Stock Market Highlights: Sensex Drops For Fourth Straight Session, Nifty Slips Below 23,900; IT, FMCG Top Drags

Nifty Realty is the top gaining sector, up over 2.5%
Brigade Enterprises and Anant Raj are the top gainers
Brigade Enterprises up nearly 13.28%, Anant Raj up 6.7%

Nifty IT is the worst performing sector, down nearly 1%
Tech Mahindra and TCS are the top losers; Both down over 1.2%

Nifty Energy, Nifty PSU Bank, Nifty Realty gains for second session
Nifty Pharma declines for third straight session
Nifty Bank, Nifty Financial Services snaps two-session losing streak

Nifty Metal snaps three session losing streak
Nifty IT, Nifty FMCG falls for second consecutive session
Nifty Auto continues to decline for seventh session

Nifty Sees A Downtick Of 31 Pts Due To CAS
Nifty Bank Sees A Downtick Of 53 Pts Due To CAS
Midcap 150 Sees A Spike Of 22 Pts Due To CAS
Sensex Sees A Downtick Of 401 Pts Due To CAS

Nifty 50 benchmark settles in red, down 0.17%
Bajaj Auto and Tech Mahindra are the worst performing stocks; Both down over 1.5%
Nifty declines for fourth straight session
Broader Indices outperforms Benchmark Indices

Nifty Midcap 150 closes in green, up 0.46%
Nifty Midcap 150 snaps 2 session losing streak
Apar Industries and Bank of Maharashtra are the top gaining stocks
Apar Inds up over 5%, Bank of Maharashtra up over 4.7%

Nifty Smallcap 250 closes in green, up 1.03%
Nifty Smallcap 250 snaps 3 session losing streak
Brigade Enterprises and Jyoti CNC Automation are the top gainers
Brigade Enterprises up nearly 13.2%, Jyoti CNC up over 7%
Sectoral indices ends in Green, except Nifty Pharma, Auto, FMCG and IT

Nifty 50 At 23,873 Vs 23,904 At 3:15 PM
Sensex At 76,153 Vs 76,554 At 3:15 PM 
Sensex Sees A Downtick Of 401 Pts Due To CAS 
Nifty Sees A Downtick Of 31 Pts Due To CAS 
Nifty Bank Now At 57,381 Vs 57,434 At 3:15 PM  
Nifty Bank Sees A Downtick Of 53 Pts Due To CAS 
Nifty Midcap 150 At 23,222 Vs 23,200 At 3:15 PM 
Midcap 150 Sees A Spike Of 22 Pts Due To CAS

• The yen extended gains on Thursday after a sudden burst higher in the previous session, though traders stopped short of attributing the move to intervention by Japanese authorities and instead pointed to rising bets on Bank of Japan rate hikes.
• The yen rose almost 1.5% to a high of 156.36 per dollar, its strongest in a month, extending its 0.9% jump overnight. Markets were on alert for any official intervention from Tokyo, though analysts suggested the move was more orderly than is typically the case when Tokyo steps in.

• Russian President Vladimir Putin said Russia and Ukraine must first reach an agreement between themselves, according to Bloomberg.

• Putin said Ukraine's threats are complicating the prospects for possible negotiations.

• The Russian President said contacts between Russia and the US administration are continuing.

• Putin also said China has consistently urged Russia to reach a peaceful agreement.

 

• Saatvik Green Energy has secured an order worth Rs 298 crore for the supply of solar PV modules, according to an exchange filing.

 

• Adani Total Gas Ltd. has appointed Preyash Jhaveri as Chief Financial Officer (CFO), according to an exchange filing.

• Mukka Proteins MD & CEO Mohammad Haris told NDTV Profit that the company expects EBITDA margins to expand to 10%-12%.

• Gross margins are likely to be around 20% in FY27.

• The company believes Black Soldier Fly meal could emerge as a substitute for fish meal.

• Mukka Proteins will continue to focus on its fish meal business in Oman and the Middle East.

• The company plans to set up new units for frozen fish.

• Management said fish meal remains one of the core components of its business.

• Mukka Proteins aims to expand into new pincodes across India.

• Compost generated by the company is being used as animal feed.

• The company is currently treating 500-1,000 tonnes of solid waste in Bengaluru.

• Mukka Proteins said it has been awarded projects worth Rs 485 crore.

 

• Ceigall India has received a Letter of Intent (LoI) worth Rs 609 crore from REC Power Development & Consultancy Ltd. (RECPDCL), according to an exchange filing.
• The LoI is for a transmission system project.

Alert: LoI stands for Letter of Intent.

 

• Balkrishna Industries' board has approved raising Rs 550 crore through Non-Convertible Debentures (NCDs) on a private placement basis, according to an exchange filing.

 

• MCX Silver December futures gained 1% to Rs 2.39 lakh per kg.
• MCX Gold October futures advanced 1% to Rs 1.54 lakh per 10 grams.

 

• Lohia Corp CFO Anupam Agarwal told NDTV Profit that the company believes it can achieve Rs 2,500 crore revenue in the next two years.
• The company can achieve this revenue target without any major capex expansion, according to management.

Operations & Capacity

• Kanpur remains the company's highest capacity-utilisation plant.
• The company has built infrastructure for multiple units in Uttar Pradesh.
• Order execution has improved so far in FY27.

Technology & Automation

• Lohia Corp is working on technologies to improve automation.
• Management said skilled labour availability could become a challenge in the future.
• The company has set up a digital transformation centre in Bengaluru.
• It is also looking to increase its focus on R&D.

Exports & Demand

• 45%-55% of revenue comes from exports.
• Geopolitical concerns impacted exports.
• Management remains hopeful of strong growth in technical textiles.
• The company expects healthy growth in woven raffia orders, a key business segment.

Acquisitions & Sustainability

• Acquisitions in the US and Italy are delivering cost benefits.
• The company said improving plastic recycling remains an important focus area.
• Management flagged negative perception around plastics as a concern for the industry.

 

• Suven Life Sciences has announced the completion of patient enrollment for the clinical study of its Alzheimer's disease drug candidate Masupridine, according to an exchange filing.
• The completion of enrollment marks a key milestone in the ongoing testing and development of Masupridine.
• The company disclosed the update through a regulatory filing.

 

• SpiceJet has finalised lease agreements for 20 aircraft ahead of the winter schedule, according to a press release.

• The airline will induct 15 Boeing aircraft and five Airbus aircraft.

• The aircraft will be inducted between mid-October and mid-November.

• SpiceJet will acquire the aircraft under damp lease and wet lease agreements.

• The five Airbus aircraft will include the A321 variant.

• The airline is targeting 200 daily flights for the upcoming holiday season and winter schedule.

 

• Gaura Sengupta, Chief Economist at IDFC First Bank, told NDTV Profit that 19% bank credit growth reflects strong economic resilience.

• She said the recent growth pickup is not merely the result of statistical changes in GDP calculations.

• Sengupta noted that the previous methodology would have artificially depressed growth figures.

• The statistical change was introduced to better assess whether output growth is exceeding input growth.

• She added that the revision is important given elevated input costs across sectors.

RBI & Currency Outlook

• Sengupta said the RBI's objective is to stabilize the currency and support capital inflows.
• The central bank is also seeking to influence a change in hedging behavior among market participants.
• According to her, RBI intervention in the forex market has increased.

FCNR(B) Impact

• Strong FCNR(B) inflows are expected to enhance the RBI's foreign exchange position.
• Sengupta said the RBI's "forex firepower" will strengthen further as these inflows continue.

 

• Vinay Jaising of ASK Private Wealth said he had expected FCNR(B) inflows of up to $50 billion.

• He noted that FCNR(B) inflows have exceeded expectations.

• Jaising said India's liquidity crisis is now behind it.

• FCNR(B) inflows are expected to increase liquidity in the banking system.

• He expects India's forex reserves to rise amid strong inflows.

• According to him, rupee appreciation could persist for some time.

• Jaising said robust inflows reflect India's economic resilience and growth.

• He expects credit and loan growth to reach 16%.

• He added that consumption and capex are likely to be key growth drivers.

• FII flows into Indian equities are improving, while concerns around currency, earnings and tariffs have largely been addressed.

• However, he flagged high crude oil prices as an area of concern.

 

• Maruti Suzuki management told NDTV Profit that the company witnessed very healthy sales in the Kerala market during Onam.

• The company has commissioned two production lines of 2.5 lakh units each.

• Management said the new lines will take time to achieve full utilisation.

• Maruti Suzuki said it does not want to pass on the entire cost increase to customers.

• The company plans to pass on only the minimum possible cost impact to customers.

• However, management said it cannot absorb rising commodity costs indefinitely.

• August had three fewer working days than July.

• The lower number of working days impacted domestic sales in August.

• Maruti Suzuki reiterated that it does not intend to place a significant burden on customers through price increases.

• Management said EV penetration is unlikely to exceed 16%-17% by 2030.

 

• Solex Energy has secured an order worth Rs 75 crore for the supply of solar photovoltaic (PV) modules from domestic entities, according to an exchange filing.

 

• Indian Bank MD & CEO Binod Kumar said the bank has revised its credit growth expectation to around 16%.

• The bank is currently seeing credit growth of 18%.

• Kumar said future credit growth will be funded through CASA deposits and bulk deposits.

FCNR(B) Update

• The bank had targeted FCNR(B) inflows of up to $2 billion.
• It has achieved FCNR(B) inflows of $2.4 billion.
• Around 40% of FCNR(B) deposits are leveraged.

Margins

• Management said there will not be a significant implication on Net Interest Income (NII) and Net Interest Margins (NIM) from the FCNR(B) inflows.

Lending Demand

• The bank is witnessing healthy lending demand from the green energy and data centre sectors.

 

• Raymond Group Chairman & MD Gautam Singhania, speaking at the NAREDCO Maharashtra Real Estate & Infrastructure Investors Summit 2026, said Prime Minister Narendra Modi has made significant efforts to take infrastructure development to the next level.

• Singhania said project approvals in the real estate sector are much faster today than before.

• He noted that corporate credibility and government action are working together, creating a win-win situation for customers.

• According to Singhania, India's real estate growth story is only just getting started.

• He added that corporate developers are providing the scale required for the next phase of growth in the real estate sector.

 

• EMS Ltd. has emerged as the lowest bidder (L1) for a sewerage project worth Rs 219 crore in Rajasthan, according to an exchange filing.

 

• CleanMax MD Kuldeep Jain told NDTV Profit that the company is working towards resolving curtailment issues and is also pursuing approvals for a new storage plant.

• The company said most of its growth is coming from state grids.

• Around 87% of its capacity is located in no-curtailment state grids.

• Jain highlighted that only 7% of corporate energy demand is currently being met through clean energy, indicating significant headroom for growth.

• The company aims to add 1,500 MW of energy capacity annually.

• CleanMax said renewable energy sales have negligible input costs, aiding business economics.

• Management is focused on growing both its high-margin and low-margin businesses.

• A higher contribution from lower-margin businesses supported overall growth.

• Margins expanded in both the energy and equipment sales segments.

• Data centres and AI-related customers account for 42% of the company's overall business, according to management.

 

• Garden Reach Shipbuilders & Engineers (GRSE) has signed an MoU with DNV for collaboration in warship design and marine engineering, according to an exchange filing.
• The company has also signed an MoU with Damen for the construction of dredgers.

 

• North America Class 8 truck orders stood at 16,800 units in August 2026, according to ACT Research.

• Orders declined 26% month-on-month.

• On a seasonally adjusted basis, preliminary net orders fell 35% month-on-month.

• Class 8 net orders remained below the five-year average.

• August 2026 orders were the lowest since September 2025, according to the report.

• Bharat Forge and RK Forgings could remain in focus following the decline in North American Class 8 truck orders.

Source: ACT Research

• Nuvama Institutional Equities has maintained its 'Buy' rating on Page Industries with a target price of Rs 46,201.

• The brokerage said the arbitration claim from a Middle East distributor amounting to AED 114 million is largely behind the company.

• Nuvama believes the lost sales from Q1 are likely to flow into Q2.

• The brokerage noted that management is well within its rights to change distributors.

• While the arbitration process may continue for some time, Nuvama expects the matter to be settled for a significantly lower amount, if at all.

• According to the brokerage, a new distributor may already have been onboarded, with the transition likely delayed by the Middle East crisis rather than being abandoned.

 

• HSBC India Services PMI rose to 54.1 in August, compared with 53.3 in July.
• HSBC India Composite PMI remained unchanged at 54.3 in August.

 

• The rupee gave up its opening gains and was trading near the day's low.
• Earlier in the session, the rupee touched an intraday high of 94.27 per US dollar.
• The rupee has strengthened 0.7% so far this week.
• The domestic currency has appreciated 1.3% over the last two weeks.
• The rupee advanced earlier in the day following strong FCNR(B) inflows.

 

• The Reserve Bank of India (RBI) absorbed Rs 5.2 lakh crore liquidity through an overnight Variable Reverse Repo Rate (VRRR) auction.
• The Weighted Average Call Rate (WACR) for the overnight reverse repo stood at 5.24%.

Alerts

• VRRR: Variable Reverse Repo Rate Auction
• WACR: Weighted Average Call Rate

 

• GQG Partners has sold a 1.63% stake in Adani Energy Solutions through an open market transaction, according to an exchange filing.
• Following the stake sale, GQG Partners' holding in the company has declined to 3.46%.

 

• Tata Trusts said the Charity Commissioner has dismissed the allegations related to the transfer of shares from the Naval Ratan Tata Trust (NRTT).

• The Trust said it has received an order concerning the transfer of shares by NRTT.

• According to Tata Trusts, the allegations regarding the share transfer are baseless.

• The matter pertains to the transfer of 833 shares of Tata Sons from NRTT to Naval Tata in 1989.

 

• India Ratings and Research (Ind-Ra) has upgraded the rating on JSW Steel's Non-Convertible Debentures (NCDs) to 'AA '.
• The rating agency has assigned a Stable Outlook to the upgraded rating, according to an exchange filing.

 

Lumino Industries shares made a strong debut in the Indian stock market today. The stock was listed at Rs 110 apiece on the NSE, a premium of 34.15% to the issue price of Rs 82 per share.

On BSE, Lumino Industries shares were listed with 32.93% premium at Rs 109 apiece.

Adani Ports & SEZ, Axis Bank, Coal India, ICICI Bank and HDFC Bank were the top gainers on the Nifty 50 index, while Tech Mahindra, Infosys, HCL Technologies, InterGlobe Aviation and TCS were the top index losers.

Gold and silver prices in India traded sharply higher on the MCX. Gold rate gained by Rs 1,348, or 0.88%, to Rs 1,53,750 per 10 grams. Silver price traded at Rs 2,38,750 per kg, up by Rs 2,484, or 1.05%.

IT stocks traded lower despite a positive trend in the broader Indian stock market today. The benchmark Nifty IT index declined as 1.5%, with all its constituents trading in the red.

Coforge, Persistent Systems, Tech Mahindra, HCL Technologies, LTM and Infosys were the top losers on the Nifty IT index.

The Indian rupee posted its sharpest single day gains in weeks.

Broader markets also witnessed decent buying, as the Nifty Smallcap 100 and the Nifty Midcap 100 indices gained over half a percent each.

Broader markets also witnessed decent buying, as the Nifty Smallcap 100 and the Nifty Midcap 100 indices gained over half a percent each.

Nifty PSU Bank, Nifty Metals, Nifty Media and Nifty Realty, while Nifty IT, Nifty FMCG and Nifty Auto sectors reeled under selling pressure.

The Indian stock market opened higher on Thursday, following gains in global markets, and strengthening rupee.

The Sensex opened 154.60 points, or 0.20%, higher at 76,724.95, while the Nifty 50 was up 83.50 points, or 0.35%, at 23,997.95 at open. The Bank Nifty index opened at 57,497.85, up by 325.85 points, or 0.57%.
 

Indian bond yields eased. The benchmark 10-year bond yield fell to 6.9394% from 6.9754% in the previous session.

The Indian rupee appreciated 0.7% to open at two-months high after robust FCNR(B) inflows. Rupee opened 67 paise higher at 94.30 per US dollar as against Wednesday’s close of 94.97.

Meesho share price will be in focus after a large chunk of shares changed hands in a block deal. Around 7.9 crore shares of the company, representing 1.73% equity stake, were traded in four block deals. 

Gold prices firmed on Thursday as the US dollar and Treasury yields eased, while investors strapped in for US nonfarm payrolls data that could help shape expectations for the Federal Reserve's next policy move. Spot gold rose 0.5% to $4,409.97 per ounce after hitting a near one-month low in the previous session. 

US gold futures gained 0.9% to $4,455.30. The US dollar was under pressure while US Treasury yields slipped from multi-year highs. A softer dollar makes greenback-priced metals less expensive for holders of other currencies.

Top picks by market analysts include BEML Ltd., Aegis Vopak Terminals Ltd., and Punjab National Bank. The suggested trading strategies encompass entry levels, price targets for upside potential and stop-loss limits to manage downside risk.

BEML: Target Price: Rs 2,160

Mangalore Refinery and Petrochemicals: Target Price: Rs 180 and Rs 190

The New India Assurance Company: Target Price: Rs 240\

Aegis Vopak: Target Price: Rs 350

Punjab National Bank: Target Price: Rs 128
 

Bank Nifty continues to exhibit a weak technical structure after slipping below its key 20-day and 50-day EMAs. On the upside, the 57,500–57,600 region remains the key resistance zone. A sustained move above this band would be required to stabilize the near-term structure and could pave the way for an advance towards the 58,000 mark. Until the index reclaims this zone decisively, recovery attempts are likely to face selling pressure, said Ponmudi R, CEO of Enrich Money. 

On the downside, the 56,800–56,600 region remains the important support band and a crucial downside cushion. A decisive break below 56,600 could intensify selling pressure and expose the index to further lower levels. Overall, the near-term technical outlook remains cautious-to-weak, he added.

From a Derivatives perspective, the option chain continues to reflect a call-heavy structure, with total Call Open Interest at 14.77 crore compared with Put Open Interest of 10.75 crore. Call writers remain active at higher strikes around 24,000-24,200, creating an immediate supply zone for the index. Meanwhile, put writers have built notable positions around 23,800, followed by 23,500, providing a support base beneath the current recovery zone, said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Overall, Nifty’s sharp recovery and hammer formation indicate buying interest from lower levels, but the sustainability of this rebound will depend on follow-through strength. A sustained move above yesterday’s high could trigger short covering towards 24,150 – 24,200, while failure to maintain the recovery may keep the index within its broader corrective structure, he added.

Nifty 50 formed a small green candle on the daily chart with minor lower shadow, and the opening downside gap has been filled partially. 

“Technically, this market action signals minor buying at the lower support of 23,800 (previous opening upside gap of 27th July), but still there is no confirmation of any bottom reversal in the market. The overall trend of Nifty remains weak. The ongoing bearish pattern like lower tops and bottoms signal sell on rise opportunity on any pullback from here,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

Hence, he believes any bounce back from here could find strong overhead resistance around 24,100 – 24,200 levels. However, further weakness below 23,800 could drag Nifty 50 down to the next important support of 23,600 in the near term.

US stock market ended higher on Wednesday, on value buying at lower levels, after three straight sessions of losses.

The Dow Jones Industrial Average gained 295.01 points, or 0.56%, to 53,061.89, while the S&P 500 rose 35.16 points, or 0.46%, to 7,666.63. The Nasdaq Composite closed 118.05 points, or 0.45%, higher at 26,217.83.

Asian stock market traded mixed. Japan’s Nikkei 225 rose 0.23%, while the Topix gained 0.85%. South Korea’s Kospi rallied over 1%, while the Kosdaq traded lower. Hong Kong’s Hang Seng index futures indicated a slightly higher opening.

The trends on Gift Nifty also signal a positive start for the Indian benchmark indices, Nifty 50 and Sensex, today. The Gift Nifty was trading around 24,084 level, a premium of nearly 84 points from the Nifty futures’ previous close. 

The Indian stock market is likely to open in the green on Thursday, September 3, tracking gains in global equities. Asian markets traded higher, while the US stock market ended in the green, snapping three-day losing streak.