Closing Bell: Nifty Slips as Financials Drag; IT, Auto Sectors Show Resilience | 07 Aug 2026, 03:45 PM IST
By ThePip DeskIndian equities closed lower on Friday, with the Nifty 50 shedding 79 points to 24557. Financials weighed heavily, though IT and auto sectors provided some support. DIIs remained strong buyers.
Indian equity benchmarks concluded Friday’s session in negative territory, primarily dragged by a significant downturn in financial stocks. The Nifty 50 closed at 24557.00, registering a decline of 79.00 points, or 0.32%. This marked a cautious end to the trading week for the frontline index. Similarly, the Nifty Bank index, heavily weighted by financial institutions, fell by 262.50 points (0.45%) to settle at 57801.15, reflecting the broad weakness in the sector. In contrast to the large-cap indices, the NIFTY Midcap 100 showed notable resilience, advancing 136.55 points (0.22%) to close at 63463.35. Despite the broader market dip in the Nifty 50, market breadth for the index remained positive, with 31 stocks advancing against 19 declines, indicating underlying strength in specific pockets.
Index Performance at a Glance
| Index | Close | Change | Change % |
|---|---|---|---|
| Nifty 50 | 24557.00 | −79.00 | −0.32% |
| Nifty Bank | 57801.15 | −262.50 | −0.45% |
| NIFTY Midcap 100 | 63463.35 | +136.55 | +0.22% |
Financials Lead Declines, IT and Auto Sectors Offer Support
The financial sector experienced significant selling pressure today, with several major players featuring prominently among the top Nifty 50 losers. Bajaj Finance led the declines, shedding a substantial 5.56% to close at ₹1081.2. Its peer, Bajaj Finserv, also saw a sharp fall of 3.93%. Adding to the sector’s woes, major banking stocks like ICICI Bank (−2.23%), Kotak Mahindra Bank (−1.22%), and Axis Bank (−1.11%) were all among the top ten laggards, contributing significantly to the Nifty Bank’s overall decline. Conversely, the Information Technology (IT) and Auto sectors displayed robust strength, providing a cushion to the broader market. Tata Consultancy Services (TCS) emerged as the top Nifty gainer, surging 3.46% to ₹2455. Hero MotoCorp followed closely, gaining 3.27%, while Mahindra & Mahindra also posted a healthy gain of 2.82%. Other notable gainers included Grasim Industries (+3.26%) and Hindalco Industries (+2.58%).
Top Movers on the Nifty 50
| Gainers | Change % | Losers | Change % |
|---|---|---|---|
| Tata Consultancy Services Ltd. (TCS) | +3.46% | Bajaj Finance Ltd. (BAJFINANCE) | −5.56% |
| Hero MotoCorp Ltd. (HEROMOTOCO) | +3.27% | Bajaj Finserv Ltd. (BAJAJFINSV) | −3.93% |
| Grasim Industries Ltd. (GRASIM) | +3.26% | Trent Ltd. (TRENT) | −3.56% |
| Mahindra & Mahindra Ltd. (M&M) | +2.82% | Shriram Finance Ltd. (SHRIRAMFIN) | −2.28% |
| Hindalco Industries Ltd. (HINDALCO) | +2.58% | ICICI Bank Ltd. (ICICIBANK) | −2.23% |
| State Bank Of India (SBIN) | +1.11% | JIO Financial Services Ltd. (JIOFIN) | −2.01% |
| HCL Technologies Ltd. (HCLTECH) | +1.07% | Bharat Petroleum Corporation Ltd. (BPCL) | −1.47% |
| Infosys Ltd. (INFY) | +0.86% | Asian Paints Ltd. (ASIANPAINT) | −1.23% |
| Hindustan Unilever Ltd. (HINDUNILVR) | +0.79% | Kotak Mahindra Bank Ltd. (KOTAKBANK) | −1.22% |
| Bharat Electronics Ltd. (BEL) | +0.70% | Axis Bank Ltd. (AXISBANK) | −1.11% |
Institutional Activity and Key Corporate Developments
Domestic Institutional Investors (DIIs) continued to provide robust support to the market, recording significant net inflows of ₹4013.6 crore today. This strong buying activity by DIIs largely counteracted the selling pressure from Foreign Institutional Investors (FIIs), who were net sellers for the session, pulling out ₹17.86 crore. This trend of DII buying offsetting FII selling has been a recurring theme in recent sessions. On the corporate news front, Tata Consultancy Services (TCS), a top gainer, informed about a press release and celebrated the launch of its CBG Gemini Experience Center in Kolkata, marking its third such center in India. Hero MotoCorp, another strong performer, submitted an investor presentation to the exchanges. The company reported a 17% decline in Q1 consolidated net profit, despite a substantial 35.35% increase in consolidated total income to ₹13,586.09 crore for Q1FY27. Grasim Industries, also among the top gainers, announced that its arm signed a definitive agreement to acquire Solenergi Power, with the transaction valuing the business at an enterprise value of ₹17,200 crore.
As the trading week concludes, market participants will closely monitor global macroeconomic developments and any fresh corporate announcements over the weekend for cues that could influence market sentiment ahead of Monday’s opening session.