Nifty breaks losing streak, Sensex rallies 628 points; sugar stocks shine

Key equity benchmarks staged a strong rebound on Thursday, with the Nifty snapping a seven-session losing streak and reclaiming the 24,200 level, while the Sensex jumped over 600 points. The recovery was supported by easing US Treasury yields after the US Treasury announced plans to double its buybacks of longer-duration government debt, helping steady global bond markets and improve risk appetite. Buying was broad-based, led by IT, financials, realty and media stocks, while the broader market also ended higher. The rupee snapped its three-day losing streak and closed at 95.71 per dollar. Technically, the Nifty faces an immediate hurdle at 24,290-24,320, while 24,130-24,100 remains a crucial support zone.

The S&P BSE Sensex surged 628.04 points or 0.82% to 77,537.72. The Nifty 50 index gained 153.55 points or 0.64% to 24,231.85. Over the past four consecutive trading sessions, the Sensex declined 1.49%, while the Nifty fell 2.05% over the past seven consecutive trading sessions.

Bharti Airtel (up 1.02%), ICICI Bank (up 0.71%) and HDFC Bank (up 0.70%) boosted the Nifty higher today.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 0.53% and the BSE 250 SmallCap Index dropped 0.48%.

The market breadth was positive. On the BSE, 2,450 shares rose and 1,874 shares fell. A total of 237 shares were unchanged.

Numbers to Track:

In the commodities market, Brent crude for October 2026 settlement gained $2.40 or 2.62% to $94.02 a barrel. Oil remains firm as uncertainty over the US-Iran conflict and disruptions to shipping through the Persian Gulf continued to raise concerns over energy supplies and inflation.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.7150 compared with its close of 95.7350 during the previous trading session.

The yield on India's 10-year benchmark federal paper was rose 0.73% to 6.862 as compared with 6.812 previous session?s close.

MCX Gold futures for 5 October 2026 settlement rose 0.10% to Rs 1,58,151.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.21% to 98.63.

The United States 10-year bond yield advanced 0.32% to 4.668.

Global Market:

European equities traded lower on Thursday as renewed concerns over inflation, elevated oil prices and a hawkish Federal Reserve outlook offset relief from a recovery in global bond markets.

Asian equities, meanwhile, ended higher, tracking Wall Street's rebound in the previous session after the US Treasury announced plans to double buyback operations for longer-dated government debt, helping ease pressure on the bond market. The move pushed the 30-year US Treasury yield lower after it had climbed to 5.337%, its highest level since 2007.

On Wall Street, the S&P 500 snapped a three-session losing streak on Wednesday, while the Dow Jones Industrial Average and Nasdaq Composite gained around 0.2%, supported by falling longer-dated Treasury yields.

However, sentiment remained cautious after minutes of the Federal Reserve's July meeting showed that many policymakers were open to further rate hikes if inflation remains elevated; the Fed had kept its policy rate unchanged at 3.50%-3.75%.

Investors will now focus on US weekly jobless claims for fresh clues on labour-market conditions and the outlook for monetary policy.

Stocks in Spotlight:

Sugar stocks rallied after the government tightened stockholding limits for bulk sugar consumers ahead of the festive season. The government has directed bulk consumers using more than 10 metric tonnes of sugar a month to limit inventories to 15 days from 1 September to 30 November 2026. The measure covers confectionery makers, beverage companies, food processors and other institutional buyers.

Balrampur Chini Mills rose 19.55%, Bannari Amman Sugars gained 17.23%, Bajaj Hindusthan Sugar advanced 14.47%, Uttam Sugar climbed 11.70%, Avadh Sugar rose 9.52%, Shree Renuka gained 7.80%, Dhampur Sugar advanced 7.71%, Dalmia Sugar rose 6.84%, Triveni Engineering gained 3.74% and EID Parry advanced 2.95%.

Hyundai Motor India added 2.41% after the company announced a price hike of up to 1% across its vehicle portfolio, effective September 2026.

Lupin shed 1.06%. The company said that its wholly owned subsidiary VISUfarma B.V. has entered into an exclusive licensing agreement with USA-based Visus Therapeutics Inc. for commercializing 'YUVEZZI' in the European Union, United Kingdom, Switzerland, Norway, and Iceland. YUVEZZI is a proprietary ophthalmic product indicated for the treatment of presbyopia in adults.

Lohia Corp fell 3.79%. The company has reported 292% rise in consolidated net profit to Rs 66.3 crore in Q1 FY27 from Rs 16.9 crore in Q1 FY26. Revenue from operations increased by 60% year-on-year (YoY) to Rs 503 crore during the period under review.

EMS advanced 1.87%. The company has received the lowest bidder (L-1) status awarded by Public Health Engineering Department, Government of Rajasthan for construction of Water Treatment Plant and other ancillary works in Udaipur District of Rajasthan. The estimated order value is approximately Rs. 222.45 crore.

Aditya Infotech hit an upper circuit of 5% after the company?s board approved a proposal to raise up to Rs 1,500 crore through the issuance of equity shares via one or more permissible modes.

Aditya Birla Capital (ABCL) rallied 3.28% after the company announced its entry into the gold loan business, marking a strategic expansion of its secured lending portfolio.

Unicommerce eSolutions added 2.21% 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.

Glenmark Pharmaceuticals rallied 3.85% after the company announced that it has received approval from the U.S. Food and Drug Administration (USFDA) for Fluticasone Propionate Nasal Spray USP, 0.05 mg/spray.

United Spirits added 1.31% after the Food Safety and Standards Authority of India (FSSAI) revoked its 29 June 2026 order concerning the sale of a product manufactured at the company's Baramati unit.

Strides Pharma Sciences rallied 3.92% after the company received establishment inspection (EIR) from the US Food and Drug Administration (USFDA), indicating the successful closure of the inspection conducted at the Bengaluru facility.

IPO Update:

Tempsens Instruments (India) received bids for 8,64,29,250 shares as against 1,51,81,667 shares on offer, according to stock exchange data at 16:36 IST on 20 August 2026. The issue was subscribed 5.69 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 5,97,50,454 shares as against 2,53,28,946 shares on offer, according to stock exchange data at 16:36 IST on 20 August 2026. The issue was subscribed 2.36 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 57,78,96,517 shares as against 54,86,051 shares on offer, according to stock exchange data at 16:36 IST on 20 August 2026. The issue was subscribed 105.34 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 7,65,13,440 shares as against 2,76,37,400 shares on offer, according to stock exchange data at 16:36 IST on 20 August 2026. The issue was subscribed 2.77 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.

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