Among Nifty 50 gainers in early trade, Eternal led with a 0.75% rise to ₹330.40, on volumes of 25,42,546 shares worth ₹8,390.66 lakhs.
Markets opened on a cautious note Friday, with the Nifty 50 starting at 24,284.05 against a previous close of 24,231.85, and the Sensex opening at 77,701.07 after closing at 77,537.72 on Thursday. By 9.20 am, the Nifty had slipped to 24,230.65, down 1.20 points, while the Sensex traded at 77,532.70, lower by 5.02 points or 0.01 per cent.
The muted open follows Thursday’s rebound, when the Nifty gained 154 points and the Sensex rose 628 points, snapping a seven-session losing streak. However, analysts warn the recovery may be fragile. “Yesterday’s rally in the market is unlikely to sustain, given the latest headwinds from Brent crude approaching $94 and US bond yields again climbing up,” said Dr V K Vijayakumar, Chief Investment Strategist at Geojit Investments.
Gainers and losers
Among Nifty 50 gainers in early trade, Eternal led with a 0.75 per cent rise to ₹330.40, on volumes of 25,42,546 shares worth ₹8,390.66 lakhs. NTPC added 0.53 per cent to ₹339.30, while Shriram Finance gained 0.52 per cent to ₹1,134.10. Power Grid rose 0.49 per cent to ₹266.10, and TMPV edged up 0.45 per cent to ₹321.70.
On the losing side, TCS dropped 1 per cent to ₹2,275.10 on volumes of 81,680 shares worth ₹1,863.83 lakhs, making it the steepest decliner. Infosys fell 0.80 per cent to ₹1,121.00, and HDFC Life slipped 0.61 per cent to ₹538.70. Bajaj Auto shed 0.60 per cent to ₹11,722.00, and JSW Steel declined 0.55 per cent to ₹1,292.60. “The weakness in large-caps is likely to sustain constraining a sustained rally in the market,” Vijayakumar added.
Wall Street falls
The IT sector’s drag reflects broader pressure from rising US Treasury yields. Wall Street fell sharply overnight, with the S&P 500 dropping 0.87 per cent and the Nasdaq losing 1 per cent, as 10- and 30-year Treasury yields rebounded after a brief intervention-driven dip. US Treasury Secretary Scott Bessent indicated the government could increase buybacks of long-term debt to at least $4 billion per operation to stabilise markets.
Walmart’s results added to the gloom on Wall Street, with the stock dropping roughly 9 per cent despite beating revenue expectations, after reporting its weakest sales growth in over six years. Consumer discretionary and staples stocks underperformed as a result.
Crude spike
Crude oil prices rose to one-month highs after President Donald Trump threatened severe economic consequences for nations trading with Iran, pushing WTI into the $86–$87 per barrel range. “WTI crude has surged further… keeping oil as a key risk factor for Indian equities,” noted Ponmudi R, CEO of Enrich Money. Energy stocks gained on the back of higher oil prices, while the broader market remained wary of inflation implications.
On Thursday, sectoral performance was led by Media, which rallied 2 per cent, while Realty, FMCG, and Auto also posted gains. Defence and Metal stocks saw intraday profit booking. “NBFCs are on strong wicket backed by strong fundamentals and technicals… the digital platform space is exhibiting strength backed by delivery-based buying,” Vijayakumar noted, flagging pockets of resilience.
Foreign institutional investors remained net sellers on Thursday, offloading equities worth ₹583 crore, while domestic institutional investors bought equities worth ₹3,537 crore, providing a key cushion. The Indian rupee gained 5 paise to close at 95.7 on Thursday, snapping a three-day losing streak as dollar weakness supported Asian currencies.
Technicals
Technically, the 24,000–24,050 band is seen as critical support. “Sustained buying above 24,375 will be crucial to negate the prevailing short-term downtrend,” said Devarsh Vakil, Head of Prime Research at HDFC Securities. On the upside, resistance is pegged at 24,300–24,500, with analysts at Kotak Securities placing the 50-day SMA support at 24,150. India VIX eased to 10.75, while the Put-Call Ratio improved to 1.10, signalling a relatively steadier derivatives setup.
Geopolitical developments around Iran, crude trajectory, and US bond market movements are expected to remain the dominant swing factors through the session.
Published on August 21, 2026
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