After opening the day flat, the benchmark indices continued their downward momentum and ended the session in the red.

Indian equity market indices Sensex and Nifty were nervous on Friday as investor caution prevailed on Dalal Street amid US tariff concerns.

At the closing bell, the BSE Sensex closed lower by 271 points (down 0.3%).

Meanwhile, the NSE Nifty closed 74 points lower (down 0.3%).

ITC, Bharat Elec, Trent among the top gainers today.

M&M, Reliance Industries, and Tata Motors, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,55,3, lower by 73 points at the time of writing.

The BSE MidCap index ended 0.4% lower, and the BSE SmallCap index ended 0.3% lower.

Sectoral indices are trading mixed today, with stocks in the realty sector and the IT sector witnessing selling pressure. Meanwhile, stocks in the power sector and the industrial sector are witnessing buying.

The rupee is trading at Rs 87.8 against the US$.

Gold prices for the latest contract on MCX are trading 0.0% lower at Rs 101,539 per 10 grams.

Meanwhile, silver prices were trading 0.4% higher at Rs 116,659 per 1 kg.
 

Navneet Shares Surges on GST Rejig

In the news from the printing & publishing sector, shares of Navneet Education rise 2% after the government is considering major changes to the GST rates on stationery products.

The proposals suggest eliminating the GST on exercise books and erasers.

At the same time, the current 12% rate on pencils, crayons, sharpeners, maps, atlases, and other related items could be reduced to zero. Products like colour boxes, mathematical and geometry boxes, and others may have their taxes reduced to 5%.

It is important to remember that these are only initial recommendations and that the GST Council will make the final decision during its September 3-4 meeting in New Delhi.

If the proposals are approved, Navneet Education, a publisher and supplier of educational books and stationery, and Doms Industries, which produces pencils, drawing books, mathematical sets, and a variety of writing and colouring supplies, are anticipated to directly benefit.
 

Yes Bank Surges on SMBC Investment

Moving on to the news from the banking sector, Yes Bank shares rose 4% after a report said SMBC will invest Rs 160 billion (bn) in the bank.

SMBC will invest Rs 160 bn in Yes Bank, including Rs 75 bn in equity and Rs 85 bn in debt, to strengthen its balance sheet.

According to the report, SMBC has agreed to pay the lender's current shareholders, such as State Bank of India (SBI) and others, Rs 135 bn in exchange for a 20% stake in Yes Bank.

According to the report, the Rs 135 bn will be given to the bank's shareholders to ease their exit, while the Rs 160 bn infusion will be recorded in Yes Bank's books.

Last week, Yes Bank received RBI approval for Japan-based Sumitomo Mitsui Banking Corporation to acquire up to 24.99% stake in the bank. The acquisition involves buying a 13.19% stake from State Bank of India and 6.81% from seven other shareholders.
 

Trent Shares Surge on GST Hike

Moving on to the news from the retail sector, shares of Trent surged over 3% after reports of possible changes in the GST threshold for readymade garments.

Following reports that the Group of Ministers (GoM) had completed the redesign of the GST slabs, the share price increased.

According to the GoM's proposal, the price threshold for ready-made clothing will likely increase from Rs 1,000 to Rs 2,500, with a 5% GST increase.

Currently, garments priced up to Rs 1,000 have a 5% GST, while those above Rs 1,000 have a 12% GST. If the threshold increases to Rs 2,500, prices may decrease, potentially boosting sales.
 

CG Power's Semiconductor Unit Goes Live

Moving on to the news from the electrical equipment sector, shares of CG Power came into focus as its subsidiary CG Semi Private Limited has launched its first outsourced semiconductor assembly and test (OSAT) facility in Sanand, Gujarat.

CG Semi Private's new launch makes it one of India's first full-service semiconductor providers, boosting India's self-reliance in semiconductors and serving global markets.

CG Semi Private is investing Rs 760 bn in Gujarat to set up two semiconductor facilities, backed by government support and partnerships with Renesas and Stars Microelectronics.

The G1 facility can produce 0.5 million semiconductor units daily and offers end-to-end services like assembly, packaging, testing, and analysis with advanced equipment and automation.

The facility is a national milestone showing government and industry collaboration to achieve India's vision of technological sovereignty, said Chairman of CG Power.

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