Nifty trades below 24,200 level; IT shares decline
At 11:25 IST, the barometer index, the S&P BSE Sensex declined 387.26 points or 0.50% to 77,340.90. The Nifty 50 index fell 94.75 points or 0.39% to 24,191.70.
In the broader market, the BSE 150 MidCap Index slipped 0.26% and the BSE 250 SmallCap Index rose 0.08%.
The market breadth was positive. On the BSE, 1,797 shares rose and 2,139 shares fell. A total of 268 shares were unchanged.
IPO Update:
Sunshine Pictures received bids for 41,50,963 shares as against 54,86,051 shares on offer, according to stock exchange data at 11:30 IST on 18 August 2026. The issue was subscribed 0.76 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 26,37,120 shares as against 2,76,37,400 shares on offer, according to stock exchange data at 11:30 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 4,09,88,250 shares as against 25,13,56,273 shares on offer, according to stock exchange data at 11:30 IST on 18 August 2026. The issue was subscribed 0.16 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 7,11,74,828 shares as against 6,27,61,403 shares on offer, according to stock exchange data at 11:30 IST on 18 August 2026. The issue was subscribed 1.13 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 dropped 1.61% to 30,312.15. The index fell 3.62% in three consecutive trading sessions.
Godrej Properties (down 2.37%), Lodha Developers (down 2.34%), Oberoi Realty (down 1.23%), Aditya Birla Real Estate (down 1.19%), Phoenix Mills (down 0.80%), DLF (down 0.73%) and Brigade Enterprises (down 0.09%) declined.
On the other hand, Anant Raj (up 0.39%), Sobha (up 0.36%) and Prestige Estates Projects (up 0.06%) edged higher.
Stocks in Spotlight:
KPI Green Energy added 1.17% 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.
SPR Auto Technologies rose 0.82%. 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.
DCX Systems rose 3.40% after the company and its wholly owned subsidiary Raneal Advanced Systems secured purchase orders worth a combined Rs 18.28 crore.
Global Market:
Most Asian stocks traded lower on Tuesday as renewed uncertainty over the US-Iran ceasefire pushed oil prices above $91 a barrel and heightened 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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