Stock Market Update: Sensex Drops 200 Points, Nifty Falls Below 24,100 as Bond Yields Surge

Crude oil futures traded higher on Wednesday morning as there was no sign that the standoff between the US and Iran over reopening the Strait of Hormuz would end soon. The Strait of Hormuz is a vital link for global crude oil shipping. At 9.38 am on Wednesday, October Brent oil futures were at $91.65, up by 0.69 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $84.77, up by 0.84 per cent. August crude oil futures were trading at ₹8194 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹8143, up by 0.63 per cent, and September futures were trading at ₹8135 against the previous close of ₹8088, up by 0.58 per cent.

Bitcoin traded near $64,350 on Wednesday morning, up roughly 0.3% over 24 hours, after moving between approximately $64,005 and $64,926. Immediate support is around $64,000, followed by the more important $63,000 zone. Resistance lies at $64,900-$65,000, followed by $66,000. The short-term holder cost basis near $68,700 remains the larger recovery hurdle.

On-chain indicators continue to suggest caution. Bitcoin’s spot liquidity remains weak and on-chain activity subdued, even as capital flows show signs of stabilising. Spot volume has recently fallen to its lowest level since 2019, while $63,000 represents the Median Realised Price. This suggests selling pressure may be easing, but stronger demand is still required for a sustained breakout.

Institutional flows have improved. US spot Bitcoin ETFs attracted $865.3 million between August 3 and 7, before recording approximately $385.2 million in net outflows from August 10-14. Flows reversed sharply with $297.5 million of inflows on August 17 and another $45.7 million on August 18.

Large-cap altcoins were modestly positive. Ethereum traded near $1,911 (+0.5%), BNB around $603 (-0.1%), XRP near $0.998 (+0.2%), Solana at $76.70 (+1.3%), and TRON around $0.3325 (+0.5%).

Macro conditions remain decisive. A Reuters survey found that 94 of 104 economists expect the Fed to keep rates unchanged at 3.50%-3.75% in September. Markets are also pricing in close to a 70% probability of a hold. Fed minutes due today will be closely watched, followed by July PCE inflation ahead of the September 15-16 meeting. Elevated oil prices and Middle East tensions remain an inflation risk.

Our advice: Bitcoin remains range-bound. A sustained move above $65,000-$66,000, accompanied by stronger spot activity and continued ETF inflows, would provide a more convincing signal that the recovery is broadening.

Adani Enterprises Ltd., the flagship of Asia’s richest man Gautam Adani, is back to where it stood just before the conglomerate’s crisis began more than three years ago: the best-performing stock on India’s equity benchmark.

The shares have surged 34% so far in 2026, putting the company on track to end the year as the top gainer on the NSE Nifty 50 Index. It last held that spot at the end of 2022, weeks before Hindenburg Research’s short-seller report in January 2023 sparked a selloff that wiped more than $150 billion off the power-to-ports group’s market value at one point. Read more

US: Treasury yields remain elevated, with 30Y near multi-year highs; bond selloff is pressuring stocks amid inflation, oil and Iran-war concerns.

Japan: 10Y government bond yield approaches 3%, around a three-decade high, as inflation and fiscal concerns strengthen expectations of BOJ tightening.

India: Rupee faces pressure from expensive oil and high US yields; RBI intervention is cushioning the currency, while India considers limited duty-free sugar imports to contain prices.

China: Fuel exports are recovering as Beijing eases export curbs; humanoid robotics is attracting major investor interest, highlighted by Unitree’s strong Shanghai debut.

UK: Labour-market momentum is cooling and wage growth is easing; sterling weakened, while the Bank of England is expected to keep rates unchanged for the rest of 2026.

Germany: Investor sentiment improved more than expected in August, suggesting better confidence despite broader global bond-market stress.

Europe: STOXX 600 fell to a two-week low as rising bond yields, higher oil prices and Middle East uncertainty weigh on equities and public finances.

Saudi Arabia: Oil loadings and sales are resuming from inside/outside the Strait of Hormuz, but uncertainty around shipping through the chokepoint continues to support oil prices.

Guyana: Government says its entitlement from an oil block has risen to nearly 40% of production, strengthening its fiscal/oil position.

Brazil: Fiscal reforms face a difficult final stage amid high interest rates, rising public debt and elevated household leverage.

Canada: Home sales increased for the fourth consecutive month in July, pointing to improving housing activity.

Hungary: Government review of contracts with IT/telecom company 4iG created pressure on the company’s shares.

Source: Reuters

• August Fund Manager Survey is 3rd most bullish survey of investor sentiment since 2022
• Cash level down to uber-low 3.5% from 3.6%
• Global equity allocation surges to highest since Nov’21 (net 56% Overweight)
• Consensus conviction is no macro landing, no Fed hike, no AI capex cut, no DEM sweep, no bears
• Positioning continues to recommend investors retreat or rotate within risk assets rather than reload

• We’re not yet seeing earnings upgrades for the broader market
• Base effects turn less favorable and the macro backdrop remains volatile
• Even with a not-so-compelling overall set-up, the market remains quite interesting beneath the surface
• Stock specific opportunities continuing to offer the best route to outperform in what’s likely to be a modest-returns environment
• Reflecting this, we are refreshing our portfolio with a select set of catalyst-driven ideas
• Adding Eternal, as it continues to demonstrate competitive strengths in a sector where raising capital is becoming increasingly difficult
• Removing Avenue Supermarts following its outperformance and growing risks to urban growth from quick commerce
• Also adding Paytm on the back of potential MDR-related catalysts
• Introducing Adani Ports following the recent correction

DTCP ruling positive but HC hearing on 19 August is key 

Believe it is important that the project moves smoothly from the perspectives of both the company’s reputation and future growth in Gurgaon 

The stock trades at a 53% premium to NAV

Three reasons risk-reward stays attractive:

1) ONGC’s 1Y-fwd. dividend yield of 6.9% is at 3-year high – a level breached only twice in the last decade, both times during crises (Covid-19, windfall tax), not structural payout shifts;

2) global agencies have turned more constructive on crude: US EIA raised its CY26/27 Brent forecast by 6% to USD87/USD69 per bbl, while IEA’s CY26 deficit estimate has widened to 2.7mb/d

Believe crude prices could stay firm even if the Strait of Hormuz reopens, as global inventory levels remain low (-410mb since the war began);

3) OVL’s turnaround over the last two quarters, coupled with multiple assets moving into development, could add Rs 15/sh to TP if run-rate sustains (valued at 8x P/E)

Gold is likely to maintain its positive momentum on a weaker dollar and fading expectations of a near-term US rate hike, while crude oil is expected to remain cautiously bullish amid heightened geopolitical risks, with strong Gulf exports and weak demand likely to limit gains in Brent prices, pulling prices to USD 80/bbl, according to a Kotak Neo report.

Spot gold extended its two-week rally, rising 0.5 per cent intraday before paring gains to around USD 4,400 an ounce, following a nearly 1 per cent gain last week. Silver, on the other hand, outperformed, climbing 1.6 per cent to USD 65.73 an ounce.

“The key catalyst was softer U.S. retail sales and weaker consumer sentiment, which pressured the dollar and reduced expectations of a September Fed hike,” Kotak noted. (ANI)

Shares slipped Wednesday in Asia after Wall Street pulled further from its all-time high as artificial-intelligence stocks resumed their decline.

South Korea’s Kospi led the regional retreat, dropping 5.2 per cent to 6,515.97. The two biggest companies benefiting from the AI boom tracked losses for their US rivals. Samsung Electronics shed 6.9 per cent, while memory chipmaker SK Hynix tumbled 7.9 per cent.

In Tokyo, the Nikkei 225 sank 2.6 per cent to 65,703.78. The Hang Seng in Hong Kong lost 0.4 per cent to 25,382.66, while the Shanghai Composite index shed 1.5 per cent to 3,927.70. Taiwan’s Taiex fell 1.4 per cent, and Australia’s S&P/ASX 200 slipped 0.4 per cent to 9,083.70.

• Q1FY27 revenue broadly in line, while EBITDA and PAT missed estimates by 16.2% and 18.1%
• Textile volumes declined, while yarn and fabric realisations rose sharply
• Sugar segment outperformed with 14.9% volume growth and 120.8% ethanol growth
• FY27E EBITDA cut 4.6%; FY28E and FY29E estimates raised 4.7% and 9.1%
• ₹1,225 crore capex expected to generate ~₹2,000 crore incremental revenue
• 45 million-piece Odisha garment capacity expected operational by Q1FY28
• Revenue CAGR of 11.6% expected over FY26–29E
• 21.8% stock rally since last report prompts valuation-driven downgrade

Last year, TBO acquired Classic Vacations, giving it exposure to North America’s travel advisor market.

Luxury is emerging as a key growth engine for Travel, with leading North American consortia highlighting strong growth (double-digit) in premium travel & increasing importance of advisors.

CV provides TBO with an established gateway to region’s advisor-led distribution network, positioning it to capture growing, high-value luxury travel opportunity.

AR highlight four focus areas: global, electric, premiumization & margins, and technology.

It is delivering well on exports, EVs, and margin, but overseas investments in Norton and e-bikes have yet to deliver results.

Subsidiary investments rose at 29% CAGR over last 5Y; subsidiaries made losses on combined basis, although mostly limited to Norton and TVS EBike.

FCF improved in FY26 despite high investments

Maruti’s price hike falls short of expectations 

Despite 330 bps of Q1 gross margin compression, Maruti’s first FY27 price hike is modest 

Capped at Rs 30000 on new bookings and averaging 0.7% 

Limited pricing may curb Q2 margin recovery and leave FY27 EBIT margin expectations vulnerable

• Lead on Retail Deposit Growth To Aid Loan Growth; Stays Among Top Picks
• SBI has grown retail deposits by 14% YoY vs 12% for sector and second only to ICICI among large banks
• This reflects better branch productivity & mining of corp. clients
• It leveraged this & headroom in LDR to consolidate wholesale deposits & grow loans
• These will enable SBI to continue growing loans at 13-15% and sustain NIM and ROE

1. STK reacted following a news report that it is in advanced discussions to acquire UAE-based Tristar Group for $1.5bn.
2. Tristar is a global fully integrated energy logistics company operating across 30+ countries with marquee customers such as ADNOC, BP, ExxonMobil, Shell and Total.
3. While there is no official press release from company, Aegis management has been guiding to a 2030 growth roadmap encompassing both organic and inorganic routes.
4. Prima facie, a potential acquisition would make Aegis a key global energy logistics player and likely receive substantial volume/ cost synergies as Tristar owns and operates fuel storage facilities in Aegis’s key sourcing geographies (Middle East, Africa, Central America, North America, etc).
5. Tristar generated $257mn of EBITDA/$1.4bn revenue in CY25 (18% margin vs. Aegis FY26 17.4%) & while details are limited at this point, a potential transaction multiple of 5.8x EV/EBITDA looks attractive (vs. Aegis FY27/28E EV/EBITDA of 21.7x/19.6x on consensus
6. Don’t think financing deal should be viewed negatively by investors, & recent investor feedback has been positive as Government of India is planning a 30-day LPG storage buffer after the Middle East conflict.
7. Aegis delivered healthy operating cash flow of Rs20bn in FY26 and has a net cash balance sheet position (Net Cash/EBITDA of 1.7x in FY26)
8. Believe that this positions Aegis well for next leg of capacity creation (company target of 0.6x gearing ratio and 3.5x EBITDA).
9. Hence, think Aegis can comfortably fund a potential acquisition of this size likely through a mix of debt and internal accruals

Expect investor focus to shift from 1QFY27 margin softness to a visible recovery in hospital margins, supported by ramp-up at Manesar/Greater Noida, commissioning of new beds, and normalization of one-off cost drags

Expect co to sustain healthy revenue growth in Hospitals (19% in 1QFY27) & this, combined with margin recovery, should accelerate EBITDA growth from 16% in 1QFY27 to 20% over next couple of quarters

Management’s reiterated target of a 25% hospital EBITDA margin by FY28E (+200bps over FY26), despite ESOP costs, provides confidence in the underlying margin levers.

Valuations remain attractive versus peers on FY28E EV/EBITDA

Open 90 day +ve catalyst watch

• On 18 August, Biocon announced U.S. FDA approval of supplemental presentations for Yesintek (ustekinumab), adding 45 mg/0.5 mL and 90 mg/mL single-dose prefilled autoinjectors
• View approval as modestly positive, providing a short-term boost to a franchise that is already plateauing in a market increasingly dominated by PBM-driven private label brands.
• Given Yesintek’s broad formulary positioning and the fact that >90% of maintenance patients already self-administer at home, strongly believe that autoinjectors do not open a meaningful new channel; rather, it should improve convenience, adherence and patient retention, particularly in IBD indication
• However, competitive advantage is likely to prove short-lived.
• Wezlana and Pyzchiva already offer autoinjectors presentations, while Celltrion and Alvotech are expected to narrow the device gap over the next 8-12 months.
• More importantly, believe longer-term outlook for the ustekinumab class is degrowing faster than street’s estimates due to growing clinical and commercial momentum of selective IL-23 therapies such as Skyrizi and Tremfya, which continue to gain share across key indications.

• Initiate with ADD rating, Target: ₹1345
• A unique play, upside runway longer owing to rich valuations
• A healthy, well-diversified order book
• Technical capabilities and a proven record create a moat
• Vertical integration, acquisitions to add value, elevate scale
• Multiple growth engines — such as US and pharma exposure — reduce reliance on Indian agrichem cycles

1. Initiates Outperform; target price at ₹400
2. A diversified retail lender, has fixed its legacy issues & now targets peer-like growth from a largely retailised book (98%)
3. Top pick in NBFC space, trading at 35–50% discount to larger peers despite comparable AUM & earnings growth expectations.
4. Strong earnings growth and ROA improvement to drive re-rating
5. AUM growth forecast at 22% over FY26–FY29E
6. ROA expected to rise from 2.3% to 2.7% over the next three years
7. Lower credit costs expected from proprietary AI underwriting and collection platforms
8. Remain confident that L&T Finance can deliver a 28% EPS CAGR over FY26-29E
9. FY27E–FY29E earnings estimates 4–5% above consensus
10. Valued at 2.8x FY28E P/BV using a two-stage Gordon Growth approach

1. Agro-chemicals stocks trade at a wide discount to historical averages, turning valuations attractive
2. Sector now trades at c20x one-year forward PE multiple at 1.5SD below its ten-year mean multiple of 24x, reflecting a deep discount
3. Sector has only briefly traded at similar valuations four times in past 10 years
4. Domestic companies can unlock most value when macro headwinds go away; do not see any structural issues
5. Maintain Buy on Dhanuka Agri, UPL, Bayer Crop, SRF & RALLIS
6. Hold on PI & Tata Chemicals

• 1QFY27 was a mixed bag for Indian IT and global Sis
• See mid-tier IT vendors in a better position to take advantage of these tectonic changes, where Indian SIs have good quality management teams & execution
• Hence Reiterate HC O-PF on Coforge/PSYS & O-PF on HEXT/LTM
• Basic excel math does imply AI volumes could supersede deflation by FY30, taking US$ revenue growth from low- to mid single digits
• Given long gestation time & limited potential upsides, downgrade TCS, INFY and TechM to HLD
• Downgrade Wipro and Mphasis (due to structural concerns) to U-PF.
• Infosys – Downgrade to Hold from Outperform; Hike TP to Rs 1147 from Rs 1109
• TCS – Downgrade to Hold from Outperform; Hike TP to Rs 2326 from Rs 2165
• Tech Mahindra – Downgrade to Hold from Outperform; TP at Rs 1634
• Wipro – Downgrade to Underperform from Hold; Cut TP to Rs 152 from Rs 157
• Mphasis – Downgrade to Underperform from Hold; TP at Rs 2113

Indian government bonds are likely to consolidate on Wednesday, after a two-day selloff, as traders digest mounting oil risks and the impact ‌of the central bank’s swap window pullback while watching the August policy minutes for fresh rate ⁠cues.

The benchmark 6.94% 2036 bond yield is expected to trade between 6.80% and 6.85%, a private-bank trader said, after closing at ‌a two-week high of 6.8269% on Tuesday.

The 10-year U.S. Treasury yield eased marginally ‌to 4.69% in Asian trade, which may offer some ‌relief ⁠to sentiment.

Brent crude futures scaled higher to $92 ⁠per barrel on Wednesday, after U.S. President Donald Trump said no talks were taking place with Iran and insisted the Strait of Hormuz was open, while Iran ‌asserted that the critical waterway remained shut. (Reuters)

Agro-chemicals stocks trade at a wide discount to historical averages, turning valuations attractive

Sector now trades at c20x one-year forward PE multiple at 1.5SD below its ten-year mean multiple of 24x, reflecting a deep discount

Sector has only briefly traded at similar valuations four times in past 10 years

Domestic companies can unlock most value when macro headwinds go away; do not see any structural issues

Maintain Buy on Dhanuka Agri, UPL, Bayer Crop, SRF & RALLIS

Hold on PI & Tata Chemicals

August survey is the 3rd most bullish reading on investor sentiment since 2022.

Cash levels fall to an ultra-low 3.5% from 3.6%.

Global equity allocation surges to highest since Nov 2021, with net 56% overweight.

Consensus view: No macro hard landing, no Fed hike, no AI capex cuts.

BofA says positioning suggests investors should retreat or rotate within risk assets rather than add more risk.

Banks’ business growth is accelerating with loan/deposit gr. now at 19%/15% yoy respectively, and FCNR to further improve the momentum. We see upside risk to our loan gr. est. for banks, and expect quality of deposits to improve (wholesale funded banks to be bigger beneficiaries). We find the market’s isolated focus on NIM rather than EPS growth myopic — FCNR can drive 3-15bps NIM contraction, but add 1-9% to PAT accretive. It is pertinent to note that while NIM fell qoq across many banks in 1Q (driving the sell-off), ROA and RoRWA relatively trended better. Operating jaws are positive and asset quality is benign, but we build 10-20bps credit cost rise over FY27-28E. We believe PSU banks are past their peak profitability and expect 6% EPS Cagr over FY26-28E vs. 14% for Pvt banks. With FII selling pressure receding ($17bn outflows in Financials since 2020), we find valuations of large Pvt banks very attractive. Top picks are ICICI, Axis and RBL.

“Global macro conditions remain constructive for crypto as weaker US production, housing activity and UK employment reduce pressure for further monetary tightening. Improved German export momentum and investor confidence support broader risk appetite. However, Brent crude above $91 and multiyear highs in US, Japanese and German bond yields keep inflation and borrowing-cost concerns elevated, competing with crypto for institutional capital. Overall, easing growth pressures support future liquidity, while resilient Bitcoin demand suggests investors are maintaining exposure despite tighter financial conditions.

Bitcoin trades near $64,345 within a short-term consolidation structure. Immediate support sits around $63,900-$64,150, while $64,320-$64,500 forms the first resistance zone. Holding support could preserve buyer control, whereas a sustained move above resistance may strengthen momentum. A drop to $63,900 would shift attention to secondary support around $63,650-$63,850 over the coming sessions.

Ethereum trades near $1,909 with a constructive daily structure. Immediate support lies around $1,887-$1,900, while $1,914-$1,920 forms the first resistance band ahead of the psychological $2,000 level. Holding support could maintain momentum, while Futures traders may monitor volume, open interest, and funding rates before treating a resistance test as confirmed.

PUMP trades near $0.003079 with a bullish daily structure, supported by strong moving-average signals, although RSI near 72 indicates stretched momentum. Immediate support lies around $0.00295-$0.00300, while $0.00310-$0.00320 forms the first resistance zone. Holding support could preserve buyer control; losing it would shift attention toward secondary support around $0.00280-$0.00283 initially.

Global risk conditions remained broadly manageable despite weakness in equities. The Dow declined only 0.22%, indicating that selling remained concentrated rather than market-wide, while the VIX stayed relatively contained at $15.84 despite its daily increase. Gold fell 0.31%, suggesting investors were not making a broad shift toward traditional safe-haven assets. Crypto remained comparatively stable during the equity pullback, highlighting continued participation and suggesting that investors maintained digital-asset exposure despite selective pressure across global risk markets during the session.

Institutional demand improved as US spot Bitcoin ETFs attracted $297.6 million in the latest session, recovering much of the previous week’s $389.7 million outflow. Ethereum ETFs recorded a limited $2.26 million weekly outflow. Exchange selling, derivatives positioning, profit-taking, and wider macro conditions can offset ETF purchases, delaying their immediate effect on spot-market performance during the consolidation phase.”

Bitcoin briefly reclaimed $65,000 as broader risk sentiment improved after President Trump’s comments about the Strait of Hormuz’s operation. However, the macro backdrop remains challenging, with the 30-year US Treasury yield rising to 5.34%, its highest level since January 2007. CryptoQuant’s data suggests the move could be a “low-volume liquidity trap,” driven mainly by short covering rather than strong spot demand, with 637 BTC in short liquidations. On the positive side, US spot Bitcoin ETFs recorded $297.6 million in net inflows on Monday, their strongest since May 5. Bitcoin’s immediate resistance stands at $65,000, while support has moved up to $64,000.

Gaja Alternative Asset Management Limited (Raja Capital) is all set to launch its ₹550 crore IPO today that will conclude on Friday. The price band has been fixed at ₹152 to ₹160 a share and the investment lot is 93 shares.

The IPO comprises a fresh issue of equity shares aggregating up to ₹450 crore and an Offer for sale of equity shares aggregating up to ₹100 crore .

Gaja Capital IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Read more here

• SEBI Chairman at FICCI Event
• IPO Openings-Gaja Alternative Asset Management
• IPO Listing- Shiprocket, Behari Lal Engineering
• AGM-Avenue Supermarts, Lenskart Solutions, Max Financial Services
• Fund Raising-Wheel India, Aditya Infotech
• Block Deal-Aster DM Quality Care
• Insolvency Proceedings-SpiceJet
• US FOMC Minutes

Shares in Chinese humanoid robot ‌maker Unitree opened more than 600% higher ⁠in its Shanghai trading debut on Wednesday.

The stock opened ‌at 1,100 yuan on the tech-focused STAR ‌Market, 629% higher ‌than ⁠its IPO price ⁠of 150.8 yuan.

The trading debut follows Unitree’s roughly $900 million initial public offering last ‌week, and coincides with the opening of the World Robot Conference in ‌Beijing on Wednesday.

It is seen by some as a watershed ⁠moment for China’s robotics sector – a key battleground ‌in the Sino-U.S. tech war. (Reuters)

The Indian rupee is poised to open weaker on Wednesday, as a deteriorating risk backdrop and high oil prices reinforce the ‌currency’s underlying negative near-term bias.

The rupee is expected to open in the 95.75 to ⁠95.80 range, traders said, compared with 95.68 on Tuesday. Brent crude is nearing $92 a barrel, while high U.S. Treasury yields ‌are weighing on risk appetite.

Oil prices were up for the fourth straight day amid continued ‌uncertainty over the Strait of Hormuz. U.S. ‌President Donald ⁠Trump said on Tuesday that no ⁠talks were taking place with Iran and insisted the strait was open, contradicting Iran’s assertion that the critical waterway remained closed to shipping. (Reuters)

The U.S. dollar drifted near multi-month ‌lows against major peers on Wednesday as Treasury yields eased from recent highs, with investors awaiting minutes of the Federal ⁠Reserve’s latest policy meeting for clues on the path of interest rates.

The euro inched higher to $1.1577, remaining close to the two-month high touched earlier this week.

Sterling ‌was little changed at $1.3533, holding near a three-month high ahead of British inflation data due later on Wednesday, which is ‌widely expected to show persistent price pressure.

The Japanese yen was little ‌changed ⁠at 159.56 per dollar, having given back much of its ⁠intervention gains, but it is still well off a multi-decade low of about 164.

The dollar index, which measures the U.S. currency against six major peers, was down marginally at 99.65.

A selloff in U.S. ‌Treasuries appeared to have paused amid a week light on economic data or other obvious catalysts. The yield on the benchmark U.S. 10-year Treasury note extended declines and was last at 4.702%, while ‌that on the 30-year bond fell to 5.282%. (Reuters)

Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company and a Maharatna PSU, has established Satna as a district-level gas ecosystem where the energy requirements of PNG domestic and commercial customers, as well as automobiles using CNG, are being met through Compressed Biogas (CBG) generated from waste. The initiative marks a significant step in demonstrating how renewable gas can be integrated across multiple customer segments and utilised within a local energy ecosystem.

The initiative forms part of BPCL’s #TheGoodPrint Solution for the nation, a decentralised model focused on converting locally available waste into clean energy and enabling its use within the same ecosystem. In Satna, waste generated in and around the district is processed to produce biogas, which is upgraded into CBG and supplied through the existing gas distribution infrastructure to meet local energy requirements. This creates an integrated value chain connecting waste generation, CBG production, distribution and end-use within the same geography.

The Satna model demonstrates the potential of CBG to move beyond its conventional use as a transportation fuel and serve a wider range of energy needs. The locally produced renewable gas is being utilised by PNG domestic and commercial consumers as well as CNG-powered automobiles, demonstrating how CBG can be integrated into existing gas infrastructure and contribute to a more decentralised energy system.

Two-week national campaign brings together NSE as venue partner, NSDL as depository partner, other ecosystem partners and the wider financial community across eight metros

Mumbai, 18 August 2026: Grip Invest today launched the 1st edition of the Great Indian Bond Festival (GIBF), a festival dedicated to fixed-income investing, with NSE as Venue Partner and NSDL as Depository Partner, marking the beginning of a two-week national campaign running from 18 to 31 August. The campaign brings together regulators, bond issuers, market infrastructure institutions, ecosystem partners and investors to create greater awareness around bonds and other fixed-income products as an attractive retail investment avenue.

India’s corporate bond market is valued at over ₹59 lakh crore, while less than 1% of Indian households invest in bonds, highlighting significant headroom for wider participation from individual investors. GIBF aims to address this gap through a 360-degree campaign spanning print, digital, social media, podcasts, influencers and affiliates, supported by investor-focused offerings available during the campaign period.

The campaign is being supported by NSE as the venue partner and NSDL as the depository partner, with Tata Neu, ET Money, MobiKwik, Compound Express (DSP Group).

India’s DeepTech funding reached a record $2.96 billion across 189 deals in 2025, even as overall start-up funding declined. According to the IVCA Bharat DeepTech Report 2026, the sector’s share of global VC funding also rose sharply to 36 per cent in 2025 from 14 per cent in 2016. EV & Battery Technologies, and AI emerged as the biggest areas of investment ​ Read more​

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Indian bonds hold firm as global storm rages

Indian bonds remain resilient amid global turmoil, supported by stable inflation and strategic RBI measures to attract foreign investment.

Oil prices ticked higher in early trade on Wednesday, climbing for a fourth straight day on supply uncertainty as investors weighed conflicting messages from Tehran and ‌Washington on whether the Strait of Hormuz is open to ships.

Brent crude futures climbed 26 ⁠cents, or 0.29%, to $91.28 by 0004 GMT, while U.S. West Texas Intermediate crude futures were up 37 cents to $85.31 a ‌barrel.

Both contracts closed on Tuesday at their highest since July 24 as hopes of peace ‌between the U.S. and Iran faded.

U.S. President Donald ‌Trump ⁠said on Tuesday no talks were taking place ⁠with Iran and insisted the Strait of Hormuz was open, contradicting Iran’s assertion that the critical waterway remained shut to shipping. (Reuters)

The Securities and Exchange Board of India’s (SEBI’s) proposed overhaul of its settlement framework could give parties a wider route to resolve enforcement cases that have already reached the Securities Appellate Tribunal (SAT) or the Supreme Court, potentially resolving the long-pending backlog of cases at the appellate and helping the regulator secure earlier resolution of long-pending disputes.

The regulator has proposed to remove the existing 60-day limitation that closes the settlement route early in the enforcement process, keeping the doors to settlement open even after the proceedings are placed before SAT or the Supreme Court. Read more

National Stock Exchange of India Ltd., the operator of the world’s largest derivatives exchange by trading volume, is seeking a valuation of as much as ₹5.26 trillion ($55 billion) in its planned initial public offering, according to people familiar with the matter.

The exchange has marketed its shares at ₹2,000 to ₹2,100 apiece during meetings with potential investors, the people said, asking not to be identified because the information is private. NSE has concluded most of its global road show, with meetings in the Middle East still to be completed, they said. Read more

Gold prices edged higher in early Asian trade on Wednesday as U.S. Treasury yields eased from recent highs, while market participants awaited the release of the Federal ‌Reserve’s meeting minutes. 

Spot gold was up 0.2% at $4,342.33 per ounce, as of 0030 GMT ⁠after falling nearly 2% on Tuesday. Meanwhile, U.S. gold futures for December delivery edged 0.6% lower to $4,396.30.

South Korea led a selloff in Asian chip stocks early Wednesday, as rising bond yields exacerbated worry over the large sums of cash being shelled out by Big Tech.

The Korean benchmark Kospi tumbled as much as 6.8%, with Samsung Electronics Co. and SK Hynix Inc. each slumping more than 7%. A Bloomberg gauge of Asian semiconductor names declined more than 2%. In Japan, Kioxia Holdings Corp. dropped as much as 11%, while Tokyo Electron Ltd. and Advantest Corp. also sank.

The declines tracked losses in US semiconductor and other AI-related shares as concerns over inflation and rising government debt kept bond yields elevated. The threat of higher borrowing costs is adding to market worries amid ongoing uncertainty over the Iran war. (Bloomberg)

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Milky Mist Dairy Food shares debut at 17.8% premium, trades 30% over ₹140-IPO price

Shares of Milky Mist Dairy Food debuted on the NSE and BSE at ₹165, a 17.8 per cent premium over the IPO price of ₹140, reflecting positive momentum. At around 10.03 am, the stock zoomed to ₹181.50 on the NSE, marking nearly 30 per cent listing gains.

Japan’s Nikkei share gauge slumped sharply on Wednesday, tracking a sharp ‌sell-off in technology shares on Wall Street overnight.

The benchmark ⁠Nikkei 225 fell 2.97% to 65,459.71 in early trading. The broader Topix ‌slipped 2.72% to 4,027.56. Major U.S. share indexes closed lower ‌as dimming expectations for a ‌Middle ⁠East peace deal damped ⁠risk appetite. Oil prices rose while government bonds around the world fell, driving yields sharply higher. The ‌Philadelphia SE Semiconductor Index tracking U.S. tech shares, plunged 5%. (Reuters)

GMR Airports’ Q1 FY27 revenue rose ~24% YoY to ₹3,964 Cr with PAT turning positive to ₹148 Cr. Expansion accelerates with Bhogapuram and Nagpur acquisitions!

FIIs: ₹1,651.5 cr 

DIIs: ₹2,579.3 cr 

Net: ₹4,230.8 cr

The Malaysia Palm ⁠Oil Council said ‌on ‌Wednesday ‌that ⁠crude ⁠palm oil prices were expected ‌to stay firm above ‌4,600 ringgit ($1,133.56) per ⁠tonne in September ‌on tightening supply and ‌geopolitical disruptions. (Reuters)

Markets extended their losing streak to a sixth consecutive session on Tuesday, with crude oil prices crossing $91 a barrel and fading hopes of a West Asia resolution keeping investors firmly on the sidelines.

The ​Nifty 50​ settled at 24,154.90, down 132.75 points or 0.55 per cent, breaching the 24,200 support level that had held for most of the past week. The ​Sensex​ closed at 77,235.46, shedding around 0.6 per cent. It was the index’s worst six-session run in recent weeks, with the Nifty declining 1.7 per cent over the period.

The expiry of a temporary US-Iran ceasefire, with Iran hardening its stance and Washington ruling out an extension, pushed Brent crude above $91, a development that rattled markets already on edge over inflation and foreign outflows. ​Read more here​

1️⃣ 𝙎𝙝𝙞𝙥𝙧𝙤𝙘𝙠𝙚𝙩 𝙇𝙩𝙙

𝙉𝙎𝙀/𝘽𝙎𝙀

𝙎𝙮𝙢𝙗𝙤𝙡: 𝙎𝙃𝙄𝙋𝙍𝙊𝘾𝙆𝙀𝙏

𝘽𝙨𝙚 𝘾𝙤𝙙𝙚: 544871

𝙄𝙋𝙊 𝙋𝙧𝙞𝙘𝙚: ₹97

𝙍𝙚𝙩𝙖𝙞𝙡 𝙇𝙤𝙩: 154

𝙃𝙣𝙞 𝙇𝙤𝙩: 2156

𝙄𝙎𝙄𝙉: 𝙄𝙉𝙀0𝙁𝙊𝙊01011

𝘽𝙚𝙝𝙖𝙧𝙞 𝙇𝙖𝙡 𝙀𝙣𝙜𝙞𝙣𝙚𝙚𝙧𝙞𝙣𝙜 𝙇𝙩𝙙

𝙉𝙎𝙀/𝘽𝙎𝙀

𝙎𝙮𝙢𝙗𝙤𝙡: 𝘽𝙇𝙀𝙇

𝘽𝙨𝙚 𝘾𝙤𝙙𝙚: 544870

𝙄𝙋𝙊 𝙋𝙧𝙞𝙘𝙚: ₹285

𝙍𝙚𝙩𝙖𝙞𝙡 𝙇𝙤𝙩: 52

𝙃𝙣𝙞 𝙇𝙤𝙩: 728

𝙄𝙎𝙄𝙉: 𝙄𝙉𝙀1𝙀𝙀𝙈01017

CMP – Rs 365; Target Price – Rs 470; Rating – BUY; Mcap-Rs 55bn

Order Inflow Momentum Continues

Goldiam International has received fresh export orders worth ~Rs 500mn from key US clients for manufacturing and export of lab-grown diamond-studded gold jewellery, to be executed by Nov’26.

Our View: The order win further reinforces our positive view on Goldiam. The company’s core B2B export franchise continues to strengthen, supported by healthy sell-through at US retailers, deeper wallet share with existing customers and rising adoption of lab-grown diamond jewellery. 

Goldiam had an order book of ~Rs 2.25bn as of Jun’26, with the latest Rs 500mn order providing further incremental revenue visibility,

We believe significant headroom remains within existing US customers, while newer geographies such as the Middle East and Israel are also beginning to contribute. 

Alongside this, ORIGEM’s gradual domestic expansion and omnichannel strategy provide an additional growth level, positioning Goldiam well across both export and domestic LGD jewellery opportunities.