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Stock Market Today, August 7: Market sentiment remains cautiously optimistic, dampened by persistent volatility and mixed global cues, says Choice Broking in its note.

Sensex Today.
Stock Market Today, August 7: The domestic equities markets on Thursday opened in red marginally after US President Donald Trump imposed additional 25% tariffs on India. The market extended its losses during the first hour, with the BSE Sensex falling by 526.8 points to trade at 79,995.6, while the NSE Nifty declining by 180 points to trade below 24,400 at 24,391.9, as of 11:07 am.
The Nifty Oil & Gas Index, Nifty Metal, and Nifty Auto were hit the most, trading down by 0.90%, 1.10%, and 1.06%, respectively. However, only the Nifty Media was in green rising by 0.51%.
Among the Sensex pack of 30 shares, a total of 25 stocks were trading in red. Among the top losers were Tata Motors, Adani Ports, M&M, Tata Steel, and Reliance falling up to 2.44%.
On the other hand, Eternal, Titan, PowerGrid, and ITC were trading in green with marginal gains of up to 0.28%.
In the broader market, the situation was worse, with the midcap and smallcap indices trading down by 0.71% and 0.76%, respectively, as of 11:07 am.
“The Nifty remained under pressure and failed to move beyond its key Call bases. While couple of heavyweights have helped Nifty to limit the declines, broader markets remain weak. For today’s weekly settlement, we believe that Nifty may try its best to hold 24500 levels below which weakness may extend. FII’s Index futures continue to remain at elevated levels. Hence, we expect, India VIX is likely to move higher towards 14 levels in the coming sessions,” ICICI Securities said in its note.
Stock-Specific Action
Godfrey Phillip India is down by 7.4% on Thursday morning after surging over 24% in the previous two days. BHEL was trading lower by 6.34%, while Adani Green Energy declined 2.87%.
On the other hand, Bajaj Holding was trading higher by 3.2% following its Q1 results. Britannia and Hero MotoCorp were also up by more than 1% after their Q1 results.
US Tariffs & Indian Markets
V K Vijayakumar, chief investment strategist of Geojit Investments Limited, said, “The 21-day window for the additional 25 % tariff to take effect leaves room for negotiation and an eventual deal with the US. But there is huge uncertainty surrounding the trade policy and to what extent both nations will be willing to make compromises. President Trump, fresh from the successes he has extracted in deals with others including the EU, is unlikely to budge significantly from his unjustified stand. Unfortunately for India, the US is bargaining from a position of strength. India’s response has been mature and measured.”
The market is unlikely to panic but weakness will continue in the near-term. Since uncertainty is high investors should be cautious in their approach. At least in the near-term, export-oriented sectors will remain weak. Domestic consumption themes like banking and financials, telecom, hotels, cement, capital goods and segments of automobiles will remain resilient, he added.
US President Donald Trump on Wednesday announced an additional 25% tariffs on Indian goods. This is over and above the 25% tariff plus penalty he imposed on India earlier.

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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