Although the Indian stock market ended Monday’s session in the green, it retreated sharply from the day’s high as investors booked profits in select counters. The Nifty 50 closed with a gain of 0.39% at 24,967, while the S&P BSE Sensex advanced 0.40% to 81,635. In contrast, the broader markets ended with mild losses.
The rebound from Friday’s slump was largely driven by tech stocks, as optimism towards the sector improved after the US Federal Reserve hinted at a possible rate cut in the coming months, raising expectations that looser policy could revive tech spending.
At the Fed’s annual conclave in Wyoming, Chair Jerome Powell noted in measured remarks that while U.S. unemployment remains low, “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.”
However, while Powell left the door open for rate cuts, he refrained from giving a timeline, signaling that the Fed will proceed cautiously as it continues to assess the impact of tariffs and other policy measures on the economy. Markets are now pricing in an 87% probability of a 25-basis-point cut in September, up from around 75% last week.
Meanwhile, the 25% tariff announced by the US on purchases of Russian oil is set to take effect on August 27 (Wednesday), following an earlier 25% tariff that came into force on August 7.
India has strongly criticized Washington’s decision to impose steep tariffs on Indian imports over its continued purchase of Russian oil, reaffirming New Delhi’s stance that it will secure the “best deal” for its citizens.
In an interview with Russia’s state-run TASS news agency published Sunday, Kumar said that New Delhi’s priority is ensuring energy security of the country’s 1.4 billion people.
Over 25 Nifty 500 stocks logged gains between 3% and 10%
Action Construction led the pack, surging 10% to ₹1,080, a welcome relief for the small-cap stock that had been under pressure in recent months, sliding 30% in 2025 so far on sustained selling. eClerx Services rallied 9% to ₹4,238, marking its biggest intraday gain since May.
Snapping a two-day losing streak, Newgen Software rose 6.3% to ₹920, while Kirloskar Brothers advanced 4.7% to ₹2,034.
Meanwhile, Vodafone Idea climbed 4.7% to ₹7.4 apiece after a Mint report said the Department of Telecommunications (DoT) has proposed “multiple relief options” to steady the debt-laden telecom operator. According to the report, one option includes a two-year pause on statutory dues under the current moratorium.
The DoT has also suggested more time to repay dues, smaller annual payouts, and a waiver on penalties and interest on AGR-related payments.
Other notable gainers included Jubilant FoodWorks, Hyundai Motor India, Mastek, and ACME Solar Holdings, each rising over 4%. Bikaji Foods International recovered from intraday losses to close 3.7% higher at ₹798.40.
PG Electroplast extended its recovery with another 3.6% gain to ₹584. Among other Nifty 500 stocks, Zydus Lifesciences, PTC Industries, Elecon Engineering, Zen Technologies, Olectra Greentech, Infosys, Godfrey Phillips India, and several others ended the session with gains above 3%.
