Market Opening Bell: Sensex opens at 80,010; Nifty below 24,470 – GE Power India, Adani Power in focus today

Nifty 50 opened at 24,466.70, down 34.20 points (−0.14%) from its previous close of 24,500.90. Bank Nifty opened at 53,660.35, lower by 160.00 points (−0.30%) from 53,820.35. Sensex started at 80,010.83, slipping 69.74 points (−0.09%) from 80,080.57. Gift Nifty is currently trading at 24,657.

Global index as on 29 August 2025

• DOW 30 rose by 71.67 points, up 0.16% to 45,636.90.
• S&P 500 gained 20.46 points, up 0.32% to 6,501.86.
• NASDAQ climbed 115.02 points, up 0.53% to 21,705.20.
• FTSE 100 fell by 38.68 points, down 0.42% to 9,216.82.
• DAX dipped 6.29 points, down 0.03% to 24,039.90.
• NIKKEI 225 slipped 185.82 points, down 0.43% to 42,642.97

Commodities Update

• Gold: Currently trading at Rs. 10,261 per gram.
• Silver: Down by Rs. 0.10, now at Rs. 119.90 per gram.
• Crude Oil: Prices have fallen by 0.13%, reaching 67.405, compared to the previous close of 67.495.

Global events/updates

July IIP DATA

• Infra goods output growth at 11.9% vs 5.5% YoY
• Consumer durables output growth at 7.7% vs 8.2% YoY
• Consumer non-durables at 0.5% vs -4.2% YoY
• Capital goods output growth at 5% vs 11.7% YoY
• Intermediate goods output growth at 5.8% vs 7.0% YoY
• July IIP at 3.5%
• July IIP growth at 3.5% vs 5% YoY

Following the imposition of a 50% tariff by the US on a large portion of Indian goods, India’s government and industries are taking a multi-pronged approach to mitigate the impact. While the tariffs, particularly on labor-intensive sectors like textiles and gems, are expected to cause significant disruption.

The government is fast-tracking support measures for exporters, exploring new markets through free trade agreements and outreach programs, and considering domestic reforms like GST adjustments to boost consumption. 

Despite the trade tensions, India remains hopeful of resuming negotiations for a bilateral trade agreement with the US, though it has asserted its firm stance on protecting its “red lines” concerning farmers and small producers.

Stocks to watch

• Muthoot Finance Ltd: Allotted 3.25 lakh shares to its subsidiary Muthoot Money, valued at nearly ₹500 crore.
• Shukra Pharma Ltd: Secured a ₹24 crore authorization to supply medicines and diagnostic kits to Afghanistan.
• NTPC: Approved a partial modification to transfer its coal mining business to a subsidiary. Also cleared the revised cost estimate-I of Rammam-III HEPP at ₹2,865.6 crore.
• GE Power India: Sought injunction against Jaiprakash Power Ventures on bank guarantee invocation worth ₹77.5 crore. The Delhi High Court initially stayed the invocation in August 2025, later directing GE Power to deposit equivalent funds. The company is exploring further legal options.
• Omaxe: Approved allotment of non-convertible debentures worth ₹19 crore via private placement.
• CG Power & Industrial Solutions: Its subsidiary CG Semi Pvt. launched India’s first outsourced semiconductor assembly and test facility at Sanand.
• AGI Infra Ltd: Acquired a 60% stake in World’s Next Realty LLP for ₹30 crore.
• Belrise Industries: Incorporated a new arm, Belrise Defence & Aerospace.
• Hexaware Technologies: Entered a strategic partnership with Replit to drive secure AI-enabled enterprise coding.
• Mufin Green Finance Ltd: Approved issuance of non-convertible debentures worth ₹50 crore on a private placement basis.
• Allcargo Logistics Ltd: Reported 5% YoY decline in LCL volumes at 774 cubic meters for July.
• Sammaan Capital Ltd: Raised $300 million through allotment of senior secured social bonds.
• Kitex Garments Ltd: Subsidiary Kitex Apparel Parks Ltd. began commercial production at its new manufacturing unit in Warangal.
• Lemon Tree Hotels Ltd: Signed a new 98-room property in Dehradun.
• Adani Power Ltd: Gets Letter of Award from Bihar Government for 2400 megawatt thermal power plant and to invest $3 billion for Bihar thermal power plant

Bulk Deals

• InterGlobe Aviation Ltd
  The Chinkerpoo Family Trust, with Shobha Gangwal and JP Morgan Trust Company of Delaware as trustees, offloaded 25.2 lakh shares each at prices of ₹5,814.71 and ₹5,825.72 per share, respectively. The total transaction, amounting to ₹2,933.4 crore, represents a 1.3% stake sale. As of June 2025, Rakesh Gangwal along with the Chinkerpoo Family Trust together held a 7.81% stake in the IndiGo operator.
• RBL Bank Ltd
  Societe Generale purchased 31,49,445 shares of the private sector lender at ₹250.57 per share, taking the deal value to ₹78.9 crore.

Written by Manideep Appana

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