India Stocks: Indian shares muted as easing US rate concerns, domestic earnings counter oil worries

State Bank Of India

10/08/2026 11:11

Updates for markets close
By Bharath Rajeswaran
Aug 10 (Reuters) - Indian shares were muted on Monday on resilient earnings and as weaker-than-expected U.S. jobs data tempered concerns about near-term rate hikes, helping offset pressure from higher oil prices due to lingering uncertainty in the Middle East.
The Nifty 50 .NSEI rose 0.05% to 24,583.80 and the BSE Sensex .BSESN rose 0.06% to 78,542.44.
Both benchmarks swung between 0.3% gains and 0.3% losses in a choppy session.    
Ten of the 16 major sectors logged losses. The broader small-caps .NIFSMCP100 fell 0.3% and mid-caps .NIFMDCP100 gained 0.6%.
Asian shares edged higher as the risk of a near-term rise in borrowing costs eased, a positive for foreign fund flows into emerging markets. MKTS/GLOB 
However, Brent crude rose 1.3% to about $84.6 a barrel as uncertainty persisted over the reopening of the Strait of Hormuz.
"The near-term bias for markets remains cautiously positive," said Rajesh Palviya, head of research at Axis Direct.
"With elevated crude remaining a key risk, any meaningful easing of tensions around the Strait of Hormuz could provide further relief and allow domestic equities to capitalise on the favourable global cues," Palviya said.
Titan Company TITN.NS rose 3% to a record high, Hero MotoCorp HROM.NS gained 2.4%, extending Friday's 3.1% gains, and Oil India OILI.NS gained 2.3% following upbeat quarterly results.
Paytm PAYT.NS jumped 9.9% to a 56-month high after Bernstein raised its target to a Street-high, citing UPI fees that could expand margins and boost earnings.
State Bank of India SBI.NS fell 2.4%, giving back some of its gains from the previous three sessions, when the stock rose 5.2%. The decline came despite healthy June-quarter loan growth, suggesting investors may have booked profits after the recent rally.
Ola Electric OLAE.NS fell 4.3% as weak sales outweighed a narrower quarterly loss.
Power Finance Corporation PWFC.NS slid 8.3% after multiple brokerages flagged concerns about the growth outlook despite a quarterly profit beat.


 (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Harikrishnan Nair, Nivedita Bhattacharjee and Janane Venkatraman)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))