The Indian stock market is likely to begin yesterday’s session on a cautious note as the GIFT Nifty will start with a weak start. Investors will be tracking global market signals, crude oil prices, gold, corporate news, IPO subscription, and derivatives positioning for direction.
The Nifty 50 was down 32.95 points or 0.14 percent at 24,219.05, and the Sensex declined 170.70 points or 0.22 percent to 77,370.13. Both indices ended down after two consecutive days of gains.
Global Market Cues
Global markets were cautious on Wall Street as technology and semiconductor stocks fell on Wall Street. The Nasdaq 100 was down 1.6%, and the S&P 500 fell 0.7% as the market was down 0.5% as technology and semiconductor stocks are under pressure on Wall Street. Asian markets will also start under pressure as the overnight weakness in US stocks continued to weigh.
The commodity market could continue to be a key factor for Indian investors. Brent crude was near $92 a barrel and WTI crude around $85. Gold, meanwhile, continued to struggle with a three-month high and was at $4,680 an ounce. Gold had risen more than 7% in four days and silver also rose more than 7% during that period.
Stocks in Focus
Several companies have important corporate developments that could influence trading activity.
Tata Consultancy Services (TCS) is among the most interesting stocks to watch after it acquired Porsche AG arm MHP Management for 320 million euros. TCS also signed a five-year strategic deal with Porsche AG and MHP for 1.25 billion euros for its business.
Great Eastern Shipping will be closely watched after its board said on August 27 that it would consider a share buyback proposal.
Hindustan Copper is in focus as the government plans to divest a 3% stake through an offer for sale, with an additional 3% green-shoe option. The reported floor price is Rs 514 per share.
Afcons Infrastructure could attract attention after receiving a Rs 335.50 crore arbitral award against the Uttar Pradesh Expressways Industrial Development Authority.
Coal India has also set up a Singapore-based arm, CIL Global Pte. Ltd., to explore overseas opportunities in critical minerals and facilitate overseas investments.
Coromandel International is also on the radar after its subsidiary Dhaksha Unmanned Systems inaugurated a new manufacturing facility in Kancheepuram, Tamil Nadu, for supporting larger and more complex UAV programmes.
The other notable developments include Tata Communications issuing commercial paper worth Rs 300 crore, UCO Bank approving foreign-currency fundraising of up to $1 billion, ICICI Bank pricing $1 billion of senior unsecured notes and Can Fin Homes considering fundraising of up to Rs 5,000 crore.
IPO Activity
The primary market is still active. Augmont Enterprises’ IPO had total subscriptions of 14.46 times as of Day 2, with NII subscription at 33.65 times and retail subscription at 13.37 times.
HY Tech Engineers’ issue was subscribed 7.74 times on Day 1, while Symbiotec Pharmalab’s IPO was 0.80 times. Skyways Air had a total subscription of 1.16 times on Day 1.
Annu Projects is another issue opening for subscription on August 25. The EPC infrastructure company is issuing an issue of about Rs 175 crore, consisting entirely of a fresh issue of 1.77 crore shares. The issue closes on August 28.
In FY26, total income was Rs 244.59 crore in comparison to Rs 182.35 crore in FY25. The profit after tax rose to Rs 33.03 crore from Rs 21.10 crore, and EBITDA to Rs 50.19 crore. Its margin on EBITDA was 20.52% for the same period.
Bulk and Block Deals
Meesho witnessed significant institutional activity at Rs 200.01 per share. Many institutional investors, including Nippon India Mutual Fund, HDFC Standard Life Insurance, Morgan Stanley Asia Singapore, Edelweiss Mutual Fund and other global institutions were buyers. Y Combinator Continuity Holdings I LLC, YCS16 Holdings LLC and YCVC Fund I L.P. were sellers at the same price.
Lenskart also saw significant block activity at Rs 641.75 per share. SVF II Lightbulb sold 450 lakh shares, while a variety of institutional investors, including Societe Generale ODI, Goldman Sachs entities, Motilal Oswal Mutual Fund, HDFC Mutual Fund and several Vanguard funds, were among the reported buyers.
Other transactions included buying in Ratnaveer Precision Engineering and Senco Gold, while Amansa Investments sold shares of Standard Engineering Technology.
F&O Setup
The derivatives market is pointing to a range-bound one. Nifty August futures were down 1.4 percent at 24,188.10, a 31-point discount to the spot index.
For the August 25 expiry, maximum Call open interest was seen at 24,300, while maximum Put open interest was concentrated at 24,000. These levels could be key near-term resistance and support levels, respectively.
Other Market Triggers
Investors will also be watching corporate actions and regulatory developments. Waterways Leisure Tourism has announced a face-value subdivision of Rs 10 to Rs 1 per share. Shreeji Shipping Global has 104 million shares, or 64% of total outstanding shares, under a one-year lock-in.
Allcargo Logistics and Shanthi Gears have changed price band from 20% to 10% while Waterways Leisure Tourism has changed price band from 10% to 5%. Allcargo Logistics, Asian Energy Services, Kennametal India and UFLEX have been shortlisted under the short-term ASM framework. In general, the August 25 trading session is likely to be dominated by weak global technology cues, crude oil movements, institutional activity, corporate announcements and Nifty's derivatives setup. With 24,300 emerging as a key Call open-interest zone and 24,000 as the major Put concentration, traders may be looking out for signs of a breakout or further consolidation.
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