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Below the Quote on Daily Market Commentary for August 19th 2026 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd 

Nifty is expected to remain under pressure amid weak global cues, elevated crude prices and continued geopolitical tensions. Nifty 50 extended losses for the seventh consecutive session, declining 0.3%, while the Nifty Midcap 100 and Nifty Smallcap 100 fell 0.2% and 0.5%, respectively. Crude prices remained elevated at around $91.2/bbl, while Asian markets traded lower, led by South Korea’s Kospi, which declined over ~5%. Geopolitical concerns escalated after the 60-day deadline lapsed without a resolution, with both sides maintaining an aggressive stance. Higher long-term bond yields in the US, Germany and Japan are also weighing on emerging-market equities by improving the appeal of developed-market bonds.

Among sectors, Among sectors, Nifty IT was the only sectoral gainer, rising 0.4% and snapping a four-day losing streak, supported by value buying and capital rotation into domestic IT stocks. Indraprastha Gas and Mahanagar Gas gained 3-4%, following government incentives aimed at boosting domestic piped-gas connections, providing a positive outlook for city gas distributors. Additionally, Indian refiners remained under pressure as Gulf and West African crude premiums rose, while discounts on Russian and Venezuelan crude narrowed, raising input costs and potentially weighing on refining margins. This is negative for Reliance Industries, IOC, BPCL and HPCL unless offset by stronger product cracks or higher domestic fuel prices. Sugar stocks also remained in focus, gaining up to 10%, as global raw sugar prices touched a 14-month high and domestic prices rose to around rupees 5,350/quintal amid tight supplies, low mill inventories and expectations of strong festive demand. Higher sugar realisations are positive for mill margins, though potential government intervention remains a key risk.

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