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Informist, Thursday, Aug. 20, 2026

 

By Arundathi A R

 

MUMBAI – Domestic equity indices are expected to remain higher after they saw a sharp recovery on Thursday. Analysts see cooling of US bond yields following steps by the US Treasury to stabilise the bond market as the major trigger that resulted in the rebound despite crude oil prices escalating to $94 a barrel.

 

The US Treasury Department announced a larger debt buyback operation after yields rose to new highs this week. Following the announcement, the 10-year US Treasury yield fell more than 6 basis points to settle at 4.690%. On Tuesday, the yield had hit a more-than-one-year high of 4.7520%.

 

US President Donald Trump Wednesday announced a "crushing economic operation" on Iran, one he said would amount to "economic warfare", CBS News reported. At 1625 IST, the October delivery of Brent crude oil was over 2% higher at $93.86 a barrel.

 

"The index staged a recovery after finding support at a critical level," Rupak De, senior technical analyst at LKP Securities, said in a note. "In fact, the Nifty (50) closed meaningfully higher than the previous close for the first time in the last thirteen sessions. On the daily timeframe, the index has reclaimed the 50EMA, indicating an improvement in the short-term trend. The hourly RSI is in a bullish crossover. Overall, the short-term sentiment looks positive, and the Nifty is expected to move towards higher levels. On the higher end, resistance is seen at 24350/24500, while on the lower end, support is placed at 24150," he said.

 

At the end of the continuous trading session on exchanges at 1515 IST, the Nifty 50 was at 24211.60 points, up 0.6% from Tuesday. The BSE Sensex was at 77485.29 points, up 0.8%. After the closing auction session, the Nifty 50 ended at 24231.85, up 153.55 points or 0.6%. The Sensex ended at 77537.72, up 628.04 points or 0.8%.

 

"Post-Q1FY27(Apr-Jun), our Nifty 50 EPS (earnings per share) estimates are down 0.4% for FY27 and up 0.3% for FY28," JM Financial said in a strategy report. According to the brokerage firm, the EPS growth for FY27 was 15.2% and that for FY28 17.6%. "With 12.9?nked in Q1, the ask for the remaining nine months is 16.7% — demanding and concentrated in Metals & Mining , Automobiles, NBFCs and Telecom," it said in the report.

 

The Indian rupee Thursday settled at 95.7050 against the dollar. "Going forward, the rupee will continue to take cues from dollar movement, crude prices and FII flows," Jateen Trivedi, commodity and currency research analyst at LKP Securitis, said in a note. "Technically, the rupee is expected to trade in the 95.40–95.90 range."

 

Foreign institutional investors net bought equity shares worth INR 4.08 billion Thursday, while domestic investors invested shares worth INR 39.74 billion. Foreign investors continued buying for the second straight session, while domestic investors continued for the seventh straight session.  End

 

US$1 = INR 95.7050

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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