Indian Markets Dip, Brent Crude Rises, US Stocks Climb Aug 10

Indian equity benchmarks, Nifty 50 and Sensex, concluded Friday, August 10, 2026, in negative territory, yet successfully logged their second consecutive weekly gain of 0.5% each. This movement occurred as Brent crude advanced 1.4% to $83.65 a barrel, and US stocks, led by the Nasdaq Composite, climbed following a softer July jobs report that eased Federal Reserve rate hike concerns.

• Nifty 50: Closed lower, achieved 0.5% weekly gain.
• Sensex: Closed lower, achieved 0.5% weekly gain.
• Brent Crude: Rose 1.4% to $83.65 a barrel.
• Brent Crude Year-to-date: Increased over 37%.
• US Stocks: Nasdaq Composite advanced after July jobs data.

Despite the daily downturn, both major Indian indices demonstrated resilience by securing consistent weekly upward trends. The domestic market’s performance reflects a complex interplay of internal factors and broader global cues. Investors closely monitored these movements ahead of upcoming corporate disclosures and economic indicators.

Internationally, the rise in Brent crude, now up over 37% this year, was directly linked to shipping uncertainties in the critical Strait of Hormuz. In the United States, equity markets experienced a positive shift, with the Nasdaq Composite leading gains, as a weaker-than-anticipated July jobs report tempered expectations for aggressive Federal Reserve interest rate hikes, influencing global sentiment.

Key Quarterly Earnings

• Advanced Enzyme: Net Profit decreased 7% to Rs. 37 crore; Revenue increased 2.1% to Rs. 190 crore.
• Eveready Industries: Net Profit surged 22.3% to Rs. 37 crore; Revenue climbed 9% to Rs. 408 crore.
• Greenpanel Industries: Reported Net Profit of Rs. 1.2 crore, a significant turnaround from a Rs. 34.6 crore loss; Revenue rose 6.6% to Rs. 350 crore.
• Nitin Spinners: Net Profit soared 83.7% to Rs. 75.3 crore; Revenue grew 10.3% to Rs. 875 crore.
• Titan: Posted a 63% increase in Net Profit to Rs. 1,777 crore; Revenue was up 29% to Rs. 21,356 crore, primarily driven by robust jewellery business growth.
• Ola Electric: Net Loss narrowed to Rs. 336 crore from a previous Rs. 428 crore loss; Revenue, however, declined 45% to Rs. 455 crore.
• Oil India: Consolidated Net Profit jumped 72.9% to Rs. 3,630 crore; Revenue increased 34.5% to Rs. 12,503 crore.
• PFC: Net Profit rose 2.1% to Rs. 7,012 crore; Total Income dipped 0.2% to Rs. 28,563 crore. The company announced an interim dividend of Rs. 3.90 per share.

Corporate Developments & Strategic Moves

• SML Mahindra: Reported significant growth in July, with Commercial Vehicle Production up 11%, Sales up 10%, and Exports soaring 74%.
• Gland Pharma: Secured a strategic Contract Development and Manufacturing Organization (CDMO) deal with a global pharmaceutical firm to produce 55 injectable SKUs, anticipating annual revenue of $90-100 million starting from Calendar Year 2029.
• Dr. Reddy’s Labs: Ended its distribution partnership with Novartis India, a decision prompted by changes in Novartis’ shareholding structure.
• Universal Cables: Elevated its capacity expansion project outlay to Rs. 617 crore and detailed plans for a substantial Rs. 4,800 crore investment in optical fibre production.
• Coal India: Initiated operations of a 200 MW solar project located at Khavda, marking a step in its renewable energy portfolio.
• Honasa Consumer: The Dubai Cassation Court mandated a Rs. 4.4 crore compensation payment to RSM General Trading, although the company projects no material financial impact on its operations.
• AstraZeneca Pharma: Received approval from the Central Drugs Standard Control Organisation (CDSCO) for the sale of trastuzumab deruxtecan, a critical treatment for breast cancer.
• Signatureglobal (India): Finalized agreements for 25.61 acres of land in Gurugram, earmarked for future real estate development projects.

The trading day on August 10, 2026, presented a nuanced market landscape, with Indian benchmarks closing lower but maintaining weekly gains, while global commodity and equity markets reacted to specific geopolitical and economic drivers. Corporate earnings and significant business updates continued to shape investor focus across various sectors.