Nifty trades below 24,050 mark; metal shares lacklustre | Capital Market News - Business StandardMonday, August 31, 2026
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/ Capital Market News / Nifty trades below 24,050 mark; metal shares lacklustreNifty trades below 24,050 mark; metal
shares lacklustre Last Updated : Aug 31 2026 | 11:06 AM ISTThe key equity benchmarks traded with strong losses in the
morning trade amid renewed US-Iran tensions pushed crude oil prices higher and kept investors in a risk-off mood. Brent
crude rose above the $90-per-barrel mark, raising concerns over inflation and its potential impact on interest-rate
expectations. Market participants remained cautious ahead of the MSCI index rebalancing, which is expected to trigger
sizeable passive fund flows under the new Closing Auction Session (CAS) mechanism. The Nifty traded below 24,050 mark.
Investors will closely track movements in crude oil and gold prices, domestic and US bond yields, the rupee, and
developments surrounding the US-Iran conflict. The trajectory of monsoon rainfall and its implications for rural demand
and inflation will also remain on the radar. Metal stocks came under pressure after rising in the previous trading
session At 10:25 IST, the barometer index, the S&P BSE Sensex declined 469.98 points or 0.61% to 76,794.63. The
Nifty 50 index dropped 162.35 points or 0.66% to 24,022.30. In the broader market, the BSE 150 MidCap Index plunged
0.82% and the BSE 250 SmallCap Index tumbled 1.03%. Also Read HDFC Bank tests 100-MMA for first time ever; tech analysts
decode move?Stock Market LIVE: Sensex down 400 pts; Persistent Systems, NALCO top MidCap losersIndian Navy commissions
INS Nipun, deep-sea vessel for submarine rescueZEEL tanks 15% as Chandra's insolvency resolution plan faces fresh
hurdleApple's new CEO may bet big on Siri-powered smart glasses by 2027: Report The market breadth was negative. On
the BSE, 1,427 shares rose and 2,438 shares fell. A total of 337 shares were unchanged. In the commodities market, Brent
crude for the November 2026 settlement jumped $2.14 or 2.43% to $90.24 a barrel. Earnings Today: LEAP India (down 0.50%)
and Milky Mist Dairy Food (up 0.07%) will announce their quarterly earnings today. New Listings: Shares of Augmont
Enterprises were currently trading at Rs 947.85 at 10:12 IST on the BSE, representing a premium of 20.29% as compared
with the issue price of Rs 788. The stock debuted at Rs 956 on the BSE, a premium of 21.32% over its issue price. So
far, the stock has hit a high of Rs 1,019 and a low of Rs 942. On the BSE, over 8.25 lakh shares of the company were
traded in the counter so far. Buzzing Index: The Nifty Metal index declined 2.22% to 13,224.75. The index jumped 0.75%
in the past trading session. Hindustan Zinc (down 4.4%), Vedanta (down 3.61%), National Aluminium Company (down 3.32%),
Adani Enterprises (down 2.97%), Hindalco Industries (down 2.95%), Tata Steel (down 2.59%), Lloyds Metals & Energy
(down 2.31%), Jindal Steel (down 2.14%), APL Apollo Tubes (down 2.09%) and JSW Steel (down 1.94%) declined. Stocks in
Spotlight: Transformers and Rectifiers (India) advanced 2.78% after the company announced that it has received a
purchase order from Megha Engineering and Infrastructures (MEIL) for manufacturing transformers and related works.
Ashoka Buildcon gained 13.49% after the company announced that it has secured a Rs 602.16-crore order from Rail Vikas
Nigam (RVNL) for electro-mechanical works for tunnels under the RishikeshKarnprayag rail project in Uttarakhand.Powered
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the most important news and views of the day. Get them on our Telegram channelFirst Published: Aug 31 2026 | 10:52 AM
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