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August 19, 2026 at 12:58 PM IST
The Nifty 50 fell 76.60 points, or 0.32%, to 24,078.30, marking its seventh straight session of losses, its longest in 11 months. The Sensex declined 325.78 points, or 0.42%, to 76,909.68, extending its losses to the fourth consecutive session. The Nifty has now fallen about 2.1% over the seven-session losing streak, while the Sensex has declined around 2.1% over six of the past seven sessions.
Market weakness remained broad-based, with 14 of the 16 major sectors ending lower. The Nifty IT index was among the few sectors to outperform. In the broader market, the Nifty MidCap and SmallCap indices fell 0.21% and 0.51%, respectively, as investors remained cautious amid the deteriorating global risk environment.
Brent crude climbed to a three-week high around $92 per barrel after US President Donald Trump said no talks were underway with Iran, contradicting Tehran's assertion that the Strait of Hormuz remained closed to shipping. The developments reduced hopes of a near-term resolution to the conflict and kept concerns over energy supplies and imported inflation elevated. Rising long-term borrowing costs in the US, Germany and Japan also weighed on emerging-market assets as higher risk-free returns in developed markets reduced the relative appeal of equities such as India.
The Indian rupee weakened to 95.7525 per US dollar, compared with 95.68 in the previous session, reaching its weakest level since late July. Elevated crude prices and sustained corporate dollar demand pressured the currency, although likely Reserve Bank of India intervention limited the decline as the rupee approached the psychologically important 96-per-dollar level.
Indian government bond yields ended lower tracking the overnight fall in US Treasury yields. Market also remained supported due to buying by state-owned banks on account of the continued FCNR(B) inflows. The benchmark 6.94%, 2036 bond yield ended at 6.8170% compared with 6.8269% at previous close. However, rise in gilt prices was limited as some traders placed short bets ahead of key events such as the MPC and FOMC minutes, while foreign banks and portfolio investors were likely on the selling side as investors waited for fresh signals on the interest-rate and liquidity outlook.
Top Movers of the day
Zaggle Prepaid Ocean Services surged 11.58% to ₹185.09 rebounding sharply after a company linked to investor Vijay Kedia bought a 1.48% stake through a bulk deal at ₹164.72 a share.
RailTel Corporation gained 1.93% to ₹282.50, after receiving a one-year, ₹1.668 billion extension from EPFO for providing infrastructure-as-a-service.
H. G. Infra Engineering rose around 1.24% to ₹514.00, after receiving a letter of intent from REC Power Development and Consultancy for power transmission construction projects in Uttar Pradesh.
Milky Mist Dairy Food gained around 9.98% to ₹200, extending its strong post-listing momentum after making its market debut at a substantial premium to its IPO price.
HCL Technologies rose 1.85% to ₹1,322.00, following a strategic investment announcement to build a new global development centre and data facility in Odisha.
Kotak Mahindra Bank gained 1.11% to ₹391.95 , holding firm as selective buying emerged in private-bank stocks. The price was supported by foreign institutional investors buying today.
Sun Pharmaceutical Industries advanced 1.27% to around ₹1,898.80 supported by defensive buying in pharmaceutical stocks. The share prices had recently surged on strong financial results for April-June quarter with net profit rising 27% year-on-year.
Eternal rose 1.60% to ₹320.95, supported by strong trading volumes and on Bernstein’s announcement that the brokerage firm has added the stock to its India model portfolio with a target of ₹350.
ONGC fell 0.63% to around ₹238.00 on weak investor sentiment, uncertainty over crude oil prices, and weakening rupee.
Power Grid Corporation declined 1.98% to around ₹262.70, emerging among the Nifty laggards due to broader market correction, and weak top-line growth in its recent quarterly earnings report.
Coal India fell 1.72% to around ₹399.85, tracking weakness across PSU companies and a sharp 20% drop in net profit for April-June quarter, compressed operating margin and higher input costs.
Futures & Options
The Nifty August 2026 futures contract closed at 24,108.90, a premium of 30.60 points to the Nifty 50 cash index, which ended at 24,078.30. In the cash market, the Nifty 50 fell 76.60 points, or 0.32%, extending its losing streak to seven sessions.
The India VIX declined 0.50% to 11.33, indicating a marginal easing in near-term volatility expectations despite the continued weakness in equities. HDFC Bank, Reliance Industries and Infosys were the most actively traded individual stock futures contracts on the NSE. The August 2026 F&O contracts will expire on 25 August 2026.
Bonds
Indian government bond yields fell today as state-owned banks picked up gilts due to continued inflows into the RBI’s FCNR(B) window. A fall in US Treasury yields also aided gilts.The benchmark 6.94%, 2036 bond yield ended at 6.8170%, compared with 6.8269% on Tuesday, after trading in a subdued range through the session.
The rise in gilt prices was, however, subdued on caution ahead of the release of the US Federal Open Market Committee and Reserve Bank of India monetary policy committee minutes. Trade volumes also remained muted as traders refrained from placing aggressive and large bets ahead of the events.
Forex
The Indian rupee fell to its weakest level since late July on Wednesday as elevated crude oil prices and sustained dollar demand from companies weighed on the currency, although likely Reserve Bank of India intervention limited the losses. The rupee closed at 95.7525 per US dollar, compared with 95.68 in the previous session.
Persistent RBI intervention over the past 10 days has made traders cautious about building bearish positions as the rupee approaches the key 96-per-dollar level. Renewed strength in crude remained the main headwind, with Brent futures rising to nearly $92 per barrel and gaining more than 3% this week amid uncertainty over the Strait of Hormuz and the outlook for US-Iran talks.
Crypto
The crypto market entered a consolidation phase with Bitcoin trading around $64,334, holding above the $63,000 support zone, while Ethereum hovered near $1,917. The broader cryptocurrency sentiment was supported by a return to net inflows into US spot Bitcoin ETFs and optimism over the US SEC's proposed regulatory framework aimed at simplifying digital-asset fundraising.
However, gains remained capped as investors weighed the positive regulatory developments against broader macroeconomic risks, including elevated derivatives funding rates and uncertainty over the US Federal Reserve's monetary policy outlook.
US Stock Futures
US stock futures were near flat Wednesday after Wall Street's major averages fell for a third consecutive session, as a global bond sell-off and higher oil prices weighed on risk appetite. Dow Jones Industrial Average and S&P 500 futures were little changed, while Nasdaq 100 futures slipped 0.1%.
Stock futures edged lower early on Wednesday after the major averages declined for a third consecutive session amid heavy selling in semiconductor and other technology stocks. Rising global bond yields and firmer crude oil prices also weighed on sentiment, with the 30-year US Treasury yield reaching a 19-year high this week.
US Treasury Notes
US Treasury note eased slightly in pre-market trading on Wednesday, retreating from the multi-month highs reached in the previous session as investors awaited the Federal Reserve's July meeting minutes for clues on the monetary policy outlook.
The benchmark 10-year Treasury yield fell around 2 basis points to 4.69%, while the policy-sensitive 2-year yield eased to around 4.15%. The pullback followed a sharp sell-off in global bond markets driven by elevated oil prices, renewed inflation concerns and fiscal pressures, although yields remained high by recent standards.
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