Archive · 28 Aug 2026
Markets Slide as HDFC Bank, Nvidia and BRICS Take Focus
Indian stock markets had a difficult day on Thursday.
The Sensex and Nifty both fell to their lowest levels in about a week.
Foreign investors sold more Indian shares than they bought, but Indian institutions continued buying.
Oil prices declined as investors watched events in West Asia and the Russia-Ukraine conflict.
HDFC Bank is defending itself in a US lawsuit about a payment made to a road development agency.
The bank says the payment was sponsorship, while the lawsuit says it may have encouraged better returns on deposits.
A tribunal approved a repayment plan proposed by Subhash Chandra.
Nvidia shares rose strongly because investors were optimistic about future sales of artificial-intelligence equipment.
The Sensex fell 539 points to 76,933, while the Nifty declined about 116-117 points to roughly 24,090, both closing at one-week lows.
Foreign institutional investors sold a net ₹298.26 crore after three straight buying sessions, while domestic institutions invested nearly ₹5,000 crore.
Brent crude traded near $87 a barrel and WTI fell 0.7% to $81.67 as investors weighed West Asia diplomacy and Russia-Ukraine tensions.
HDFC Bank’s US class-action defence centers on whether its ₹45-crore payment to the Maharashtra State Road Development Corporation was sponsorship or a deposit-return incentive.
The National Company Law Tribunal approved Subhash Chandra’s repayment plan, while Nvidia shares surged nearly 8% after an upbeat AI outlook and a Hugging Face deal.
- Who
- Indian equity investors, HDFC Bank, Subhash Chandra, Nvidia, Singapore Airlines, Air India and other companies and institutions mentioned in the market roundup.
- What
- Indian markets fell sharply while several corporate, legal, insolvency and global technology developments shaped the outlook for Friday’s trading session.
- When
- Thursday; Nvidia’s reported surge occurred on August 27, and the 18th BRICS Summit is scheduled for September 12-13.
- Where
- Indian markets; the HDFC Bank case is in the United States, while related developments involve India, including New Delhi, Visakhapatnam and Chennai.
- Why
- Markets weakened as foreign investors resumed selling and global geopolitical and oil-market concerns persisted; individual companies also faced legal, regulatory, funding or business developments.
Companies and Regulators
Plaintiffs and Challengers
Purpose of HDFC Bank payment
Companies and Regulators
HDFC Bank says the ₹45-crore payment to the Maharashtra State Road Development Corporation was a sponsorship.
Plaintiffs and Challengers
The US class-action lawsuit alleges the payment was linked to giving the agency a higher return on its deposits, which the bank disputes.
Google-Adani data-centre clearance
Companies and Regulators
Andhra Pradesh’s environmental regulator defended the environmental clearance granted to the proposed Visakhapatnam data centre in an affidavit before the High Court.
Plaintiffs and Challengers
The project is under scrutiny in an ongoing Andhra Pradesh High Court case, challenging or examining the regulator’s clearance.
Fresh capital for Air India
Companies and Regulators
Singapore Airlines said it supports Air India’s transformation and that its board would carefully consider any request for additional capital.
Plaintiffs and Challengers
Singapore Airlines has not committed to providing fresh capital and said it must consider its own capital requirements and Air India’s business strategy.
- Sensex close
- 76,933, down 539 points
- Nifty close
- Approximately 24,090-24,091, down about 116-117 points
- Foreign investor flows
- Net selling of ₹298.26 crore
- Domestic investor flows
- Nearly ₹5,000 crore invested, according to the roundup
- Oil prices
- Brent near $87 per barrel; WTI at $81.67 after falling 0.7%
- HDFC Bank payment
- ₹45 crore paid to the Maharashtra State Road Development Corporation
- Nvidia market-value increase
- About $359 billion after shares rose roughly 7-8%