Aug 4, 2026 | Nifty 24,590 (-0.2%) | Sensex 81,510 (+0.1%)

Divergence day. Banks dragged Nifty lower ahead of tomorrow’s RBI policy. Sensex held green thanks to Reliance and IT. Meesho block deal watch: Peak XV and Elevation Capital looking to offload Rs 1,900 crore. Secondary market absorbing it well so far but fintech sentiment stays fragile. SBI Funds Mgmt fell 2% post first-ever earnings. Net profit up just 3% to Rs 873 cr. Market priced in faster AUM growth. Disappointment showing in the tape. Banks cracked across the board — SBI, HDFC Bank, ICICI, Axis all red. RBI decision tomorrow. Nobody wants to carry risk into a policy where tone matters more than the pause itself.

Divergence day. Banks dragged Nifty lower ahead of tomorrow’s RBI policy. Sensex held green thanks to Reliance and IT.