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Market Closes Lower Following IT Selloff; Mid and Small-Cap Stocks Lag Behind

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On Wednesday, benchmark indices experienced a slight dip in a highly volatile trading session, as gains in the banking and automobile sectors were countered by declines in the IT sector. By the end of the day, the Sensex decreased by 0.1%, or 72.56 points, closing at 74,029.76, while the Nifty fell by 0.12%, or 27.4 points, settling at 22,470.5.

During the trading session, the Nifty reached a peak of 22,577.4 and a low of 22,329.55. Meanwhile, the Sensex fluctuated between 74,392.15 and 73,598.16.

The mid and small-cap sectors lagged behind the benchmarks, with the BSE Midcap index falling 0.57% and the Smallcap index declining by 0.48%. The total market capitalization of BSE-listed companies also dipped below ₹393 lakh crore, down from over ₹394 lakh crore in the previous session.

Among the Nifty50 components, the top gainers included IndusInd Bank (up 4.38%), Tata Motors (3.12%), Kotak Mahindra Bank (2.45%), Bajaj Finance (1.73%), and ITC (1.53%). Conversely, the major losers were Infosys (down 4.26%), Wipro (3.31%), Tech Mahindra (2.77%), Nestle India (2.48%), and Tata Consultancy Services (1.93%).

The Bank Nifty index closed at 47,853.95, having reached an intraday high of 48,222.15 and a low of 47,844.95. Following a 27% decline in the previous session, IndusInd Bank rebounded by 6%, as investors evaluated the ramifications of discrepancies in the bank’s derivatives portfolio.

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The Nifty IT index faced a significant loss of 2.91%, with all constituents facing declines. IT stocks have been under pressure amid mounting concerns regarding a potential recession in the US market. Infosys and Wipro experienced a sell-off, fueled by fears that a downturn in US client spending could adversely affect revenue growth for Indian IT companies.

The Nifty Realty, Media, and PSU Bank sectors also posted losses of 1.65%, 1.53%, and 1.08%, respectively. Shares of Tata Motors surged over 3%, emerging as one of the top gainers on the Sensex and bolstering the BSE Auto index. Ola Electric shares rose by 2% following the successful implementation of a company-wide cost-reduction initiative.

In contrast, PB Fintech, the parent company of Policybazaar, saw its stock drop over 5% after announcing a ₹696 crore investment in its subsidiary, PB Healthcare Services.

On the international front, Asian markets mostly faced declines as investors remained cautious concerning US President Trump’s trade policies and the looming risk of a US recession. Global markets have shown volatility, as the US President imposes tariff barriers on trade partners.

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RBI Ends Special Dollar-Rupee Swap Window Early Amid Strong Demand

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Mumbai: The Reserve Bank of India (RBI) has decided to close its special forex swap facility for fresh FCNR deposits early.

The facility will now close on August 31, the RBI said on Friday.

The central bank said the decision was taken after receiving an encouraging response. The facility has attracted $52.3 billion through fresh foreign currency deposits.

Banks can continue to undertake swaps with the RBI against FCNR deposits raised under the facility until September 11.

Meanwhile, the schemes for External Commercial Borrowings and Overseas Foreign Currency Borrowings will remain open until December 31, 2026.

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The RBI launched the special US dollar-rupee forex swap facility on June 8. It allowed banks to raise fresh three-to-five-year FCNR deposits.

Banks could then swap these deposits with the RBI at a concessional rate. The facility effectively covered the entire hedging cost for banks.

The strong response to the scheme led the RBI to bring the facility to an early close.

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Leksa Lighting Technologies Named among India’s Top 100 MSMEs

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Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.

The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.

Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.

The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.

Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.

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What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.

Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.

He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.

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The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.

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Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.

 

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Vehicle Prices to Increase from August 1

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New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.

The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.

As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.

The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.

Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.

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READ MORE:Bhava Sangama Devotional and Patriotic Song Competition Concludes in Mangaluru

The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.

Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.

 

 

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