Markets slip after a promising start

The markets, which initially opened with slight gains, soon slipped into the red and exhibited volatility throughout the morning session.

Banking, financial, metal, and realty stocks saw a decline. Federal Bank shares dropped by over 1%, approaching ₹194.

FMCG giants like Hindustan Unilever, Marico, and Nestlé also remained subdued today.

NBCC shares surge

NBCC (National Building Construction Corporation Ltd.) shares surged by 8% following reports that the company's board of directors, meeting on August 31, is likely to announce a bonus issue.

Insecticides India shares soared by 17% in the morning, reaching ₹1,084.

The rupee weakened this morning, with the dollar gaining 1 paisa, opening at ₹83.94, and later trading at ₹83.95.

Gold prices in the global market fell to $2,512 per ounce. In Kerala, gold rose by ₹160 per sovereign, reaching ₹53,720—the highest price since the reduction in customs duty.

Crude oil prices are on the decline, with Brent crude trading at $79.61 per barrel.