Nifty trades above 24,250 mark; private bank shares advance

The key equity benchmarks continued to trade with minor gains in the mid-morning trade on Friday. The Nifty traded above the 24,250 mark. Private bank extended gains for the second consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex gained 83.57 points or 0.11% to 77,621.29. The Nifty 50 index jumped 28.10 points or 0.12% to 24,259.70.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.17% and the BSE 250 SmallCap Index rallied 0.43%.

The market breadth was strong. On the BSE, 2,173 shares rose and 1,741 shares fell. A total of 287 shares were unchanged.

IPO Update:

Augmont Enterprises received bids for 49,74,010 shares as against 77,15,999 shares on offer, according to stock exchange data at 11:30 IST on 21 August 2026. The issue was subscribed 0.64 times.

The issue opened for bidding on 21 August 2026 and it will close on 25 August 2026. The price band of the IPO is fixed between Rs 750 and Rs 788 per share. An investor can bid for a minimum of 19 equity shares and multiples thereof.

Tempsens Instruments(India) received bids for 15,93,09,850 shares as against 1,51,81,667 shares on offer, according to stock exchange data at 11:30 IST on 21 August 2026. The issue was subscribed 10.49 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 11,63,23,935 shares as against 2,53,28,946 shares on offer, according to stock exchange data at 11:30 IST on 21 August 2026. The issue was subscribed 4.59 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.

Buzzing Index:

The Nifty Private Banks Index rose 0.57% to 27,604.40. The index rallied 1.45% in two consecutive trading sessions.

Bandhan Bank (up 1.58%), Kotak Mahindra Bank (up 1.41%), HDFC Bank (up 0.95%), Federal Bank (up 0.89%), IDFC First Bank (up 0.50%), ICICI Bank (up 0.42%) and Yes Bank (up 0.26%) advanced.

On the other hand, RBL Bank (down 0.82%) and IndusInd Bank (down 0.39%), edged lower.

Stocks in Spotlight:

Saatvik Green Energy jumped 3.80% after the company?s material subsidiary, Saatvik Solar Industries has received an order from reputed independent power producer/EPC player to supply solar photovoltaic (PV) modules.

Lemon Tree Hotels rose 0.42%. The company announced the opening of Lemon Tree Hotel, Bharuch, marking its 12th operational hotel in Gujarat. The company has 20 more hotels in the pipeline across the state.

Tata Motors Passenger Vehicles shed 0.14%. The company will increase prices of its cars and SUVs by up to Rs 25,000 from 1 September 2026.

Global Market:

Asian stocks were trading mostly higher on Friday, despite a sharp overnight selloff on Wall Street. However, sentiment remained cautious as Brent crude climbed above $93 a barrel amid unresolved US-Iran tensions, keeping inflation concerns elevated.

In Japan, core consumer inflation accelerated to 1.8% year-on-year in July from 1.6% in June, marking the fastest pace since January. Underlying inflation, excluding fresh food and energy, rose 1.9%, while headline inflation also increased 1.9%. The firmer inflation data strengthened expectations that the Bank of Japan could raise interest rates as soon as its September meeting.

Wall Street fell sharply on Thursday, with the Dow Jones Industrial Average declining 1.32%, the S&P 500 falling 0.87% and the Nasdaq Composite losing 1%, as Treasury yields resumed their climb. The 10-year US Treasury yield rose to around 4.70%, while the 30-year yield touched 5.25%.

Walmart shares plunged 9.2% after its US comparable sales growth slowed to 2.6% in the second quarter, below market expectations, with higher fuel prices weighing on consumer spending.

Investors will now turn their attention to the Federal Reserve's policy outlook and the upcoming Jackson Hole Economic Policy Symposium from 27-29 August.

Powered by Capital Market - Live News