India Stocks: Indian shares subdued as higher crude prices weigh

Dr. Reddy's Laboratories

12/08/2026 05:41

Updates for morning trade
By Bharath Rajeswaran and Vivek Kumar M
Aug 12 (Reuters) - Indian shares fell in morning trade on Wednesday, as rising oil prices and caution ahead of local and U.S. inflation data hit sentiment.
The Nifty 50 .NSEI was down 0.43% at 24,366.40 and the BSE Sensex .BSESN dropped 0.42% to 77,827.31 as of 10:05 a.m. IST.
Thirteen of the 16 major sectors logged losses. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 fell 0.3% each.
"Market sentiment remains subdued as elevated crude prices keep investors cautious," said Sunny Agrawal, head of fundamental research at SBI Securities.
Oil LCOc1 hovered around $90 a barrel, as hopes for a potential deal to bring stability to the Middle East and reopening the Strait of Hormuz faded. India is the third-largest oil importer. O/R
Nifty metal index .NIFTYMET rose 0.5% after global aluminium prices hit a seven-week high on Gulf supply concerns and lower inventories. MET/L
Aluminium producers Hindalco HALC.NS and National Aluminium NALU.NS led the rise, climbing 2.5% and 7.3%, respectively. 
State-owned banks .NIFTYPSU rose 1.8% after a flat close in the previous session and a 1.7% decline on Monday.
Godrej Consumer Products GOCP.NS tumbled nearly 9.4% after the sudden exit of its chief executive, Sudhir Sitapati, just months after his reappointment. It dragged the consumer index .NIFTYFMCG 0.8% lower.
Domestic inflation data, expected after market close, could give clues on the impact of higher crude prices and a weak monsoon on the economy.
In the U.S., consumer inflation reading later in the day, and producer price data this week could shape the Federal Reserve's future rate decisions.
Among individual stocks, footwear maker Bata India BATA.NS climbed 3.5% after posting a 23% year-on-year rise in June-quarter profit.
Drug maker Zydus Lifesciences ZYDU.NS lost 2.6% after posting a profit drop in the June quarter, during market hours on Tuesday. The stock had gained 6.4% in the previous session.
Dr. Reddy's REDY.NS fell 1% after Jefferies flagged U.S. drug regulator's observations at a plant as a risk to FY2028 earnings.

(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Subhranshu Sahu and Harikrishnan Nair)
((VivekKumar.M@thomsonreuters.com;))