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Market Outlook: Indian equities are likely to witness a mildly negative start, with Gift Nifty declining 0.28% to 24,144. The Nifty 50 closed at 24,219, down 0.1%, while the Sensex declined 0.2% and Nifty Bank fell 0.4%. Market breadth remained mixed, with the NSE advance-decline ratio at 1,428:1,352, while BSE breadth was negative at 2,041 advances versus 2,393 declines. Midcaps gained 0.13%, supported by Vishal Mega Mart, SAIL and Glenmark, while smallcaps declined 0.21%. Global cues remain mixed, with the S&P 500 and Nasdaq 100 declining 0.28% and 0.98%, respectively, while the Dow Jones gained 0.26%.

FII & DII Activity: Institutional flows remained supportive on 24th August, with FIIs/FPI recording net buying of Rs 1,182 crore, while DIIs were also net buyers to the tune of Rs 2,493 crore. Both foreign and domestic institutions therefore provided liquidity support to the market despite the marginal decline in headline indices.

Sector Activity: Sectoral performance remained mixed, with Metals emerging as the strongest performer, gaining 1.6%, followed by IT, Energy and Manufacturing, which rose 0.2% each. Oil & Gas gained 0.1%, while Healthcare and FMCG remained broadly flat. On the weaker side, PSU Banks declined 0.9%, while Financial Services and Private Banks fell 0.4% and 0.3%, respectively. The report highlights continued tactical rotation towards metals, realty and IT, while higher bond yields and crude volatility remain key drivers of sector performance.

F&O Activity: Long build-up was seen in IREDA, GVT&D, Siemens, Dr Reddy’s Laboratories and DMart, indicating fresh buying interest in these stocks. Short build-up was observed in Dixon, IRFC, CDSL, Zydus Life and Trent. Long unwinding was witnessed in RVNL, Dalmia Bharat, Kaynes, Godfrey Phillips and Bosch, while short covering was seen in NMDC, SBI Cards, SAIL, Vishal Mega Mart and Voltas.

Top 5 News:

TCS: Porsche AI Deal and MHP Acquisition
TCS will acquire 100% of Porsche’s IT consulting subsidiary MHP for €320 million and has entered into a five-year strategic partnership with Porsche worth €1.25 billion. TCS will also establish an AI Mobility Centre of Excellence for Porsche.
Hindustan Copper: Government Announces OFS
The Government of India has announced an offer for sale of up to 2.90 crore Hindustan Copper shares at a floor price of Rs 514 per share. The non-retail portion opens on 25th August, followed by the retail portion on 26th August.
Ratnamani: Secures Rs 2,700 Crore Export Orders
Ratnamani’s subsidiary Ratnamani Finow Spooling Solutions has secured export orders worth approximately Rs 2,700 crore for spools and hangers. The orders are expected to be executed over the next 2–3 years, strengthening the company’s export order pipeline.
Tata Power: Commissions 190.5 MW Renewable Project
Tata Power Renewable Energy has commissioned a 190.5 MW Firm and Dispatchable Renewable Energy project in Rajasthan. The commissioning further expands Tata Power’s operational renewable-energy portfolio.
Aegis Logistics: Rs 525 Crore Ammonia Terminal Acquisition
Aegis Terminal Pipavav, a subsidiary of Aegis Logistics, will acquire a 36,000 MT ammonia storage terminal from promoter Aegis Logistics for Rs 525 crore. The transaction will add specialised ammonia storage capacity at Pipavav Port.

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