Mid-Day Market Update @ 10:30 AM — August 6th 2025

Nifty wavers and drifts lower after RBI keeps repo rate unchanged, reiterates Neutral stance.

We suspect, Nifty bears will still aim to seize Dalal Street on backdrop of slight hawkish RBI tone as Reality stocks fall, Pharma stocks too receive drubbing.

Nifty (-41, 24608)
Sensex (-92, 80615)
Bank Nifty (+30, 55390)

# Nifty (CMP: 24638)
SUPPORT: 24473/24003
RESISTANCE: 24857/25001
TRADING RANGE (24500-24800)

# SECTOR GAINER:
NIFTY PRIVATE BANKS (+0.15%)
BANK NIFTY (+0.14%)
NIFTY PSU BANKS (+0.19%)

# SECTOR LOSER:
NIFTY REALITY (-1.57%)
NIFTY PHARMA (-1.19%)
NIFTY IT (-1.12%)

# KEY THEMES FOR THE DAY:

1) Highlights of RBI Governor Sanjay Malhotra’s speech:

# RBI keeps repo rate unchanged at 5.5%.
# Repo rate unchanged; stance also remains ‘Neutral’
# Core inflation remains steady around 4% mark
# RBI projects real GDP growth for FY26 at 6.5%. Here are the quarterly estimates:
Q1FY26: 6.5%
Q2FY26: 6.7%
Q3FY26: 6.6%
Q4FY26: 6.3%
Q1FY27: 6.6%

2) Our call of the day suggests upside is likely to be capped for benchmark Niftyt amidst negative catalysts like;

1) Fears over higher tariff
2) Fears of slowdown in economic growth.
3) Fears of inflation.
3) Fears of persistent selling.

4) Traders brace for a busy week of big-corporate earnings. India’s Q1 earnings: Wednesday, August 06th:
BAJAJ AUTO
BHARAT FORGE
DIVIS LABS
GNFC
PFC
PIDILITE
PVR INOX
RAYMOND
RITES
TRENT.

5) Technically speaking, Nifty’s biggest interweek support seen at 24473 mark. Immediate hurdles at 24857 mark.

6) As of writing, Wall Street stock futures are seen climbing, rebounding from a sharp selloff in overnight trade, as investors are ramping up bets on deeper Fed rate cuts following a weaker-than-expected jobs report.

7) WTI oil prices plunging towards $65 a barrel.

8) India VIX hovers around 11.76 levels.

9) The Indian rupee extends its fall amid sustained concerns over U.S. President Donald Trump’s threaten to "substantially" raise tariffs on goods imported from India. As of writing, INR opened at Rs 87.95 per dollar and now is hovering at 87.78.

# Long Story short: After morning volatility, we suspect, Nifty will continue to waver amidst Trump’s tariff uncertainty

Top Index Gainers:
TRENT (+1.56%)
ASIAN PAINTS (+1.24%)
KOTAK BANK 0.85%)
BEL (+0.78%)
ADANI PORTS (+0.71%)

Top Index Losers:
INFY (-1.36%)
WIPRO (-1.38%)
CIPLA (-1.23%)
ETERNAL (-1.16%)
TECH MAHINDRA (-1.12%)

# 10:30 AM GLOBAL UPDATE:
Dow Futures: (+157, 44271)
Nasdaq 100 Futures (+43, 23065)

Nikkei (+177, 40727)
Hang Seng (+45, 24948)

Dollar Index (-0.02%, 98.27)
WTI OIL (+0.64%, 65.70)
Gold (-3, 3377)

STOCKS IN SPOTLIGHT:

1) ITI climbs on launching AI-based road safety pilot in Uttar Pradesh ITI hit an upper limit of 5% at Rs 304.10 after the company announced the launch of India’s first AI-powered road safety pilot in Uttar Pradesh, in collaboration with US-based technology firm mLogica.

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