The headline equity benchmarks ended with substantial gains on Thursday, supported by positive global cues, a stronger rupee and short covering following the recent seven-session losing streak. The expiry of weekly Sensex derivatives contracts on the BSE also kept traders active, with position adjustments contributing to market volatility. The Nifty settled above the 24,200 level. Media, realty and private bank shares advanced, while chemical and PSU bank shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex surged 628.04 points or 0.82% to 77,537.72. The Nifty 50 index gained 153.55 points or 0.64% to 24,231.85. Over the past four consecutive trading sessions, the Sensex declined 1.49%, while the Nifty fell 2.05% over the past seven consecutive trading sessions.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 0.53% and the BSE 250 SmallCap Index dropped 0.48%.

The market breadth was positive. On the BSE, 2,448 shares rose and 1,876 shares fell. A total of 237 shares were unchanged.

In the commodities market, Brent crude for Oct 2026 settlement jumped $2.14 or 2.34% to $93.76 a barrel.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.7175 compared with its close of 95.7350 during the previous trading session.

Economy:

India's infrastructure output grew 5% year-on-year in June 2026, accelerating from a revised 3.2% increase in May and marking the fastest growth since January. Growth was led by iron ore output, which rose 43.9%, while cement, steel and electricity production also increased. Refinery product output, however, declined 4.7% amid supply disruptions in Persian Gulf energy exports. The data are based on a revised series with 2022-23 as the base year, which expands the core infrastructure basket to nine industries from eight with the inclusion of iron ore.

India-Singapore Ministerial Roundtable to be held today:

The 4th India-Singapore Ministerial Roundtable will be held in Singapore on 20 August 2026, with Finance Minister Nirmala Sitharaman, External Affairs Minister S. Jaishankar, Commerce and Industry Minister Piyush Goyal and Minister of State Jitin Prasada representing India. The meeting will review ongoing initiatives and explore ways to deepen cooperation in advanced manufacturing, connectivity, digitalisation, healthcare, skills development and sustainability under the India-Singapore Comprehensive Strategic Partnership roadmap. A business roundtable involving key business leaders will also be held alongside the ministerial meeting.

IPO Update:

Tempsens Instruments (India) received bids for 7,54,43,550 shares as against 1,51,81,667 shares on offer, according to stock exchange data at 15:30 IST on 20 August 2026. The issue was subscribed 4.99 times.

The issue opened for bidding on 19 August 2026 and it will close on 21 August 2026. The price band of the IPO is fixed between Rs 285 and Rs 300 per share. An investor can bid for a minimum of 50 equity shares and multiples thereof.

Gaja Alternative Asset Management received bids for 5,20,08,018 shares as against 2,53,28,946 shares on offer, according to stock exchange data at 15:30 IST on 20 August 2026. The issue was subscribed 2.05 times.

The issue opened for bidding on 19 August 2026 and will close on 21 August 2026. The price band of the IPO is fixed between Rs 152 and Rs 160 per share. An investor can bid for a minimum of 93 equity shares and multiples thereof.

Sunshine Pictures received bids for 54,23,73,625 shares as against 54,86,051 shares on offer, according to stock exchange data at 15:30 IST on 20 August 2026. The issue was subscribed 98.86 times.

The issue opened for bidding on 18 August 2026 and will close on 20 August 2026. The price band of the IPO is fixed between Rs 342 and Rs 360 per share. An investor can bid for a minimum of 41 equity shares and multiples thereof.

Shankesh Jewellers received bids for 6,74,30,240 shares as against 2,76,37,400 shares on offer, according to stock exchange data at 15:30 IST on 20 August 2026. The issue was subscribed 2.44 times.

The issue opened for bidding on 18 August 2026 and will close on 20 August 2026. The price band of the IPO is fixed between Rs 88 and 93 per share. An investor can bid for a minimum of 160 equity shares and multiples thereof.

Buzzing Index:

The Nifty Media index jumped 2.13% to 1,621.40. The index shed 0.91% in the past trading session.

Network 18 Media & Investments (up 8.69%), Zee Entertainment Enterprises (up 5.21%), Saregama India (up 2.32%), PVR Inox (up 1.47%), Prime Focus (up 1.36%) and Hathway Cable & Datacom (up 1.05%) advanced.

On the other hand, Sun TV Network (down 0.58%), Tips Music (down 0.41%) and D B Corp (down 0.39%) edged lower.

Stocks in Spotlight :

Lupin shed 0.45%. The company said that its wholly owned subsidiary VISUfarma B.V. has entered into an exclusive licensing agreement with USA-based Visus Therapeutics Inc. for commercializing 'YUVEZZI' in the European Union, United Kingdom, Switzerland, Norway, and Iceland. YUVEZZI is a proprietary ophthalmic product indicated for the treatment of presbyopia in adults.

Lohia Corp fell 3.71%. The company has reported 292% rise in consolidated net profit to Rs 66.3 crore in Q1 FY27 from Rs 16.9 crore in Q1 FY26. Revenue from operations increased by 60% year-on-year (YoY) to Rs 503 crore during the period under review.

EMS advanced 2.24%. The company has received the lowest bidder (L-1) status awarded by Public Health Engineering Department, Government of Rajasthan for construction of Water Treatment Plant and other ancillary works in Udaipur District of Rajasthan. The estimated order value is approximately Rs. 222.45 crore.

Aditya Infotech hit an upper circuit of 5% after the company's board approved a proposal to raise up to Rs 1,500 crore through the issuance of equity shares via one or more permissible modes.

Aditya Birla Capital (ABCL) rallied 3.07% after the company announced its entry into the gold loan business, marking a strategic expansion of its secured lending portfolio.

Unicommerce eSolutions added 2.25% after Urban Company's Middle East arm partnered with the company to manage its e-commerce operations in the United Arab Emirates and Saudi Arabia.

Hyundai Motor India added 2.02% after the company announced a price hike of up to 1% across its vehicle portfolio, effective September 2026.

Glenmark Pharmaceuticals rallied 3.73% after the company announced that it has received approval from the U.S. Food and Drug Administration (USFDA) for Fluticasone Propionate Nasal Spray USP, 0.05 mg/spray.

United Spirits added 1.39% after the Food Safety and Standards Authority of India (FSSAI) revoked its 29 June 2026 order concerning the sale of a product manufactured at the company's Baramati unit.

Strides Pharma Sciences rallied 3.97% after the company received establishment inspection (EIR) from the US Food and Drug Administration (USFDA), indicating the successful closure of the inspection conducted at the Bengaluru facility.

Global Markets:

European markets declined on Thursday as a hawkish signal from the Federal Reserve and an ongoing maritime slowdown in the Persian Gulf snuffed out an attempted rebound.

Meanwhile, Asian markets ended higher on Thursday, tracking a rebound on Wall Street witnessed yesterday.

The recovery followed the US Treasury's announcement that it would double the size of its buyback operations for longer-dated government debt, helping ease pressure in the bond market after 30-year Treasury yields hit their highest level since 2007 earlier in the week.

Global crude prices, however, remained elevated near $92 a barrel as hopes for a near-term resolution to the US-Iran conflict faded. Stalled talks and uncertainty over crude flows through the Strait of Hormuz continued to fuel concerns that higher energy costs could keep inflation elevated.

On Wall Street, the S&P 500 ended a three-session losing streak on Wednesday, while the Dow Jones Industrial Average and Nasdaq Composite also gained around 0.2%.

The rebound was supported by the decline in longer-dated Treasury yields following the US Treasury's liquidity-support measures.

Investors also digested a hawkish set of minutes from the Federal Reserve's July meeting. The minutes showed that three policymakers had favoured a 25-basis-point rate hike, while several officials said further tightening could be required if inflation remains above the Fed's 2% target. The Fed kept its benchmark rate at 3.50%-3.75% at the 28-29 July meeting.

Investors will now watch US weekly jobless claims for fresh clues on the labour market and the outlook for monetary policy.

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