Asian equities rose on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for U.S. rate cuts boosted sentiment.

US stock market ended higher on Wednesday, led by a more than 1% gain in the Nasdaq. The Dow Jones Industrial Average gained 0.18%, to 44,193.12, while the S&P 500 rallied 0.73%, to 6,345.06. The Nasdaq Composite closed 1.21%, higher at 21,169.42.

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

Source: Equitymaster

At present, the BSE Sensex is trading 175 points lower, and the NSE Nifty is trading 55 points lower.

Trent, Cipla, and Hero MotoCorp are among the top gainers today.

Tata Motors, Coal India, and Tata Steel 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 in red today with stocks in the energy sector, the auto sector, and the oil & gas sector witnessing the most selling pressure.

The rupee is trading at Rs 87.71 against the US dollar.
 

Bharat Forge Inks Business Transfer Deal

Pune-based Bharat Forge on Wednesday (6 August) announced that it entered into a business transfer agreement (BTA) with Kalyani Strategic Systems for a consideration of Rs 4.5 bn, according to a stock exchange filing.

On 30 June, the global metal forging company had informed that its board approved two key strategic actions - an internal restructuring of its defence business and an upward revision in the acquisition cost of AAM India Manufacturing Corporation Private Limited.

The transaction, aimed at streamlining operations and enhancing focus on defence, will be executed at fair value as determined by an independent valuer.

Kalyani Strategic Systems will issue optionally convertible redeemable preference shares (OCRPs).

The restructuring is expected to be completed within 45 days and will not impact Bharat Forge's consolidated financials.

The company's board also approved an increase in the acquisition cost of AAM India to a maximum of Rs 7.7 bn, up from the initially estimated Rs 5.4 bn. The transaction, announced earlier on 17 October 2024, involves acquiring 100% equity in AAM India, a key supplier of axles for light, medium, and heavy commercial vehicles in India.
 

Adani Energy Solutions Bulk Deals

Foreign portfolio investor Envestcom Holding RSC has sold 1.8% stake in Adani Energy Solutions via open market purchases on 6 August.

Its shareholding in the company was 2.68% at the end of June 2025 quarter.

Envestcom Holding has offloaded total 2.1.9 m shares in the Adani Group company at Rs 790 per share today, the bulk deals data on the exchanges showed. These shares are valued at Rs 1,736.7 crore.

Adani Energy Solutions is a player in India's energy infrastructure, working across transmission, distribution, smart metering, and cooling, contributing to both operational scale and sustainability in the energy sector.

The company is the largest private power transmission company in India, operating in 16 states.
 

Antfin to Exit Eternal

Antfin Singapore Holding Pte Ltd, a unit of China's Alibaba Group, will sell its entire 1.95% stake in food and grocery delivery firm Eternal Ltd in a block deal worth US$ 612 million, days after it said its final goodbye to financial services firm Paytm.

Antfin has hired Morgan Stanley and Bank of America for the sale. The order book opens on Wednesday and is expected to close on Thursday.

On Monday, Alibaba Group sold its entire stake in Paytm owner One97 Communications Ltd in a block deal for Rs 38 bn, according to a term sheet. The term sheet also described the sale as a "clean-up" trade.

Global investment firms SoftBank and Alibaba (through Antfin and Alipay) have been exiting their India investments over the last few years, including Paytm.

Zomato reported a 90% fall in its June quarter consolidated net profit to Rs 250 m versus Rs 2.5 bn reported in the year-ago period. Revenue from operations in Q1FY26 stood at Rs 71.7 bn, which was up by 70.4% over Rs 42.1 bn in the corresponding quarter of the previous financial year.

Despite the massive decline in net profit and a sharp drop in the company's operating performance, Eternal (earlier Zomato) shares surged on subsequent days, as investors overlooked the weakness in food delivery business and cheered the earnings show of its quick commerce arm-Blinkit.

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