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Indian equity markets ended on a flat note as Nifty 50 closed at 24,624.65, up 9.75 points. The RBI held the repo rate steady at 5.25% while raising its FY27 growth estimate to 6.7%. Autos and Realty attracted buying interest, though IT and FMCG stocks faced selling pressure during the session.
Asia-Pacific economies are better prepared to handle El Nino risks, S&P Global Ratings said on August 5. Improved planning and food reserves help the region. “Stronger early preparedness frameworks will keep the overall macroeconomic impact in Asia manageable,” S&P said. India’s large foodgrain stocks should also help contain the potential fallout.
Big Short investor Michael Burry warned of a 1987-type fall despite strong tech earnings. He said, “I must short. Most should not.” Burry believes the AI rally is unsustainable as companies spend billions on infrastructure. He worries that high leverage and low confidence in the US dollar could trigger crashes.
United States crude oil stocks rose by 2.5 million barrels in the week ended July 31, the EIA said. Refinery runs fell as imports climbed to 6.2 million barrels per day. Analyst Matt Smith said, "Strong imports combined with an ongoing slower pace of exports to yield a modest build."
Paramount posted a surprise surge in second-quarter profits as cost-cutting efforts paid off. Earnings grew 27% to $1.1 billion, beating expectations. While streaming profits climbed, the company now faces a March trial over its $110 billion Warner Bros. deal. Chief Operating Officer Andy Gordon said, “All these things are beginning to fire.”
Wednesday’s earnings showed that demand stayed strong, but margins varied across sectors. PB Fintech doubled its profit, while Biocon saw a four-fold jump. Berger Paints grew 21% despite high costs. However, Cummins India missed profit targets as operating expenses rose. Overall, companies remain confident about growth for the coming quarters.
PB Fintech’s net profit jumped 92% to Rs 163 crore in the April-June quarter. The Gurugram-based company saw operating revenues rise 40% to Rs 1,888 crore. CEO Yashish Dahiya said, “We are not holding back in terms of growth.” Strong insurance premiums helped the firm improve its overall profit margins.
The S&P 500 reached fresh all-time highs as strong corporate profits lifted stocks for a fifth straight day. Almost 90% of companies beat estimates, helping the market grow. Keith Lerner said, “Earnings remain our north star, the economy continues to show resilience, market participation has broadened, and valuation excesses have worked off.”
Foreign investors sold Indian equities worth ₹943 crore on August 5. Despite this, the Sensex and Nifty closed higher as domestic funds stepped in to buy shares worth ₹2,883 crore. The market showed positive breadth, with midcap stocks performing well even as banking stocks fell during the trading session.