Hindalco, BPCL, Tata Steel, Shriram Finance, and LTIMindtree were the top gainers in the Nifty 50. Meanwhile M&M, Bajaj Auto, Axis Bank, IndusInd Bank, and Tata Motors were the major losers in the Nifty 50 on August 19.

“COMEX gold (December) hit an all-time high of $2,549.99 per ounce today, extending gains from Friday, when weaker US housing data fueled speculation about larger and faster rate cuts. Gold prices closed last week at $2533.70 per ounce, staging a sharp rebound from below $2,470 per ounce hit after mixed US data, stronger retail sales and lower unemployment claims, hinted at a potentially less dovish Federal Reserve stance and prompted a shift from expectations of a 50 basis point rate cut to a more modest 25 basis points. Today, COMEX gold pulled back to $2,541 per ounce after earlier hitting an all-time high, as markets await US jobless claims and Fed Chair Jerome Powell’s keynote speech at the Jackson Hole Symposium for guidance on the Fed’s monetary policy,” said Kaynat Chainwala, Assistant Vice President of Commodity Research at Kotak Securities.

“Crude oil prices retreated on Monday amid demand concerns from China oil demand where July imports fell 8%, following an 11% decline in June, while the renewed cease-fire talks between Hamas and Israel mitigated by the US, Qatar, and Egypt, have also eased the risk premiums. WTI trades around $75.10 down 0.53% from the previous close, not before hitting an intra-day low of $74.77, however, the escalation of the Russia-Ukraine war once again poses a supply risk,” said Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas. Crude oil is sandwiched between geo-political risk and falling demand off late and with a lack of key economic release in the day, we expect prices to remain sideways to sell on the rise kind of market. WTI support remains around $7.50 and resistance at $77, said Imran.

The stock of Piramal Enterprises rose 4.25% to an intraday high of Rs 987.60 from its previous close of Rs 947.35. The stock touched its 52-week high of Rs 1,139.95 on September 11, 2023. The upper band of the stock is placed at Rs 1,042.05.

Shares of Voltas rose 4.8% to hit a fresh 52-week high of Rs 1,608.70 from its previous close of Rs 1,535.15. The upper band for the stock is placed at Rs 1,688.65.

Courtesy: BSE

Benchmark indices registered their biggest single-day gain of the month on Friday, as hopes of the US Federal Reserve beginning its rate cut cycle in September picked up pace. This optimism comes in the backdrop of US data showing that annual retail inflation in the world’s largest economy eased below 3% in July for the first time since 2021.

The Sensex on Friday surged 1,330.96 points or 1.7% to close at 80,436.84 and the broader Nifty also jumped 397.40 points or 1.7% to 24,541.15. While this was the biggest single-day gain for the Sensex since June 7, for Nifty, it was the best day since July 26.

Read More: Markets jump nearly 2%

Shares of PB Fintech (PolicyBazaar) experienced a nearly 6% decline during Monday’s morning trades. The stock opened at Rs 1,703.85 on the NSE, approximately 7% higher than the previous close of Rs 1,691.95. However, the shares faced significant volatility, correcting more than 10% from their intraday highs. The stock fell to a low of Rs 1,590.15, reflecting a decline of over 6% from the previous close and more than 10% from the day’s peak.

Railway sector stocks saw a significant uptick, led by BEML with a 4% increase. Titagarh followed with a 3.19% gain, while RVNL and Texmaco Rail both rose by 1.38%. IRCTC saw a 1.53% increase, IRFC was up by 0.98%, and Railtel gained 0.52%.

Life Insurance Corporation of India (LIC) has reduced its shareholding in Hindustan Copper from 8.171% to 6.086% of the company’s paid-up capital. Following the news, LIC’s stock rose by 1.31% on the NSE, trading at Rs 1,071.15. Meanwhile, Hindustan Copper’s shares increased by 1.86%, trading at Rs 319.80.

Shares of Trent, Tech Mahindra, Tata Consultancy Services (TCS), Colgate Palmolive India, and ICICI Lombard General Insurance Company reached fresh 52-week highs on August 19, 2024. Meanwhile, the Nifty 50 index rose by 23.95 points (0.1%), while the Sensex slightly declined by 11.15 points (-0.01%).

Shares of newly-listed Ola Electric are locked in the upper circuit once again, marking a 40% increase over the last six trading sessions. Investors who held onto shares allocated during the IPO are now just Rs 6 short of doubling their investment, with the IPO initially priced at Rs 76 per share.

The circuit filter for Ola Electric shares was recently revised to 10% from the previous 20%. Despite this adjustment, the stock has nearly doubled from its IPO price within just six trading sessions post-listing.

Caplin Point Laboratories shares jumped 10% in trade on Monday, August 19, after the company announced that ANVISA-Brazil had successfully completed its inspection of Caplin Steriles’ injectable and ophthalmic manufacturing facility in Gummidipoondi, Chennai. The inspection, which took place from August 12 to 16, concluded with zero observations.

Glenmark Pharmaceuticals announced on Monday, August 19, that its US-based subsidiary, Glenmark Therapeutics Inc., has launched Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC) in the United States. The solution is an over-the-counter treatment for eye allergies.

Commenting on the Derivative outlook Anand James, Chief Market Strategist, Geojit Financial Services said that Nifty weekly contract has highest open interest at 25000 for Calls and 23000 for Puts while monthly contracts have highest open interest at 24500 for Calls and 24000 for Puts. Highest new OI addition was seen at 26550 for Calls and 24500 for Puts in weekly and at 24400 for Calls and 24500 for Puts in monthly contracts.

James also added that FIIs increased their future index long position holdings by 7.09%, decreased future index shorts by 5.58% and in index options by 42.81% increase in Call longs, 28.21% increase in Call short, 56.42% increase in Put longs and 60.44% increase in Put shorts

Zomato shares gained on Monday after its quick commerce unit, Blinkit, reported record-breaking orders on Sunday, driven by high demand ahead of Raksha Bandhan. Blinkit’s Gross Merchandise Value (GMV) also reached an all-time high, with orders peaking at 693 rakhis per minute, as disclosed by CEO Albinder Dhindsa. Following this performance, brokerage firm UBS maintained its ‘buy’ recommendation on Zomato and raised its price target for the stock from Rs 260 to Rs 320.

Interarch Building Products opened its IPO for subscription on August 19, aiming to raise Rs 600.29 crore through a mix of fresh shares and an offer for sale. The company will close the bidding for its issue on August 21.

Read More: Interarch Building Products IPO Day 1: Check price band, GMP, and other details

As of 12:15 p.m., the top gainers on the NSE include Hindalco, up by 3%, followed by BPCL with a 2.30% rise, LTIMindtree gaining 2.18%, Shriram Finance increasing by 1.78%, and Dr. Reddy’s up by 1.60%.

On the downside, the top losers are M&M, which declined by 2.05%, Bharti Airtel down by 1.04%, Tata Motors slipping by 0.85%, Tata Consumer Products dropping by 0.83%, and Axis Bank falling by 0.79%.

Foreign investors continued their aggressive selling in the Indian equity markets throughout August, offloading shares worth Rs 21,201 crore. This wave of selling was driven by factors such as the unwinding of the yen carry trade, recession fears in the US, and ongoing geopolitical tensions.

The Nifty 50 was up 0.22% at 24,594 while the Sensex was up 0.13% at 80,540.

Interarch Building Products IPO opened its issue for subscription on August 19 to raise a total of Rs 600.29 crore through a combination of fresh shares and an offer for sale. The company will stop taking bids for its issue on August 21. The company has kept the IPO price band in a range of Rs 850 to Rs 900 per equity share.

The stock of Mazagon Dock Shipyard fell 5.5% to an intraday low of Rs 4,700 from its previous close of Rs 4,974.95. The stock has a 52-week high of Rs 5,860, which it touched on July 05, 2024. The stock has an upper band placed at Rs 5,969.90.

Shares of One97 Communications, parent firm of Paytm, rose 4.34% to an intraday high of Rs 588.75 from its previous close of Rs 564.25. The company hit its 52-week high of Rs 998.30 on October 20, 2023. The upper band for the stock is placed at Rs 677.10, which is still 15% away.

Reliance Industries, SBI, TCS, Hindalco, and NTPC were the top contributors to the Nifty 50.

Courtesy: NSE

“Indian Armed Forces have issued a tender to procure 400 155-mm 52-calibre towed artillery gun systems (TAGS) worth Rs 650 crore. Bharat Forge is expected to be among the participants for this order. The company has a defence order book of Rs 540 crore (excl. order for TAGS/ATAGS). Given the large opportunity size of TAGS/ATAGS in India (refer to exhibit below) and globally, we expect strong revenue momentum to continue for the company and expect the defence segment (CAGR of 45% over FY24-27E) to contribute 20%+ to its consolidated revenue by FY27E. Maintain “Buy” with a September 2025 target price of Rs 1,700 (35x forward earnings). Deferment/delay in defence order execution remains a key risk,” said JM Financial on Bharat Forge.

JSW Cement, a subsidiary of the Rs 2-trillion JSW Group, is anticipated to soon file draft papers for its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). The company aims to raise up to Rs 4,000 crore through the IPO, which is expected to include the issuance of new shares worth Rs 2,000 crore, alongside an offer for sale of an equal amount.

Several stocks hit 52-week highs on the NSE, including Sterling Tools with a 13.89% increase, DCM Finserv up by 10%, and Caplin Point rising 9.56%. Gravita saw a gain of 9.47%, while Inox Green advanced by 7.05%.

“The Bank Nifty, has touched its resistance at the 50,600 mark and witnessed some profit booking. A slight cooldown toward the 50,400 level is expected before a fresh rally towards the 51,000 zone. The current market scenario favors a ‘buy on dips’ strategy, with a recommended stop loss at 50,100. We anticipate a renewed uptrend targeting 51,000 as banking stocks stabilize at support levels,” said Riyank Arora Technical Analyst at Mehta equities.

Ola Electric Mobility’s shares surged by 10% in early trade on Monday, hitting the upper circuit for the second day in a row. This continued upside has resulted in a remarkable gain of over 90% within just 10 days since the company’s IPO listing on August 9. On Monday, the shares were trading at Rs 146.03 apiece on the BSE, up from the previous close of Rs 132.76.