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 22nd August to 28th August |
| | The week started on a hopeful note: falling crude oil prices, a stronger rupee and buying by foreign and domestic institutions helped the market recover. However, the optimism did not last. Elevated US bond yields, uncertainty over Federal Reserve’s monetary policy and changing expectations around crude oil kept investors on tenterhooks. The week’s biggest drama arrived just when investors thought trading was over. During the first monthly derivatives expiry under the new Closing Auction Session (CAS), the Sensex’s indicative level briefly plunged more than 2,000 points before recovering. The final decline was much smaller, but the episode showed how large expiry orders and limited auction participation are creating sharp movements near the close. Sugar stocks first rallied after the government cut the stockholding limit for bulk consumers from 30 days to 15 days but later fell after it allowed duty-free imports of 1 million tonnes of raw sugar until October 31. The week therefore remained characterised by global macro pressure at the index level and strong policy-driven divergence across sectors. | |
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| | Benchmark Index Moves | | Index | | Nifty 50 | Sensex | Bank Nifty |
| | | | Closing Level | | 24,175.65 | 77,264.51 | 57,496.30 |
| | | | % Weekly Change | | ▼ -0.47% | ▼ -0.44% | ▼ -0.53% |
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Market Breadth: The momentum in the markets was negative with total gainers at 2,786 and total losers at 2,747. | |
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| |  | | Top Weekly Gainers & Losers (Nifty 100) |
 Gainers
Stock Name | % weekly change | Delivery volumes in past week Vs prev month | Hindustan Zinc | ▲ 8.38% | 1.6X | Divi's Laboratories | ▲ 7.81% | 0.8X | Zydus Lifesciences | ▲ 7.52% | 1.0X | Vedanta | ▲ 7.44% | 1.3X | Kotak Mahindra Bank | ▲ 6.63% | 1.7X |
Divi’s Laboratories rose this week as sustained buying in the pharmaceutical sector pushed the stock to a fresh 52-week high, supported by its strong profitability and capital-efficiency profile. | |
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| |  Losers
Stock Name | % weekly change | Rise in delivery volumes in past week Vs previous month | Tata Power | ▼ -6.24% | 1.7X | Siemens Energy | ▼ -5.61% | 1.1X | Varun Beverages | ▼ -5.54% | 1.8X | Britannia Industries | ▼ -4.32% | 1.1X | Indian Hotels | ▼ -4.00% | 0.6X |
Tata Power shares fell after a Singapore court dismissed its appeal and upheld a $490 million arbitration award in favour of Kleros Capital, raising concerns over a significant potential financial liability. | |
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| |  | | Stocks & Sectors in the News |
 | Information Technology | What happened IT stocks faced pressure for most of the week before staging a sharp recovery in the final session. TCS, Tech Mahindra, Infosys and Wipro led the rebound. However, the late recovery was not enough to fully reverse the sector’s weakness during the middle of the week.
Why it happened Concerns around proposed US visa costs, overseas client spending and AI-led disruption initially weighed on Indian IT services companies. Sentiment improved after Nvidia’s strong results and outlook revived confidence in global AI and technology spending. | Which stocks moved | ▼ | HCLTech | ▲ | TCS | ▲ | Tech Mahindra |
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|  | Metals and Mining | What happened Metal stocks began strongly, with Hindalco, JSW Steel and Tata Steel leading the early gains. Hindustan Zinc also attracted buying interest after the centre clarified it had no immediate plans for an offer for sale (OFS). Momentum weakened later as profit-booking emerged, while Hindustan Copper recorded a sharp decline as its discounted OFS created cheaper supply of its shares.
Why it happened Hindustan Copper faced additional pressure due to the government’s offer for sale. Improving commodity sentiment and rotation towards cyclical stocks supported the sector initially. Later, uncertainty around global demand and base-metal prices triggered selling.
| Which stocks moved | ▲ | Hindustan Zinc | ▼ | Hindustan Copper |
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|  | Automotive | What happened Company-specific EV announcements created optimism around electric two-wheelers. However, TVS Motor, Maruti Suzuki, Ashok Leyland and auto-component maker Apollo Tyres faced selling pressure.
Why it happened Ather Energy rallied after Hero MotoCorp announced a fresh investment, while Ola Electric gained following a new scooter launch. Other OEMs remained mixed as investors assessed demand and valuations. Apollo Tyres weakened after a large block deal involving approximately 3.37% of its equity. | Which stocks moved ▲ | Ather Energy | ▼ | Hero MotoCorp | ▼ | Maruti Suzuki |
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|  | Financial Services | What happened Banking leadership kept changing during the week. SBI, Canara Bank, Union Bank of India, Kotak Mahindra Bank and Axis Bank gained during different sessions. However, weakness in HDFC Bank, ICICI Bank, Shriram Finance, and Bajaj Finserv limited the sector’s overall performance. Why it happened: HDFC Bank fell after reports of a US class-action lawsuit alleging securities law violations linked to disclosures and governance practices. Lower crude oil initially eased inflation and interest rate concerns, encouraging selective buying in banks. However, profit-booking and stock-specific selling prevented a broad rally. | Which stocks moved ▲ | Axis Bank | ▲ | SBI | ▼ | Canara Bank |
| ▲ | Kotak Mahindra Bank | ▼ | HDFC Bank | ▲ | ICICI Bank |
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| |  | | Top Delivery-volume Movers (Nifty 500) |
Rising Delivery Volume (Last week vs Prev month) Stock Name | Avg delivery volume % | Avg month delivery volume % | Avg 6-month delivery volume | ICICI Prudential AMC | 78.18 | 74.63 | 66.00 | Coromandel International | 81.78 | 72.23 | 59.73 | Avenue Supermarts | 76.38 | 66.73 | 54.86 | Aptus Value Housing | 72.87 | 61.75 | 54.84 | Shree Cements | 78.46 | 60.26 | 55.42 |
ICICI Prudential AMC fell as promoter Prudential Corporation sold a 2% stake via a block deal. This led to surge in delivery volume because roughly 99 lakh shares changed hands in that deal. Falling delivery volume (Last week vs Prev month) Stock Name | Avg delivery volume % | Avg month delivery volume % | Avg 6-month delivery volume | Tenneco Clean Air | 59.88 | 68.95 | 57.52 | Pfizer | 47.86 | 73.72 | 62.16 | DOMS Industries | 53.29 | 58.74 | 39.52 | Honeywell Automation | 42.40 | 44.59 | 45.70 | Blue Star | 42.65 | 48.12 | 43.26 |
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| |  | | Year high and year low in the past week (Nifty 200) |
Stocks that hit their 52-week high: Bosch, Solar Industries, Oracle Financial Services, Bajaj Auto, Divi's Laboratories, Titan Company, TVS Motor Company, Siemens, Glenmark Pharmaceuticals, Bosch, Solar Industries, Oracle Financial Services, Bajaj Auto, Divi's Laboratories, Titan Company, TVS Motor Company, Siemens, Glenmark Pharmaceuticals, Coforge, Laurus Labs, One97 Communications, United Spirits, JSW Steel, AU Small Finance Bank, Lenskart Solutions, and Vodafone Idea Stocks that hit their 52-week low: PI Industries, Hindustan Unilever, HDFC Bank, Indian Railway Catering, Dabur, ITC, Rail Vikas Nigam, and IRFC Gaja Alternative Asset Management’s ₹550-crore IPO closed with strong demand, receiving an overall subscription of 32.98 times. Non-institutional investors led the bidding at 65.63 times, followed by qualified institutional buyers at 45.87 times and retail investors at 11.61 times.
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 Note: The stocks given in the table above are only for informational purposes and are not recommendations. | |
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| |  | | Research Calls (Long-Term) |
Research Partner | Date of call | Stock | View | Target Price (₹) | Markets Mojo | 25th Aug | Ipca Laboratories | BUY | 1,930.20 | William O’ Neil India | 27th Aug | Aditya Vision | BUY | 575.00 |
Here is how some of the expert research calls are performing Research Partner | Date of call | Stock/Scrip | Entry Price (₹) | Price movement since call (%) | Markets Mojo | 25th Aug | Kennametal India | 4,122.35 | 12.24% |
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| |  | | Commodity Moves |
| |  | | Brent Crude | | | |  | | Gold Futures | | | |  | | Silver Futures | | | |  | | Natural Gas Futures (NYMEX) | | | |  | | Copper Futures | |
| | | | $87.86 | | | | $4,667.06 | | | | $70.95 | | | | $2.90 | | | | $6.60 | |
| | | | -5.19% | | | | -0.29% | | | | 2.04% | | | | 3.27% | | | | 0.22% | |
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| |  | | Forex Moves |
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| |  | | FIIs vs DIIs |
Last week | | (In ₹ crore) | Cash (provisional) | Index Futures | Stock Futures | Index Options | Stock Options | | | | FIIs | 2,436.80 | -4,880.30 | 319.40 | 41,329.30 | -3,877.50 | | | | DIIs | 16,250.20 | 118.10 | -177.20 | -30.00 | -2,220.60 | |
Year-to-date | | (In ₹ crore) | Cash | Index Futures | Stock Futures | Index Options | Stock Options | | | | FIIs | -3,46,029.00 | -79,482.40 | -17,615.00 | -6,28,457.30 | -43,048.80 | | | | DIIs | 5,53,731.80 | 4,876.90 | 19,171.90 | 8,282.70 | -1,58,535.30 | |
Note: FII data is as of 20th August 2026 and DII F&O data up to 14th August 2026 only. | |
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| |  | | Global Signals | |
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Aisan Markets
Asian markets told different stories this week. Japan moved higher as steady inflation strengthened expectations of a possible Bank of Japan rate hike. Chinese shares gained support from encouraging corporate earnings, while South Korea struggled as enthusiasm around technology stocks cooled. By Friday, strong US tech earnings lifted sentiment across much of the region, but investors remained cautious ahead of global central-bank commentary.
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European Markets
European markets attempted a late recovery, but it was not enough to erase the week’s pressure. The STOXX 600 headed towards its third consecutive weekly decline as rising bond yields increased borrowing costs and weighed on rate-sensitive sectors such as real estate. Elevated energy prices and stubborn inflation added to the unease, while hawkish ECB commentary reduced hopes of early policy support. The result was a market that bounced on Friday but remained cautious overall.
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US Markets
Wall Street began the week cautiously as technology shares weakened ahead of Nvidia’s results. The mood changed sharply after Nvidia delivered strong earnings and an upbeat forecast, reviving confidence in AI-led growth and lifting the Nasdaq and S&P 500. However, the celebration was measured. Elevated inflation and long-term bond yields kept investors focused on the commentary post the Federal Reserve’s Jackson Holeretreat, which could shape expectations for interest rates and market sentiment in the coming weeks.
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As the market moves into a new week, global signals may once again set the tone. The Federal Reserve’s policy commentary could influence US bond yields, the dollar and FII flows into India. Crude oil and developments around the Strait of Hormuz will also remain important for the rupee, inflation expectations and oil-sensitive sectors.
Back home, investors will hope that Friday’s IT-led recovery develops into a broader trend. After the sharp expiry-day movements, activity during the CAS may also remain under scrutiny.
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| |  | | Upcoming events (22nd August to 28th August 2026) |
Macroeconomic events & Earnings 31
August
Real GDP (India)
| | 31
August
Central Govt Expenditure (India)
| | 01
September
Net Equity Flows (India) | | 01
September
GST Collections (India) |
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August 31, 2026 | 23 mins read
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