Nifty trades above 24,200 level; consumer durables shares underpressure
At 11:30 IST, the barometer index, the S&P BSE Sensex gained 485.29 points or 0.64% to 77,395.23. The Nifty 50 index jumped 124.25 points or 0.52% to 24,203.05.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.72% and the BSE 250 SmallCap Index rallied 0.80%.
The market breadth was strong. On the BSE, 2,498 shares rose and 1,462 shares fell. A total of 268 shares were unchanged.
IPO Update:
Tempsens Instruments (India) received bids for 2,87,22,900 shares as against 2,53,28,946 shares on offer, according to stock exchange data at 11:30 IST on 20 August 2026. The issue was subscribed 1.89 times.
The issue opened for bidding on 19 August 2026 and it will close on 21 August 2026. The price band of the IPO is fixed between Rs 285 and Rs 300 per share. An investor can bid for a minimum of 50 equity shares and multiples thereof.
Gaja Alternative Asset Management received bids for 3,39,01,941 shares as against 2,53,28,946 shares on offer, according to stock exchange data at 11:30 IST on 20 August 2026. The issue was subscribed 1.34 times.
The issue opened for bidding on 19 August 2026 and will close on 21 August 2026. The price band of the IPO is fixed between Rs 152 and Rs 160 per share. An investor can bid for a minimum of 93 equity shares and multiples thereof.
Sunshine Pictures received bids for 17,14,17,966 shares as against 54,86,051 shares on offer, according to stock exchange data at 11:30 IST on 20 August 2026. The issue was subscribed 31.25 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 3,26,13,920 shares as against 2,76,37,400 shares on offer, according to stock exchange data at 11:30 IST on 20 August 2026. The issue was subscribed 1.18 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.
Buzzing Index:
The Nifty Media Index gained 1.28% to 1,607.95. The index fell 0.91% in the past trading session.
Zee Entertainment Enterprises (up 3.83%), Prime Focus (up 1.61%), Network 18 Media & Investments (up 1.03%), D B Corp (up 0.99%), Saregama India (up 0.59%), Nazara Technologies (up 0.59%), Hathway Cable & Datacom (up 0.48%) and PVR Inox (up 0.42%) advanced.
On the other hand, Sun TV Network (down 0.83%) and Tips Music (down 0.26%), edged lower.
Stocks in Spotlight:
Unicommerce eSolutions advanced 2.40% after Urban Company's Middle East arm partnered with the company to manage its e-commerce operations in the United Arab Emirates and Saudi Arabia.
Hyundai Motor India added 1.26% after the company announced a price hike of up to 1% across its vehicle portfolio, effective September 2026.
Global Market:
Most Asian stock indices traded higher on Thursday, tracking a rebound on Wall Street as a retreat in US Treasury yields improved risk appetite. The recovery followed the US Treasury's announcement that it would double the size of its buyback operations for longer-dated government debt, helping ease pressure in the bond market after 30-year Treasury yields hit their highest level since 2007 earlier in the week.
Global crude prices, however, remained elevated near $92 a barrel as hopes for a near-term resolution to the US-Iran conflict faded. Stalled talks and uncertainty over crude flows through the Strait of Hormuz continued to fuel concerns that higher energy costs could keep inflation elevated.
On Wall Street, the S&P 500 ended a three-session losing streak on Wednesday, while the Dow Jones Industrial Average and Nasdaq Composite also gained around 0.2%. The rebound was supported by the decline in longer-dated Treasury yields following the US Treasury's liquidity-support measures.
Investors also digested a hawkish set of minutes from the Federal Reserve's July meeting. The minutes showed that three policymakers had favoured a 25-basis-point rate hike, while several officials said further tightening could be required if inflation remains above the Fed's 2% target. The Fed kept its benchmark rate at 3.50%-3.75% at the 28-29 July meeting.
Investors will now watch US weekly jobless claims for fresh clues on the labour market and the outlook for monetary policy.
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