IT, realty and metal shares advanced, while media, PSU Bank and FMCG shares corrected.

As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 329.06 points or 0.40% to 81,635.91. The Nifty 50 index rose 97.65 points or 0.39% to 24,967.75.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index added 0.10% and the S&P BSE Small-Cap index shed 0.02%.

The market breadth was negative. On the BSE, 1,944 shares rose and 2,246 shares fell. A total of 205 shares were unchanged.

Economy

Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating at 'BBB-' with a Stable Outlook. While upcoming U.S. tariffs pose a moderate downside risk, Fitch notes the situation remains uncertain. The Trump administration plans to impose a 50% tariff on Indian goods starting August 27.

Buzzing Index:

The Nifty IT index surged 2.40% to 36,291.80. The index fell 0.79% in the past trading session.

Infosys (up 3.04%), Tata Consultancy Services (up 2.78%), HCL Technologies (up 2.61%), Mphasis (up 2.40%), Wipro (up 1.99%), Oracle Financial Services Software (up 1.50%), Tech Mahindra (up 1.49%), Persistent Systems (up 1.40%), LTIMindtree (up 1.37%) and Coforge (up 0.90%) advanced.

Stocks in Spotlight:

Bajaj Auto rose 0.92%. The company said that the supplies of its electric scooter, Chetak, have resumed across all dealerships, after overcoming constraints caused by global rare earth magnet availability. The company has managed to restore production ahead of schedule and production and shipments recommenced as of August 20.

Mazagon Dock Shipbuilders advanced 2.01% after reports said the Ministry of Defence had authorised the company to start cost negotiations with Germany's Thyssenkrupp for the Rs 70,000-crore P-75(I) submarine project.

Markolines Pavement Technologies added 0.41%. The company has secured a significant contract worth approximately Rs 100 crore for the operation and production of patch repair work in the state of Andhra Pradesh. The contract has been awarded by a domestic entity, and the nature of work involves long-term maintenance and repair operations over a span of 5 years.

Signpost India added 1.58% after the company has secured the exclusive advertising rights for all the 67 key metro stations operated by Bangalore Metro Rail Project (BMRCL), with an expected revenue potential of Rs 600 to Rs 700 crore. The contract will remain in effect for nine years, until 2034.

Yes Bank rose 1.30% after the Reserve Bank of India approved Sumitomo Mitsui Banking Corporation's plan to acquire up to 24.99% stake and voting rights in the lender. The Japanese banking giant had earlier proposed a 20% acquisition, including a 13.19% stake purchase from State Bank of India and 6.81% from seven other shareholders such as Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Federal Bank, Bandhan Bank, and IDFC First Bank.

Coal India gained 1.46% after the company signed a non-binding memorandum of understanding (MoU) with the Government of Madhya Pradesh (through the Directorate of Geology and Mining) and the Madhya Pradesh State Mining Corporation.

Godrej Properties rose 1.46% after the company announced sales of over Rs 1,000 crore at its newly launched Godrej Regal Pavilion in Rajendra Nagar, Hyderabad. The project sold 683 homes spanning 1.2 million sq ft since its August 2025 launch. With a total development potential of 4.14 million sq ft and revenue potential of Rs 3,600 crore.

Interarch Building Solutions advanced 1.24% after the company secured an order worth approximately Rs 90 crore from Rungta Mines.

JNK India added 1.79% after the company announced that it has secured significant order from its promoter entity, JNK Global Co., Korea.

RailTel Corporation of India shed 0.42%. The company announced that it has received a work order from the Rajasthan Skill & Livelihoods Development Corporation (RSLDC) for project management consultancy (PMC) amounting to Rs 13.16 crore.

Global Markets:

Most European shares traded lower on Monday as investors awaited key inflation data from France, Germany, Italy and other major European economies due later this weak. Market participants are also eyeing key earnings announcement from Europe and beyond, with drinks maker Pernod Ricard and tech giant Nvidia among the companies scheduled to report.

Most Asian stocks ended higher after Federal Reserve Chair Jerome Powell signaled that the central bank could begin easing monetary policy next month.

These comments were made by the US Fed Chair at his widely anticipated annual speech in Jackson Hole, Wyoming.

In a tepid speech at the central bank's annual conclave in Jackson Hole, Wyo., Powell said that 'the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.'

The Fed chief added that the balance of risks appear to be shifting' between the central bank's dual mandate of full employment and stable prices. He cited 'sweeping changes' in tax, trade and immigration policies.

On Friday, the Dow Jones Industrial Average rallied to an all-time high Friday after Federal Reserve Chair Jerome Powell signaled the central bank could begin easing monetary policy next month.

The Dow climbed 846.24 points, or 1.89%, reaching a fresh high and closing at a record level of 45,631.74. The S&P 500 rose 1.52% to end at 6,466.91. At its session high, the broad market index came within three points of its record. The Nasdaq Composite gained 1.88% and settled at 21,496.53.

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