Daily Market Update - 31st August 2026 by Ventura Securities Ltd
Market Outlook: Indian markets are expected to open on a positive note, with Gift Nifty gaining 0.46% to 24,312. Nifty 50 closed at 24,175.65, while the previous session saw positive breadth with 1,917 advances against 1,560 declines on NSE and 2,308 advances versus 2,029 declines on BSE. The broader trend remains positive, with the newsletter maintaining a “Buy on Dips” view; 24,076 is the key near-term support, while 23,826–23,230 remains the broader buying zone. Resistance is placed at 24,615–24,950, followed by 25,215.
FII & DII Activity: FIIs/FPI remained net sellers on 28th August, with outflows of Rs 5,039.8 crore, while DIIs recorded strong net buying of Rs 5,183.9 crore. Domestic institutional buying therefore broadly offset foreign selling pressure during the session.
Sector Activity: Sectoral performance was led by IT, with Nifty IT gaining 3.5%, followed by Metals (+0.8%), Pharma (+0.5%), Healthcare (+0.5%) and Services (+0.5%). PSU Banks gained 0.2% and Oil & Gas 0.1%, while Auto, Consumer Durables, FMCG, Private Banks and Energy remained weak. Financial Services and Manufacturing were largely flat.
F&O Activity: Long build-up was seen in Sagility, Ather Energy, Alkem, Coal India and OFSS, while short build-up was witnessed in Havells, Bharat Dynamics, Nifty FPI, Indian Hotels and Bank of Maharashtra. Long unwinding was observed in Bosch, Kalyan Jewellers, CG Power, ICICI Prudential Life and Nippon India AMC, whereas short covering emerged in Polycab, Persistent Systems, Hero MotoCorp, LIC Housing Finance and Wipro.
Top 5 News:
HDFC Bank: MD & CEO Sashidhar Jagdishan will retire on 26th October 2026 and will not seek reappointment. The bank has initiated a fast-tracked process to appoint his successor.
Sterlite Technologies: Signed a USD 288 million long-term supply agreement with an international hyperscaler for high-density optical-fibre cables, covering CY27–CY29 with a potential two-year extension.
Max Estates: Will acquire an 84.71-acre West Delhi land platform for ~Rs 420.2 crore through a share swap, offering estimated GDV of Rs 10,000–12,000 crore and 4–6 mn sq. ft. development potential.
Tata Chemicals: Won soda-ash customer contracts covering over 500,000 tonnes through December 2028, expected to generate more than USD 110 million in revenue.
Ola Electric: Received Rs 95.81 crore FY27 PLI-Auto incentive approval, marking its third consecutive PLI sanction and supporting near-term cash flows.
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