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Informist, Monday, Aug. 31, 2026

 

By Adhithya Aji

 

MUMBAI – Benchmark indices ended lower after crude oil prices rose following an escalation in the US-Iran war, heightening concerns over the conflict in West Asia. Weakness in Adani Group stocks and index heavyweight HDFC Bank further weighed on sentiment.

 

Crude oil prices rose above $91 per barrel as the US launched two missile strikes on Larak Island in southern Iran on Sunday. In retaliation, Iran launched strikes targeting two US bases in Jordan. The US strikes were the first military action against Iran in a month. The Nifty 50 ended 0.4% lower at 24080.40, and the BSE Sensex closed 0.4% lower at 76957.27.

        

Shares of heavyweight HDFC Bank opened higher after brokerages retained their positive stance on the bank despite Managing Director and Chief Executive Officer Sasidhar Jagdishan's decision to seek reappointment. However, the stock later slipped into the red, ending nearly 2% lower. Jagdishan decided not to seek reappointment and is set to retire on Oct. 26.

 

Most brokerages maintained their 'buy' call on the stock while reiterating that clarity is lacking on who will take up the baton. Analysts believe governance concerns are weighing on the stock. "It's usually a leadership issue. So when you have leadership changing at the top, until that point of time, these kinds of concerns remain," said Rohit Srivastava, founder, Strike Money and India Charts. "So I think the sooner they can have the transition of the top leadership, the better it will be for the sentiment towards the governance and other issues," he added. 

 

Adani Group companies fell further during the closing auction session. Adani Group constituents Adani Enterprises and Adani Ports and Special Economic Zone closed nearly 10% and 7% lower, respectively. Adani Energy Solutions fell more than 10%. Adani Green Energy and Adani Power ended around 7% lower.

 

Broader market indices closed mixed. Small-cap indices closed 0.7-0.8% lower, while mid-cap indices ended 0.1-0.5% higher. Nifty Metal fell over 2%, with most of the constituents closing lower. Major silver producer Hindustan Zinc fell over 4% amid a fall in silver prices. Its parent company, Vedanta, closed over 3% lower. Aluminium producers Hindalco Industries and National Aluminium Co. closed nearly 2% and over 3%, respectively. "Base metals prices are under pressure as Federal Reserve Chairman Kevin Warsh came his closest yet to acknowledging interest rate hikes may lie ahead," SMC said in a report. 

 

The Nifty Bank rose sharply during the closing auction session. The Nifty Bank was 0.2% lower at 1515 IST but rose sharply to end 0.9% higher after the closing auction. Axis Bank gained nearly 3% during the closing auction. ICICI Bank ended over 2% higher, partly offsetting the decline in HDFC Bank. 

 

Sun Pharmaceutical Industries closed over 3% higher. Nestle India, Max Healthcare Institute, Grasim Industries, Tata Consultancy Services, Shriram Finance, Wipro, Bajaj Auto, Asian Paints, and InterGlobe Aviation ended 1-3% higher. Meanwhile, ITC, Bharti Airtel, Tata Motors Passenger Vehicles, Hindustan Unilever, JSW Steel, and Dr. Reddy's Laboratories ended 2-4% lower.  

 

Aurobindo Pharma closed over 4% higher after its wholly owned subsidiary launched the generic asthma drug 'Advair Diskus' in the US market. Lenskart Solutions closed over 4% higher ahead of its inclusion in the MSCI global standard indices as part of the August index review. Moreover, Nomura initiated coverage with a 'buy' recommendation and a target price of INR 888, CNBC-TV18 reported.

 

Ather Energy closed over 6% higher. The shares rose after the company launched its new electric scooter, Konarc. "Konarc marks a strategic shift from Ather's historically premium positioning towards the Rs 0.1–0.125 mn (INR 100,000 – INR 125,000) segment; the industry's largest and most competitive price band, where it had limited presence so far," Nirmal Bang Institutional Equities said in a report. The brokerage maintained a 'buy' recommendation on the stock and raised the target price nearly 22% to INR 1,873.

 

Shares of Zee Entertainment closed nearly 8% lower amid the legal hurdles facing the company's chairman emeritus, Subhash Chandra. The National Company Law Appellate Tribunal agreed to hear Tuesday pleas by banks against the resolution of INR 62.50-million repayment plan submitted by Chandra for admitted claims of INR 220.07 billion. Chandra was a personal guarantor for corporate loans availed by Essel Group-owned companies.

 

Shares of gold loan financiers Muthoot Finance and Manappuram Finance closed nearly 4% and 3% lower, respectively. The shares fell amid a drop in gold prices.  

 

* Of the Nifty 50 stocks, 20 rose, 30 fell

* Of the Sensex stocks, 10 rose, 20 fell

* On the NSE, 1,340 stocks rose, 2,204 fell, and 97 were unchanged

* On the BSE, 1,858 stocks rose, 2,572 fell, and 250 were unchanged
* Nifty Bank: up 0.9%; Nifty Private Bank: up 1%; Nifty Media: down 2.8%

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BSE                                            NSE

Sensex: 76957.27, down 307.24 points or 0.4%   Nifty 50: 24080.40, down 95.25 points, or 0.4%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	2017 High(intraday): 10515.10 (Dec. 26)

 

 

End

 

US$1 = INR 95.16

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

 

 

Edited by Saji George Titus

 

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