KEY TAKEAWAYS
- Nifty 50 rose 153.55 points (0.64%) to 24,231.85 on August 20, snapping a seven-session losing streak and reclaiming its 50-day EMA; Sensex jumped 628.04 points (0.82%) to 77,537.72.
- GIFT Nifty traded near 24,311, pointing to a mildly positive opening, though DII buying of ₹3,537.71 crore is offsetting FII selling of ₹583.36 crore rather than reflecting fresh risk appetite.
- HDFC Bank raised $1.75 billion via GIFT City bonds — its second offshore issuance in two months, timed to the RBI’s early closure of the FCNR(B) swap window on August 31.
- Manipal Health’s first results since listing show a real split: reported PAT fell 7.7% YoY, but adjusted PAT (excluding NCD interest) rose 30.9% YoY on 38.1% revenue growth.
- Kotak Institutional Equities named HAL its top defence pick (target ₹5,305) following the government’s 6th Positive Indigenization List.
The Nifty’s seven-session losing streak, its longest in nearly a year, ended Thursday, but Friday’s action, August 21, 2026, is being driven by company-specific news: HDFC Bank’s second dollar-bond raise in two months, a fresh MPLS order for RailTel, and a Q1 print from Manipal Health that reads very differently depending on which profit line you look at.
Nifty Ends 7-Day Losing Streak
The Nifty 50 gained 153.55 points, or 0.64 per cent, to close at 24,231.85 on Thursday, its first meaningfully higher close in seven sessions and a reclaim of its 50-day EMA.
The Sensex added 628.04 points, or 0.82 per cent, to 77,537.72. GIFT Nifty was trading near 24,311 in early Friday deals, pointing to a mildly positive start.
Rupak De, Senior Technical Analyst at LKP Securities, said the hourly RSI generated a bullish crossover alongside the EMA reclaim, with resistance at 24,350-24,500 and support near 24,150.
Gains on Thursday were led by HDFC Bank, ICICI Bank, Bharti Airtel, Reliance Industries, Eternal, Axis Bank, L&T, Kotak Mahindra Bank, Infosys, Bajaj Finance and ITC; the Nifty Smallcap 100 and Midcap 100 added 0.68 per cent and 0.41 per cent, lifting BSE market cap by around ₹2.77 lakh crore to ₹491.48 lakh crore.
Ajit Mishra of Religare Broking tied the move to stabilisation in global bond markets after the US Treasury said it would expand buybacks of long-duration debt, easing pressure after the 30-year Treasury yield hit its highest level since 2007.
He flagged Brent crude near $94 a barrel and Strait of Hormuz risk as continuing overhangs. Ankur Punj of Equirus Wealth added that short covering drove much of Thursday’s move, with the broader undertone still cautious.
DIIs Buy Big As FIIs Stay Cautious
DIIs net bought ₹3,537.71 crore on August 20, cushioning FII net selling of ₹583.36 crore, per NSE provisional data.
Track live institutional flows on the NiftyTrader FII-DII Tracker: niftytrader.in/fii-dii-data.
HDFC Bank Taps Dollar Market Again
HDFC Bank raised $1.75 billion through senior unsecured bonds via its GIFT City branch, a $500 million three-year tranche at a 5.159 per cent coupon and a $1.25 billion five-year tranche at 5.401 per cent, both settling August 26.
It’s the bank’s second offshore issuance in two months, following a $750 million raise in June, as Indian lenders rush to lock in overseas funding ahead of the RBI’s early closure of its FCNR(B) swap window on August 31, moved up from September 30. The bonds are rated BBB by S&P and Baa3 by Moody’s and will list on India INX and NSE-IX.
Check Live: HDFC Bank (HDFCBANK) Option Chain — Live Strike Data, OI & Greeks
Manipal Health: Two Profit Numbers, One Quarter
In its first results since its August 5 listing, Manipal Health Enterprises reported revenue up 38.1 per cent YoY to ₹3,091 crore for Q1 FY27, with EBITDA up 26.4 per cent to ₹749 crore, though EBITDA margin eased to roughly 24 per cent.
Inpatient and outpatient volumes grew 38.8 per cent and 26 per cent, and occupancy improved 290 basis points to 65 per cent.
The profit line is where the story splits: reported consolidated net profit fell 7.7 per cent YoY to ₹231 crore. But that figure includes ₹89 crore of post-tax interest on NCDs raised for the Sahyadri Hospitals acquisition, stripping that out, adjusted PAT rose 30.9 per cent YoY to ₹243 crore.
MD & CEO Dilip Jose called the quarter “an important milestone” as the company’s first as a listed entity, with Sahyadri integration remaining a key priority.
RailTel Adds To Its Order Book
RailTel Corporation received a ₹164.79 crore work order from Western Coalfields Limited to establish an MPLS VPN network on a 60-month rental basis, execution due by September 20, 2031.
It follows a one-year, ₹166.80 crore extension of RailTel’s EPFO infrastructure-as-a-service contract and a ₹63 crore order from Deendayal Port Authority secured on August 13, a third order win inside two weeks.
Other Stocks To Watch
Saatvik Green Energy: Subsidiary Saatvik Solar Industries has bagged a ₹190 crore order to supply solar PV modules to an independent power producer/EPC player, execution due by March 2027.
Amagi Media Labs: Trudy Holdings, AVP I Fund and Accel are likely to sell a combined 5 per cent stake via block deal worth around ₹600 crore, at a floor price of ₹550 per share, media reports said, citing sources.
InterGlobe Aviation (IndiGo): The airline held a 67.4 per cent share of the domestic aviation market in July, carrying 80.82 lakh passengers.
Hindustan Aeronautics: NCLT Bengaluru has dissolved Infotech HAL, the 50:50 joint venture between HAL and Cyient.
Tata Motors Passenger Vehicles: Normal operations have resumed at the Sanand plant and supplier facilities after flood disruption; the company expects the impact to be non-material.
Niva Bupa Health Insurance: IRDAI has warned the insurer for breaching Expense of Management limits in FY25 and barred new business locations for six months from August 19.
Krishna Institute of Medical Sciences (KIMS): Has entered a five-year O&M agreement, extendable by five more years, to run Aurevia Hospitals’ Arete Hospitals.
Lemon Tree Hotels: Opened an 85-room property in Bharuch, Gujarat — its 12th operational hotel in the state, managed by subsidiary Carnation Hotels.
HAL Emerges Kotak’s Top Defence Pick
Kotak Institutional Equities named Hindustan Aeronautics its preferred defence stock, retaining an ‘Add’ rating with a target of ₹5,305 against Thursday’s close of ₹4,998.
The call follows the government’s 6th Positive Indigenization List, 405 items worth an estimated ₹3,070 crore-plus in business potential, skewed toward defence electronics (56 per cent of items) and aerospace (21 per cent).
Kotak flagged Bharat Electronics, Astra Microwave, Data Patterns and Paras Defence as key beneficiaries, alongside component makers tied to the ALH, LCA Tejas, Su-30MKI and MRSAM programmes.
The brokerage set targets of ₹1,950 on Mazagon Dock and ₹860 on Cochin Shipyard, with a ‘Reduce’ on BEL and ‘Sell’ calls on MDL, Cochin Shipyard and Solar Industries.
Bottom Line
Thursday’s rebound broke a seven-session slide, but GIFT Nifty’s muted early move and continued FII selling suggest Friday needs its own confirmation rather than a straight follow-through.
The stocks most likely to move sharply are the ones with genuine company-specific triggers today, HDFC Bank’s funding story, RailTel’s order momentum, and Manipal Health’s split profit picture, rather than the index itself.
Watch whether Nifty can clear 24,350, or whether Thursday’s bounce proves to be short covering after a long losing run.
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