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Market participants remained focused on the upcoming speech by Kevin Warsh, who is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for indications of the US central bank’s monetary policy outlook.
Buying interest was seen in IT, media and pharma shares, while FMCG, auto and realty stocks lagged.
At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 118.93 points or 0.15% to 77,049.29. The Nifty 50 index rose 5.75 points or 0.02% to 24,096.60.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.20% and the BSE 250 SmallCap Index jumped 0.33%.
The market breadth was positive. On the BSE, 2,146 shares rose and 1,975 shares fell. A total of 277 shares were unchanged.
Gainers & Losers:
Tata Consultancy Services (up 4.35%), HCL Technologies (up 3.27%), Tech Mahindra (up 3.22%), Infosys (up 2.93%) and Wipro (up 2.85%) were the top gainers.
Shriram Finance (down 1.32%), ICICI Bank (down 1.27%), Asian Paints (down 1.25%), Mahindra Ultratech Cement (down 1.20%) and Tata Steel (down 1.18%) were the top losers.
Stocks in Spotlight:
Tejas Networks jumped 8.65% and Tata Consultancy Services (TCS) gained 4.35% after Tejas Networks received a Letter of Intent (LoI) from TCS for supplying equipment for Bharat Sanchar Nigam’s (BSNL) 4G mobile network.
Great Eastern Shipping Company advanced 1.06% after the company’s board approved a share buyback of up to Rs 900 crore through the open market route at a maximum price of Rs 1,530 per equity share. Under the buyback, the company will purchase up to 58,82,352 fully paid-up equity shares of face value Rs 10 each, representing up to 4.12% of the company’s total paid-up equity share capital as on 27 August 2026.
RailTel Corporation of India shed 0.05%. The company announced that it has secured a work order worth Rs 38.59 crore from the Cotton Corporation of India (CCI) for cloud data centre services.
Ather Energy surged 8.84% and Hero MotoCorp rose 1.52% after Hero MotoCorp's board approved the purchase of additional shares in Ather Energy. Hero MotoCorp currently holds 29.88% of Ather on a fully diluted basis. Following the purchase, its stake will increase to up to around 32.8%. The transaction will be completed by 3 September 2026. Hero MotoCorp will pay cash consideration of up to Rs 1,758 crore for the additional shares.
Yatharth Hospital & Trauma Care Services rose 1.15% after a report said Advent International and Blackstone-backed Aster DM Quality Care were in discussions to acquire a controlling stake in the hospital chain.
Wipro rose 2.43% after the company announced an expansion of its partnership with Google Cloud to accelerate enterprise-wide adoption of Gemini Enterprise and agentic artificial intelligence (AI).
Global Markets:
European equities climbed alongside Asian stocks, with technology shares spearheading gains following Nvidia’s strong results and upbeat outlook.
Meanwhile, inflation in Tokyo, a leading indicator of nationwide price trends, remained close to the Bank of Japan's 2% target in August. Core consumer prices, which exclude volatile fresh food prices, rose 1.8% year-on-year, up slightly from 1.7% in July and broadly in line with expectations. A measure excluding both fresh food and fuel was around 2%, keeping attention on the Bank of Japan's monetary policy outlook.
All three major US indices closed higher on Thursday, led by a sharp rally in technology stocks following Nvidia's results and upbeat revenue outlook. The Dow Jones Industrial Average rose 0.20% to 53,569.00, while the S&P 500 gained 0.72% to 7,730.99 and the Nasdaq Composite advanced 1.57% to 26,541.00. Nvidia surged 8.7% after its strong results and forecast reinforced expectations of sustained demand for AI infrastructure. Salesforce jumped 22.6%, while CrowdStrike gained 20.5%, adding to the technology-led rally.
US initial jobless claims fell by 4,000 to 203,000 in the week ended August 22, compared with economists' expectations of 208,000, signalling continued resilience in the labour market. The data could reinforce the case for the Federal Reserve to remain cautious on rate cuts, particularly as inflation remains above its 2% target.
Separately, the US goods trade deficit widened sharply to $118.8 billion in July from the previous month, the widest gap since March 2025. Exports fell 2.9%, while imports rose 3.7%, with strong imports of capital goods linked to artificial intelligence investment contributing to the increase. The wider trade deficit could weigh on third-quarter economic growth.
Crude oil prices rose on Thursday after a media report said the Trump administration was not interested in returning to the terms of a June memorandum of understanding with Iran, raising doubts over efforts to ease supply disruptions around the Strait of Hormuz. Brent crude settled 2.1% higher at $89.70 a barrel. Oil prices, however, eased in early Asian trading on Friday.
Attention now shifts to Warsh, who is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. Investors will closely parse his comments for clues on the Fed's approach to inflation and interest rates, particularly as inflation remains above the central bank's 2% target and longer-term Treasury yields remain elevated.
Investors will closely monitor further developments in the West Asia conflict for cues on global risk sentiment and crude oil prices. The progress of the southwest monsoon and the ongoing Q1 FY27 earnings season will also remain key factors influencing market direction in the near term.
Metal, realty and pharma shares advanced while IT, PSU Bank and FMCG shares declined.
At 13:25 IST, the barometer index, the S&P BSE Sensex declined 283.08 points or 0.36% to 77,433.77. The Nifty 50 index fell 72.80 points or 0.30% to 24,165.70.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.16% and the BSE 250 SmallCap Index rose 0.13%.
The market breadth was positive. On the BSE, 1,984 shares rose and 2,082 shares fell. A total of 203 shares were unchanged.
In the commodities market, Brent crude for September 2026 settlement declined 88 cents or 0.64% to $88.65 a barrel.
Economy:
India's core sector output growth accelerated to a five-month high of 5% year-on-year in June, up from 3.2% in May, supported by a sharp surge in iron ore production and sustained expansion in cement and electricity.
Iron ore production recorded the strongest growth at 43.9% year-on-year in June, followed by cement and electricity, both of which grew 9.8%. Steel output increased 4.6%, while coal production rose 1.4%.However, weakness persisted in the energy segment, with crude oil, natural gas and refinery products contracting 4.2%, 7.4% and 4.7%, respectively. Fertiliser production also remained subdued, declining 3.3% for the fourth consecutive month.
During the April–June quarter, cumulative core sector growth improved to 3.6% from 1% a year earlier, although growth under the revised series for FY26 stood at 3%, lower than 4.3% recorded in FY25.
Shriram Finance (up 2.48%), Ultratech Cement (up 1.15%), HCl Technologies (up 1.14%), Indigo (up 1.13%) and Kotak Mahindra Bank (up 1.05%) were the major Nifty50 gainers.
HDFC Bank (down 1.48%), Infosys (down 1.47%), Tata Consultancy Services (TCS) (down 1.32%) and Power Grid Corporation of India (down 1.32%) and Reliance Industries (down 1.29%) were the major Nifty50 losers.
SML Mahindra surged 5.54% after the company reported a 17.38% rise in standalone net profit to Rs 63.62 crore for the first quarter ended 30 June 2026, compared with Rs 54.20 crore posted in Q4 FY26.
Karur Vysya Bank surged 12.54% after the private sector lender reported a 44.92% rise in standalone net profit to Rs 755.70 crore for the quarter ended 30 June 2026, compared with Rs 521.45 crore in Q1 FY26. Total income increased 15.76% to Rs 3,491.21 crore in Q1 FY27 from the year-ago period.
Canara HSBC Life Insurance surged 6.91% after the insurer reported strong Q1 FY27 results. The company's consolidated profit after tax increased 20.15% YoY to Rs 28.14 crore in Q1 FY27. PAT declined 18.97% QoQ from Rs 34.73 crore in Q4 FY26. Total income rose 20.03% YoY to Rs 4,382.86 crore in Q1 FY27. On a sequential basis, total income increased 237.96% from Rs 1,296.86 crore in Q4 FY26.
One 97 Communications (Paytm) fell 2.82% after the company's board decided not to proceed with a proposed bonus issue, despite reporting strong Q1 FY27 earnings. The board said it had evaluated the proposed bonus issue from the perspective of long-term shareholder value and, after due deliberation, decided not to proceed with it at this stage. The company said it will continue to focus on compounding growth and profitability to create long-term shareholder value.
The digital payments and financial services company reported a consolidated net profit of Rs 220 crore in Q1 FY27, up 78.86% YoY and 20.22% QoQ. Revenue from operations rose 27.63% YoY and 8.13% QoQ to Rs 2,448 crore in the quarter ended 30 June 2026.
BlueStone Jewellery and Lifestyle soared 13.07% after the company reported consolidated net profit of Rs 11.13 crore in Q1 FY27 compared with a net loss of Rs 32.78 crore in Q1 FY26. Revenue from operations rose 48.85% year-on-year to Rs 733.19 crore in Q1 FY27.
European market advanced as investors weighed a proposed 10-day U.S.-Iran ceasefire against fresh attacks on shipping in the Strait of Hormuz, while stronger-than-expected UK jobs data and lower June public borrowing offered a mixed picture of the domestic economy.
UK unemployment fell to 4.9% in the three months to May, down 0.1 percentage points on the quarter and below the 5% forecast, the ONS said Tuesday. Employment rose 148,000 on the quarter.
Asian stocks gained on Tuesday as mediation efforts in the Middle East pushed oil prices away from a one-month high.
Yemen's Iran-aligned Houthis said they would impose a naval blockade on Saudi Arabia, a move that could further disrupt energy supplies, amid attacks between the U.S. and Iran, even as efforts were being made to revive a fragile ceasefire.
A senior Iranian official was quoted by the media stating that Tehran had received a proposal from mediators for a 10-day ceasefire, intended to pave the way for a lasting agreement to end the war that began on February 28 with U.S.-Israeli attacks on Iran.
In other developments, investor focus this week will be on earnings from Alphabet and Intel, along with other firms, to gauge the impact of the war and whether the AI trade has more room to run given sky-high profit expectations for the second-quarter.
Strong earnings from Asian chip bellwethers Samsung Electronics and TSMC in recent weeks were not enough to satisfy investor expectations, underscoring the challenge facing the industry.
Overnight in the US, Wall Street's three major indexes finished lower on Monday while investors looked for moves toward Middle East de-escalation and waited for earnings reports due from major technology companies later in the week.
The Dow Jones Industrial Average fell 307.16 points, or 0.59%, to 51,839.26, the S&P 500 lost 14.41 points, or 0.19%, to 7,443.28 and the Nasdaq Composite lost 12.17 points, or 0.05%, to 25,508.07.
Shriram Finance Ltd is up for a third straight session today. The stock is quoting at Rs 1062, up 2.57% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.27% on the day, quoting at 24174.15. The Sensex is at 77431.91, down 0.36%. Shriram Finance Ltd has gained around 6.96% in last one month.
Meanwhile, Nifty Financial Services index of which Shriram Finance Ltd is a constituent, has gained around 0.12% in last one month and is currently quoting at 26574.65, down 0.07% on the day. The volume in the stock stood at 45.65 lakh shares today, compared to the daily average of 53.2 lakh shares in last one month.
The benchmark July futures contract for the stock is quoting at Rs 1058.2, up 2.19% on the day. Shriram Finance Ltd is up 65.9% in last one year as compared to a 3.54% slide in NIFTY and a 1.61% slide in the Nifty Financial Services index.
The PE of the stock is 24.35 based on TTM earnings ending March 26.
Shriram Finance Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 1046.55, up 1.35% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.02% on the day, quoting at 23951.05. The Sensex is at 76755.07, up 0.03%. Shriram Finance Ltd has added around 13.87% in last one month.
Meanwhile, Nifty Financial Services index of which Shriram Finance Ltd is a constituent, has added around 6.62% in last one month and is currently quoting at 26598.35, up 0.25% on the day. The volume in the stock stood at 18.7 lakh shares today, compared to the daily average of 61.85 lakh shares in last one month.
The benchmark June futures contract for the stock is quoting at Rs 1044.35, up 1.24% on the day. Shriram Finance Ltd is up 50.27% in last one year as compared to a 6.23% fall in NIFTY and a 1.7% fall in the Nifty Financial Services index.
The PE of the stock is 24.3 based on TTM earnings ending March 26.
Shriram Finance Ltd is up for a third straight session in a row. The stock is quoting at Rs 1042.2, up 2.28% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.71% on the day, quoting at 24193.4. The Sensex is at 77586.37, up 0.77%. Shriram Finance Ltd has added around 9.46% in last one month.
Meanwhile, Nifty Financial Services index of which Shriram Finance Ltd is a constituent, has added around 3.96% in last one month and is currently quoting at 26736, up 0.83% on the day. The volume in the stock stood at 56.12 lakh shares today, compared to the daily average of 58.38 lakh shares in last one month.
The benchmark June futures contract for the stock is quoting at Rs 1042.7, up 2.09% on the day. Shriram Finance Ltd is up 48.21% in last one year as compared to a 5.31% fall in NIFTY and a 1.06% fall in the Nifty Financial Services index.
The PE of the stock is 23.98 based on TTM earnings ending March 26.