Going ahead, market participants are likely to track movements in gold and crude oil prices, developments in the US-Iran situation and other global cues. The Nifty closed below the 24,100 level.

PSU Bank, media and metal shares declined while pharma, consumer durables and private bank stocks advanced.

As per provisional closing data, the S&P BSE Sensex declined 539.35 points or 0.70% to 76,933.59. The Nifty 50 index lost 116.90 points or 0.48% to 24,090.85. In the two consecutive trading sessions, the Sensex and Nifty declined 0.93% and 1%, respectively.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index declined 0.38% and the BSE 250 SmallCap Index shed 0.04%.

The market breadth was negative. On the BSE, 1,831 shares rose and 2,485 shares fell. A total of 210 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.06% to 11.10.

Initial Public Offer (IPO):

Lumino Industries received bids for 7,98,37,212 shares as against 6,32,05,127 shares on offer, according to stock exchange data at 15:36 IST on 27 August 2026. The issue was subscribed 1.26 times.

The issue opened for bidding on 27 August 2026 and will close on 31 August 2026. The price band of the IPO is fixed between Rs 78 and 82 per share. An investor can bid for a minimum of 182 equity shares and multiples thereof.

Annu Projects received bids for 1,22,23,299 shares as against 1,76,83,000 shares on offer, according to stock exchange data at 15:36 IST on 27 August 2026. The issue was subscribed 0.69 times.

The issue opened for bidding on 25 August 2026 and will close on 28 August 2026. The price band of the IPO is fixed between Rs 94 and 99 per share. An investor can bid for a minimum of 151 equity shares and multiples thereof.

Skyways Air Services received bids for 1,84,61,93,900 shares as against 2,95,83,600 shares on offer, according to stock exchange data at 15:36 IST on 27 August 2026. The issue was subscribed 62.41 times.

The issue opened for bidding on 24 August 2026 and will close on 27 August 2026. The price band of the IPO is fixed between Rs 131 and 138 per share. An investor can bid for a minimum of 100 equity shares and multiples thereof.

Symbiotec Pharmalab received bids for 81,42,97,860 shares as against 1,31,24,929 shares on offer, according to stock exchange data at 15:36 IST on 27 August 2026. The issue was subscribed 62.04 times.

The issue opened for bidding on 24 August 2026 and will close on 27 August 2026. The price band of the IPO is fixed between Rs 938 and 988 per share. An investor can bid for a minimum of 15 equity shares and multiples thereof.

Hy-Tech Engineers received bids for 4,06,35,58,229 shares as against 1,81,45,406 shares on offer, according to stock exchange data at 15:20 IST on 27 August 2026. The issue was subscribed 223.94 times.

The issue opened for bidding on 24 August 2026 and will close on 27 August 2026. The price band of the IPO is fixed between Rs 50 and 53 per share. An investor can bid for a minimum of 283 equity shares and multiples thereof.

Buzzing Index:

The Nifty PSU Bank index fell 0.94% to 8,587.80. The index rose 1.52% in the past two trading sessions.

UCO Bank (down 2.63%), Bank of Maharashtra (down 1.36%), Bank of India (down 1.27%), Union Bank of India (down 1.18%), Punjab National Bank (down 1.02%), Canara Bank (down 0.97%), Indian Bank (down 0.96%), Bank of Baroda (down 0.87%), State Bank of India (down 0.75%) and Punjab & Sind Bank (down 0.64%) tumbled.

Stocks in Spotlight:

Tata Power Company dropped 3.65%. The Singapore International Commercial Court dismissed the company's challenge to arbitral awards in its dispute with Kleros Capital Partners. The court held that there was no breach of natural justice or the fair hearing rule by the majority of the arbitral tribunal in arriving at the final award.

Kitex Garments (KGL) added 4.52%. India Ratings and Research has downgraded the company's long-term rating to 'IND BBB+' from 'IND A' with a 'negative' outlook. The agency has also downgraded the company's short-term rating to 'IND A2' from 'IND A1'.

Nahar Spinning Mills fell 1.61%. Crisil Ratings has reaffirmed its ratings on the bank facilities and commercial paper of the company at 'Crisil A/Stable/Crisil A1'.

Skipper advanced 1.94%. The company announced that it has secured fresh orders worth Rs 1,305 crore for several domestic and international transmission and distribution (T&D) projects.

Bajaj Finance shed 0.92%. The company said that it has raised Rs 5,000 crore through the private placement of 5 lakh secured, redeemable non-convertible debentures (NCDs), each with a face value of Rs 1 lakh. The NCDs carry an annual coupon of 8.15% and have a long-term maturity of 10 years, with the principal due for redemption on 27 August 2036 and interest payable annually from 27 August 2027.

Redtape added 0.82%. Shareholders at the company's annual general meeting approved the re-appointment of Shuja Mirza as managing director (MD) for a five-year term effective from 1 April 2027.

Global Markets:

Most European equities declined while most Asian stocks ended higher, with technology shares leading gains following Nvidia's results.

The Bank of Korea raised its benchmark interest rate by 25 basis points to 3.00% on Thursday. It was the second consecutive hike as the central bank sought to contain persistent inflation and address financial stability risks. The BOK also raised its 2026 growth forecast to 3.3% from 2.6%.

China's industrial profits growth in July slowed to its weakest pace this year, expanding 11.2% from a year earlier, according to National Bureau of Statistics data on Thursday. For the first seven months of this year, profits climbed 17.6% from a year earlier, losing momentum following the 18.7% rate in the first half-year.

Wall Street ended slightly lower on Wednesday. The Dow Jones Industrial Average declined 0.21%, the S&P 500 eased 0.02% and the Nasdaq Composite slipped 0.08%. Investors weighed higher-than-expected headline inflation against Nvidia's earnings, released after the market close.

US inflation remained elevated in July. The Personal Consumption Expenditures price index rose 3.7% year-on-year, unchanged from June and above the 3.6% market expectation. On a monthly basis, the index increased 0.2%. Core PCE inflation, which excludes food and energy, rose 3.3% year-on-year and 0.2% month-on-month.

Nvidia reported quarterly revenue of $96.22 billion, more than double the year-ago figure. Adjusted earnings stood at $2.22 per share, also ahead of market expectations. Data centre revenue reached $89 billion, more than doubling from a year earlier.

The company forecast third-quarter revenue of $108 billion, plus or minus 2%. The outlook was above the average Wall Street estimate of around $104.2 billion. Nvidia also projected around 70% revenue growth for the fiscal year ending January 2028, reinforcing expectations of sustained demand for AI infrastructure.

Nvidia shares jumped around 4.7% in extended trading following the results. The strong outlook is expected to provide a fresh boost to semiconductor and technology stocks across global markets.

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