Equity Alert
Major Asian markets end higher; but most fall on weekly basis
This story was originally published at 15:00 IST on 21 August 2026
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Equity Alert: Major Asian mkts end higher; but most fall on weekly basis
MUMBAI--1420 IST--Most Asian indices closed higher Friday but fell on a weekly basis as global bond yields rose and the US-Iran war pushed crude oil prices higher, stoking inflationary risks. US treasury yields continued to rise even after US Treasury Secretary Scott Bessent said the department would increase the repurchase of bonds, according to Reuters.
Hong Kong's Hang Seng Index led gains among its peers and ended 1.21% higher. The South Korean Kospi and China's CSI 300 index ended 0.9% and 0.6% higher, respectively. Most Asian indices were down around 1% for the week, with the tech-heavy Nikkei 225 shedding nearly 4% and underperforming its peers. In contrast, the Hang Seng Index diverged from its peers and gained almost 4% over the week.
Nikkei heavyweight Fast Retailing Co and SoftBank Group were down almost 4% and 3%, respectively, putting pressure on the index. Hang Seng heavyweights Tencent Holdings and HSBC Holdings ended over 1% higher each, supporting the index. Insurance player AIA Group was up more than 3%. Samsung Electronics and SK Hynix Inc ended up nearly 4% and more than 2%, respectively, pulling up the tech-heavy Kospi.
Following are the closing levels of the major Asian indices Friday:
|
Index |
Level |
Change in % |
|
Nikkei 225 Day |
66016.36 | (-)0.3 |
|
TOPIX FIRST SECTION |
4067.29 | 0.2 |
|
S&P/ASX 200 Index |
9058.90 | (-)0.3 |
|
KOSPI Index |
6912.95 | 0.9 |
|
Hang Seng Index |
26009.46 | 1.2 |
|
CSI 300 Index |
4618.89 | 0.6 |
|
FTSE Singapore Strait Times |
5689.91 | 0.3 |
(Vidhi Thacker)
Equity Alert: Benchmark indices remain flat; bank stocks up, FMCG cos lag
MUMBAI--1340 IST--Benchmark indices remained flat even as most Nifty 50 constituents traded in the red. Gains in most banking stocks helped partially offset the underperformance of automobile, fast-moving consumer goods, and pharmaceutical stocks. At 1338 IST, the Nifty 50 was at 24234.45, up 2.60 points. The BSE Sensex was at 77539.44 points, up 1.72 points.
In the Nifty 50, Power Grid Corp., Kotak Mahindra Bank, Bharat Electronics, and NTPC were among the top gainers. Power Grid Corp. rose over 3% and was the top gainer in the 50-stock index, while the others mentioned rose around 1?ch. Interglobe Aviation shed nearly 2% and was the worst performer after data by the Directorate General of Civil Aviation showed the airline's passenger load factor fell to 82.4% in July from 85.1% in June. However, its market share in July rose to 67.4% from 66.3% the previous month. Among other laggards, Cipla, Trent, and Maruti Suzuki India shed 1-2%.
In the broader market, the Nifty small-cap indices outperformed their benchmark peers, rising 0.5-1%, while the mid-cap indices ranged from being flat to marginally lower. Notably, the Nifty small-cap 50 index rose over 1%, boosted by gains in the shares of Welspun Corp. The stock surged over 16?ter the company announced it had secured its single largest order worth INR 172 billion to supply pipes from its manufacturing unit in the US.
Among sectoral indices, the Nifty Metal, Nifty Private Bank, and Nifty Realty were among the top gainers, rising 0.5-1%. The Nifty FMCG sectoral index was down 0.8% and was the worst performer among its peers. Britannia Industries shed nearly 4% and was the worst-hit constituent, while peers Marico, Varun Beverages, and Godrej Consumer were down over 1?ch. Higher sugar prices and the government's recent preventing bulk consumers from stockpiling the sweetner weighed on the sentiment towards the sector, according to an analyst at a top broking firm. Among other sectoral laggards, Nifty Healthcare and Nifty Pharma were down 1?ch.
The Nifty 200 index was flat; GE Vernova, Bharat Dynamics, Hitachi Energy, and Motilal Oswal Financial Services were among the outperformers, gaining 3?ch. On the other hand, Britannia Industries, down 3%, was the worst performer in both the Nifty 200 and Nifty 500 indices. Among other laggards, Billionbrains Garage Ventures and KEI Industries fell over 2?ch. The Nifty 500 index was also flat, the sharp rise in the stock of Welspun Corp. helping offset the impact of major laggards. On the other hand, Balrampur Chini Mills, down 6%, was the worst hit constituent in the 500-stock index. (Deesha Jadhav)
Equity Alert: Capacity add to aid Dalmia Bharat volume, says Prabhudas Lillaher
MUMBAI--1300 IST—-Dalmia Bharat's volume is expected to grow at an 11% compounded annual growth rate during the financial year 2025-26 (Apr-Mar) and 2028-29, according to Prabhudas Lilladher. This will be on the back of the planned capacity addition and the entry of the company into the central markets. The brokerage raised the target price on the stock nearly 5% to INR 2,173, and maintained a 'buy' call.
The company's capacity is expected to reach approximately 70 million tonnes per annum by the end of FY28. Dalmia Bharat's acquisition of cement plants owned by Jaiprakash Associates over the next few quarters, with total cement capacity of 5.2 million tonnes per annum and clinker capacity of 3.3 million tonnes per annum, is expected to aid the 11% volume growth, Prabhudas Lilladher said after an interaction with the management. The company is also commissioning 12 million tonnes per annum in the South and West regions and setting up a grinding unit of 2.5 million tonnes per annum in the East region, the brokerage added.
Dalmia Bharat plans to save around INR 50 per tonne in FY27, led by a higher share of renewable energy in its power, logistics optimisation, and increase in direct dispatches. The company's renewable energy share has reached 48% with an additional 100 megawatts planned over the next year. Its direct dispatch has risen to nearly 65% from around 55%, hence, reducing handling and warehousing costs. The company's growth in realisations will be supported by premiumisation, with Dalmia Durable And Sustainable Performance cement priced over INR 20–INR 30 higher than the base product. Weather 365 cement is also priced around INR 20 higher than Dalmia Durable and Sustainable Performance cement.
The cement company's demand for the September quarter is likely to moderate around 4–5% on year as the monsoon has impacted customer sentiment in the Eastern and North-Eastern regions, the brokerage said. The company's volume is likely to decline in double digits in the northeastern region in July due to floods in Assam, while demand is expected to improve faster in the next 2 months of the quarter. Demand from the Southern region is expected to post healthy growth at 6–7%, while Maharashtra's demand growth is likely to be decent, the brokerage added.
In the September quarter, the company's operating costs are expected to increase by INR 150–INR 200 per tonne. This is due to higher fuel costs, seasonality, and elevated packaging costs. This cost pressure is expected to weigh on the company's earnings before interest, tax, depreciation, and amortisation per tonne. The company's EBITDA per tonne will decline by around INR 200 due to the combined impact of price moderation, cost inflation, and weak contribution from central assets in the initial few quarters, according to Prabhudas Lilladher.
For the June quarter, Dalmia Bharat reported a net profit of INR 1.88 billion on revenues of INR 39.90 billion. At 1326 IST, the shares of the company traded 0.5% lower at INR 1,892.80 apiece on the National Stock Exchange. Over 232,000 shares of the company changed hands on NSE, which was lower than over 493,000 shares traded till the same time Thursday. Over the last seven days, the stock gained nearly 3%, and over a month, the stock rose nearly 5%. (Ayush Jaiswal)
Equity Alert: Food, beverage cos slip as sugar prices rise, Britannia dn 3%
MUMBAI--1245 IST--Shares of several food and beverage companies were down Friday, feeling the heat from a recent surge in sugar prices. The latest curbs by the government preventing large consumers from stockpiling the sweetener further weighed on stocks in the sector, according to an analyst at a top broking firm.
Among large-caps, Tata Consumer Products shed 1%, and mid-cap players Varun Beverages, Radico Khaitan, and Marico also shed over 1?ch. Britannia Industries shed over 3% and was the worst performer in the Nifty 200 index. Notably, however, shares of Nestle (India) were marginally higher.
On Thursday, ex-mill sugar prices rose sharply in many markets amid strong festival season demand. Over the past few days, southern markets, particularly Karnataka and Tamil Nadu, have seen sharper upward moves of around INR 200-INR 350 per 100 kg.
The rise in prices comes despite the government's order late Wednesday mandating bulk consumers to hold inventories for not more than 15 days, in a bid to prevent panic buying and hoarding of sugar during the festival season. The inventory holding limit applies only to large consumers such as confectioners, soft-drink manufacturers, and food processors, who buy more than 10 tonnes of sugar per month. Both factors are adversely affecting sentiment towards players in the food and beverages segment, according to the analyst. (Shruti Nair)
Equity Alert: JPMorgan bullish on gold financiers; IIFL Fin hits record high
MUMBAI--1227 IST--Shares of IIFL Finance rose nearly 8% to an all-time high of INR 687.10 apiece on the NSE, rising for the third straight day. Multinational brokerage JPMorgan has initiated coverage on some gold financiers with an "overweight" rating, according to a post on X by CNBC-TV18. The brokerage has set the target price for IIFL Finance at INR 750 per share, which implies a 9% upside from the spot price. At 1222 IST, almost nine million shares of the company had changed hands on the NSE, higher than almost one million traded untill the same period Thursday.
JPMorgan said it prefers IIFL Finance and sees a turnaround for the company with the potential of re-rating. The broking firm has also initiated an "overweight" rating on Muthoot Finance and Manappuram Finance with a target price of INR 3,400 and INR 395, respectively. JPMorgan said it believes Muthoot Finance's underperformance so far this year offers an attractive entry point for investors. While for Manappuram Finance, it sees the company's turnaround gaining traction.
Gold loans rose at a compounded annual growth rate of 65% over the last two years. The brokerage expects structural growth in gold financiers as gold is turning into a financial asset that can be monetised. It expects the share of gold loans could be 10% of the credit system. The brokerage expects gold to be at $5,000 per ounce by the end of 2027. "Low penetration and high entry barriers should support incumbents," according to the brokerage.
At 1222 IST, shares of Muthoot Finance and Manappuram Finance rose over 2?ch, both gaining for the second continuous day. (Durgesh Nandan)
Equity Alert: Indices flat after remaining higher; bank stocks aid gains
MUMBAI--1153 IST--Indices turned flat after staying higher for a brief period. Gains in banking stocks provided some relief to the indices. HDFC Bank was up nearly 1%. At 1217 IST, the Nifty 50 was flat at 24231.35 and the Sensex was at 77545.51, up just 7.79 points.
Power Grid Corp. of India and Kotak Mahindra Bank were the top gainers in the Nifty 50, up nearly 3% and 1% respectively. State-owned Bharat Electronics, NTPC, and Coal India were up around 1?ch in the index. Finanncial services companies HDFC Life Insurance Co. and Shriram Finance gained around 1?ch. In contrast, InterGlobe Aviation, JSW Steel, and Maruti Suzuki India were the worst hit stocks in the index and were down more than 1%. Healthcare stocks Cipla, Apollo Hospitals Enterprise, and Sun Pharmaceutical Industries fell nearly 1%.
Barring Nifty Midcap 50, which fell 0.1%, and Nifty Midcap, which was flat, all the broader market indices traded higher. Nifty Midcap 150 was up 0.1%. Nifty Smallcaps rose 0.5-1.0%. Among the sectoral indices, Nifty FMCG was the worst hit, down nearly 1%. On the other hand, Nifty Metal was the best performer and was up 0.6%.
Power sector companies GE Vernova T&D India, Hitachi Energy India, and Power Grid Corp. of India rose around 3?ch. Defence stock Bharat Dynamics was up over 3%. FMCG major Brittania Industries was the worst hit stock in the Nifty 200, down over 3%. The negative sentiment was driven by higher sugar prices and the government's recent curbs on companies to stock sugar in bulk, according to an analyst tracking the company. KEI Industries, Billionbrains Garage Ventures, and Avenue Supermarts fell around 2?ch in the index.
In the Nifty 500, Welspun Corp. was the best performer after the INR-172-billion order win. The company's management in a conference call with anlaysts after the order win, said the demand in the US market was buoyant and very strong traction was seen in the West Asia market on reconstruction. Welspun Corp is shifting its focus to overseas market as demand in India was muted, the top officials said. Sugar stock Balrampur Chini Mills was the major laggard among the Nifty 500 constituents, down nearly 5%. (Vidhi Thacker)
Equity Alert: Welspun Corp hits record high after INR-172-bln order win
MUMBAI--1105 IST--Shares of Welspun Corp. surged 15% to hit their lifetime high of INR 2,304 apiece after the company announced it had secured its single largest order worth INR 172 billion to supply pipes from its manufacturing unit in the US.
The order is scheduled to be executed between the financial year 2027–28 (Apr-Mar) and FY29 and has increased the company's global order book to a record INR 421 billion, the company said in an exchange filing Thursday. In July, the company had secured an order worth INR 9.6 billion to supply pipes from its US manufacturing unit, which had taken up its global order book to INR 257.5 billion. The company had scheduled a conference call with analysts at 1100 IST to shed some light on the details of the order win.
At 1100 IST, shares of Welspun Corp were up 13% at INR 2,271.70 on the National Stock Exchange. Around 9.57 million shares of the company changed hands on the exchange so far. This was over 22 times the number of shares traded till the same time Thursday. The stock has gained over 42% since it detailed its June quarter earnings on July 24.
Of the four brokerage reports on the company available with Informist, three have a "buy" or equivalent recommendation on the stock with target prices ranging from INR 1,150 to INR 1,930. (Shruti Nair)
Equity Alert: Indices a tad up; heavyweight HDFC Bank rises 1%
MUMBAI--1050 IST--Benchmark indices inched up with around half the Nifty 50 stocks trading higher. A nearly 1% rise in the index heavyweight HDFC Bank supported the Nifty 50. Banking stocks were the major gainers in the 50-stock index.
At 1033 IST, the Nifty 50 traded at 24251.65, up 19.80 points, or 0.1%. The BSE Sensex was at 77619.93 points, up 82.21 points, or 0.1%. Even though the market is in positive territory, nervousness among investors rose as suggested by the volatility index. India VIX, the fear gauge of the equity market, was up nearly 4% at 11.1550 points.
The broader market continued its mixed performance with small-cap indices gaining around 1?ch. All mid-cap indices were marginally down each. Indices tracking sectors also showcased a mixed performance. The Nifty Metal was the highest gainer among them, up nearly 1%. On the other hand, the index tracking fast-moving consumer goods stocks fell the most, down almost 1%.
Power Grid Corp. of India and Kotak Mahindra Bank were leading Nifty 50 gainers, up 1.5–2.4%. NTPC and Bharat Electronics gained over 1?ch in the 50-stock index. Bajaj Auto, InterGlobe Aviation, and Titan Co. were the worst hit stocks in the index, down around 1?ch.
The Nifty 200, Motilal Oswal Financial Services, Muthoot Finance, and Hindustan Zinc were the top gainers, up around 3% each. The worst hit stock, Britannia Industries, traded over 3% lower while Billionbrains Garage Ventures and LTM were down by over 2%. (Utthara E. S.)
Equity Alert: Indices flat after opening tad higher; IT stocks fall
MUMBAI--0944 IST--Indices opened a tad higher and turned flat later. Global market sentiment was weak with the sudden rise in US treasury yields and higher crude oil prices. The August futures of Brent Crude Oil were above $93 per barrel. Information technology stocks were the major laggards in the indices Friday. At 0941 IST, the Nifty 50 was at 24235.90, up 4.05 points, and the BSE Sensex was at 77545.66, up 7.94 points.
Eternal and Kotak Mahindra Bank were the top gainers among the Nifty 50 constituents, up nearly 1?ch. Heavyweight HDFC Bank was up 0.5%. On other hand, Information technology majors Tata Consultancy Services, HCL Technologies, and Infosys were down nearly 1?ch. Apollo Hospitals Enterprises and InterGlobe Aviation were down nearly 1?ch. Adani Ports and Special Economic Zone, HDFC Life Insurance Co., ITC, and Titan Co. were down 0.5?ch.
Among sectoral indices, Nifty Metal was the top gainer, up 0.9%, while Nifty IT was the worst hit, down 1%. Broader market indices were mixed. Nifty Midcap indices were down 0.3-0.4% and the Nifty Smallcap indices were up 0.2-0.5%.
In the Nifty 200, metal companies Hindustan Zinc and Vedanta were the top gainers, up over 3% and 2%, respectively. Premier Energies and Muthoot Finance were up over 2?ch. Muthoot Finance rose after the global brokerage JP Morgan initiated coverage on the stock with an 'overweight' recommendation and a target price of INR 3,400. On other hand, Britannia Industries was the worst hit stock and was down nearly 3%. LTM, Punjab National Bank, and BSE fell around 2?ch.
Welspun Corp rose nearly 11% and was the top gainer among the Nifty 500 constituents. Shares of the company rose after it received a supply order worth INR 172 billion. Balrampur Chini Mills was the major laggard in the index, down nearly 3%. (Adhithya Aji)
Equity Alert: Asian indices turn mixed as oil prices climb, bond yields gain
MUMBAI--0845 IST--Major Asian indices turned mixed in early trade on Friday, tracking losses in their US counterparts as yields on long-term US bonds rebounded. Rising crude oil prices added to the pressure. The strain was visible as Japan's Nikkei 225 and the Australian S&P ASX 200 fell 0.3?ch. On the other hand, the South Korean Kospi and Hong Kong's Hang Seng Index were up 0.7?ch. Mainland China's CSI 300 was up 0.4%.
Friday October futures of Brent crude oil remained around $94 per barrel after gaining around 2% Thursday as tensions between the US and Iran rose. US Treasury Secretary Scott Bessent vowed that the US would create "the greatest coordinated economic isolation in the history of the world" against Iran, according to a report by CNBC.
The rise in long-term bond yields globally translates into higher debt costs as tech giants borrow heavily to fund artificial intelligence-related spending, putting pressure on corporate earnings and stock valuations, Reuters reported.
Following are the levels of key indices in the region at 0815:
|
Index |
Level |
Change in % |
|
Nikkei 225 Day |
66008.45 | (-)0.31 |
|
TOPIX FIRST SECTION |
4053.74 | (-)0.15 |
|
S&P/ASX 200 Index |
9054.10 | (-)0.33 |
|
KOSPI Index |
6905.29 | 0.77 |
|
Hang Seng Index |
25889.80 | 0.74 |
|
CSI 300 Index |
4613.05 | 0.44 |
|
FTSE Singapore Strait Times |
5665.02 | (-)0.12 |
(Vidhi Thacker)
Informist, Friday, Aug. 21, 2026 Tel +91 (22) 6985-4000
Equity Alert: Indices to move in range Fri; positive bias likely to stay
MUMBAI--0830 IST--Benchmark equity indices are likely to move in range as suggested by the levels of GIFT Nifty. Asian equity indices were mixed in early trade. Though higher crude oil prices are likely to remain a major overhang, the cooling of US bond yields is expected to provide relief for the short term.
At 0759 IST, Brent crude oil futures for October delivery were largely flat at $93.80 a barrel. This was nearly 29% higher than the levels before the war in West Asia.
At 0818 IST, the August futures contract of GIFT Nifty was at 24325.50, up 31.50 points or 0.1% from Thursday. This indicated a range-bound movement for the market.
"Nifty (50) index bounced back from the key support zone around 24000 spot levels after filling the gap left during the rally on July 29, 2026," Vipin Kumar, assistant vice-president of research at Globe Capital Market, said. "Going ahead, a sustained trading above 24250 spot could lead the index towards the 24400–24450 spot levels, which are likely to act as a strong resistance zone on the higher side. Overall, the chart structure remains sideways as long as the index continues to consolidate within the 23600–24700 spot range on a closing basis."
South Korea's KOSPI gained almost 1% among Asian equity indices. All three major US indices closed lower Thursday with the S&P 500 shedding almost 1%. (Arundathi A R)
Equity Alert: US indices end lower amid rising bond yields, higher oil prices
MUMBAI--0745 IST--US indices closed lower Thursday as bond yields rose once again and also as a rally in oil prices added to inflation worries. The Dow Jones Industrial Average underperformed its peers and ended 1.32% lower. The S&P 500 closed 0.87% down, while the Nasdaq Composite ended 1% lower.
Bond yields rose Thursday, with the yield on 10-year treasury notes gaining more than 5 basis points to 4.704%. The yield on 30-year treasury bonds rose more than 5 bps to 5.248%, reaching its highest level in 20 years, according to a report by CNBC. The US treasury department Wednesday said that it will double its repurchase of long-term debt over the next few months. The debt buyback operation could be more than $4 billion, said Treasury Secretary Scott Bessent to CNBC.
Shares of Walmart fell more than 9% Thursday after the retail heavyweight missed Wall Street's expectations for its quarterly results as higher gasoline prices impacted retail spending, according to Reuters. This dragged down the S&P 500 and the Dow Jones Industrial Average. Other competitor retailers, like Costco, Dollar Tree, and Alberston, were also down 1–2%. Goldman Sachs fell more than 4% and put further pressure on the Dow.
Crude oil prices rose further on Thursday by around 2% to $93.78 per barrel, adding to the pressure. Oil prices were up more than 3?rly in the session after US President Donald Trump threatened Iran with the "MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!" Bessent told CNBC that the president's comments were being misinterpreted. "I'm not sure why oil has popped up on this. If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart," Bessent told CNBC.
Following are the closing levels of major US indices Thursday:
|
Index |
Level |
Change in % |
|
Dow Jones Industrial Average |
52759.21 | (-)1.32 |
|
NASDAQ Composite |
26067.166 | (-)1.00 |
|
S&P 500 |
7641.16 | (-)0.87 |
(Vidhi Thacker)
US$1 = INR 95.73
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
All prices from National Stock Exchange, unless otherwise specified.
All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.
All times are Indian Standard Time.
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