Indian Stock Market Ends Third Weekly Fall as Nifty IT Rallies 3.5%, Nifty Slips 0.3% 

Mumbai, Aug 29: Indian equities ended the week with the Nifty 50 down 0.31% and the Sensex down 0.36%, marking a third consecutive weekly decline for both benchmarks. The Nifty 50 closed Friday at 24,175.65, while the Sensex ended at 77,264.51. The week’s trading was shaped by developments around US sanctions on Iran, crude-oil prices, US monetary-policy expectations, the first monthly derivatives expiry under the new closing-auction mechanism and sharp sector rotation into information technology stocks on Friday. 

The broader market performed better than the frontline benchmarks. The Nifty Midcap 150 gained about 0.42% for the week, while the Nifty Smallcap 250 gained about 0.51%. The Nifty IT index was the strongest major sectoral performer on Friday, rising 3.51%, while the Nifty FMCG index declined 0.46%. India VIX, meanwhile, remained at comparatively low absolute levels despite rising sharply during Thursday’s sell-off. 

Nifty 50 Loses 0.31% as Oil and Global Cues Weigh 

The Nifty 50 began the week at 24,285.05 on 24 August and ended at 24,175.65 on 28 August, a decline of about 76 points from the previous week’s close of 24,252. Its highest level during the week was 24,378.60, while the lowest was 24,077.25 based on the week’s trading data. The index moved through alternating gains and losses, with the strongest single-session advance coming on Tuesday and the steepest decline on Thursday. 

Monday set the tone as the index fell 32.95 points, or 0.14%, to 24,219.05. The Nifty opened at 24,285.05, reached 24,313 and fell to 24,144.30. The decline followed concerns about further US sanctions against Iran and the potential implications for crude-oil supplies, while rising bond yields and weak global markets also weighed on the session. 

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Tuesday reversed the decline, with the Nifty rising 115.50 points, or 0.48%, to 24,334.55. The index had fallen to 24,115.45 intraday before recovering. Lower crude prices after the US sanctions announcement helped the late-session recovery, while healthcare, PSU banks and IT stocks advanced. Infosys, Reliance Industries and ICICI Bank were among the stocks supporting the benchmark. 

Wednesday erased the previous day’s gain. The Nifty fell 126.80 points, or 0.52%, to 24,207.75. It reached 24,378.60 during the session before closing at its low. Infosys, Bharti Airtel, Larsen & Toubro, Power Grid, Tech Mahindra, NTPC, Mahindra & Mahindra and Reliance Industries were among the major drags, while Kotak Mahindra Bank, UltraTech Cement, Axis Bank and Tata Steel provided support. 

Thursday brought another decline, with the Nifty falling 116.90 points, or about 0.48%, to 24,090.85. The Sensex fell even more sharply, losing 539.35 points. The session coincided with monthly derivatives expiry and heightened movement during the closing-auction process. 

Friday brought a recovery of 84.80 points, or 0.35%, taking the Nifty back above 24,150. TCS led the Nifty gainers, rising 4.16% to ₹2,342, while ICICI Bank was the largest Nifty decliner, falling 1.40% to ₹1,422.80. 

Sensex Falls 0.36% After 539-Point Expiry Slide 

The Sensex opened Monday at 77,629.56 and closed the week at 77,264.51. Its weekly high was 77,986.84, while the weekly low was 76,933.59. The index therefore finished approximately 276 points below the previous Friday’s close of 77,540.83. 

The benchmark’s daily sequence highlighted the week’s volatility. It lost 171.72 points on Monday, gained 286.98 points on Tuesday, declined 183.15 points on Wednesday, fell 539.35 points on Thursday and recovered 330.92 points on Friday. 

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The Thursday fall was particularly significant because the Sensex closed at its session low of 76,933.59 after trading at substantially higher levels earlier in the day. The move occurred as derivatives expiry coincided with the closing-auction session and broad selling in heavyweight stocks. 

Friday’s rebound was driven primarily by technology stocks. TCS, Tech Mahindra, Infosys, Wipro and HCL Technologies were among the prominent gainers, while ICICI Bank, Asian Paints, Shriram Finance, ITC and UltraTech Cement were among the stocks that limited the broader recovery. 

Midcaps Gain 0.42% While Smallcaps Rise 0.51% 

The broader market remained comparatively firm despite the third weekly fall in the major benchmarks. The Nifty Midcap 150 gained approximately 0.42% over the week, ending Friday at around 23,507, while the Nifty Smallcap 250 gained approximately 0.51%. 

The Nifty Smallcap 250 had closed at 18,432.75 on Thursday after opening the week at 18,454.00 on Monday. It recorded a weekly high of 18,520.20 and a weekly low of 18,296.80 in the available daily data. Its one-week return was subsequently shown at approximately 0.51%. 

On Monday, the Nifty Smallcap 100 declined 0.26%, while the Nifty Midcap 100 gained 0.13%. By Friday, the mid- and small-cap segments had recovered sufficiently to remain positive for the week, contrasting with the benchmark indices’ weekly declines. 

The BSE 100 closed Friday at 25,899.63, with its one-week return at -0.36%. The BSE 500’s one-week return was approximately -0.05%, showing that the broader BSE market declined much less than the Sensex over the same period. 

Nifty Bank Ends Lower as Expiry Volatility Intensifies 

The Nifty Bank closed Friday at 57,496.30, down 13.65 points, or 0.02%, during the final session. On Monday it stood at approximately 57,526, after declining 0.41%. The banking index experienced substantial movement during the week as private-bank and public-sector-bank stocks moved in different directions. 

On Tuesday, healthcare and PSU-bank stocks helped the market recover, while private banks and metals remained weaker. By Wednesday, banking stocks provided some support even as IT stocks came under pressure. Thursday’s derivatives-expiry session again brought sharp movement across the banking segment. 

On Friday, ICICI Bank was the largest Nifty loser, declining 1.40%, while the banking index ended almost unchanged. The final-session performance therefore contrasted with the strong gain in information technology. 

Nifty IT Gains 3.51% as Nvidia Lifts Technology Stocks 

Information technology became the week’s most visible sectoral recovery story, particularly on Friday. The Nifty IT index rose 3.51% to 31,281.70, adding 1,060.55 points during the session. TCS rose 4.16%, while Tech Mahindra, HCL Technologies, Infosys and Wipro also advanced strongly. 

The move followed strong global technology cues after Nvidia’s results. The technology rally helped offset weakness across several other sectors and allowed both the Nifty and Sensex to recover after two consecutive sessions of losses. 

The sector had not been uniformly strong earlier in the week. On Wednesday, IT stocks were among the major drags on the Nifty, with Infosys and Tech Mahindra among the weaker constituents. The movement therefore represented a sharp reversal within the same trading week. 

Broader technology stocks also participated. KPIT Technologies, Coforge, Mphasis and Persistent Systems were among the BSE Midcap IT stocks that advanced during Friday’s session. 

Pharma and Healthcare Rise While FMCG Falls 0.46% 

Pharma and healthcare stocks were among the sectors providing support during parts of the week. The Nifty Pharma index was among Tuesday’s stronger sectoral indices, while healthcare stocks including Max Healthcare Institute and Apollo Hospitals featured among prominent gainers during the recovery session. 

On Friday, the Nifty Pharma index and Nifty Healthcare index remained among the sectors that gained, while the broader market’s sectoral performance remained mixed. Nifty Media also advanced, while FMCG and consumer durables declined. 

The Nifty FMCG index ended Friday at 46,815, down 215.45 points, or 0.46%. The index was among the weaker sectoral gauges during the final session, with stocks including ITC and other consumer names under pressure. 

The Nifty Realty index was comparatively stable during the week, while metal stocks were particularly strong on Monday. Nifty Metal gained 1.59% on Monday, led by stocks including JSW Steel, Hindalco Industries and Tata Steel. 

India VIX Rises 5% Thursday Before Friday’s Recovery 

India VIX remained relatively low in absolute terms but moved sharply during the week’s more volatile sessions. It stood at around 11.70 on Monday and rose nearly 5% to 11.0675 on Thursday, according to the available market data. 

The Thursday rise accompanied the sharp decline in the headline indices. The VIX had declined for two previous sessions before increasing on Thursday, reflecting the higher intraday movement around the derivatives expiry and continuing geopolitical uncertainty. 

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By Friday, India VIX had fallen again to approximately 10.92, while the Nifty recovered 0.35% and the Sensex gained 0.43%. The final session therefore combined lower volatility with a strong technology-led benchmark recovery. 

Iran Sanctions and Crude Prices Set the Week’s Direction 

Developments involving Iran and crude oil were recurring market-moving factors throughout the five sessions. On Monday, concerns over possible US sanctions and Iran’s statements regarding the Strait of Hormuz contributed to the decline in Indian benchmarks. 

On Tuesday, Brent crude fell below $90 a barrel, with the October contract around $89.66, after the US sanctions were viewed as posing less immediate supply disruption than military action in West Asia. The decline in oil prices coincided with the late recovery in Indian equities. 

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Crude remained a market variable during Wednesday and Thursday as developments in West Asia continued to influence expectations surrounding inflation and corporate costs. By Friday, oil prices were again lower and were heading towards a weekly decline, while geopolitical uncertainty remained unresolved. 

Closing Auction Session Adds Volatility on Expiry Day 

Thursday’s market action was also significant because it was the first monthly derivatives expiry after the introduction of the new closing-auction mechanism. The session saw pronounced movement towards the close, with the Sensex falling 539.35 points and the Nifty losing 116.90 points. 

The closing-auction process determines official closing prices for eligible securities and was therefore closely watched during the first monthly expiry under the new arrangement. The sharp late-session movement occurred alongside large derivatives-related activity and selling across heavyweight stocks. 

Meesho Sees ₹970 Crore Block Deal On Monday 

Corporate activity was significant throughout the week. On 24 August, Y Combinator-linked entities sold 4.85 crore Meesho shares worth approximately ₹970 crore through block deals at ₹200.01 a share. The price represented a discount of about 2.47% to Meesho’s NSE closing price of ₹205.07. Morgan Stanley, Goldman Sachs, Citigroup, Nippon India Mutual Fund and HDFC Standard Life were among the reported institutional buyers. 

The transaction involved three Y Combinator-linked entities and represented a sizeable secondary-market transaction during the first trading session of the week. The deal was a share transfer between existing holders and therefore did not constitute fresh capital raised by Meesho. 

TVS Supply Chain Gains 16% After Sankyu Partnership 

TVS Supply Chain Solutions announced on 24 August a strategic memorandum of understanding with Japan-based Sankyu Inc. The companies agreed to explore collaboration across supply-chain and engineering services, including logistics, warehousing, transportation, engineering, maintenance and industrial support. Sankyu intends to acquire a 0.5% equity stake in TVS Supply Chain Solutions, subject to customary regulatory approvals. 

The stock rose as much as 16% to ₹141 during Monday’s session following the announcement. The proposed collaboration initially focuses on India and is intended to address manufacturing and industrial customers, including Japanese companies operating in the country. 

Blue Cloud Starts $150 Million SpaceX Services Contract 

Blue Cloud Softech Solutions announced on 24 August that it had commenced delivery under its $150 million Master Services Agreement with SpaceX International Ltd, MY. The first Statement of Work began on 24 August and covers artificial intelligence infrastructure, cybersecurity, telecommunications and data-centre solutions. 

The first work package allocates $70 million to AI infrastructure, $25 million to cybersecurity, $25 million to telecommunications and $30 million to data-centre solutions. Blue Cloud Softech shares gained 4.75% on Monday following the announcement. 

Ceigall India Gets ₹704.70 Crore Highway Order 

Ceigall India received Letters of Acceptance from the Ministry of Road Transport & Highways on 25 August for construction of the Lada-Sarli section of NH-913, or the Frontier Highway, in Arunachal Pradesh. The contract is valued at ₹704.70 crore and will be executed through a joint venture with Sushee Infra & Mining. Ceigall India will hold 74% of the joint venture and Sushee Infra & Mining 26%. 

Ceigall India shares rose nearly 3% to ₹332.15 during early trading after the order announcement. The project will be executed under an Engineering, Procurement and Construction arrangement. 

Hero MotoCorp Raises Ather Stake To 32.8% 

Hero MotoCorp announced on 27 August that it would purchase additional shares of Ather Energy for up to ₹1,758 crore through a cash transaction. The shares are being purchased from an existing shareholder rather than issued as fresh equity by Ather. The transaction is expected to increase Hero MotoCorp’s fully diluted stake from 29.88% to approximately 32.8%. 

The transaction was expected to be completed by 3 September 2026. Hero MotoCorp is already Ather’s largest shareholder, while Ather operates in electric two-wheelers and related charging infrastructure. 

Tejas Networks Gets ₹1,537 Crore BSNL 4G Order 

Tejas Networks became one of Friday’s most active corporate stocks after receiving a ₹1,537 crore Letter of Intent from Tata Consultancy Services for equipment for Bharat Sanchar Nigam Limited’s 4G network. The order covers radio access network equipment, accessories and installation materials for 18,685 sites. 

Tejas Networks shares rose nearly 10% to ₹561.30 in morning trading. The value of the new order was slightly higher than the company’s ₹1,529 crore order book at the end of Q1 FY27. The company had reported Q1 revenue of ₹402.16 crore, up 99.10% YoY, while its consolidated net loss widened to ₹202.24 crore from ₹193.87 crore a year earlier. 

Wipro Expands Google Cloud Partnership On 28 August 

Wipro announced an expanded partnership with Google Cloud to accelerate enterprise adoption of Gemini Enterprise and agentic artificial intelligence. The company said it was scaling its internal deployment of Gemini Enterprise and would enable more than 10,000 AI-certified specialists, including 1,500 Forward Deployed Engineers, with advanced AI capabilities. 

Wipro shares rose nearly 2% during Friday’s trading session following the announcement. The development arrived as the Nifty IT index simultaneously recorded its strongest sectoral move of the day. 

Great Eastern Shipping Approves ₹900 Crore Buyback 

Great Eastern Shipping’s board approved a share buyback of up to ₹900 crore at a maximum price of ₹1,530 per share. The indicative maximum number of shares covered is 58,82,352, representing approximately 4.12% of the company’s paid-up equity share capital. The buyback will be conducted through the open-market route, subject to applicable regulations and subsequent procedural steps. 

The stock rose as much as 3.5% to ₹1,363 on Friday after the announcement. The maximum buyback price represented a premium of approximately 16% to the stock’s Thursday closing price of ₹1,319. 

Lenskart Sees ₹1,857 Crore Block Deal On Friday 

Lenskart Solutions shares recorded a block transaction involving approximately 2.95 crore shares worth ₹1,857 crore on 28 August. The shares changed hands at ₹630 each, around 1.65% below Lenskart’s previous closing price of ₹640.60. The transaction represented approximately 1.7% of the company’s equity. 

The transaction followed reports that Alpha Wave Ventures II was considering a stake sale. The identities of the buyers and sellers in the executed transaction were not immediately disclosed. Lenskart’s shares had closed at ₹640.60 on Thursday after declining 1.01% during that session. 

IPO Activity Includes Tempsens and Priority Jewels 

Primary-market activity remained prominent during the week. Priority Jewels opened its IPO on 28 August, with a price band of ₹190–₹200 and the issue scheduled to close on 1 September. The company had raised ₹27.45 crore from anchor investors before the public offering. By Friday, the issue had received bids for 61.76 lakh shares against 32.02 lakh shares offered, representing subscription of 1.93 times. 

Tempsens Instruments also made its stock-market debut on Friday. Its IPO had an issue price of ₹300, while the shares listed at ₹631.20, representing a 111.3% premium. The stock ended its first session at ₹591, remaining approximately 97% above the issue price. The IPO had raised ₹650 crore, comprising a fresh issue and an offer-for-sale component. 

Other IPO activity during the week included Skyways Air Services, Symbiotec Pharmalab, Hy-Tech Engineers and SME issues, while Annu Projects and Sumax Engineering remained open across part of the week. The distinction is important because several issues had opened before or continued after individual dates within the five-session window. 

Weekly Gainers Centre On IT, Orders And Corporate Deals 

The strongest benchmark-stock movement on Friday came from technology. TCS shares gained 4.16%, while Tech Mahindra, HCL Technologies, Infosys and Wipro also advanced. The broader IT recovery was accompanied by gains in KPIT Technologies, Coforge, Mphasis and Persistent Systems. 

Among individual corporate-news stocks, TVS Supply Chain Solutions rose as much as 16% after the Sankyu agreement, Blue Cloud Softech gained 4.75% after beginning its SpaceX-linked contract, Ceigall India gained nearly 3% after its highway order, Great Eastern Shipping rose as much as 3.5% after its buyback announcement and Tejas Networks rose nearly 10% after the TCS-BSNL order. 

Tempsens Instruments recorded the week’s most notable mainboard IPO debut, with its ₹300 issue price compared with a ₹631.20 opening price and ₹591 closing price on 28 August. 

Weekly Losers Include Reliance And Bharti Airtel 

The benchmark’s weekly decline was influenced by several heavyweight stocks. Reuters reported that Reliance Industries fell about 2.2%, HDFC Bank declined about 0.9%, and Bharti Airtel fell about 3.3% over the week. The weakness in these large constituents affected the headline indices despite Friday’s technology-led recovery. 

On Friday, ICICI Bank fell 1.40%, making it the biggest Nifty 50 loser, while Asian Paints, Shriram Finance, ITC and UltraTech Cement also declined. The Nifty FMCG index ended down 0.46%. 

Thursday’s decline also brought pressure on HDFC Bank, Hindalco Industries and Mahindra & Mahindra, contributing to the sharp benchmark fall during the derivatives-expiry session. 

Q1 Earnings Continue Only Through 26 August 

The week’s earnings calendar was concentrated on 24–26 August, rather than across all five trading sessions. Moneycontrol’s results calendar records two earnings announcements on 24 August, three on 25 August and four on 26 August, followed by zero earnings announcements on both 27 and 28 August in its calendar. 

On 24 August, Lykis reported June-quarter consolidated net sales of ₹126.68 crore, up 88.64% YoY, while net profit rose to ₹3.90 crore from ₹0.46 crore a year earlier. EBITDA increased to ₹6.70 crore from ₹0.69 crore and EPS rose to ₹2.01 from ₹0.24. Sequentially, however, sales declined from ₹145.40 crore in March 2026, while net profit increased from ₹1.95 crore. 

Kriti Industries reported June-quarter consolidated sales of ₹173.11 crore, down 22.74% YoY from ₹224.06 crore. The company reported a net loss of ₹2.21 crore, compared with net profit of ₹7.26 crore a year earlier and ₹4.01 crore in the March quarter. EBITDA declined to ₹5.68 crore from ₹15.80 crore a year earlier. 

Balrampur Chini Mills reported June-quarter consolidated sales of ₹1,636.79 crore, up 6.13% YoY, while net profit fell 14.4% to ₹44.15 crore. EBITDA declined 8.34% to ₹128.84 crore and EPS fell to ₹2.16 from ₹2.55. Sequentially, sales increased from ₹1,603.99 crore, but net profit declined from ₹73.36 crore in the March quarter. 

Orient Bell reported consolidated June-quarter net sales of ₹203.82 crore, up 42.63% YoY, while net profit increased to ₹8.32 crore from ₹0.37 crore. EBITDA rose to ₹17.62 crore from ₹5.58 crore and EPS increased to ₹5.66 from ₹0.26. Compared with March, sales declined from ₹214.64 crore, while net profit increased from ₹6.22 crore. 

On 25 August, Ardee Industries, MV Electrosystems and State Trading Corporation of India reported results. Ardee Industries’ NSE filing confirms that its board approved the unaudited standalone Q1 FY27 results on 25 August 2026. State Trading Corporation’s board also approved its FY26 audited results and Q1 FY27 standalone results on that date. 

On 26 August, Juniper Green Energy, Oneindig Technologies, Vikas Ecotech and Simbhaoli Sugars were listed in the results calendar. Juniper Green Energy reported Q1 revenue of ₹291.20 crore, up 81.20% YoY, and PAT of ₹33.45 crore, up 54.20% YoY, with EBITDA margin at 89.8%. 

Vikas Ecotech’s Q1 FY27 revenue was reported at approximately ₹119 crore, up 15.07% YoY and 2.56% QoQ, while net profit was approximately ₹1 crore, down 16.03% YoY and 552.27% QoQ. The company’s results date was 26 August 2026. 

The Nifty 50 and Sensex declined 0.31% and 0.36%, while midcaps and smallcaps gained about 0.42% and 0.51%. IT led Friday’s recovery, while Reliance Industries and Bharti Airtel declined during the week. Corporate developments included the ₹1,537 crore Tejas Networks order, ₹1,758 crore Hero-Ather transaction, ₹900 crore Great Eastern Shipping buyback, major block deals and the Tempsens Instruments IPO debut. 

Source 

• https://www.nseindia.com/index-tracker/NIFTY%2050 

• https://www.nseindia.com/index-tracker/NIFTY%20BANK 

• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-auto 

• https://www.niftyindices.com/indices/equity/broad-based-indices/NIFTY-Midcap-100 

• https://www.niftyindices.com/indices/equity/broad-based-indices/nifty-smallcap-500 

• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-oil-and-gas-index 

• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-it 

• https://www.bseindia.com/sensex/code/16/ 

• https://www.nseindia.com/