The Indian stock market closed lower for the third consecutive day on August 29. The Sensex closed at 79,809.65 and the Nifty at 24,426.85. Major stocks like Reliance, HDFC Bank, and Mahindra weakened due to US tariffs and selling by foreign investors, while ITC, Asian Paints, and Shriram Finance saw gains.
Stock Market Today: August 29, Friday, saw a volatile session in the Indian stock market. Due to the announcement of US tariffs and selling by foreign investors, the Sensex fell by 270.92 points to close at 79,809.65, and the Nifty fell by 74.05 points to close at 24,426.85. Shares of Reliance Industries and HDFC Bank remained weak, while ITC, Asian Paints, and Shriram Finance registered gains. The Midcap and Smallcap indices also saw minor declines.
Slight Decline in Sensex and Nifty
On August 29, the Sensex closed at 79,809.65, down 270.92 points or 0.34 percent. The Nifty closed at 24,426.85, down 74.05 points or 0.30 percent. The BSE Midcap and Smallcap indices also saw declines of 0.4 percent and 0.3 percent, respectively. The market was volatile during the trading session, with investors searching for a clear direction.
Mixed Performance Across Sectors
On the sectoral front, the Metal, IT, Realty, and Auto sectors registered declines ranging from 0.5 to 1 percent. On the other hand, the Consumer Goods, Media, and FMCG sectors witnessed slight gains, ranging from 0.2 to 1 percent. This indicates that investors are cautious in major industries while there is some stability in companies catering to daily consumption needs.
Top Gainers and Losers
On the Nifty, shares of ARC Insulation & Insulator Limited, Shriram Finance, ITC, Bharat Electronics, Trent, and Asian Paints were among the top gainers. Conversely, shares of Mahindra & Mahindra, Infosys, Apollo Hospitals, Adani Enterprises, and Reliance Industries saw the steepest declines.
In the Sensex pack, shares of Relaxo Footwears Limited, Davangere Sugar Company Limited, Granules India Limited, and Samman Capital Limited traded well. In contrast, shares of Vardhman Textiles Limited, Gem Aromatics Limited, Vikram Solar Limited, Sterlite Technologies Limited, and IDBI Bank Limited faced the most significant losses.
US Tariffs Impact Share Market Decline
The primary reason for the market downturn was the announcement of US tariffs. Tariffs of up to 50 percent, implemented from August 27, impacted investor sentiment. This led investors to become cautious, resulting in increased selling pressure on stocks. Additionally, selling by foreign investors is also putting pressure on the market. Foreign Institutional Investors (FIIs) withdrew $3.3 billion in August 2025, the largest outflow since February.
Impact on Major Companies
Reliance Industries shares fell by over 2 percent on the day of its AGM. HDFC Bank shares also declined due to weak trading. The fall in major industries and the banking sector had an impact on the overall market. US tariffs and selling by foreign investors affected investor sentiment and dampened buying appetite.
