Indian equity benchmarks traded lackluster throughout the day and ended flat on Thursday with investors taking a wait-and-see approach ahead of the US-Russia talks. Elevated crude oil prices and significant foreign fund outflows also dented investors' sentiments. 

Some of the important factors in today’s trade:

WPI inflation negative for 2nd month in July: Wholesale price inflation (WPI) stayed in negative territory for the second consecutive month at (-) 0.58 per cent in July, as prices of food articles and fuel saw deflation, even though prices of manufactured items increased.

Rupee falls against US Dollar: Indian rupee pared initial gains and settled for the day on a negative note, against the US dollar, as it came under pressure due to continued dollar demand from importers. 

FII selling continues for third straight session: Foreign Institutional Investors (FIIs) were net sellers for the third consecutive session, offloading equities worth Rs 3,644.43 crore on Wednesday, according to exchange data. 

Trump tariffs not to impact India's growth: S&P Global Ratings Director YeeFarn Phua said trump tariffs will not have any impact on India's growth, as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive.

Global front: European markets were trading mostly in green as the U.K. economy rebounded at a faster-than-expected pace in June. Gross domestic product grew 0.4 percent, following a fall of 0.1 percent in May. Asian markets ended mostly in red amid weak China bank lending data and awaited crucial U.S.-Russia talks on Ukraine.  

Finally, the BSE Sensex rose 57.75 points or 0.07% to 80,597.66 and the CNX Nifty was up by 11.95 points or 0.05% to 24,631.30.

The BSE Sensex touched high and low of 80,751.18 and 80,489.86 respectively. There were 14 stocks advancing against 16 stocks declining on the index.  

The broader indices ended in red; the BSE Mid cap index fell 0.18%, while Small cap index was down by 0.59%.

The top gaining sectoral indices on the BSE were Consumer Durables up by 0.82%, TECK up by 0.39%, IT up by 0.38%, Bankex up by 0.23% and Telecom up by 0.19%, while Metal down by 1.40%, Oil & Gas down by 1.18%, Energy down by 1.02%, Realty down by 0.76% and Basic Materials down by 0.73% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 1.94%, Infosys up by 1.50%, Asian Paints up by 1.16%, Titan Company up by 0.65% and HDFC Bank up by 0.61%. On the flip side, Tata Steel down by 3.03%, Tech Mahindra down by 1.53%, Adani Ports &SEZ down by 1.34%, Bharat Electronics down by 1.02% and Ultratech Cement down by 0.80% were the top losers.

Meanwhile, S&P Global Ratings Director YeeFarn Phua has said that Trump tariffs will not have any impact on India's growth, as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive. In May last year, S&P had upgraded the outlook on India's sovereign rating of 'BBB-' to positive, citing robust economic growth. He added that India's exposure to the US in terms of exports to GDP, it is just about 2 per cent. S&P estimates India's GDP growth in the current fiscal year at 6.5 per cent, the same as it was in the previous financial year. YeeFarn further said major sectors, like pharmaceuticals and consumer electronics, which export to the US, are exempted from tariffs. He said ‘Over the longer term, we don't think this (higher tariffs) will be a big hit (on India's economy), and therefore, the positive outlook on India remains’. 

On whether US tariffs would impact investment flows into India, he said the 'China plus one' strategy has played out for businesses over the last few years, and companies are setting up businesses in India mainly to cater to domestic demand. He also said ‘Many (businesses) are going there not because they are looking to export just to the US. Many of them are going there because of the huge domestic market as well. An emerging middle class is getting larger...So, even for those who are looking to invest more in India and looking to export, it might not necessarily be the US market’.

On August 6, US President Donald Trump announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50 per cent from August 27. The White House said the measure responds to India's continued purchase of Russian oil. In 2021-25, the US was India's largest trading partner. The US accounts for about 18 per cent of India's total goods exports, 6.22 per cent in imports, and 10.73 per cent in bilateral trade. With America, India had a trade surplus (the difference between imports and exports) of $35.32 billion in goods in 2023-24. It was $41 billion in 2024-25. In 2024-25, bilateral trade between India and the US reached $186 billion. India exported goods worth $86.5 billion while imports stood at $45.3 billion.

The CNX Nifty traded in a range of 24,673.65 and 24,596.90. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Wipro up by 2.01%, Eternal up by 1.71%, Infosys up by 1.50%, HDFC Life Insurance up by 1.47% and Asian Paints up by 1.19%. On the flip side, Tata Steel down by 2.81%, Adani Ports &SEZ down by 1.38%, Hero MotoCorp down by 1.27%, Tech Mahindra down by 1.20% and Tata Consumer Products down by 1.01% were the top losers.

European markets were trading mostly in green; France’s CAC rose 21.03 points or 0.27% to 7,826.00 and Germany’s DAX gained 107.91 points or 0.45% to 24,293.50, while UK’s FTSE 100 decreased 6.42 points or 0.07% to 9,158.81.