Stock market recap: Benchmark equity indices, the Sensex and the Nifty 50, clocked healthy gains on Thursday, 20 August, amid largely positive global cues.
The 30-share pack Sensex closed 628 points, or 0.82%, higher at 77,537.72, while the Nifty ended 154 points, or 0.64%, up at 24,231.85. The rally was broad-based, with the Nifty Midcap 150 index climbed 0.36% and the Nifty Smallcap 250 index rising by 0.58%.
The overall market capitalization of BSE-listed firms rose to over ₹491 trillion from ₹488.70 trillion in the previous session.
The advance-decline ratio shifted in favour of advancers, as out of some 4,550 stocks traded on the BSE, nearly 2,450 advanced while about 1,875 declined.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
360ONE [current market price ₹ 1203 - Buy above ₹1205, stop loss ₹1165, target price ₹1325 (Multiday)]
- Why it’s recommended: 360 ONE Ltd is a major Indian financial services wealth and asset management firm catering primarily to high-net-worth and ultra-high-net-worth families, institutions, and corporate clients. Since April 2026 the stock has been making a higher low as the prices take support at the Tenkan Sen and Kijun Sen lines and are slowly heading higher. The positive Q1 numbers and the rounding pattern revival are adding to the buying interest that is generating a upward bias. The burst of volume above near the support zones has been attracting attention. With the Directional Index firmly inching higher , it can lead to some strong upward move in the coming weeks. Go long.
- Key metrics:
- P/E Ratio : 133.70
- 52-week high: ₹1235.65,
- Volume: 1.75M
- Technical analysis: Support at ₹1140, resistance at ₹1300.
- Risk factors: Sensitivity to market-linked assets and Assets Under Management (AUM) fluctuations, client and relationship manager attrition, evolving regulatory changes, and concentration or credit risks
- Buy : above ₹1205.
- Stop loss: ₹1165.
- Target price: ₹1325 (2 Months)
BRIGADE [current market price ₹625.75 - Buy above ₹630, stop loss ₹595, target price ₹695 (Multiday)]
- Why it’s recommended: Brigade Enterprises Ltd. has a diverse portfolio spanning residential, commercial, retail, and hospitality sectors, alongside operations in education and property management. The negative Q1 numbers impacted its recovery briefly , however a strong deal combined with the recent revival in the Real Estate sector helped its upside aspirations. With the prices are reflecting a sustained buying we should consider going long. A consolidation breakdown with some steady volumes that is indicating a potential decline in store. Consider going long.
- Key metrics:
- P/E: 26.98,
- 52-week high: ₹801.56,
- Volume: 1.51M.
- Technical analysis: Support at ₹560, resistance at ₹750.
- Risk factors: Environmental clearance challenges and property tax disputes), and exposure to commercial absorption slowdowns tied to global IT/GCC spending cycles.
- Buy : above ₹630
- Stop loss: ₹595
- Target price: ₹695 (2 Months)
MEESHO [current market price ₹209.51 - Buy above ₹210, stop loss ₹198, target price ₹235 (Multiday)]
- Why it’s recommended: Meesho Ltd is an Indian e-commerce company that operates a multi-sided online marketplace connecting individual consumers, small business sellers, logistics providers, and content creators. The last few quarters the prices have remained muted. We can see now that the strong thrust on the back of a block deal has pushed the prices beyond the value resistance region around 197. With the prices are reflecting a sustained buying and the Retail sector showing strong resilience we consider going long.
- Key metrics:
- P/E: 67.72,
- 52-week high: ₹254.65,
- Volume: 34.04M.
- Technical analysis: Support at ₹175, resistance at ₹300.
- Risk factors: Persistent net losses, a heavy reliance on cash-on-delivery orders, and fierce competition from well-funded rivals like Amazon and Flipkart.
- Buy : above ₹210
- Stop loss: ₹198
- Target price: ₹235 (2 Months)
How the stock market performed on 20 August
Indian equities extended their losing streak on Thursday, 20 August, with sentiment fragile amid persistent selling pressure and elevated crude prices. The Nifty 50 slipped 0.20% to close at 24,240.25, marking its eighth straight decline and inching closer to the key 24,000 level, while the Sensex eased 0.14% to settle at 78,115.80. Despite stronger-than-expected Q1 earnings, the market has struggled to find support, as concerns over inflation, fiscal balances, and potential rate hikes continue to weigh on investor confidence.
Banking and financial stocks fell nearly 0.5%, pressured by uncertainty surrounding the Reserve Bank of India’s draft loan-pricing rules. Broader indices showed resilience, with small-caps rising 0.3% and mid-caps gaining 0.2% on selective buying. Tata Motors remained a bright spot, advancing 3% on robust demand and earnings momentum, while Tata Group shares steadied after recent leadership-related volatility. Overall, sentiment stayed muted, reflecting caution despite supportive global cues.
Outlook for trading
Markets have been quite choppy as the overall trends have been difficult to decipher. Lack of clarity forces us to resort to a limited range action. Hence, it’s best to move to a buy on dip and sell on rally approach. Sector rotation has been quite evident and this is increasingly becoming a theme in which one needs to operate to encash the momentum. With the US- Iran deal in sight the markets saw a fair bit of upward traction as the dip in Crude Oil did bring in some enthusiasm in the Equity markets.
However, Auto, Realty and Banking stocks that lead to some strong upside in the while there was some disappointment seen in Energy counters as the oil which was on the boil began to recede. The negative fallout from these would be the refineries while the OMC ‘s bore the brunt of this much awaited decision. Impact of rise in Crude Oil would continue to affect the companies who use this as an ingredient for example paints, stocks like Asian Paint have been trading lower during the entire week. The impact of war has affected the FMCG sector through the rise in prices that was passed on to the consumer, the receding of the same could lead to a softening of this stance and thus a possible recovery.
On the global front we brace ourselves for how the trends will emerge as the world remains in the dark towards the resolution or a possible resolution to the continuing war scenario that is making it a challenging affair.
Back home the sharp surge saw the Nifty treading reacting from strong supports around 24000 -24100 as we have been mentioning. Looking at the charts below we can observe that there is once again an attempt made at revival. The steady higher lows being formed is indicating that the along with the other indices producing a pullback. Steady profit booking soon emerged to drag down the markets swiftly lower. The main culprit was the broader indices failed to move higher and capsized quickly as negative news flow of war seeped in.
Markets have now clearly indicated a hesitation to build on the gains made since April. The resistance levels that we had highlighted in the midweek update came into play to introduce some pullback. However, the sustained bearish bias took a break as trends remained cautious while the short build up in the 24300 Call headed higher.
At the moment the important supports are clearly not able to come into force as per the Open Interest data. If we witness a 30-minute range breakout on Friday we can consider that as an indication to carry on the recovery demonstrated.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.