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Indices erase gains; trade lower in late morning deals
Aug-24-2026

Domestic equity indices erased all gains and were trading in the red in late morning deals, tracking weak cues from other Asian markets. Sentiments were weak as Foreign Institutional Investors (FIIs) remained net sellers for the second straight session on August 21, 2026, offloading Indian equities worth Rs 542.71 crore. Traders remained on the sidelines as they awaited details of what Washington has billed as its toughest-ever sanctions campaign against Iran. Meanwhile, Iran has warned of retaliation against countries participating in the US 'economic war', reinforcing concerns that the confrontation could deepen rather than ease in the near term.   

Both the Sensex and Nifty were trading lower amid selling pressure in Reliance Industries, Bharti Airtel, ICICI Bank, State Bank of India and Hindustan Unilever. On the BSE sectoral front, traders were seen piling up positions in Metal, Telecom, IT, Basic Materials and TECK, while selling was witnessed in Consumer Durables, Bankex, PSU, FMCG and Utilities. On the global front, Asian markets were trading in the red, despite positive cues from the US on Friday, amid continued uncertainty over the opening of the Strait of Hormuz after US President Donald Trump said the U.S. naval blockade would remain in place until Iran is ready to make a deal.

The BSE Sensex is currently trading at 77389.69, down by 151.14 points or 0.19% after trading in a range of 77366.43 and 77789.40. There were 12 stocks advancing against 18 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 1.10%, Telecom up by 0.93%, IT up by 0.74%, Basic Materials up by 0.52% and TECK up by 0.40%, while Consumer Durables down by 0.61%, Bankex down by 0.54%, PSU down by 0.39%, FMCG down by 0.26% and Utilities down by 0.24% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 1.70%, Infosys up by 1.23%, HCL Technologies up by 1.09%, Sun Pharma up by 0.92% and Tech Mahindra up by 0.58%. On the flip side, Bharat Electronics down by 1.04%, Power Grid down by 0.90%, Adani Ports down by 0.78%, Axis Bank down by 0.75% and Bajaj Finserv down by 0.68% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has said that India is in negotiations with at least 8-9 more groups of countries and individual nations that together account for another $15 trillion of Gross Domestic Product (GDP). He also emphasized that country's free trade agreements would eventually cover about 75% of global trade and help position India as a trusted partner in global value chains.

Highlighting earlier trade agreements, he noted that India has a large domestic market and it opens its doors to the world with nine free trade agreements signed in the last four years. Further, these nine agreements cover economies with a combined GDP of $60 trillion and 38 developed countries. Besides, the earlier trade pacts with countries, including Japan and Korea, and the Asean region have opened another $10 trillion of GDP. 

Meanwhile, Goyal is leading a large business delegation of over 200 representatives in Japan to boost trade and investment ties between the India and Japan. He further underscored large opportunities for investments in India in areas like data centers, manufacturing and artificial intelligence. He added that the increasing economic ties should lead towards balanced trade between India and Japan.

The CNX Nifty is currently trading at 24202.05, down by 49.95 points or 0.21% after trading in a range of 24196.35 and 24313.00. There were 15 stocks advancing against 35 stocks declining on the index.

The top gainers on Nifty were Hindalco Industries up by 2.06%, Infosys up by 1.37%, JSW Steel up by 1.31%, HCL Technologies up by 1.21% and Tata Steel up by 1.12%. On the flip side, Bharat Electronics down by 1.26%, State Bank of India down by 1.21%, Adani Ports down by 1.15%, Shriram Finance down by 1.08% and Power Grid down by 1.08% were the top losers.

All Asian markets were trading lower; Nikkei 225 slipped 456.36 points or 0.69% to 65,560.00, Taiwan Weighted lost 461.97 points or 1.02% to 44,762.32, Jakarta Composite plunged 45.04 points or 0.69% to 6,480.65, Shanghai Composite weakened 47.22 points or 1.21% to 3,857.98, KOSPI dropped 221.91 points or 3.21% to 6,691.04, Hang Seng declined 540.46 points or 2.08% to 25,469.00 and Straits Times fell 11.29 points or 0.2% to 5,677.67. 
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