Nifty trade below 24,200 in early trade; breadth positive
At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 22.17 points or 0.03% to 77,348.29. The Nifty 50 index lost 34.20 points or 0.15% to 24,183.10.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index fell 0.01% and the BSE 250 SmallCap Index shed 0.02%.
The market breadth was positive. On the BSE, 1,714 shares rose and 1,325 shares fell. A total of 219 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,181.66 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,493.41 crore in the Indian equity market on 24 August 2026, according to provisional data.
Stocks in Spotlight:
Tata Consultancy Services (TCS) shed 0.07%. The company announced a strategic partnership with Porsche AG for enabling AI services across the mobility value chain for Porsche. As part of the deal, TCS will establish a dedicated AI Mobility Centre of Excellence for Porsche to drive innovation across manufacturing, engineering, operations and customer experience. The company will acquire Porsche AG arm MHP Management for 320 million euros.
ICICI Bank rose 0.27%. The company priced $1 billion Senior Unsecured Fixed Rate Notes under its $7.5 billion Global Medium Term Note Programme. The notes have a five-year tenure and will mature on 27 August 2031. The notes carry a coupon rate of 5.410%, with interest payable semi-annually on 27 February and 27 August each year until maturity.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.38% to 6.870 compared with the previous session close of 6.872.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.7375 compared with its close of 95.7000 during the previous trading session.
MCX Gold futures for the 5 October 2026 settlement shed 0.13% to Rs 1,63,022.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 99.05.
The United States 10-year bond yield rose 0.28% to 4.717.
In the commodities market, Brent crude for October 2026 settlement rose 21 cents or 0.23% to $93.38 a barrel.
Global Markets:
Asian shares traded lower on Tuesday, tracking a mixed close on Wall Street as investors turned cautious ahead of a data-heavy week featuring Nvidia's earnings, US inflation data and Federal Reserve Chair Kevin Warsh's first Jackson Hole speech.
Wall Street ended mixed on Monday, with technology and semiconductor stocks under pressure as investors assessed fresh US economic measures against Iran. The Dow Jones Industrial Average rose 0.26%, while the S&P 500 fell 0.28% and the Nasdaq Composite declined 0.76%. Nvidia dropped 2.9%, while Micron Technology and Broadcom also fell, weighing on the technology-heavy indexes.
Investor focus also remained on Washington's escalating pressure on Tehran. US Treasury Secretary Scott Bessent outlined a tougher sanctions campaign against Iran, warning of further measures against countries and entities that continue to facilitate trade with Tehran and describing the next phase as an economic D-Day. The latest measures are aimed at intensifying pressure on Iran's remaining economic channels, while markets are also monitoring the potential impact on oil supplies and the Strait of Hormuz.
Oil prices extended their decline on Tuesday after falling sharply in the previous session, offering some relief to bond markets. Brent crude had settled at around $92.17 a barrel on Monday, down 2.4%, as investors assessed the impact of the latest US sanctions and their potential implications for the US-Iran conflict.
US Treasury yields also eased, with the 10-year yield around 4.70% after ending the previous session near that level. The decline came after oil prices fell and investors continued to assess the outlook for inflation, government borrowing and Federal Reserve policy.
The immediate focus is likely to remain on Nvidia, which is scheduled to report its second-quarter fiscal 2027 results after the US market close on Wednesday, 26 August.
Investors will also track the US July Personal Consumption Expenditures price index, the Federal Reserve's preferred inflation gauge, due on Wednesday. The data could influence expectations for the Fed's upcoming policy decisions.
Meanwhile, the Jackson Hole Economic Policy Symposium is scheduled for 27-29 August, with Fed Chair Kevin Warsh set to deliver his first major speech at the event on Friday, 28 August. His remarks will be closely watched for clues on the outlook for interest rates amid persistent inflation concerns and elevated Treasury yields.
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