Nifty Up 104 Points, Sensex Jumps 371; Reliance, Auto, and Refinery Stocks Lead Gains

Market Update at 4:15 PM: On Tuesday, August 19, Indian equity markets extended their gains for the second straight session, supported by optimism around possible cuts in the domestic Goods and Services Tax (GST). The Nifty 50 index closed higher by 103.70 points or 0.42 per cent at 24,980.65, just below the 25,000 mark, while the Sensex advanced 370.64 points or 0.46 per cent to end at 81,644.39.

The rally was led by Reliance Industries, which gained 2.78 per cent after Jio discontinued its 1 GB/day plan. The stock added nearly 57.81 points to the Nifty 50, making it the largest contributor. Nifty Auto rose 1.31 per cent, extending Monday’s 4.2 per cent gains, on expectations of higher demand from GST cuts.

Oil refiners Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL), and Indian Oil Corporation (IOC) also saw buying interest as global crude oil prices slipped on hopes of peace talks between Russia, Ukraine, and the US. In the textile sector, Vardhman Textiles, Raymond Lifestyle, and Welspun Living gained between 3.8 per cent and 10.3 per cent after the government removed cotton import duties between August 19 and September 30, giving short-term relief to the garment industry.

On the sectoral front, 9 out of 11 key indices ended in the green. The Nifty Media index was the top gainer, up 1.34 per cent, led by PVR Inox and Hathway Cable & Datacom. Meanwhile, Nifty Pharma slipped 0.34 per cent.

Among other stock-specific highlights, Vodafone Idea rose 1.8 per cent, while Vedanta advanced 2.74 per cent ahead of its board meeting to consider a second interim dividend on August 21.

In terms of index movers, Reliance Industries (+57.81 points), Tata Motors (+10.98 points), and Bharti Airtel (+10.60 points) pulled the Nifty higher. On the downside, HDFC Bank (-21.08 points), Larsen & Toubro (-5.75 points), and Mahindra & Mahindra (-5.37 points) were the top drags.

The broader markets also traded positively. The Nifty Mid-Cap 100 gained 0.97 per cent, while the Nifty Small-Cap 100 rose 0.70 per cent, continuing their upward momentum. Market breadth was in favour of the bulls, with 2,050 stocks advancing, 939 declining, and 89 unchanged on the NSE. A total of 77 stocks hit 52-week highs, 40 touched 52-week lows, while 118 stocks were locked in upper circuits and 54 in lower circuits.

Market Update at 12:15 PM: Benchmark Indian equity indices traded higher on Tuesday after a flat start. The BSE Sensex rose 266 points (0.33 per cent) to 81,540, while the NSE Nifty50 advanced 72 points (0.29 per cent) to 24,948 in early deals.

Gains were led by Large-Cap names Tata Motors, Reliance Industries, Adani Ports, Bharti Airtel, and Kotak Mahindra Bank among the Sensex constituents. In the broader market, the Nifty MidCap index was up 0.49 per cent and the Nifty SmallCap index gained 0.57 per cent, indicating buying interest beyond frontline stocks.

Sectorally, barring FMCG, pharma, and financial services, all other NSE indices traded in positive territory. 

Market Update at 10:30 AM: India’s equity benchmarks opened higher on Tuesday, supported by gains in Reliance Industries and sustained optimism around proposed cuts in the goods and services tax (GST).

The Nifty 50 rose 0.18 per cent to 24,922.64 points, while the BSE Sensex advanced 0.23 per cent to 81,472 at 9:22 a.m. IST. This followed Monday’s nearly 1 per cent rise in both indices, after the government announced sweeping changes in the GST framework, raising expectations of stronger consumption demand across sectors.

Market participants expect trading to remain in a narrow range ahead of U.S. Federal Reserve Chair Jerome Powell’s speech later this week. Investors are closely tracking potential signals regarding a possible September interest rate cut in the U.S.

Out of the 16 major sectoral indices, nine advanced in early trade, though the gains were limited. Broader indices also edged higher, with small-cap and mid-cap stocks up by about 0.2 per cent each.

Reliance Industries, the third-heaviest stock on the Nifty 50, jumped 2 per cent after brokerages highlighted multiple growth drivers in its oil-to-telecom and retail businesses. The company also announced its expansion into the healthy beverages space through Reliance Consumer Products, acquiring a stake in a joint venture with Natureedge Beverages. This move adds to Reliance’s diversified portfolio, which has previously delivered multibagger returns for long-term investors in certain business segments.

With focus on GST changes, corporate expansions, and potential global rate cuts, markets are likely to remain sensitive to both domestic and international developments in the coming sessions.

Pre-Market Update at 7:30 AM: Indian benchmark indices, Sensex and Nifty 50, are expected to start Tuesday, August 19, on a flat note. This comes amid cautious global market sentiment as investors await the outcome of discussions between US President Donald Trump and European leaders on resolving the Russia-Ukraine conflict. As of 7:17 AM, the GIFT Nifty was trading near 24,988, up 25 points from its previous close.

On Monday, domestic equities rallied strongly, supported by both local and global cues. Prime Minister Narendra Modi’s announcement of GST-related reforms, an upgrade in India’s credit rating by S&P Global, and optimism regarding peace progress in the Russia-Ukraine conflict lifted investor sentiment. The government’s proposal to simplify the GST structure to two slabs of 5 per cent and 18 per cent, replacing the earlier 12 per cent and 28 per cent rates, was welcomed by the markets as it is expected to boost consumption. The Nifty 50 gained 1 per cent to close at 24,876.95, marking its biggest single-day gain since June 26, 2025, while the Sensex advanced 0.84 per cent to settle at 81,273.75.

Foreign Institutional Investors (FIIs) turned net buyers on Monday, August 18, breaking a four-day selling streak by purchasing equities worth Rs 550.85 crore. Domestic Institutional Investors (DIIs) continued their buying momentum, acquiring shares worth Rs 4,103.81 crore and extending their buying streak to 30 consecutive sessions.

According to the Periodic Labour Force Survey (PLFS), India’s unemployment rate for individuals aged 15 and above declined to 5.2 per cent in July, from 5.6 per cent in June. The improvement was led by rural areas, where unemployment fell to 4.4 per cent compared with 4.9 per cent a month earlier. However, urban unemployment edged up slightly to 7.2 per cent from 7.1 per cent.

Asian markets traded mixed, while Wall Street ended Monday’s session largely unchanged. The Dow Jones Industrial Average fell 34.30 points, or 0.08 per cent, to 44,911.82. The S&P 500 closed marginally lower by 0.01 per cent at 6,449.15, while the Nasdaq Composite gained 0.03 per cent to end at 21,629.77. US President Donald Trump met Ukrainian President Volodymyr Zelenskyy and European leaders at the White House, with talks focused on possible steps toward ending the Russia-Ukraine conflict. Trump confirmed preparations for direct talks between Russian President Vladimir Putin and Zelenskyy, while assuring US support for Ukraine’s security as part of any peace deal.

The US dollar index (DXY) climbed 0.31 per cent to 98.122, reflecting investor caution ahead of further geopolitical developments. Gold remained steady at USD 3,331.89 per ounce as traders awaited cues from the Federal Reserve’s Jackson Hole symposium on rate cuts. Crude oil prices fell slightly as traders factored in potential progress in Russia-Ukraine talks. WTI crude futures slipped to USD 63.2 per barrel, while Brent crude eased 0.02 per cent to USD 65.95 per barrel.

For today, PG Electroplast, Titagarh Rail System and RBL Bank remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.