Tale of the Tape 

Hiya everyone. Markets hit a new all-time high!

Nifty and Sensex cooled off in the last hour of trading after hitting RECORD highs. Midcaps (-0.1%) and Smallcaps (-0.1%) traded mixed. The advance-decline ratio was in favour of the bears (3:2). Check out the Stocktwits Sentiment Meter:

Most sectors ended in the red. IT (+1.6%) and Pharma (1.1%) were the top gainers. PSU Banks (-0.5%) and Energy (-0.3%) saw some selling pressure.

To the moon! Markets reverse all loses and are on track to end August at all-time highs. Read our top story below to understand where we go from here.

ECOS (India) Mobility IPO kicked off today. Our analysis below will help you decide whether to subscribe.

LTIMindtree, NBCC (India) and GMM Pfaudler saw big movements today. Check out their charts below to find out why.

Orient Technologies made a strong market debut, ending the day +47% higher than its IPO price of Rs 206 p/sh.

Shoppers Stop rallied +5% intraday after inking a deal with Hollywood makeup brand Max Factor to sell its products in India.

Zydus Lifesciences (+2%) was in focus after Jefferies upgraded the stock; the brokerage sees a +27% upside from current levels, citing the recent dip as a buying opportunity.

Order wins. DCX Systems was locked in a +5% upper circuit after bagging a Rs 187 cr contract for electronic kits. JBM Auto rallied +5% intraday after winning a 200 electric luxury bus order.

Awfis Space Solutions gained +3% after signing a deal with the Nyati Group for 3 lakh sq ft workspace in Pune.

Here are the closing prints:

Market
Market Kya Lagta Hai?

Nifty hit a fresh all-time high today!! The index crossed the 25,114 mark, taking it just 19 sessions after breaching 25k on August 1. That’s a solid bounceback after an initial dip. Yes, this isn’t a huge milestone, but it’s important for a lot of investors who felt that the good times were over and Indian markets had entered a major correction phase.

In case you were wondering: the rally has largely been driven by IT stocks, with LTIMindtree and Wipro being the top Nifty gainers. It’s no surprise, considering most experts believe the sector has bottomed out and that interest rate cuts are on the horizon! FYI -  gains over the last week have also been helped by FIIs who have been net buyers for four sessions in a row.

Beyond this, it’s also clear now that the smallcap and midcap party is far from over. Some key pockets and retail favorites might have seen some correction, but the broader indices have continued their march. Fun Fact: both the BSE smallcap and midcap indices are set to outperform the Sensex for a fifth straight month. The BSE Smallcap Index has jumped +31% in FY25 and the Midcap Index up +25% vs the Sensex’s +11%.

The broader market surge is also surprising because there have been a bunch of negative triggers. The BJP failed to secure a majority in the Lok Sabha elections. The Budget was a no-show and arguably a bit of a dampener after the LTCG hike. But despite this, we’ve gone from strength to strength.

On a final note, none of this means we shouldn’t be cautious. Valuations are an issue, which is why most experts advise to load up on large-cap & ‘defensive’ stocks. There’s also still WAY too much exuberance. ICYMI - a small Delhi-based motorbike dealer with 8 employees launched a Rs 12 cr IPO and got a whopping Rs 4.8k cr bids. Remember to stay away from that madness!

Stocktwits Specials
Right Time To Enter HAL? 💣

HAL has cooled off sharply post Budget and is trading near its key support levels. Brokerages and SEBI RAs continue to remain bullish and see healthy upside from current levels. What should be your next step - if you’re already holding the stock or considering buying? Check out our latest video and find out.