Asian markets traded mixed ahead of the deadline for the US-China tariff race. MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer.

Wall Street rose on Friday, setting up a strong finish to the week, after President Donald Trump's interim pick for a Fed governor post fuelled expectations of a more dovish policy ahead.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

At present, the BSE Sensex is trading 156 points higher, and the NSE Nifty is trading 48 points higher.

Tata Motors, SBI, and Adani Enterprises are among the top gainers today.

Titan, Coal India, and ICICI Bank are among the top losers today.

The BSE Midcap index is trading 0.3% lower, and the BSE Smallcap index is trading 0.5% lower.

Sectoral indices are trading mixed today, with stocks in the realty sector and banking sector rising. Meanwhile, stocks in energy sector, the auto sector, and oil & gas sector witnessing most selling pressure.

The rupee is trading at Rs 87.53 against the US dollar.
 

Bharti Airtel Promoters Sell Stake

Indian Continent Investment, a promoter entity of Bharti Airtel, has sold about 1% shareholding-equivalent to 60 million shares-in the telecom company for Rs 112 billion (bn) through a market transaction on Friday (August 8).

The company said the transaction drew strong demand from marquee domestic and international long-only investors, including both new and existing shareholders of Bharti Airtel.

The placement was predominantly allocated to such investors.

Indian Continent Investment stated that the sale proceeds will be used to strengthen its balance sheet and help maintain a prudent leverage profile.

The floor price of the deal was set at Rs 1,862 per share, as per media reports.

Tata Motors Quarterly Profit Plunges

Indian automaker Tata Motors posted a 63% slump in quarterly profit on Friday, its fourth straight quarter of decline, as US tariffs hurt businesses that were already reeling from weak sales.

US duties wiped 254 million pounds ($341.33 million) off its quarterly earnings, the company said, adding that the tariffs and its planned model phase-out for its luxury Jaguar Land Rover cars, made predominantly in the United Kingdom, dealt a direct blow to profit and cash flow.

However, kept its JLR forecast unchanged, saying a U.S.-UK trade deal signed in May would sharply cut the tariff hit.

It had earlier reported a 11% fall in overseas sales at its luxury car unit due to the U.S. export halt and the phase-out of older Jaguar models.

Speaking to reporters in a post-earnings call, Chief Financial Officer P.B. Balaji also said that China's ban on rare earth magnets export had not affected the company, and added that it had de-risking plans in place to avoid any impact in the medium term.

Last week, rivals Hyundai Motor India and Mahindra & Mahindra had downplayed concerns over the export ban.

The magnets are key to EV motors and components in conventional cars such as power windows and speakers.
 

ICICI Bank Shares in Focus

ICICI Bank shares will be in focus after the lender announced a steep increase in the minimum average balance requirement for new savings accounts opened on or after 1 August 2025.

In metro and urban areas, the minimum average monthly balance (MAMB) will rise to Rs 50,000 from Rs 10,000. For semi-urban branches, the threshold will increase to Rs 25,000 from Rs 5,000, while in rural branches it will double to Rs 10,000 from Rs 5,000.

The revised MAMB applies only to new accounts.

In case account holders fail to meet the MAB, customers will be liable to pay penal charges of 6% of the shortfall in required MAB, or Rs 500, whichever is lower.
 

HPCL Explores Alternative Crude Sources

India's Hindustan Petroleum Corp is scouting for alternative crudes to protect itself if it were to stop buying Russian oil due to higher prices and sanctions, its chairman Vikas Kaushal said on Friday.

Indian state refiners have paused buying Russian oil imports as it has become pricey, and President Donald Trump's threatened to impose a penalty on the South Asian nation for purchasing Russian oil.

Trump has decided to impose an additional 25 per cent tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations after trade talks.

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