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Sensex, Nifty tumble as crude surge, geopolitical concerns weigh

(18-Aug-26   16:02)

The headline equity benchmarks ended with substantial losses on Tuesday, weighed down by renewed geopolitical concerns in the Middle East and a surge in crude oil prices following the expiry of the US-Iran ceasefire, while uncertainty over the reopening of the Strait of Hormuz further dampened investor sentiment. The Nifty also remained under pressure amid volatility surrounding the weekly Nifty 50 derivatives expiry and settled below the 24,200 level. IT, realty and PSU bank stocks declined, while media, auto and healthcare shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex dropped 492.70 points or 0.63% to 77,235.46. The Nifty 50 index lost 132.75 points or 0.55% to 24,154.90. The Sensex declined 1.08% in three consecutive trading sessions, while the Nifty fell 1.74% in six consecutive trading sessions.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index fell 0.35% and the BSE 250 SmallCap Index added 0.19%.

The market breadth was negative. On the BSE, 1,938 shares rose and 2,378 shares fell. A total of 231 shares were unchanged.

In the commodities market, Brent crude for Oct 2026 settlement rose 1 cent or 0.01% to $90.88 a barrel.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.6900 compared with its close of 95.6100 during the previous trading session.

New Listing :

Milky Mist Dairy Food ended its debut session at Rs 181.45 on the BSE, a 29.61% premium to its issue price of Rs 140. The stock debuted at Rs 165, marking a premium of 17.86% to the issue price and traded between Rs 165 and Rs 181.45 during the session. More than 69.27 lakh shares changed hands on the BSE.

IPO Update:

Sunshine Pictures received bids for 1,82,64,557 shares as against 54,86,051 shares on offer, according to stock exchange data at 15:30 IST on 18 August 2026. The issue was subscribed 3.33 times.

The issue opened for bidding on 18 August 2026 and will close on 20 August 2026. The price band of the IPO is fixed between Rs 342 and Rs 360 per share. An investor can bid for a minimum of 41 equity shares and multiples thereof.

Shankesh Jewellers received bids for 70,85,440 shares as against 2,76,37,400 shares on offer, according to stock exchange data at 15:30 IST on 18 August 2026. The issue was subscribed 0.10 times.

The issue opened for bidding on 18 August 2026 and will close on 20 August 2026. The price band of the IPO is fixed between Rs 88 and 93 per share. An investor can bid for a minimum of 160 equity shares and multiples thereof.

Horizon Industrial Parks received bids for 4,80,71,250 shares as against 25,13,56,273 shares on offer, according to stock exchange data at 15:30 IST on 18 August 2026. The issue was subscribed 0.19 times.

The issue opened for bidding on 17 August 2026 and will close on 19 August 2026. The price band of the IPO is fixed between Rs 57 and 60 per share. An investor can bid for a minimum of 250 equity shares and multiples thereof.

Lalithaa Jewellery Mart received bids 16,43,96,402 shares as against 6,27,61,403 shares on offer, according to stock exchange data at 15:30 IST on 18 August 2026. The issue was subscribed 2.62 times.

The issue opened for bidding on 17 August 2026 and will close on 19 August 2026. The price band of the IPO is fixed between Rs 190 and 201 per share. An investor can bid for a minimum of 74 equity shares and multiples thereof.

Buzzing Index:

The Nifty IT index fell 1.93% to 30,213.45. The index dropped 3.94% in three consecutive trading sessions.

Mphasis (down 2.59%), LTM (down 2.34%), Infosys (down 2.29%), HCL Technologies (down 2.26%), Coforge (down 2.21%), Persistent Systems (down 1.74%), Wipro (down 1.7%), Tech Mahindra (down 1.43%), Tata Consultancy Services (down 1.26%) and Oracle Financial Services Software (down 0.84%) declined.

Stocks in Spotlight:

Sigma Advanced Systems hit the upper circuit of 5% after the company secured orders worth approximately Rs 155 crore from the Government of India for its Indrajaal Ranger anti-drone patrol vehicle.

DCX Systems rose 3.22% after the company and its wholly owned subsidiary Raneal Advanced Systems secured purchase orders worth a combined Rs 18.28 crore.

Netweb Technologies India advanced 2.14% after the company announced the opening of its qualified institutional placement (QIP) issue and fixed the floor price at Rs 4,885.90 per equity share.

KPI Green Energy added 1.86% after the company announced that it has energized 130 MW AC / 195 MW DC solar capacity under its 370 MW AC / 677 MW DC Wind-Solar Hybrid Power Project (IPP) at Bharuch, Gujarat.

Highway Infrastructure rallied 4.06% after the company received a Letter of Acceptance (LoA) worth Rs 80.16 crore from the National Highways Authority of India (NHAI) for operations at Palayam Fee Plaza in Tamil Nadu.

SPR Auto Technologies rose 1.25% after the company announced the opening of its qualified institutional placement (QIP) issue and fixed the floor price at Rs 4,438.20 per equity share.

Goldiam International slipped 3.15%. The company said that it has secured export orders worth Rs 50 crore from US-based international clients.

Ceigall India fell 3%. The company, jointly with Sushee Infra Mining, has received four letters of acceptance from the Ministry of Road Transport & Highways (MoRTH) for undertaking the EPC construction of 204 km of intermediate-lane roads on NH-913 in Arunachal Pradesh. The four projects have an aggregate bid cost of Rs 2,149.62 crore.

Protean eGov Technologies added 0.69%. The company has received a work order worth Rs 5.99 crore from the Government of Arunachal Pradesh for the design, development, implementation and maintenance of the Arun Parivar Patra (APP) ' State Family Registry Platform.

One 97 Communications slipped 2.28% after a large block deal in the stock was executed in early trade. The identities of the buyers and sellers were not immediately disclosed. Trading volumes were elevated during the session. On the BSE, 2.73 lakh shares changed hands against a three-month average of 3.55 lakh shares. On the NSE, 24.42 lakh shares were traded against a three-month average of 33.36 lakh shares.

Global Markets:

European equities extended a selloff on Tuesday, driving continental benchmarks to two-week lows as a dramatic escalation in Middle East war posture sent shockwaves through global risk assets.

Most Asian markets ended lower today as renewed uncertainty over the US-Iran ceasefire pushed oil prices above $91 a barrel and simultaneously stoked global inflation concerns.

US President Donald Trump ruled out extending the 60-day agreement with Iran and threatened military action against Oman, while negotiations between Washington and Tehran remained stalled. Higher oil prices also pushed longer-dated US Treasury yields higher.

China's economy lost momentum in July, with consumer spending, investment and industrial activity weakening. Retail sales grew 0.6% year-on-year, slowing from 1% growth in June.

Urban fixed-asset investment fell 6.7% in the first seven months of the year, compared with a 5.7% decline in the first half, while industrial output growth slowed to 4.5% from 5.3% in June. The urban unemployment rate rose to 5.2% from 5% in June.

US stocks ended lower overnight as renewed tensions between Washington and Tehran lifted oil prices and revived inflation concerns.

The Dow Jones Industrial Average fell 0.51%, the S&P 500 declined 0.52% and the Nasdaq Composite shed 0.32%. Investors will now focus on the minutes of the Federal Reserve's July meeting, due Wednesday, for clues on the interest-rate outlook.

The Fed had kept its benchmark rate unchanged at 3.50%-3.75% at its 28-29 July meeting, although three policymakers dissented in favour of a rate hike.

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