Nifty above 24,100 level; metal shares in demand
At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 232.27 points or 0.30% to 77,189.54. The Nifty 50 index rose 44.80 points or 0.19% to 24,125.20.
In the broader market, the BSE 150 MidCap Index fell 0.15% and the BSE 250 SmallCap Index rose 0.41%.
The market breadth was positive. On the BSE, 2,074 shares rose and 1,875 shares fell. A total of 269 shares were unchanged.
Initial Public Offer (IPO):
Purple Style labs received bids for 10,50,400 shares as against 68,49,816 shares on offer, according to stock exchange data at 11:15 IST on 1 September 2026. The issue was subscribed 0.15 times.
The issue opened for bidding on 31 August 2026 and will close on 2 September 2026. The price band of the IPO is fixed between Rs 546 and 575 per share. An investor can bid for a minimum of 26 equity shares and multiples thereof.
Deepa Jewellers received bids for 49,98,672 shares as against 1,85,20,085 shares on offer, according to stock exchange data at 11:15 IST on 1 September 2026. The issue was subscribed 0.27 times.
The issue opened for bidding on 1 September 2026 and will close on 3 September 2026. The price band of the IPO is fixed between Rs 168 and 177 per share. An investor can bid for a minimum of 84 equity shares and multiples thereof.
Rays of Belief received bids for 11,67,026 shares as against 31,37,810 shares on offer, according to stock exchange data at 11:15 IST on 1 September 2026. The issue was subscribed 0.37 times.
The issue opened for bidding on 1 September 2026 and will close on 3 September 2026. The price band of the IPO is fixed between Rs 227 and 239 per share. An investor can bid for a minimum of 62 equity shares and multiples thereof.
Priority Jewels received bids for 14,13,78,825 shares as against 32,02,500 shares on offer, according to stock exchange data at 11:06 IST on 1 September 2026. The issue was subscribed 44.15 times.
The issue opened for bidding on 28 August 2026 and will close on 1 September 2026. The price band of the IPO is fixed between Rs 190 and 200per share. An investor can bid for a minimum of 75 equity shares and multiples thereof.
EDS Software Solution received bids for 40,83,44,488 shares as against 1,23,52,942 shares on offer, according to stock exchange data at 11:15 IST on 1 September 2026. The issue was subscribed 33.06 times.
The issue opened for bidding on 28 August 2026 and will close on 1 September 2026. The price band of the IPO is fixed between Rs 408 and 429 per share. An investor can bid for a minimum of 34equity shares and multiples thereof.
Buzzing Index:
The Nifty Metal index rose 1.06% to 13,333.35. The index fell 2.45% in the past trading session.
Jindal Stainless (up 3.73%), Welspun Corp (up 2.43%), Steel Authority of India (up 1.56%), Adani Enterprises (up 1.41%), Hindalco Industries (up 0.78%), APL Apollo Tubes (up 0.75%), JSW Steel (up 0.67%), Hindustan Zinc (up 0.62%), Lloyds Metals & Energy (up 0.42%) and Hindustan Copper (up 0.42%) rose.
Stocks in Spotlight:
SML Mahindra rallied 2.30% after the company announced that it sold 1,175 units in August 2026, registering a 40% growth from 842 units sold in the same period last year.
Escorts Kubota rose 0.80%. The company said that its Agri Machinery Business in August 2026 sold 10,072 tractors as against 8,456 tractors sold in August 2025, thereby registering a growth of 19.1% on year-on-year (YoY) basis.
Global Markets:
Asian markets traded higher on Tuesday despite renewed US-Iran hostilities that pushed oil prices higher and revived concerns over inflation and interest rates. Investors were also assessing the prospect of further Federal Reserve rate hikes following hawkish comments from Fed Chair Kevin Warsh.
Wall Street ended lower on Monday, with rising Treasury yields and higher oil prices weighing on risk assets. The S&P 500 fell 0.33%, the Nasdaq Composite declined 0.12% and the Dow Jones Industrial Average dropped 0.70%. The market is also looking ahead to the US nonfarm payrolls report due on Friday, which could provide fresh clues on the Federal Reserve's policy path.
Oil prices climbed above $90 a barrel after the US and Iran resumed military strikes following a period of relative calm. US forces struck Iranian rocket launchers on Larak Island in the Strait of Hormuz, while Iran retaliated with attacks on US military targets in Jordan. The escalation has raised concerns over prolonged supply disruptions through the key oil shipping route.
Brent crude settled at $90.49 a barrel on Monday, up 2.71%, while the US 10-year Treasury yield rose to around 4.75%. Higher oil prices have revived concerns over persistent inflation, potentially strengthening the case for tighter monetary policy.
The renewed conflict has also increased uncertainty over the outlook for the Strait of Hormuz, through which a significant share of global oil shipments normally passes. Shipping activity has fallen sharply amid the hostilities, adding to concerns about further supply disruptions.
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