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Trendlyne Marketwatch
10 Aug 2026
Market closes flat as uncertainty over US-Iran deal keeps investors cautious
By Trendlyne Analysis

 

Nifty 50 closed at 24,583.80 (13.2, 0.1%), BSE Sensex closed at 78,542.44 (43.3, 0.1%) while the broader Nifty 500 closed at 23,743.20 (31.1, 0.1%). Market breadth is balanced. Of the 2,830 stocks traded today, 1,345 were on the uptick, and 1,420 were down.

Indian indices closed flat as investors turned cautious amid uncertainty over a potential US-Iran deal. The Indian volatility index, Nifty VIX, rose 0.7% and closed at 12.2 points. BSE closed higher after Nuvama said it expects the stock to replace Wipro in the Nifty 50 during the September 2026 reshuffle, potentially attracting around $741 million in passive inflows.

Nifty Smallcap 100 closed lower, while Nifty Midcap 100 closed higher. Nifty Capital Markets and BSE Realty Index are among the top index gainers today. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 2%.

Asian markets closed mixed. European markets and US index futures traded with varied trends. Investors await the US CPI data for July, due Wednesday, for cues on inflation and the Fed’s next rate move. Meanwhile, Brent crude oil futures traded higher as hopes of a quick reopening of the Strait of Hormuz weakened after Iran set fresh conditions for a deal. Iran reportedly demanded a permanent halt to the war, an end to the naval blockade, removal of sanctions and unfreezing of its assets.

  • Relative Strength Index (RSI) indicates that stocks like Redington, Diamond Power Infrastructure and Nazara Technologies are in the overbought zone.

  • Bharat Forge touches its all-time high of Rs 2,295 as its board of directors approves a Rs 2,500 crore fundraise by issuing equity or other securities. The company's Q1FY27 revenue climbs 18.7% YoY to Rs 4,697.2 crore, helped by traction in the defence and forgings segments. However, the company reports a net loss of Rs 89.7 crore compared to a net profit of Rs 283.7 crore a year ago due to higher raw materials, employee benefits, finance and depreciation & amortisation costs.

  • Bajel Projects rises as it secures two orders worth up to Rs 700 crore from Power Grid Corp of India to set up transmission lines to connect Jamshedpur with Ranchi. The company's Q1FY27 net profit jumps 59.8% YoY to Rs 4.7 crore, helped by inventory destocking and lower raw materials expenses. However, revenue declines 7.2% to Rs 572 crore due to slower project execution.

  • CESC rises as its subsidiary, Purvah Green Power, signs an agreement to acquire a 1.4 gigawatt-peak (GWp) solar portfolio from ReNew Solar Power at an enterprise value (EV) of Rs 4,859 crore. Under the agreement Purvah will acquire a 100% stake in ReNew Hans Urja, ReNew Solar Photovoltaic, ReNew Wind Energy (Karnataka 3), ReNew Wind Energy (MP Four), ReNew Wind Energy (Karnataka 4), ReNew Agni Power.

  • Hindalco MD Satish Pai highlights strong Q1FY27 performance, supported by elevated aluminium prices. He expects prices to remain in the $3,200–3,400/tonne range this year, with aluminium EBITDA at around $2,000/tonne and downstream volumes improving. Novelis EBITDA/tonne is also expected to rise steadily as the Oswego ramp-up progresses.

  • Motilal Oswal retains its 'Buy' call on Emcure Pharmaceuticals, with a higher target price of Rs 2,300 per share. This indicates a potential upside of 16.7%. The brokerage believes that the company's niche portfolio and efficient channel network across the key domestic formulations, EU, Canada and the Rest of the World (RoW) markets. It expects the firm to deliver a revenue CAGR of 15% over FY27-28.

  • Blue Cloud Softech Solutions surges over 15% as it secures a $150 million (around Rs 1,260 crore) work order from SpaceX International for an eighteen-month AI compute and data centre platform project.

  • Waaree Renewable Energies rises as it secures an order to set up a 124 megawatt-peak (MWp) solar photovoltaic (PV) project under the engineering, procurement & construction (EPC) mode.

  • India's Finance Ministry sanctions Rs 920 crore in loans to airlines under the Emergency Credit Line Guarantee Scheme (ECLGS). Of eight applications worth Rs 2,529.7 crore, four airlines receive loan approvals, while guarantees worth Rs 912.4 crore are issued to three. ECLGS 5.0, launched in May 2026, aims to support airlines and MSMEs affected by the West Asia crisis and rising operating costs.

  • Kaynes Technology is falling sharply as its Q1FY27 net profit declines 24.4% YoY to Rs 56.4 crore due to higher raw materials, employee benefits, finance and depreciation & amortisation expenses. However, revenue jumps 37.1% to Rs 960.5 crore, led by industrial & automotive demand and scale-up of the smart-meter business. It appears in a screener of stocks with declining cash flow from operations.

  • SAIL reportedly considers raising funds through a 5% follow-on public offer in FY27. The company would issue fresh shares and receive the proceeds directly, unlike an offer for sale by the government. The funds may support its Rs 15,000 crore FY27 capital expenditure as it expands steelmaking capacity. However, the new shares would dilute existing shareholders.

  • One97 Communications (Paytm) surges to a three-year high of Rs 1,569 as Bernstein raises its target price to Rs 2,200 from Rs 1,500, implying a 52% upside, while retaining its ‘Outperform’ rating. The brokerage expects merchant payment fees to improve net payment margins by 3–4 bps and increase its FY30 EPS estimate by 30%. The revised target exceeds Paytm’s Rs 2,150 IPO price for the first time.

  • Jewellery stocks, including Titan and Sky Gold, rise on sustained demand. Motilal Oswal remains positive on industry growth, especially among leading players, and sees Titan well-positioned, supported by initiatives such as its exchange programme. Structural drivers including weddings, festivals, rising incomes, a young population and jewellery’s cultural and investment value remain intact.

  • Inox Wind plunges to its 52-week low of Rs 73.6 as its Q1FY27 net profit drops 34.2% YoY to Rs 64.1 crore, amid higher raw materials, facility, employee benefits and finance costs. However, revenue grows 1.1% to Rs 871.7 crore, helped by healthy project execution. It shows up in a screener of stocks with high promoter pledges.

  • BSE is rising as Nuvama expects it to replace Wipro in the Nifty 50 during the September 2026 reshuffle. The brokerage estimates that the inclusion could attract passive inflows of around $741 million, as index-tracking funds would need to buy BSE shares. The changes are expected to take effect on September 30.

  • Aditya Birla Fashion & Retail is falling sharply as its Q1FY27 net loss grows 1.5% YoY to Rs 215.2 crore due to higher inventory, employee benefits, finance and depreciation & amortisation costs. However, revenue grows 9.8% to Rs 2,081.6 crore, thanks to higher sales at Pantaloons and ethnic clothing. It appears in a screener of stocks with low Piotroski scores.

  • Quality Power Electrical Equipments’ Joint MD, Bharanidharan Pandyan, reiterates the 20% margin guidance and expects performance to improve from H2 onwards. Most data centre bids are currently under negotiation, with order wins expected in Q3 and Q4. He adds that the segment continues to deliver strong margins, supported by robust global demand for grid and power quality solutions.

  • HBL Engineering is falling sharply as its Q1FY27 net profit declines 23.9% YoY to Rs 109.1 crore due to higher raw materials and employee benefits expenses. However, revenue grows 6% to Rs 658.6 crore, boosted by demand for industrial batteries and electronics. It shows up in a screener of stocks with an increasing trend in non-core income.

  • Sky Gold & Diamonds climbs to its 5-year high of Rs 816 as it projects FY27 revenue over Rs 8,100 crore, supported by strong retailer partnerships, manufacturing agility and an expanding product portfolio. The company's Q1FY27 net profit surges 136.9% YoY to Rs 103.3 crore, helped by inventory destocking and higher contribution from advanced-gold business. Revenue soars 77.9% to Rs 2,020.8 crore, driven by demand for lightweight & value-added jewellery and rising traction among organised jewellery retailers.

  • Akums Drugs & Pharmaceuticals surges to its 52-week high of Rs 750.6 as its Q1FY27 net profit soars 57.5% YoY to Rs 100 crore, fueled by inventory destocking. Revenue grows 13.9% to Rs 1,197 crore, boosted by strong traction in the contract development & manufacturing organisation (CDMO) and domestic branded formulations segments. It features in a screener of stocks with high momentum scores.

  • Nuvama expects a significant September 2026 index rebalance, with stronger stocks replacing laggards. BSE could replace Wipro in the Nifty 50, aided by its higher free-float market cap. In the Nifty Next 50, likely inclusions are Wipro, Vedanta Aluminium, Hitachi Energy, Idea, Polycab and BHEL, while Indian Hotels, REC, United Spirits, Shree Cement, Lodha and Mazagon Dock could be excluded.

  • Universal Cables soars to its all-time high of Rs 1,674.8 as its board of directors approves tripling optical fibre capacity at its joint venture (JV) with a $500 million (~Rs 4,800 crore) capex. The board also raises its capex to Rs 617 crore from Rs 550 crore for the planned expansion of medium & high voltage power cable capacity. The company's Q1FY27 net profit surges 2.1x YoY to Rs 70.1 crore, helped by inventory destocking and a richer product mix. Revenue climbs 57.4% to Rs 948.2 crore, led by momentum in the Extra-High Voltage (EHV) cable and capacitors & allied power quality solution businesses.

  • Aarti Pharmalabs soars to its 20% upper circuit as its board of directors approves a Rs 149 crore capex to set up a 405 kilo-litre (kL) intermediate block. The board also appoints Rashesh C Gogri as the Managing Director (MD), effective October 1. The company's Q1FY27 net profit surges 53.8% YoY to Rs 76.1 crore, supported by favourable forex movement. Revenue jumps 38.3% to Rs 536.3 crore, driven by ramp-up of contract development & manufacturing organisation (CDMO) business, Xanthine capacity expansion, and a recovery in intermediates.

  • Hitachi Energy India surges as its Q1FY27 net profit jumps 123.5% YoY to Rs 294.2 crore, helped by a better product mix, improved operating efficiency and higher exports. Revenue rises 60.9% to Rs 2,493.7 crore, driven by strong execution of its order backlog across businesses. The company appears in a screener of stocks with a PEG ratio lower than the Industry average.

  • Titan's Q1FY27 net profit jumps 62.9% YoY to Rs 1,777 crore, supported by better margins and Rs 407 crore in customs-duty gains. Revenue rises 29.6% to Rs 21,356 crore, led by growth in the jewellery business on strong festive demand and higher average purchase values. The company appears in a screener of stocks with book value per share improving over the last two years.

  • Nifty 50 was trading at 24,527.80 (-42.9, -0.2%), BSE Sensex was trading at 78,342.53 (-156.6, -0.2%), while the broader Nifty 500 was trading at 23,691.30 (-20.8, -0.1%).

  • Market breadth is horizontal. Of the 2,549 stocks traded today, 1,302 were on the uptrend, and 1,184 went down.

Riding High:

Largecap and midcap gainers today include Hitachi Energy India Ltd. (36,050, 10.6%), One97 Communications Ltd. (1,584.10, 9.9%) and Info Edge (India) Ltd. (1,282, 4.6%).

Downers:

Largecap and midcap losers today include Power Finance Corporation Ltd. (385.15, -8.3%), Bharat Forge Ltd. (2,093.10, -7.6%) and REC Ltd. (343.75, -6.3%).

Volume Shockers

30 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Hitachi Energy India Ltd. (36,050, 10.6%), One97 Communications Ltd. (1,584.10, 9.9%) and Syrma SGS Technology Ltd. (1,518.90, 6.6%).

Top high volume losers on BSE were Power Finance Corporation Ltd. (385.15, -8.3%), Bharat Forge Ltd. (2,093.10, -7.6%) and REC Ltd. (343.75, -6.3%).

The Ramco Cements Ltd. (951, 1.8%) was trading at 14.0 times of weekly average. Poly Medicure Ltd. (1,773, 4.7%) and Inox Wind Ltd. (73.50, -5.8%) were trading with volumes 8.9 and 6.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

29 stocks overperformed with 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Aurobindo Pharma Ltd. (1,648, -0.6%), Bharat Forge Ltd. (2,093.10, -7.6%) and Exide Industries Ltd. (484, -1.2%).

Stocks making new 52 weeks lows included - Inox Wind Ltd. (73.50, -5.8%) and Afcons Infrastructure Ltd. (261.95, -4.5%).

16 stocks climbed above their 200 day SMA including Brigade Enterprises Ltd. (608, 4.5%) and Gujarat Mineral Development Corporation Ltd. (602.90, 3.5%). 15 stocks slipped below their 200 SMA including Power Finance Corporation Ltd. (385.15, -8.3%) and REC Ltd. (343.75, -6.3%).

 
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