Bank Nifty displayed relative strength, with HDFC Bank, Kotak Mahindra Bank, and ICICI Bank identified as the top three contributors to Nifty’s gains at midday.
Markets were trading nearly flat at midday on Friday, with benchmark indices struggling to hold on to early gains as a sharp surge in crude oil prices and renewed rise in US Treasury yields dampened risk appetite. At 12.51 pm, the Sensex was at 77,549.90, up just 12.18 points or 0.02 per cent, while the Nifty 50 was at 24,232.55, up a marginal 0.70 points or 0.00 per cent, against a previous close of 24,231.85. The Nifty remained confined to a tight trading band through the session, with limited directional momentum.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that “risk appetite remains subdued amid the sharp surge in Brent crude oil prices, which has kept traders cautious and restricted any meaningful upside in the frontline indices.” WTI crude was trading near $86.50 per barrel, having broken out of its $84–$84.50 consolidation zone, with MCX Crude Oil holding near ₹8,300.
The US has also announced plans to impose what Treasury Secretary Scott Bessent described as the “toughest sanctions in history” on Iran, adding a further geopolitical risk premium to energy prices around the Strait of Hormuz. The rupee was trading near ₹95.70 to the dollar, holding at elevated levels.
Bank Nifty displayed relative strength, with HDFC Bank, Kotak Mahindra Bank, and ICICI Bank identified as the top three contributors to Nifty’s gains at midday. Shah noted that “Bank Nifty has displayed relative strength and continues to outperform the benchmark index.”
The Nifty Smallcap 100 was up around 0.83 per cent, reflecting broader participation beyond large caps. On the BSE, 2,206 stocks advanced against 1,886 declines, with 131 stocks at 52-week highs and 60 at 52-week lows. Nifty’s Advance-Decline Ratio stood at 18:32, indicating weak breadth among large caps despite the positive headline number.
Gainers and losers
Among Nifty 50 gainers, Power Grid Corporation led with a 2.25 per cent rise to ₹270.75 on heavy volumes of 1,17,81,664 shares worth ₹31,988.40 lakh, making it the standout performer of the session. HDFC Life Insurance gained 1.37 per cent to ₹549.45 on 18,51,550 shares worth ₹10,084.65 lakh. Kotak Mahindra Bank rose 1.35 per cent to ₹402.70 on volumes of 89,99,098 shares worth ₹36,261.87 lakh. HDFC Bank advanced 0.88 per cent to ₹731.45, with 2,01,13,226 shares changing hands worth ₹1,46,925.10 lakh, the highest traded value among gainers. BEL added 0.74 per cent to ₹412.45 on 83,76,626 shares worth ₹34,625.62 lakh.
On the losing side, Cipla was the top decliner, falling 1.77 per cent to ₹1,412.50 on 3,55,559 shares worth ₹5,050.96 lakh. IndiGo dropped 1.72 per cent to ₹5,076.00 on volumes of 6,31,552 shares worth ₹32,254.62 lakh. Maruti Suzuki declined 1.33 per cent to ₹13,626.00, while Trent shed 1.28 per cent to ₹2,932.00 on 2,60,728 shares worth ₹7,686.00 lakh. Tata Motors’ passenger vehicle arm TMPV fell 0.98 per cent to ₹317.10 on volumes of 54,03,203 shares worth ₹17,281.06 lakh. Sectorally, Nifty Metal and Nifty Oil and Gas were the best-performing indices, while Nifty FMCG was the worst performer.
In precious metals, COMEX Gold was up 0.41 per cent at $4,577, with MCX Gold trading at ₹1,60,630, up 0.22 per cent, near record levels with RSI in overbought territory at 73.02. COMEX Silver extended its rally to near $69, up 1.27 per cent, on course for a third straight weekly gain, while MCX Silver held near ₹2,45,000, up 0.64 per cent.
Shah placed immediate Nifty support at 24,160–24,140, with resistance at 24,260–24,280. A move above 24,280 could extend the rally to 24,440, while a break below 24,140 would expose the 24,020–24,000 zone. For the Sensex, support was seen at 77,200 and resistance at 77,800.
Published on August 21, 2026
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