Sensex slides 124 pts; IT shares tumble
At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 124.30 points or 0.16% to 77,244.81. The Nifty 50 index lost 66.90 points or 0.28% to 24,152.15.
In the broader market, the BSE 150 MidCap Index fell 0.07% and the BSE 250 SmallCap Index shed 0.21%.
The market breadth was negative. On the BSE, 1,712 shares rose and 2,198 shares fell. A total of 268 shares were unchanged.
Initial Public Offer (IPO):
Annu Projects received bids for 8,39,560 shares as against 1,76,83,000 shares on offer, according to stock exchange data at 11:20 IST on 25 August 2026. The issue was subscribed 0.05 times.
The issue opened for bidding on 25 August 2026 and will close on 28 August 2026. The price band of the IPO is fixed between Rs 94 and 99 per share. An investor can bid for a minimum of 151 equity shares and multiples thereof.
Augmont Enterprises received bids for 16,55,68,945 shares as against 77,15,999 shares on offer, according to stock exchange data at 11:20 IST on 25 August 2026. The issue was subscribed 21.46 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 4,62,98,700 shares as against 2,95,83,600 shares on offer, according to stock exchange data at 11:20 IST on 25 August 2026. The issue was subscribed 1.57 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 1,51,01,925 shares as against 1,31,24,929 shares on offer, according to stock exchange data at 11:20 IST on 25 August 2026. The issue was subscribed 1.15 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 21,10,61,683 shares as against 1,81,45,406 shares on offer, according to stock exchange data at 11:20 IST on 25 August 2026. The issue was subscribed 11.63 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 IT index fell 0.69% to 30,385.05. The index rose 0.21% in the past trading session.
HCL Technologies (down 1.66%), Persistent Systems (down 1.42%), Oracle Financial Services Software (down 1.19%), Tech Mahindra (down 1.1%), Wipro (down 0.92%), Mphasis (down 0.63%), Tata Consultancy Services (down 0.53%), LTM (down 0.43%), Infosys (down 0.3%) fell.
Stocks in Spotlight:
Larsen & Toubro shed 0.11%. The company announced that its renewables business vertical has secured a major order to develop three Battery Energy Storage System (BESS) projects for a prominent client in the Middle East.
Sudarshan Chemical Industries rose 0.33%. The company said that its Sudarshan Switzerland SLO AG has signed a definitive asset sale and transfer agreement with Clariant Additives (Switzerland) AG to acquire its aluminium dyes and chemicals manufacturing plant in Muttenz.
Global Markets:
Asian markets 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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