Stock Market Crash Highlights: Sensex Ends 307 Points Lower, Nifty At 24,080; Metals, IT Shares Top Losers

• Emkay Global said the Nifty 50 remains locked in a prolonged consolidation phase, oscillating within a 23,600-24,600 range and broader 22,000-26,400 band, leaving the market without a clear directional trend.
• The brokerage said a move above 24,600 would confirm a bullish breakout, while a fall below 23,600 could trigger a correction towards 23,000 and 22,200-21,800.

Nifty Midcap 150 Outperforming

• In contrast, Nifty Midcap 150 has confirmed a bullish breakout after a 90-week base formation, signalling improving medium-term momentum.
• Emkay said any dip towards 22,000-22,600 should be viewed as a constructive buying opportunity.
• The brokerage expects midcaps to continue outperforming largecaps.

Sector Rotation Signals Risk-On Mood

• Market leadership remains concentrated in:

  • Healthcare
  • Realty
  • Auto & Auto Components
  • Capital Goods
  • Metals & Mining
  • Fintech and Capital Markets

• Underperforming pockets include:

  • FMCG
  • Power/Utilities
  • Construction
  • Fertilisers & Agrochemicals

• Emkay said the market is exhibiting a risk-on, growth-oriented rotation, favouring cyclical sectors and financial-market-linked themes.

Emkay's Stock Calls

Buy Ideas

• Auro Pharma

  • Buy Zone: Rs 1,650-1,600
  • Stop Loss: Rs 1,570
  • Target: Rs 1,850 / Rs 1,910

• AIIL

  • Buy Zone: Rs 568-550
  • Stop Loss: Rs 538
  • Target: Rs 630

• Nykaa

  • Buy Zone: Rs 338-328
  • Stop Loss: Rs 318
  • Target: Rs 380

• Engineers India (ENGINERIN)

  • Buy Zone: Rs 254-246
  • Stop Loss: Rs 236
  • Target: Rs 290

Short Ideas

• Punjab National Bank (PNB)

  • Short Zone: Rs 113-115
  • Stop Loss: Rs 117
  • Target: Rs 106 / Rs 100

• Fortis Healthcare

  • Short Zone: Rs 905-915
  • Stop Loss: Rs 930
  • Target: Rs 850

Bottom Line: Emkay believes the broader market remains in consolidation, but the technical setup continues to favour midcaps, healthcare, realty, auto and capital market plays, while remaining cautious on FMCG, power and select defensive segments.

Source: Emkay Global Research

 

• Nifty snaps 2 month gaining streak, ends more than 1% lower this month
• Max Healthcare & SBI Life were the top losers in Nifty this month, both down over 7%
• Broader markets outperform benchmark this month
• Nifty Midcap 150 ends in green for the 5th month in a row; up almost 1%
• One97 Communications & Apar Inds were the top gainers in Nifty Midcap 150 this month; both gaining almost 25%
• Nifty Smallcap 250 ends in green for the 5th month in a row; up almost 2.5%
• Welspun Corp & Cyient were the top gainers in Nifty Smallcap 250 this month
• Welspun Corp gained almost 45%; Cyeint gained almost 40% during August
• Nifty Metal is the top performing index this month; gains for the 2nd month in a row; up almost 4%
• Welspun Corp is the top performing stock in Nifty Metal this month; up almost 45%
• Nifty FMCG is the worst performing index this month; down over 5%
• Godrej Cons is the worst performing stock in Nifty FMCG; down over 15% 
• Nifty IT gains for the 2nd month in a row
• Nifty Realty, Nifty Fin Serv snaps 2 month gaining streak
• Nifty Pharma, Nifty Auto gains for the 5th month in a row

• E2E Networks Ltd. has approved raising up to Rs 1,500 crore through various modes, including a Qualified Institutions Placement (QIP), according to an exchange filing.
• The fundraising proposal is aimed at supporting the company's growth plans, capacity expansion and investments in AI and cloud infrastructure.

Key Details

• The board has approved mobilising funds through:
  • Qualified Institutions Placement (QIP)
  • Other permissible securities issuance routes
• The total fundraising size can be up to Rs 1,500 crore.

Why It Matters

• E2E Networks has been expanding its presence in the AI cloud and GPU infrastructure space.

• The proposed capital raise is expected to strengthen the balance sheet and provide resources to meet rising demand for AI computing and cloud services.

• Investors will watch for details on the timing, structure and pricing of the fundraising exercise.

 

• Zomato is set to discontinue its Customer Delight operations in Hyderabad as part of an operational reorganization, sources told NDTV Profit.
• The company is planning to rationalise team size and centralise operations, with the affected functions expected to be handled from its Gurgaon hub.

Key Details

• Around 240 employees are likely to be impacted following the closure of the Hyderabad operations, according to sources.

• Affected employees will receive:

  • A one-time ex-gratia payment
  • Four months' notice pay
  • Continued health insurance coverage until March 31

• Sources said the move is part of a broader effort to reorganise internal operations and improve efficiency.

What It Means

• The restructuring reflects Zomato's ongoing focus on optimizing costs and streamlining operations as it scales its business.
• The Gurgaon center is expected to absorb the responsibilities currently handled by the Hyderabad Customer Delight team.

 

• Ceigall India Ltd. said its subsidiary has commissioned a 5 MW solar power plant in Maharashtra, according to an exchange filing.

• The commissioning marks a step forward in the company's renewable energy initiatives and is expected to support its sustainability and energy-efficiency goals.

• The project has commenced operations and will contribute to the group's renewable energy capacity.

• The company disclosed the development through a regulatory filing.

• The addition of solar power capacity is expected to help reduce dependence on conventional energy sources and support long-term cost optimization.

 

• PL Capital has maintained its 'Buy' rating on Fractal Analytics with a target price of Rs 1,010, implying upside from the current market price of Rs 845.
• The brokerage remains positive on the company's AI-led growth story and improving monetisation of its proprietary platforms.

Key Takeaways

• Fractal Alpha revenue clocked a 63% CAGR between FY23 and FY26, highlighting strong adoption of the company's reusable AI and analytics assets.
• R&D expenditure stood at 6.4% of FY26 revenue, reflecting continued investment in AI platforms and product development.

Enterprise AI Spending Remains Healthy

• According to PL Capital, enterprise clients continue to invest in AI despite macro uncertainties, driven by the need for productivity gains, operational agility and margin improvement.
• Client stickiness remains strong:
  • Net Revenue Retention (NRR): 117%
  • Net Promoter Score (NPS): 78
  • Top-10 and Top-20 accounts delivered 11%-15% YoY USD growth in FY26.

Business Segment Trends

• Healthcare & Life Sciences (HLS), which contributes around 19% of revenue, grew 59% YoY and was a key growth driver.
• The TMT segment (Technology, Media & Telecom), which contributes roughly 25% of revenue, declined around 5% YoY, though the brokerage believes the weakness has largely stabilised.
• Excluding TMT, the rest of Fractal's business delivered 22% YoY USD growth.

Growth Drivers Ahead

• PL Capital expects growth to be supported by:
  • A multi-year contract worth over $17 million with a leading US healthcare enterprise.
  • Wider adoption of Cogentiq, Fractal's enterprise AI platform aimed at standardising delivery, improving productivity and enhancing execution consistency.

Proprietary Platforms Gaining Traction

• Fractal's reusable assets under the Fractal Alpha segment continue to scale:

  • Asper.AI revenue: Rs 67.8 crore
  • Analytics Vidhya revenue: Rs 43.7 crore

• Fractal Alpha revenue grew 43% YoY in USD terms.

• Segment gross margin improved 120 basis points to 71.1% in FY26.

Margin Outlook Improving

• While proprietary platforms remain loss-making at the PAT level due to aggressive investments, losses are narrowing.
• Fractal Alpha's margin loss improved to -35.7% from -40.0% in FY25.
• PL Capital believes improving gross margins and strong revenue growth demonstrate meaningful operating leverage potential over time.

Brokerage View

• PL Capital believes Fractal is well positioned to benefit from rising enterprise AI spending and increasing adoption of proprietary AI assets.
• The brokerage remains constructive on the stock and retains its Buy rating with a target price of Rs 1,010.

 

• Bank of India Mutual Fund has launched the Bank of India Value Fund, an open-ended equity scheme that follows a value investing strategy.
• The New Fund Offer (NFO) opened on Aug. 28, 2026 and will close on Sept. 11, 2026.

Investment Strategy

• The fund aims to generate long-term capital appreciation by investing predominantly in equity and equity-related instruments.
• It will invest across large-, mid- and small-cap stocks while remaining sector agnostic.
• The focus will be on identifying businesses trading below intrinsic value but showing signs of improving fundamentals and growth potential.

Unique 'Rate of Change' Framework

• The fund's investment philosophy is built around Rate of Change (ROCh), which seeks to identify measurable improvements in:

  • Demand
  • Order inflows
  • Output
  • Pricing

• The investment framework follows four stages:

  • Stimulus
  • Rate of Change
  • P&L Transmission
  • ROCE Inflexion

• The strategy seeks to identify companies at an early inflection point where improving business fundamentals can translate into earnings growth and shareholder value creation.

Management Commentary

• Mohit Bhatia, CEO, BOI Investment Managers, said value investing today extends beyond identifying inexpensive stocks and focuses on businesses undergoing fundamental improvements that can drive long-term returns.
• Alok Singh, CIO, BOI Investment Managers, said the fund aims to identify companies where operational improvements flow through to profitability and return ratios, helping investors capture value creation early in the cycle.

Portfolio Construction

• The fund will follow a structured five-stage approach:

  • Identifying opportunities
  • Testing the investment thesis
  • Position sizing after confirmation
  • Harvesting gains as momentum fades
  • Recycling capital into new opportunities

• The strategy is designed to combine traditional value investing with earnings and business-momentum indicators.

 

• Lumino Industries MD Devndra Goel told NDTV Profit that the company plans to deploy a major portion of its IPO proceeds towards debt repayment, which is expected to strengthen the balance sheet and reduce finance costs.

• Goel said the company sees a significant demand opportunity in the conductors segment, driven by ongoing investments in power transmission and distribution infrastructure.

• Management believes Lumino is well positioned to cater to rising demand due to its logistics and execution advantages.

Order Book & Business Mix

• The company's current order book stands at around Rs 3,200 crore, providing strong revenue visibility.
• Lumino expects to continue adding new orders across its product portfolio.
• Around 70% of revenue currently comes from the products business, according to management.

Growth & Capacity Expansion

• Goel said EBITDA margins may not necessarily expand in line with revenue growth as the company prioritises scale and market expansion.
• The focus over the coming years will be on capacity expansion to cater to growing demand across key segments.
• Management remains optimistic about long-term growth prospects supported by rising investments in the power and infrastructure sectors.

 

• Marathon Group Director Kaivalya C. Shah told NDTV Profit that the company is set to launch ready-to-move projects in Parel and Dombivli, while maintaining a healthy inventory of completed homes.

• The company is targeting an EBITDA margin of 35% in FY27, with management emphasizing a disciplined approach to project selection and profitability.

• Shah said Marathon remains extremely selective while acquiring new projects, with a focus on maintaining return ratios and margin profiles.

Expansion & Capital Deployment

• Marathon plans to invest around 10% of total Gross Development Value (GDV) towards new acquisitions.
• The company expects to deploy approximately Rs 200 crore into new projects over the next two quarters.

Launch Pipeline

• Management plans to launch projects with a combined GDV of around Rs 5,000 crore over the next two years.
• Recently acquired projects are expected to be brought to market over the next 5-6 quarters, providing strong medium-term growth visibility.

Outlook

• The company remains optimistic about residential demand and believes its focus on ready inventory, selective acquisitions and disciplined execution will support profitability and growth going forward.

 

• Private Equity and Venture Capital (PE/VC) investments in India reached $4.1 billion across 111 deals in July 2026, making it the second-highest monthly investment tally of the year, according to the EY-IVCA report.
• Investment value was up 52% month-on-month and 3% year-on-year.

Key Highlights

• Buyout deals emerged as the largest investment category, accounting for $1.4 billion in July.
• Infrastructure was the top sector, attracting $1.5 billion, or nearly 37% of total investments.
• Financial Services followed with $649 million, while Food & Agriculture attracted $335 million.

Major Investment Trends

• Large deals accounted for 68% of total PE/VC activity, with 10 transactions worth $2.8 billion.
• The largest transaction was Brookfield's $600 million investment in Lumara.
• Startup investments nearly doubled, rising 90% YoY to $805 million.

Exits Decline Sharply

• PE/VC exits totaled $1.6 billion across 17 transactions in July.
• Exit value declined 83% YoY from July 2025, which had been boosted by large transactions including Temasek's exit from Schneider Electric India.
• Secondary exits accounted for 52% of total exit value.

2026 On Track For Record Fundraising

• India-focused PE/VC funds have already raised $23.7 billion across 56 fundraises in 2026, making it the strongest fundraising year on record, with five months still remaining.
• The total was supported by:
  • Bain Capital's $10.5 billion fund
  • NIIF's $3.2 billion raise
  • Tiger Global's $2.7 billion raise
  • ChrysCapital's $2.2 billion raise

Dry Powder Remains Strong

• According to the report, India-focused AIFs are sitting on nearly $100 billion of dry powder, providing significant ammunition for future deal activity.
• EY said stronger-than-expected corporate earnings, stable RBI policy and resilient macroeconomic conditions continue to support investor sentiment.

EY View

• Vivek Soni, Partner & National Leader, Private Equity Services at EY, said July marked a strong start to the second half of 2026 despite geopolitical uncertainties.
• He expects investment activity to accelerate further as geopolitical risks ease and available capital gets deployed.

Source: EY-IVCA Report

• Marine Electricals has secured an order worth Rs 399 crore for the supply of a Power Distribution System, according to an exchange filing.
• The order is expected to strengthen the company's order book and provide revenue visibility over the execution period.
• The contract underscores Marine Electricals' capabilities in power distribution and electrical systems for infrastructure and industrial applications.
• The company disclosed the order win through a regulatory filing.
• Further details regarding the customer and execution timeline were not immediately available.

 

• A proposal has been floated to remove weekly F&O expiries, according to sources who spoke to NDTV Profit.
• The move is being discussed as part of broader efforts to reduce retail losses in derivatives trading and encourage greater participation in the cash market.

Why The Proposal Is Being Discussed

• Sources said the objective is to redirect capital currently locked in options margins towards cash-market investing.
• Concerns over speculative activity in weekly options contracts have intensified following rising retail participation in derivatives trading.

CAS Volatility Also A Factor

• Sources indicated that sharp volatility and relatively low liquidity in the Closing Auction Session (CAS) have also been cited as factors behind the proposal.
• The discussion comes after the first month of the CAS mechanism saw episodes of significant volatility in closing prices.

SEBI's Focus On Retail Losses

• SEBI has been evaluating multiple measures to address losses incurred by retail traders in the F&O segment.
• According to a recent SEBI study, retail investors incurred losses of Rs 91,685 crore in F&O trading during FY26.

No Change To CAS Framework Expected

• Despite concerns over volatility, CAS is expected to remain in place, with no major changes currently under consideration.
• SEBI Chairman had indicated last week that the Closing Auction Session is here to stay.

What To Watch

• Any formal consultation paper or proposal from SEBI regarding weekly F&O expiries.
• Potential impact on derivatives volumes, brokerages and exchange revenues.
• Whether capital shifts from derivatives into cash-market investing if changes are implemented.

 

• Discussions around defence exports are likely to be on the agenda when Prime Minister Narendra Modi meets Armenian Prime Minister Nikol Pashinyan, sources told NDTV Profit.

• The meeting is expected to focus on strengthening bilateral ties, with defence cooperation emerging as a key area of engagement.

• India is already among the leading defence suppliers to Armenia, having expanded defence exports to the country in recent years through a range of military equipment contracts.

• Sources said the discussions could further strengthen the defence partnership between the two countries and pave the way for deeper cooperation.

• The engagement comes as India continues to push defence exports and expand its footprint in global arms markets under the broader "Make in India" initiative.

• Any fresh progress in defence cooperation could further cement Armenia's position as an important destination for India's defence exports.

 

• Nissan Motor and Honda Motor have concluded a joint development agreement, according to a Bloomberg report.
• The agreement focuses on collaboration in next-generation vehicle technologies as automakers accelerate investments in software-defined vehicles (SDVs).

Key Highlights

• Nissan and Honda have agreed to standardise Electronic Control Units (ECUs) used in future vehicles.
• The two automakers will also collaborate on software standardisation, a key component of the shift toward software-defined vehicles.
• Standardised ECUs are expected to help reduce development costs, improve efficiency and enable faster deployment of new software features.

Why It Matters

• Software-defined vehicles increasingly rely on centralized computing and software updates rather than traditional hardware-driven architectures.

• The partnership is aimed at strengthening both companies' competitiveness in EVs, autonomous driving and connected-car technologies.

• The move reflects a broader industry trend of automakers sharing technology platforms and software development costs amid rising investments in electrification and digitalisation.

• Investors will watch for further details on the scope of the collaboration and its potential impact on future vehicle platforms.

 

The zone of 23,920 – 23,900 will act as a crucial support for the Nifty 50 index while the resistance lies in the zone of 24,180 – 24,200. On the downside, if the index slips below the level of 23,900, then the next support is placed in the zone of 23,770 – 23,750. In an event of a surge above 24,200, the index can experience an extension of the rally towards 24,350, said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.

On the options front, meaningful call writing witnessed across 24,100 & 24,200 strikes. On the put side, 24,000 has a substantial open interest, followed by 23,900 strike.

For Sensex, support is at 76,500 while resistance is at 77,300, added Shah.

Weekly technical picks by Axis Securities:

Ingersoll Rand (India) | Buy Range: Rs 4,850 - Rs 4,754 | Stop Loss: Rs 4,540 | Target Price: Rs 5,325 - Rs 5,410 | Holding Period: 3 to 4 weeks

BEML | Buy Range: Rs 1,980 - Rs 1,942 | Stop Loss: Rs 1,855 | Target Price: Rs 2,170 - Rs 2,230 | Holding Period: 3 to 4 weeks

Genus Power Infrastructures | Buy Range: Rs 349 - Rs 343 | Stop Loss: Rs 323 | Target Price: Rs 390 - Rs 398 | Holding Period: 3 to 4 weeks

Indian IT sector has gone through a near three-year spending recession: weak discretionary budgets, elongated deal cycles, H-1B headwinds, AI driven revenue deflation and a Feb-26 selloff triggered by fears that agentic tooling would automate the legacy stack directly. 

However, brokerage firm Anand Rathi believes that fear inverts the actual set-up. Its core thesis is that the AI cycle is pivoting from “building capacity” to “proving payback” — a transition that is inherently services-heavy and plays squarely to Indian IT’s strengths in deployment, integration, governance and legacy modernisation. 

Value is migrating from the layer that funds the AI build to the layer that deploys it: first to the enterprise software platforms — Systems of Record and Systems of Action that hold the data, permissions and approvals — then to the services firms that integrate and run them. This is the cloud playbook rerun: capex builds first and the returns arrive later, to different players, as railways, fibre and the 2015-19 cloud J-curve all showed, said the brokerage firm.

Anand Rathi’s top picks are Tech Mahindra, LTM and Infosys among large-caps; Persistent Systems and Mphasis in the mid-caps.
 

Systematix Research has initiated coverage on Aptus Value Housing Finance with a ‘Buy’ rating and a target price of Rs 380. The brokerage identifies Aptus as its high-ROE, high-beta play within the affordable housing finance sector, citing its superior return profile, diversified high-yield portfolio and significant re-rating potential.

Systematix believes Aptus is well positioned to benefit from a recovery in growth, supported by branch additions across southern and western markets, deeper penetration in its core franchise and a structurally higher-yielding mix of housing, loan against property (LAP) and small business loans.

Axis Bank’s technical structure has improved after the stock found support in the Rs 1,150 – Rs 1,160 zone. 

“The recent move above the 100-day EMA, support from the ascending trendline and improving weekly RSI indicate strengthening momentum, although traders should monitor price action around the stated accumulation zone,” said Ketan Kaushik - Derivative Analyst at Monarch Networth Capital.

He has Axis Bank share price target of Rs 1,400 - 1,550.

Ather Energy share price rallied over 4% after promoter entity Hero MotoCorp acquired an additional 1.18 crore equity shares, representing a 3.01% stake in the electric two-wheeler maker from the Government of Singapore for Rs 1,758.24 crore.

Broader markets also reeded under selling pressure, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices falling over 1% each.

All the sectoral indices were trading in the red, with the Nifty Media, Nifty Metals, Nifty IT, Nifty Realty, Nifty PSU Bank, Nifty Pharma and Nifty Oil & Gas falling the most.

The Nifty 50 fell as much as 0.74% to the day’s low of 23,997.10. The Sensex declined as much as 0.66% to an intraday low of 76,751.32.

Ratnamani Metals expects orders worth Rs 50-100 crore this financial year, about Rs 600 crore next financial year and Rs 750 crore in FY29, Manoj Sanghvi told NDTV Profit. The company expects some non-nuclear orders this year.

The Kutch unit currently serves nuclear applications and will cater to thermal and data centre projects in the future. Sanghvi said standalone demand remains muted, while disruptions in the Middle East, which accounts for 50% of exports, have raised costs by 30%.

Trust Mutual Fund CIO Mihir Vora told NDTV Profit that mid-cap and small-cap companies have more room for growth, while stock selection remains important in the broader market and NBFC space.

Vora expects private banks to grow faster than public sector banks but is not positive on the banking sector overall. Vora also sees opportunities in new-age discretionary companies and flagged a possible impact from El Niño on lower-end consumption.

Stocks showing accumulation in the dashboard include:

• MCX
• Indus Towers
• Bajaj Auto
• TVS Motor
• HDFC Bank
• CAMS
• Coal India
• NTPC
• ONGC
• REC

JSW MG Motor India appointed Parth Jindal as chairman with immediate effect on August 31. Jindal has served on the company’s board since the joint venture was formed.

The company said Jindal has contributed to its product strategy, manufacturing expansion and localisation programme.

Bank Nifty's since-expiry data shows:

• Last price: 58,214.10
• Price change: -1.53%
• Futures OI: 72,283 contracts, up 13.23%
• Call OI: 411,259 contracts, up 33.19%
• Put OI: 462,391 contracts, up 44.44%
• Total OI: 945,933 contracts, up 36.55%

Nifty's since-expiry dashboard shows:

• Last price: 25,936.20
• Price change: -7.36%
• Futures OI: 263,202 contracts, up 12.78%
• Call OI: 681,211 contracts, up 186.68%
• Put OI: 515,152 contracts, up 128.70%
• Total OI: 1,198,965 contracts, up 150.89%

Total Bank Nifty open interest has increased 36.55% since the last expiry to 945,933 contracts.

The increase includes:

• Futures OI: 13.23%
• Call OI: 33.19%
• Put OI: 44.44%

• HDFC Bank is listed among stocks showing short covering.
• Its futures price is up 1.53%, while open interest has declined 0.20%.

Nifty's open interest change chart shows the largest fresh Call addition at the 24,100 strike.

Other notable Call additions are visible at:

• 24,000
• 24,200
• 24,300

The additions highlight where Call positioning has increased most sharply in the current series.

• National Aluminium is listed in the fresh shorts category.
• Its futures price is down 2.56%, while open interest has increased 113.33%.

Commerce Secretary Rajesh Agrawal concluded a visit to Brazil, Argentina and Chile as India sought to diversify export markets and strengthen access to critical minerals.

In Argentina, the two sides discussed investment in mining, energy and infrastructure. KABIL completed the second phase of drilling for its lithium project in Catamarca, while further mining opportunities are being explored in Salta and Jujuy.

India also sought greater market access for onions, dairy products, grapes, potatoes, bananas and pulses. Argentina agreed to upgrade India’s status under its pharmaceutical framework, while India and MERCOSUR made progress on the terms of reference for trade negotiations.

• Bank Nifty Put open interest has increased 44.44% since the last expiry to 462,391 contracts.
• Call open interest has risen 33.19% to 411,259 contracts, indicating a larger increase in Put positions over the period.

• Siemens is among the stocks classified under long liquidation.
• Its futures price is down 1.72%, while open interest has declined marginally.

Nazara Technologies founder Nitish Mittersain told NDTV Profit that the company will focus on mobile gaming in India and building new games. Mittersain said AI is helping developers create games faster and at lower costs.

New acquisitions will be fully integrated into Nodwin Gaming in the second quarter. Mittersain said Nodwin continues to report revenue growth while remaining profitable.

• The 57,500 strike stands out in Bank Nifty's options distribution, with both Call and Put open interest near the 20-lakh-contract mark.
• The strike is one of the largest concentrations in the current Bank Nifty derivatives setup.

• TVS Motor is listed in the accumulation category.
• The stock's futures price is up 0.48%, while open interest has increased 10%.

• Nifty Call open interest has risen 186.68% since the last expiry to 681,211 contracts.
• The increase in Call OI is larger than the rise in Put OI, which stands at 128.70%.

• Bandhan Bank is among the stocks showing fresh short positions.
• Its futures price is down 1.78%, while open interest has surged 270.53%.

The 24,000 strike holds the largest Put open interest in the Nifty options distribution, at around 19 lakh contracts.

Other sizeable Put positions are concentrated at:

• 24,100
• 23,900
• 23,800
• 23,700

The current distribution makes 24,000 the largest Put positioning level.

• Bharti Airtel is among the stocks showing short covering in the futures market.
• Its futures price is up 0.21%, while open interest has declined 0.06%.

• Bank Nifty futures open interest has increased 13.23% since the last expiry to 72,283 contracts.
• The index's last price is 58,214.10, down 1.53%, according to the dashboard.

• HCL Technologies is listed in the long liquidation bucket.
• Its futures price is down 0.73%, while open interest has also declined marginally.

The 24,100 strike has the highest Call open interest in the current Nifty positioning, at around 22 lakh contracts.

Other sizeable Call positions are visible at:

• 24,200
• 24,300
• 24,500
• 25,000

The concentration places 24,100 at the centre of the current Call positioning.

• MCX is among the stocks showing a long build-up in the futures market.
• The stock's futures price is up 0.68%, while open interest has increased 94.07% to 229 contracts.

• Nifty futures open interest has increased 12.78% since the last expiry, with outstanding positions at 263,202 contracts.
• The index's last price in the dashboard stands at 25,936.20, down 7.36%, while options positioning has also increased.

Funds tracking MSCI indices are set to adjust their portfolios on August 31 before the index changes take effect on September 1.

India’s economy likely expanded by more than 7% in the last quarter, outpacing growth in most major economies.

Augmont Enterprises shares listed at Rs 961 on the NSE, a 21.95% premium to the IPO price of Rs 788. The Rs 825 crore IPO comprised a fresh issue of Rs 620 crore and an offer for sale of Rs 205 crore.

Ratnamani is using its Kutch facility for nuclear applications and plans to expand its use to thermal and data centre projects. The company aims to generate 30% of RFSS revenue from other applications.

Demand in the standalone business remains muted. The Middle East accounts for half of exports, while regional disruptions have increased costs by 30%.

Deven Choksey of KRChoksey said HDFC Bank should appoint a younger leader while retaining the internal management team with mentorship. Choksey sees limited downside in the stock and said he would buy the shares at current levels.

Abizer Diwanji of Neostrat Advisors said the focus should remain on HDFC Bank’s business model rather than an individual. Diwanji added that the recent bond subscription showed support from institutional investors.

David Roche told NDTV Profit that borrowing costs are likely to rise and Brent crude could remain between $85 and $95 per barrel. Roche does not expect a meaningful correction in oil prices for now.

Roche said higher inflation could raise borrowing costs for AI companies and lead to a contraction in valuations. Roche also said higher oil prices would be negative for India.

About 1.01 crore Northern Arc Capital shares changed hands in two block trades, representing 6.25% of the company’s equity. Buyers and sellers were not known immediately.

Piramal Finance allotted 99,52,606 shares at Rs 2,110 each through a qualified institutional placement, raising about Rs 2,100 crore. Domestic mutual funds and global investors participated in the issue.

The board also approved issuing warrants worth about Rs 1,750 crore to a promoter group entity. The two transactions will together bring in about Rs 3,850 crore in equity capital.

• Welspun Enterprises fell 10% to Rs 89.82, while OAL declined 7.52% to Rs 451.10.
• ZF India dropped 7.10% to Rs 94.30, while MMP Industries lost 6.48% to Rs 378.20.
• JDP fell 6.40% to Rs 630, while Rhetan TMT declined 5.42% to Rs 19.21.

Augmont Gold surged 21.32%, while BGD Labs gained 19.99%. SGRL and Lokesh Machines rose 16.10% and 13.65%, respectively.

Innovision, Associated Alcohols, BODL and KOP also advanced more than 11% each.

Dabur India traded at its 52-week low of Rs 381, while Godrej Consumer Products touched Rs 905.30.

Housing and Urban Development Corporation, Indian Railway Finance Corporation and ITC also traded at their 52-week lows.

• Ather Energy reached a 52-week high of Rs 1,675.
• Bajaj Auto touched Rs 12,040, while Coforge hit Rs 2,021.95.
• Laurus Labs rose to a 52-week high of Rs 1,949.

Hindustan Aeronautics fell 2.93%, while Tata Steel declined 2.33%. JSW Steel and Infosys dropped more than 2% each.

Wipro, Bajaj Finance and SBI Life Insurance also fell more than 1.5%.

Ddev Plastiks rose 0.89% as 76.45 million shares changed hands, while PTC India gained 1.10% on volume of 48.49 million shares.

HDFC Bank advanced 2.18% with 16.96 million shares traded. Northern Arc Capital climbed 8.47% as trading volume reached 15.74 million shares.

• Northern Arc Capital rose 8.19%, while ASBL gained 7.41%.
• NIACL advanced 5.96%, while MRGT, UEL and QPOWER climbed 5% each.
• GTB gained 4.70%, SEL rose 4.61% and Taril Industries added 4.40%.

HDFC Bank shares gained as much as 2% to Rs 734.55 after Managing Director and CEO Sashidhar Jagdishan decided not to seek reappointment. Jagdishan will step down at the close of business on Oct. 26, 2026.

HDFC Bank added 31.5 points to the Nifty 50, the highest positive contribution. Eternal and ICICI Bank added 7.69 points and 6.04 points, respectively.

Reliance Industries dragged the index by 20.5 points, followed by Infosys at 16.13 points and Larsen & Toubro at 11.54 points.

The Nifty 50 rose as much as 0.6% to 24,038.40. The Sensex fell as much as 368 points, or 0.5%, to 76,896.

A wide range of companies are holding annual general meetings today, including Maruti Suzuki, Coal India, Ather Energy, Indian Oil Corporation, ONGC, IDFC First Bank, KPIT Technologies, SBI Card and Payment Services, Muthoot Finance and NALCO.

Jefferies maintained its Buy rating on Adani Ports with a target price of Rs 2,160, citing India's transshipment opportunity and the company's position to benefit from it.

• Maintain Buy.
• Target price at Rs 2,160.
• Highlights Vizhinjam's strategic location, deep draft, operating strengths and MSC partnership.

HSBC highlighted the growth opportunity in jewellery demand and retained Buy ratings on Titan and Kalyan Jewellers.

• Titan: Maintain Buy with target price of Rs 5,550.
• Kalyan: Maintain Buy with target price of Rs 770.
• Highlights the high-growth phase in daily-wear jewellery and faster growth in B2B manufacturing.

UBS maintained its Buy rating on TVS Motor with a target price of Rs 4,925, focusing on the company's leadership transition and global growth ambitions.

• Maintain Buy.
• Target price at Rs 4,925.
• Says the transition balances strategic continuity with global growth ambitions.
• Says the domestic franchise remains anchored by proven leadership.

Nomura initiated coverage on Clean Max with a Buy rating and target price of Rs 1,510, citing the company's commercial and industrial clean-energy opportunity.

• Initiate Buy.
• Target price at Rs 1,510.
• Estimates 39% revenue CAGR and 50% EBITDA CAGR over FY26-29.
• Highlights tariff arbitrage and capital-efficient structuring.

The Indian rupee opened at 95.49 against the US dollar on Monday, compared with its previous close of 95.38.

Nomura initiated coverage on Lenskart with a Buy rating and target price of Rs 888, citing its scalable business model and store expansion opportunity.

• Initiate Buy.
• Target price at Rs 888.
• Says more than 10,000 stores have been mapped in India, with only 27% of the potential opened.
• Forecasts long-term steady EBITDA margin of 25% before Ind AS.

HSBC and BofA initiated coverage on SBI Funds with Buy ratings, highlighting the asset manager's distribution franchise and financialisation opportunity.

HSBC

• Initiate Buy with target price of Rs 660.
• Says strong distribution capabilities could mitigate pressure from AUM market share losses.
• Expects 17% EPS CAGR over FY26-29.

BofA

• Initiate Buy with target price of Rs 685.
• Says the franchise strength is yet to be fully monetised.
• Expects 18% PAT CAGR over FY26-29.

Alpha Wave Ventures entities sold a combined 2.95 crore shares of Lenskart Solutions at Rs 630 per share, with several institutional investors among the buyers.

Hero MotoCorp bought 1.19 crore shares of Ather Energy at Rs 1,480 per share from the Government of Singapore in a significant block deal.

Several companies have scheduled board meetings for important corporate actions, including fundraising and a possible buyback.

• Apollo Pipes: To decide on fundraising.
• PVR INOX: To consider a buyback of equity shares having face value of Rs 10.
• Virtuoso Optoelectronics: To consider fundraising through equity shares or a preferential issue.
• Kiri Industries: To decide on fundraising.
• Can Fin Homes: To consider fundraising through debentures on a private placement basis.

Fresh equity and institutional fundraising developments could keep Gujarat Themis Biosyn and Piramal Finance in focus after both companies completed major capital-raising exercises.

Oil and gas ancillary stocks could be in focus after ONGC explored a drillship acquisition or joint venture to build deepwater capacity under Samudra Manthan.

Power cable companies could draw attention after Gujarat outlined plans to remove overhead electricity wires in urban areas and shift them underground by 2030.

Clean Max Enviro signed a term sheet with Envision Energy to procure 1,550 MW of wind power projects.

Tata Chemicals arm TCNA signed contracts with SVM for soda ash worth $21.26 million.

The US FDA completed an inspection of Apitoria Pharma's Unit-IV in Andhra Pradesh and issued three procedural observations in Form 483.

The US FDA classified its inspection of three Cipla manufacturing units in New York as Voluntary Action Indicated, while the regulator also withdrew an order on the company's arm following a Bombay High Court decision.

SpiceJet temporarily halted Boeing 737 MAX operations because of certain leasing disputes, creating an operational trigger for the airline.

Canara Bank approved the sale of its 70% stake in Vidvedaa for Rs 80.5 crore.

Can Fin Homes approved raising up to Rs 5,000 crore through NCDs, providing a significant funding update for the housing finance company.

Aster DM Healthcare arm Chemistry Intermediate Holdings acquired STS Holdings for $44.1 million in Bangladesh.

Power Grid acquired Fatehgarh II Transmission for Rs 19.11 crore, expanding its transmission portfolio.

AXISCADES Technologies plans to acquire a 90% stake in Cloud Wave Technologies for Rs 234 crore.

Waaree Energies plans capital expenditure of $37 million for a US facility and is also consolidating its domestic plants.

Avantel received an order worth Rs 118 crore from DRDO and the Defence Ministry, putting the defence electronics company in focus.

Ashoka Buildcon received an order worth Rs 602 crore from Rail Vikas Nigam, adding to its order pipeline.

Oil India arm Oil Green Energy signed an MoU with the Haryana government for four integrated waste-to-clean-energy projects.

Citi maintained its Buy rating on IGL after the CNG price increase, saying the move could help arrest margin erosion.

• Maintain Buy.
• Target price at Rs 180.
• Says the increase could lift blended realisations by Rs 1.8 per scm.
• Says all three CGDs have implemented cumulative CNG price hikes of 15-16%.
• Notes near-term gas costs may remain elevated.

Indraprastha Gas increased CNG prices by Rs 3.89 per kg, making the pricing move a key development for margins and demand.

Ola Electric secured Rs 95.8 crore under the PLI-Auto scheme, providing a fresh policy-linked development for the EV maker.

Gujarat Themis Biosyn closed its QIP and approved the allotment of 2.1 crore shares at Rs 354 per share.

Piramal Finance closed its QIP and allotted 99.5 lakh shares at Rs 2,110 per share, raising fresh capital through the institutional placement.

Max Estates plans to acquire a land parcel in Delhi with a gross development value of more than Rs 10,000 crore to Rs 12,000 crore and issue shares worth Rs 420 crore at Rs 597.5 per share.

Sterlite Technologies signed a long-term contract worth $288 million with a leading hyperscaler, adding a significant order development for the company.

State Bank of India and its arm plan to dilute up to a 1% stake in NSE through a public offer, creating a fresh capital-market trigger.

JPMorgan maintained an Overweight rating on Ather Energy and raised its target price to Rs 1,850 from Rs 1,570, citing the company's expansion into the mass EV segment and new technology initiatives.

• Maintain Overweight.
• Target price raised to Rs 1,850 from Rs 1,570.
• Says Konarc marks Ather's entry into the mass EV segment.
• Highlights Bedrock battery technology, Ather True Health and new ownership features.

Hero MotoCorp completed the acquisition of 1.19 lakh shares of Ather Energy for Rs 1,758 crore, strengthening its investment in the electric two-wheeler maker.

Knowledge Realty Trust has launched an offer for sale worth Rs 12,000 crore, marking a major capital-market development for the day.

Reliance Industries could remain in focus after Jio Platforms received SEBI's observation letter on the DRHP filed for its proposed IPO.

Brokerages broadly retained positive ratings on HDFC Bank but flagged succession and the speed of the transition as key factors for the stock.

Citi

• Maintain Buy with target price of Rs 970.
• Says the CEO appointment represents a binary catalyst with near-term risk and medium-to-long-term re-rating potential.
• Says current valuations offer a reasonable margin of safety.

Morgan Stanley

• Maintain Overweight with target price of Rs 1,025.
• Says the reappointment issue had been an overhang on the stock.
• Says a timely conclusion will be key to returning investor focus to fundamentals.

Nuvama

• Maintain Buy with target price of Rs 875.
• Says credible succession and a smooth transition will be key for re-rating.
• Flags both internal and external succession possibilities.

JPMorgan

• Maintain Overweight with target price of Rs 990.
• Says the transition adds near-term uncertainty but sees limited de-rating risk at current levels.
• Says NII growth revival remains critical for investor confidence.

Kotak Securities

• Maintain Buy with target price of Rs 1,050.
• Says the next CEO must combine execution capabilities with a credible roadmap to improve margins and profitability.
• Expects leadership uncertainty to keep valuation multiples below historical levels in the near term.

The Dow was on track for a fifth straight monthly gain, rising 2.1% in August. The S&P 500 gained 3%, while the Nasdaq Composite advanced 4%, with both indices heading for their first monthly gains since May.

The Dow and S&P 500 touched record highs earlier in August before geopolitical and monetary policy concerns returned to focus.

Brent crude rose 1.4% to $89.30 a barrel after the US struck Iranian rocket launchers on Larak Island in the Strait of Hormuz. The action renewed concerns over an escalation in the conflict after weeks of relative calm.

South Korea’s Kospi fell 3.06%, while Japan’s Nikkei 225 declined 2.07%. Australia’s S&P/ASX 200 was little changed.

The declines followed Federal Reserve Chair Kevin Warsh’s remarks, which strengthened expectations of an interest-rate increase next month.

HDFC Bank Managing Director and CEO Sashidhar Jagdishan has decided not to seek reappointment and will retire at the close of business on Oct. 26, 2026. The bank’s board will fast-track the selection and appointment of his successor.

GIFT Nifty traded at 24,217, down 124.90 points, indicating a gap-down start for Indian equities. Asian markets declined as investors tracked geopolitical concerns.