Market pare gains; PSU bank shares tumble
At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 157.86 points or 0.20% to 77,386.07. The Nifty 50 index lost 51.20 points or 0.21% to 24,200.95.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index advanced 0.02% and the BSE 250 SmallCap Index rose 0.25%.
The market breadth was positive. On the BSE, 2,156 shares rose and 1,945 shares fell. A total of 269 shares were unchanged.
Initial Public Offer (IPO):
Tempsens Instruments (India) received bids for 32,86,32,350 shares as against 1,51,81,667 shares on offer, according to stock exchange data at 11:20 IST on 24 August 2026. The issue was subscribed 21.65 times.
The issue opened for bidding on 20 August 2026 and will close on 24 August 2026. The price band of the IPO is fixed between Rs 285 and 300 per share. An investor can bid for a minimum of 50 equity shares and multiples thereof.
Augmont Enterprises received bids for 2,11,33,624 shares as against 77,15,999 shares on offer, according to stock exchange data at 11:20 IST on 24 August 2026. The issue was subscribed 2.74 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 788 per share. An investor can bid for a minimum of 19 equity shares and multiples thereof.
Skyways Air Services received bids for 72,06,700 shares as against 2,95,83,600 shares on offer, according to stock exchange data at 11:20 IST on 24 August 2026. The issue was subscribed 0.24 times.
The issue opened for bidding on 24 August 2026 and will close on 27 August 2026. The price band of the IPO is fixed between Rs 131 and 138 per share. An investor can bid for a minimum of 100 equity shares and multiples thereof.
Symbiotec Pharmalab received bids for 19,92,825 shares as against 1,31,24,929 shares on offer, according to stock exchange data at 11:20 IST on 24 August 2026. The issue was subscribed 0.15 times.
The issue opened for bidding on 24 August 2026 and will close on 27 August 2026. The price band of the IPO is fixed between Rs 938 and 988 per share. An investor can bid for a minimum of 15 equity shares and multiples thereof.
Hy-Tech Engineers received bids for 2,90,74,571 shares as against 1,81,45,406 shares on offer, according to stock exchange data at 11:20 IST on 24 August 2026. The issue was subscribed 1.60 times.
The issue opened for bidding on 24 August 2026 and will close on 27 August 2026. The price band of the IPO is fixed between Rs 50 and 53 per share. An investor can bid for a minimum of 283 equity shares and multiples thereof.
Buzzing Index:
The Nifty PSU Bank index fell 1.22% to 8,514.90. The index rose 0.04% in the past trading session.
Canara Bank (down 2.01%), Bank of Baroda (down 1.96%), State Bank of India (down 1.13%), Punjab National Bank (down 0.88%), Bank of India (down 0.72%), Union Bank of India (down 0.52%), Indian Overseas Bank (down 0.24%), Central Bank of India (down 0.22%), Punjab & Sind Bank (down 0.21%) and Indian Bank (down 0.15%) fell.
Stocks in Spotlight:
Monarch Surveyors and Engineering Consultants added 1.83% after the company announced that it has received a work order worth Rs 1.68 crore from Fursungi-Uruli Devachi Nagar Parishad.
Smartworks Coworking Spaces added 2.26% after the company announced that it has added Rs 235 crore of incremental contracted rental revenue through expansion mandates from existing clients across multiple cities.
Global Markets:
Asian stocks were largely subdued on Monday, as rising government bond yields around the world continued to weigh on risk appetite. Bond yields in Japan, France and Germany have climbed to multiyear highs, while U.S. long-term yields have also remained elevated.
Investors remained concerned that the U.S.-Iran conflict could drag on, keeping oil prices elevated and adding to inflationary pressures. President Donald Trump has threatened to impose penalties on countries that continue to trade with Iran, while Treasury Secretary Scott Bessent has warned of secondary sanctions. Iran has rejected the threats, and Washington is expected to announce additional sanctions on Monday.
Treasury Secretary Scott Bessent's decision to at least double the size of planned buybacks of longer-dated government debt to $4 billion per operation from $2 billion initially offered relief to the bond market. However, the gains quickly faded, with Treasury yields rebounding as investors remained concerned about inflation, government borrowing and the broader fiscal outlook.
U.S. stocks found firmer footing on Friday after data showed continued economic resilience and a sharp acceleration in services-sector activity. The Dow Jones Industrial Average rose 0.98%, while the S&P 500 gained 0.43% and the Nasdaq Composite advanced 0.44%.
S&P Global's flash PMI showed U.S. services activity accelerated sharply in August, with the Services PMI rising to 56.8 from 54.6 in July.
In individual stocks, Ross Stores rose 4.4% after the discount retailer raised its full-year earnings guidance following better-than-expected quarterly results.
In the week ahead, investors will focus on quarterly results from AI chipmaker Nvidia, along with earnings from software companies including Intuit, Salesforce and CrowdStrike. Markets will also be watching whether Nvidia's results and outlook can sustain investor enthusiasm around artificial intelligence.
The U.S. economic calendar includes the July Personal Consumption Expenditures price index, the Federal Reserve's preferred inflation gauge, due on Wednesday, 26 August.
Markets will also turn to the Federal Reserve's Jackson Hole symposium from 27-29 August, where Fed Chair Kevin Warsh is scheduled to speak on Friday. Investors will look for clues on the outlook for interest rates, particularly after stronger-than-expected August services activity reinforced concerns about inflationary pressures.
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