Key Takeaways
- RBI Governor Sanjay Malhotra announces the MPC verdict at 10 AM today; consensus expects the repo rate held at 5.25% for a fourth straight meeting.
- LIC stock fell 8.7% to ₹391.30 on Tuesday, its lowest close since May 12, after the government fixed the OFS floor at ₹382; the retail and employee bidding window opens today.
- The government exercised its 4% greenshoe option after institutional bids came in at 3.32x, making this India’s largest secondary share sale via a stock exchange.
- Manipal Health Enterprises debuts today at its ₹590 issue price; a flat grey market premium points to a listing near par rather than a pop.
- Bharti Airtel’s NSE and BSE closing prices diverged on Tuesday (₹1,970.10 vs ₹1,956.50), a stock-level echo of the new closing-auction volatility that also split the Nifty and Sensex.
Market Setup: GIFT Nifty Points To A Gap-Up Open
GIFT Nifty futures traded 163.50 points, or 0.67%, higher at 24,743 as of 7:37 AM, signalling a firm start. Asian markets tracked Wall Street’s record close, Japan’s Nikkei 225 surged 3.34%, South Korea’s Kospi added 4.2%, Australia’s S&P/ASX 200 rose 0.38%.
On Wall Street, the S&P 500 gained 1.79%, the Dow 1.71%, and the Nasdaq 2.59% on strong tech earnings. Brent crude eased 0.4% to $79 a barrel as Qatar signalled progress mediating an end to the US-Iran conflict.
Tuesday’s domestic session was choppier: the Nifty 50 closed at 24,614.90, down 0.64%, while the Sensex settled at 78,428.95, off 0.27%, snapping a four-day rally. Analysts pinned the Nifty-Sensex divergence on NSE’s newly introduced Closing Auction Session (CAS) for F&O stocks, compounded by the weekly derivatives expiry.
Check Live: GIFT NIFTY FUTURE, NIFTY50, SENSEX
All Eyes On RBI’s August Policy Verdict
The three-day MPC meeting concludes today, with Malhotra announcing the decision at 10 AM and holding a press conference at 12 PM. Street consensus points to a fourth consecutive pause at 5.25%, with the FY27 GDP growth forecast likely retained near 6.6%. Bank, auto and real estate stocks will track the commentary on inflation and liquidity closely.
LIC’s ₹31,000-Crore OFS: Retail Window Opens Today
LIC shares fell 8.7% to close at ₹391.30 on Tuesday, their lowest close since May 12, after the government set the OFS floor price at ₹382, a 10.8% discount to Monday’s ₹428.50 close. Even after the fall, the stock closed roughly 2.4% above the floor.
The base offer of 316.25 million shares (2.5% of equity) was oversubscribed 3.32 times by institutional investors, who bid for 944.5 million shares worth about ₹36,250 crore at an indicative clearing price of ₹383.84, just ₹1.84 above the floor. Bidding clustered tightly between ₹383 and ₹385, with the single largest order at 188.7 million shares placed at ₹383.10.
That demand pushed the government to exercise its 4% greenshoe option, adding 506 million shares and taking the total offer to 822.25 million shares (6.5% of equity), India’s largest secondary share sale via a stock exchange platform, and a move that also helps LIC meet SEBI’s minimum public shareholding requirement. Retail investors and employees can bid today between 9:15 AM and 3:30 PM at an effective price of ₹373.10, after a ₹10 discount to the cut-off. Track live institutional flows here: niftytrader.in/fii-dii-data
Manipal Health Enterprises Set For Market Debut
India’s largest hospital chain lists today after a ₹9,275-crore IPO priced at ₹560-590, subscribed 4.92 times overall on institutional demand. With grey market premium near flat ahead of listing, the stock is expected to open close to its ₹590 issue price rather than deliver listing-day gains.
Q1 Earnings Movers
Bharti Airtel posted consolidated net profit up 37.3% to ₹8,167 crore, missing Bloomberg estimates, on revenue up 18.4% to ₹58,539 crore, beating them. Curiously, the stock closed flat on the NSE (₹1,970.10, -0.02%) but up 0.28% on the BSE (₹1,956.50), a cross-exchange divergence that mirrors Tuesday’s broader CAS-driven distortion.
BSE Ltd reported net profit up 62% to ₹872.66 crore on total income up 63% to ₹1,706.72 crore, its 14th straight quarter of record revenue. The stock, at ₹3,618, is up just 1.2% over five days and still about 6.4% below its one-month high of ₹3,867.50, leaving a gap between the earnings beat and price action.
Nykaa (FSN E-Commerce) posted net profit up 3.3x to ₹79.76 crore on revenue up 29% to ₹2,782 crore, alongside a 51% stake buy in D2C brand Aminu Wellness. Despite the beat, the stock has moved just 0.18% over five days, suggesting the market hasn’t fully priced in the result yet.
ONGC’s standalone profit more than doubled, up 112.3% to ₹17,034 crore on higher crude realisations, but consolidated PAT fell 43.3% to ₹6,554 crore, dragged by a ₹12,265-crore loss at HPCL from under-recoveries amid the West Asia crisis.
Marico’s net profit rose 27.1% to ₹652 crore on revenue up 22.9% to ₹3,957 crore, its strongest profit growth in 28 quarters, led by 11% India volume growth.
PB Fintech’s board meets later today to approve Q1 FY27 numbers, against a FY27 PAT target of ₹1,000 crore.
Other Stocks In Focus
- Adani Power: Promoter entity Ardour Investment Holding sold a 0.65% stake to group firm Adani Infra for ₹2,627 crore at ₹210.50 apiece.
- United Breweries: Net profit fell 9.64% to ₹166.28 crore on higher costs and West Asia-linked margin pressure.
- CE Info Systems (MapmyIndia): Profit rose 8.6% to ₹49.7 crore.
- HFCL: Board approved ~₹400 crore capex to expand optical fibre capacity.
- Zydus Life: Received final USFDA approval for its Indocyanine Green injection ANDA.
- Ather Energy: Entering the ₹1-1.25 lakh e2W segment with its new EL platform, due end-August.
NiftyTrader Desk View
| Stock | Key Technical Trigger | Trader View |
|---|---|---|
| Bharti Airtel | NSE flat at ₹1,970.10 vs BSE +0.28% at ₹1,956.50; ~9.4% off its ₹2,174.70 all-time high | The exchange-level split is worth watching for continuation as CAS beds in |
| BSE Ltd | ₹3,618, +1.2% in 5 days but ~6.4% below its 1-month high of ₹3,867.50 | Price hasn’t caught up with the 62% profit beat — a gap that could close either way |
| Nykaa | ₹342.50, just +0.18% in 5 days (range ₹332.80-344.90) despite a 3.3x profit beat | Muted reaction so far suggests the market hasn’t repriced the result yet |
| LIC | ₹391.30, -8.7% Tuesday, lowest close since May 12; ~2.4% above the ₹382 OFS floor | Retail subscription through the day likely decides whether it holds above the floor |
| Manipal Health | Debuts today at issue price ₹590; GMP flat | Listing-day discovery near ₹590 is the number to track; muted GMP signals limited early volatility |
Data: Business Standard, DIPAM, NSE/BSE filings, as of Aug 4, 2026 close
Bottom Line
Today’s session pivots on a single 10 AM event, the RBI’s rate call, with a hold at 5.25% largely priced in, so the post-policy commentary on inflation and growth may move markets more than the decision itself. Layered on top are two large primary-market events, LIC’s retail OFS and Manipal Health’s debut, both drawing liquidity, alongside a heavy earnings slate where price action hasn’t always tracked the numbers, BSE and Nykaa both show fundamentals ahead of price, worth watching as the session unfolds.
This article is for informational purposes only and does not constitute investment advice. NiftyTrader is not a SEBI-registered investment advisor. Investors should consult a certified financial advisor before making investment decisions. Data sourced from company exchange filings, DIPAM and NSE/BSE.
