Nifty 50 Today: IT and metals lead as breadth stays weak
- August 24, 2026
- Posted by: Harsh Piplani
- Category: News
Quick market takeaways
- At 12:30:00 PM IST on 24 August 2026, Nifty 50 Today showed a mixed mid-session picture, with 16 stocks advancing and 34 declining.
- Non-ferrous metals, iron and steel, and IT led the gainers, while finance, banks, power and capital goods remained under pressure.
- Hindalco Industries rose 1.77%, while Adani Ports and Special Economic Zone declined 1.52%, setting the tone among the day’s leading movers.
- The key next-session watch point is whether IT and metal leadership can broaden beyond a limited set of stocks while financial and banking weakness eases.
Market summary
The market was uneven at midday, with more stocks falling than rising even as select large companies in IT and metals moved higher. The 50-stock universe tracked by Univest Market View had 16 gainers and 34 losers, indicating that the positive moves were concentrated rather than widely shared.
The equal-weighted constituent change was down 0.18%, while the market-cap-weighted constituent change was lower by 0.30%. This suggests that weakness among larger companies was meaningful alongside the wider negative breadth. Total volume stood at 11.38 crore shares and estimated turnover was Rs 7,979.06 crore. The represented market capitalisation was Rs 196.02 lakh crore. For retail investors, the practical takeaway is to distinguish between pockets of strength and the broader market’s still-cautious participation.
Why did the market move?
Metals and IT supplied the clearest positive impulse during the session. Hindalco Industries gained 1.77%, while JSW Steel rose 1.28% and Tata Steel added 1.06%. In technology, Infosys advanced 1.42%, HCL Technologies gained 1.34%, Wipro rose 0.58% and Tech Mahindra moved up 0.54%. These moves helped IT post a 0.64% sector gain despite Tata Consultancy Services being marginally lower.
Healthcare also added support, with Dr. Reddy’s Laboratories up 1.12% and Sun Pharmaceutical Industries higher by 0.75%. However, pressure across financials was pronounced: all four represented finance stocks declined, led by Bajaj Finserv at -1.22% and Shriram Finance at -1.15%. Banks were also weaker, with five of six constituents declining.
Infrastructure-linked and utility-oriented names added to the softer tone. Adani Ports and Special Economic Zone fell 1.52%, Bharat Electronics lost 1.29%, and Power Grid Corporation of India declined 1.21%. Their positions near intraday lows showed that selling pressure remained visible in these names through midday.
Overall, leadership in IT and metals was not yet broad enough to offset weakness across financials, banks, power and capital goods.
Market breadth analysis
The advance-decline ratio stood at 0.47, based on 16 advancers against 34 decliners. A ratio below one means declining stocks outnumbered advancing stocks, pointing to narrow participation in the upside. The contrast between the equal-weighted decline of 0.18% and the market-cap-weighted decline of 0.30% adds another useful layer: the wider basket was weak, while larger constituents also exerted a somewhat heavier drag.
This breadth profile matters because a handful of strong names can make parts of the market appear resilient while most constituents remain under pressure. Mid-session leadership was therefore selective, with IT and metal counters providing support but financial and bank stocks keeping the broader tone restrained.
Sector snapshot
IT and iron and steel lead multi-stock groups
Iron and steel was the strongest multi-stock group, up 1.19%, with both JSW Steel and Tata Steel advancing. IT followed with a 0.64% gain and four advances among five constituents. Infosys and HCL Technologies were the principal contributors, while Wipro and Tech Mahindra also remained positive. Healthcare gained 0.48%, although its participation was balanced at two gainers and two decliners.
Finance and banks remain the main weak spots
Finance fell 0.93%, with all four represented stocks declining. Insurance lost 0.86%, while power was down 0.66% as both Power Grid and NTPC traded lower. Banks declined 0.65%, with pressure in State Bank of India, Axis Bank, Kotak Mahindra Bank, ICICI Bank and HDFC Bank outweighing IndusInd Bank’s 0.43% gain. Logistics and capital goods were weaker one-stock categories and should be read as individual-stock moves rather than broad group trends.
Top 5 gainers
| Stock | Move | Why it matters |
|---|---|---|
| Hindalco Industries | Rs 1,052.35, +1.77% | Led the 50-stock gainers and lifted the non-ferrous metals pocket. |
| Infosys | Rs 1,136.90, +1.42% | Its gain was a key driver of IT’s positive showing. |
| HCL Technologies | Rs 1,320.00, +1.34% | Traded near the day’s high, reinforcing technology leadership. |
| JSW Steel | Rs 1,310.30, +1.28% | Supported a fully positive iron and steel group. |
| Dr. Reddy’s Laboratories | Rs 1,187.90, +1.12% | Traded near its intraday high and aided healthcare. |
Top 5 losers
| Stock | Move | Why it matters |
|---|---|---|
| Adani Ports and Special Economic Zone | Rs 1,674.10, -1.52% | Was the largest decliner and traded at its day low. |
| State Bank of India | Rs 1,034.60, -1.34% | Its weakness was notable within the softer banking group. |
| Bharat Electronics | Rs 408.65, -1.29% | Remained close to the day low, weighing on capital goods. |
| Bajaj Finserv | Rs 2,007.70, -1.22% | Highlighted the across-the-board decline in finance stocks. |
| Power Grid | Rs 269.10, -1.21% | Its near-low position reflected pressure in power stocks. |
Stocks to watch next session
Hindalco Industries and JSW Steel merit attention after leading their respective metal groups. Infosys and HCL Technologies will be watched to see whether IT strength extends beyond the current session. State Bank of India is important for gauging whether bank weakness stabilises, while Adani Ports and Power Grid remain relevant because both were trading at or very close to their intraday lows at midday.
Technical market view
The available intraday setup is defined by selective leadership and weak breadth. HCL Technologies and JSW Steel were near their day highs, while Dr. Reddy’s Laboratories was also near the high. Conversely, Adani Ports was at the day low, and Bajaj Finserv, Power Grid and Bharat Electronics were near their lows. This high-low split points to firm momentum in selected leaders but concentration rather than a market-wide advance.
The bull case
The constructive argument rests on visible strength across more than one multi-stock group. Iron and steel had both constituents in positive territory, while IT had four gainers out of five. Healthcare also remained positive at the group level. If these leadership pockets retain their gains and participation improves from the current 16 advancers, the market’s internal tone can become more balanced.
The cautious case
The cautious view is anchored in the 34 decliners, a 0.47 advance-decline ratio and declines in both equal-weighted and market-cap-weighted measures. Finance had no advancers, banks had five losers out of six, and power and insurance were entirely negative. Continued weakness in these larger financial and utility-oriented groups would keep market participation narrow even if IT and metals remain positive.
Univest Insights
The midday market driver is the divergence between technology and metal strength on one side and financial-sector pressure on the other. Hindalco Industries, Infosys, HCL Technologies and JSW Steel supplied the clearest positive leadership, while Adani Ports, State Bank of India, Bharat Electronics, Bajaj Finserv and Power Grid anchored the leading declines.
IT is the strongest broad leadership area because four of five tracked constituents were higher. Iron and steel showed the cleanest participation, with JSW Steel and Tata Steel both advancing. These groups contrast sharply with finance, where all four constituents were lower, and banks, where declines were widespread.
The 0.30% market-cap-weighted decline alongside a 0.18% equal-weighted decline indicates that weakness was not confined to smaller names. The represented universe’s Rs 7,979.06 crore turnover and Rs 196.02 lakh crore market capitalisation underline the relevance of these sector rotations within the tracked basket.
For traders and investors, the key signal to watch is…
Track the latest market moves on Univest Market View and explore the Nifty 50 Today screener.
Frequently asked questions
How was Nifty 50 Today at midday on 24 August 2026?
The tracked 50-stock basket was mixed, with 16 advancers and 34 decliners at 12:30:00 PM IST.
Which sectors were strongest at midday?
Iron and steel gained 1.19%, while IT rose 0.64%. Healthcare was also higher by 0.48%.
Which stocks were the top gainers?
Hindalco Industries, Infosys, HCL Technologies, JSW Steel and Dr. Reddy’s Laboratories were the top five gainers.
Which stocks were the top losers?
Adani Ports, State Bank of India, Bharat Electronics, Bajaj Finserv and Power Grid were the top five losers.
What did market breadth indicate?
The 0.47 advance-decline ratio indicated that declining stocks significantly outnumbered advancing stocks.
What should investors watch next session?
Watch whether IT and metal gains broaden and whether selling pressure in finance, banks and power starts to ease.
Published on 24 August 2026 at 12:30 PM IST
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Disclaimer
Investments in securities markets are subject to market risks. Read all related documents carefully before investing. This market update is for informational and educational purposes only and is not personalized investment advice or a recommendation to buy, sell, or hold any security.
