The S&P BSE Sensex declined 455.59 points or 0.58% to 78,499.17. The Nifty 50 index lost 65.35 points or 0.27% to 24,570.65. Over the last two trading sessions, the Sensex gained 0.67%, while the Nifty advanced 0.09%.
CAS for F&O stocks :
Effective 3 August 2026, the Closing Auction Session (CAS) has been introduced for stocks in the F&O segment, revising market closing timings while keeping the opening time unchanged. Continuous trading in F&O stocks will now end at 3:15 pm, followed by the closing auction session, while non-F&O stocks will continue to trade until 3:30 pm. Trading in index and stock futures and options will conclude at 3:40 pm. The new mechanism is aimed at enhancing price discovery for the official closing price, reducing end-of-day volatility, and facilitating transparent execution of large institutional orders.
RBI MPC Outcome:
The Reserve Bank of India (RBI) kept the policy repo rate unchanged at 5.25% at the conclusion of its three-day Monetary Policy Committee (MPC) meeting held from 3 to 5 August 2026.
The six-member MPC unanimously voted to keep the repo rate unchanged. Accordingly, the Standing Deposit Facility (SDF) rate remains at 5.00%, while the Marginal Standing Facility (MSF) rate and the Bank Rate continue at 5.50%. The committee also retained its neutral policy stance.
The RBI revised its FY27 real GDP growth forecast upward to 6.7% from 6.6% projected in the previous policy review. Growth is projected at 7.0% in Q1, 6.4% in Q2, 6.5% in Q3 and 6.8% in Q4, with Q1 FY28 growth estimated at 7.3%. The central bank said domestic demand remains resilient, supported by strong private consumption, investment activity, services exports and government infrastructure spending.
The RBI, however, cautioned that global uncertainty, volatile energy prices, supply chain pressures, geopolitical tensions, and deficient and uneven monsoon conditions due to El Niño continue to pose risks to the growth outlook.
On inflation, the central bank projected CPI inflation at 5.0% for FY27, lower than its earlier estimate of 5.1%. Inflation is projected at 4.7% in Q2, 5.9% in Q3 and 5.5% in Q4, while Q1 FY28 inflation is estimated at 5.3%. Core inflation is projected at 4.3% for FY27.
The RBI said headline inflation is expected to rise mainly because of food and fuel-related supply-side pressures, while core inflation remains moderate. It added that uncertainty over monsoon conditions, global crude oil prices, geopolitical developments and global trade policies warrants caution before any policy action.
The central bank said it will continue to closely monitor incoming data and remain focused on aligning inflation with its medium-term target while supporting economic growth.
Economy:
India's services sector continued to expand in July, although growth slowed sharply, according to the latest HSBC India Services PMI survey. The Business Activity Index fell to 53.3 from 57.4 in June, marking the weakest expansion in 53 months while remaining above the 50-point threshold that separates growth from contraction.
At the broader level, the HSBC India Composite PMI Output Index declined to 54.3 from 57.1, signalling the slowest pace of private-sector expansion since March 2022, even as employment continued to rise and business confidence remained positive despite easing to a seven-month low.
Monthly Auto Sales:
Tata Motors jumped 3.71%. The company has reported a 37% year-on-year (YoY) increase in total commercial vehicle (CV) sales to 39,641 units in July 2026, compared with 28,956 units sold in the same month last year.
Bajaj Auto advanced 1.06%. The company reported a 30% increase in total auto sales to 4,74,677 units in July 2026, compared with 3,66,000 units sold in July 2025.
SML Mahindra slipped 2.34%. The company said that it had sold 1,603 units in July 2026, registering a growth of 12% from 1,427 units sold in the same period last year.
Stocks in Spotlight:
Bharti Airtel shed 0.62%. The telecom major reported a 41.63% year-on-year (YoY) jump in consolidated net profit to Rs 8,424.29 crore for the quarter ended 30 June 2026 (Q1 FY27) Consolidated revenue from operations increased 18.35% YoY to Rs 58,539.1 crore aided by robust growth across its India and Africa operations.
Kalyan Jewellers India declined 0.45%. The company reported a 32.02% increase in consolidated net profit to Rs 348.66 crore on a 45.68% rise in revenue from operations to Rs 10,588.92 crore in Q1 FY27 compared with Q1 FY26.
Oil and Natural Gas Corporation (ONGC) fell 1.98%. The company reported a 112.3% jump in standalone net profit to Rs 17,033.81 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 8,024.23 crore in the corresponding quarter of the previous fiscal. Revenue from operations jumped 45.2% YoY to Rs 46,460.45 crore in the quarter ended 30 June 2026.
Zee Entertainment Enterprises (ZEEL) plunged 18.58%. The Securities and Exchange Board of India (Sebi) passed its final order in the matter relating to the unauthorised pledge of the company's Hyderabad land. Sebi has restrained ZEEL from accessing the securities market for two months and imposed a penalty of Rs 30 lakh. The regulator also barred founder Subhash Chandra and managing director and chief executive officer Punit Goenka from the securities market for 12 months each. It imposed penalties of Rs 60 lakh on Chandra and Rs 58 lakh on Goenka.
Jupiter Life Line Hospitals tumbled 3.67%. The multi-specialty hospital operator reported a decline in earnings for the quarter ended 30 June 2026, as expansion-related costs and higher finance expenses weighed on profitability. The company's consolidated net profit declined 14.59% year-on-year (YoY) to Rs 37.48 crore in Q1 FY27, compared with Rs 43.88 crore in the corresponding quarter last year. Revenue from operations, however, rose 16.44% YoY to Rs 410.98 crore, reflecting sustained patient demand and improved realizations.
Restaurant Brands Asia surged 44.94%. The company reporting a sharp improvement in operating performance for Q1 FY27. The company reported a consolidated net loss of Rs 33 crore in Q1 FY27, narrowing from a loss of Rs 45.40 crore in Q1 FY26. Revenue from operations increased 17.9% YoY to Rs 822.60 crore in the quarter ended 30 June 2026.
Marico shed 0.56%. The company reported a 25% YoY jump in consolidated net profit to Rs 630 crore in Q1 FY27, driven by strong domestic volume growth and robust international business performance. Revenue from operations increased 23% YoY to Rs 3,957 crore in Q1 FY27, supported by 11% underlying volume growth in the India business and 15% constant currency growth in the international business.
State Bank of India (SBI) added 6.74%. The bank’s standalone net profit jumped 10.23% to Rs 21,121.22 crore in the quarter ended 30th June 2026, compared with Rs 19,160.44 crore recorded in the quarter ended 30th June 2025. Total income rose 6.26% YoY to Rs 1,43,819.15 crore,
Global Markets:
The S&P Global UK Services PMI rose to 52.1 in July from 48.8 in June, returning to expansion territory for the first time in three months, although it remained below its long-run average of 54.2. The Composite PMI also improved to 52.2.
In the eurozone, producer prices fell 0.3% month-on-month in June, marking the first decline in four months as lower energy prices offset increases in other categories. On an annual basis, producer price inflation eased to 4.6% from 5.9% in May.
China's exports grew more than expected in July, although the pace moderated from June's robust expansion, supported by strong global demand for high-tech components.
Official customs data released on Friday showed that exports rose 23% year-on-year in U.S. dollar terms in July, easing from 27% growth in June—the fastest pace since October 2021. Imports increased 27.5% from a year earlier, compared with a 36% jump in June, which had marked the strongest growth in five years.
China's trade surplus stood at $112.5 billion in July, narrowing from $125.6 billion recorded in June.
Shares of Life Insurance Corporation of India (LIC) are banned from F&O trading on 5 August 2026.
Earnings to Watch:
Power Grid Corporation of India, Cummins India, PB Fintech, Aurobindo Pharma, Berger Paints India, Biocon, GE Vernova T&D India, Bayer CropScience, Whirlpool of India, Asahi India Glass, Aster DM Quality Care, Bikaji Foods International, Navin Fluorine International, Neuland Laboratories, eClerx Services, Gujarat Narmada Valley Fertilizers & Chemicals, Godrej Agrovet, JK Lakshmi Cement, Garware Technical Fibres, Kirloskar Ferrous Industries, Shree Renuka Sugars, FDC, Shilpa Medicare will declare their quarterly result later today.
Stocks to Watch
Rate-sensitive sectors such as banks, auto, and realty stocks will be in focus as the RBI will announce its policy decision.
Oil & Natural Gas Corporation (ONGC)’s consolidated net profit climbed 21.37% YoY to Rs 1,189.89 crore in Q1 FY27 compared with Rs 980.40 crore in Q1 FY26. Revenue from operations jumped 25.68% to Rs 20,498.73 crore in Q1 FY27, compared with Rs 16,310.3 crore in Q1 FY26.
Bharti Airtel reported 37.32% jump in consolidated net profit to Rs 8,167.4 crore on 18.35% rise in revenue from operations to Rs 58,539.1 crore in Q1 FY27 over Q1 FY26.
Marico reported a 25% YoY jump in consolidated net profit to Rs 630 crore in Q1 FY27, driven by strong domestic volume growth and robust international business performance. Revenue from operations increased 23% YoY to Rs 3,957 crore in Q1 FY27, supported by 11% underlying volume growth in the India business and 15% constant currency growth in the international business.
Sheela Foam has reported a consolidated net profit of Rs 62 crore for Q1 FY27, which is 9.5 times the PAT figure of Rs 7 crore recorded in Q1 FY26. Revenue for the period under review was Rs 1,032 crore, up 26% YoY. The company stated that the mattress volume grew by 6% and in value terms, the segment grew by 15%. The foam business has registered volume growth and value growth of 4% and 26%, respectively.
United Breweries reported 9.54% decline in consolidated net profit to Rs 166.33 crore in Q1 FY27 compared with Rs 183.87 crore in Q1 FY26. Revenue from operations increased 7.07% YoY to Rs 3066.86 crore in Q1 FY27. UBL sell-in volumes were up more than 9% and sell-out volumes were up more than 13% in Q1 FY27.
Kalyan Jewellers India reported 32.03% jump in consolidated net profit to Rs 348.66 crore on 45.68% increase in revenue from operations to Rs 10588.92 crore in Q1 FY27 over Q1 FY26.
FSN E-commerce Ventures (Nykaa) reported 225.95% surge in consolidated net profit to Rs 79.76 crore on 29.1% jump in revenue from operations to Rs 2,782 crore in Q1 FY27 over Q1 FY26. The consolidated gross merchandise value (GMV) grew 34% YoY to Rs 5,590 crore in Q1 FY27.
Bombay Stock Exchange reported 62.03% jump in consolidated net profit to Rs 874.02 crore in Q1 FY27 compared with Rs 539.41 crore in Q1 FY26. Revenue from operations climbed 63.48% YoY to Rs 1566.02 crore in the quarter ended 30th June 2026.
Profit before exceptional items and tax jumped 34.48% YoY to Rs 14,126.2 crore in Q1 FY27. During the quarter, the company recognized an exceptional charge of Rs 353.4 crore towards an in-principle settlement of a commercial dispute involving one of its African subsidiaries.
Consolidated EBITDA rose 19.3% YoY to Rs 33,599 crore, with the EBITDA margin remaining healthy at 57.4%, underscoring the company's operating efficiency despite continued investments in network expansion and digital capabilities.
Mobile data consumption rose 36.0% YoY, reaching 34.4 GB per customer per month
The India business continued to deliver steady growth, with revenue increasing 9.7% YoY to Rs 41,214 crore. The performance was driven by sustained premiumisation in the mobile portfolio, along with strong growth in the Homes and Airtel Business segments.
India mobile revenue grew 9.2% YoY, supported by healthy subscriber additions and higher customer monetisation. Average Revenue Per User (ARPU), a key profitability metric for telecom operators, improved to Rs 264 from Rs 250 a year ago
The Homes segment delivered robust revenue growth of 33.2% YoY, supported by continued expansion of the customer base. The company added 473,000 new customers during the quarter, taking its total home broadband customer base to 14.7 million,
Airtel Business reported a 12% YoY increase in revenue, driven by resilient demand for connectivity solutions and sustained traction in its digital services portfolio. Meanwhile, the Digital TV segment generated revenue of Rs 773 crore and served a customer base of 16 million, with IPTV services continuing to support the company's convergence strategy.
The Africa business also maintained strong momentum, ending the quarter with a customer base of 189 million and delivering 21.1% YoY revenue growth in constant currency terms.
Revenue from passive infrastructure services increased 4.6% YoY, supported by new site rollouts and colocation expansions
Gopal Vittal, executive vice chairman, said: “We delivered yet another quarter of strong performance, supported by the resilience of our diversified portfolio and sharp execution across businesses. Consolidated revenue rose 5.7% sequentially to Rs 58,539 crore with strong growth momentum across India and Africa. India revenue increased 4.2% sequentially while Africa delivered 5.7% constant currency growth. During the quarter, we completed a large and an EPS accretive share swap transaction to increase our stake in Airtel Africa to over 79%. This is a strong reflection of our conviction in Africa’s long-term growth potential and the significant opportunities across our businesses.
India Mobile achieved sequential growth of 3.8%, driven by continued portfolio mix improvement. Our postpaid strategy continues to deliver strong outcomes with highest ever customer additions of 1 million. We added 5 million smartphone customers with an industry leading ARPU of Rs 264
The Homes business saw strong momentum with revenue growth of 4.4% QoQ and 473 K customer additions, underpinned by our focus on quality acquisitions and driving convergence. Airtel Business also delivered 3.2% sequential revenue growth, led by strong performance across the portfolio. Our balance sheet remains strong, reflecting disciplined capital allocation and focused investments to future-proof Airtel.”
Bharti Airtel is a global communications solutions provider with over 650 million customers in 15 countries across India and Africa.
Sterlite Technologies Ltd gained 2.96% today to trade at Rs 623.9. The BSE Telecommunication index is up 1.68% to quote at 3657.34. The index is up 0.11 % over last one month. Among the other constituents of the index, Bharti Airtel Ltd increased 2.22% and HFCL Ltd added 2.07% on the day. The BSE Telecommunication index went up 27.23 % over last one year compared to the 2.05% fall in benchmark SENSEX.
Sterlite Technologies Ltd has added 7.26% over last one month compared to 0.11% gain in BSE Telecommunication index and 0.98% rise in the SENSEX. On the BSE, 6218 shares were traded in the counter so far compared with average daily volumes of 1.5 lakh shares in the past one month. The stock hit a record high of Rs 684.45 on 05 Jun 2026. The stock hit a 52-week low of Rs 84.65 on 27 Jan 2026.
Bharti Airtel announced the successful completion of a comprehensive network enhancement program across Odisha, with a special focus on the Puri Rath Yatra.
Recognizing the significant surge in voice and data traffic during the annual festival, Airtel has proactively strengthened its network infrastructure in Puri, covering all the major road and rail corridors leading to the holy city. These enhancements, all equipped with 5G, have been undertaken to effectively manage the anticipated surge in network demand and ensure uninterrupted voice connectivity alongside high-speed data services during peak crowd movement.
Over the last 12 months, the company has deployed more than 1,500 new 5G sites across the state, significantly strengthening its network footprint across 30 districts and enabling reliable high speed connectivity for over 11 million customers spanning urban centres, emerging towns and rural communities.
Bharti Airtel today announced the expansion of its mobile network along the Amarnath Yatra pilgrimage, further strengthening connectivity for pilgrims, security personnel, and local authorities in the region. By deploying network sites at Chandanwari, Pissu Top, and Betaab Valley, Airtel has established network coverage along the crucial Pahalgam route, in addition to its existing presence at Baltal, thus providing uninterrupted connectivity leading up to the holy Amarnath cave shrine.
The deployment was carried out in close coordination with the relevant government authorities and local administration to strengthen communications infrastructure during the Yatra. The enhanced coverage will provide reliable voice and data connectivity, support emergency communication, and improve digital access for the millions of pilgrims.