Sensex Today: Markets Trade Higher but Volatility Persists; Nifty Holds 24,600

Indian equity markets opened the week on a cautiously positive note on August 10, with the Sensex and Nifty trading in the green even as market volatility remained elevated. The benchmark indices moved within a narrow range during the morning session, reflecting a mixed trend across major stocks and sectors.

At 10:43 am IST, the Sensex was higher by 103.64 points, or 0.13%, at 78,602.81. The Nifty 50 gained 26.70 points, or 0.11%, to trade at 24,597.35. The Nifty was therefore hovering close to the 24,600 level as investors continued to assess individual corporate developments and broader market conditions.

The session remained volatile, with the India VIX rising around 3%. The volatility gauge reflects the market's expectations of movement in the Nifty over the coming period, making its rise an indication that traders were anticipating increased fluctuations.

Titan Leads Nifty Gainers

Titan Company emerged as one of the strongest performers among Nifty 50 stocks during the morning trade. Its shares gained about 2.6% and were trading around ₹5,069.50. The stock was also supported by positive brokerage commentary following its quarterly performance, with analysts highlighting jewellery growth, margins, market-share gains and product mix.

Technology stocks also contributed to the positive tone. Tech Mahindra advanced 1.74%, while Infosys gained 1.4%. Tata Steel was another notable performer, rising 1.72%. Trent also remained in positive territory, with a gain of nearly 1%.

The metal segment was particularly firm. The BSE Metal index gained around 0.6%, with SAIL, Tata Steel, Jindal Steel, NMDC and NALCO among the stocks recording gains. SAIL rose 1.65%, while Tata Steel increased 1.2% in the reported intraday data.

Financial Stocks Face Selling Pressure

The gains in the broader market were limited by weakness in several heavyweight stocks. HDFC Life was among the major Nifty losers, declining 1.07%. State Bank of India fell around 0.9%, while Adani Enterprises and Adani Ports also traded lower. Bharti Airtel declined about 0.71%.

Banking stocks were under pressure as well. The Nifty Bank index was down 161.79 points, or 0.28%, at 57,585.90 in the reported session. SBI remained weak despite analysts maintaining positive views on the lender following its quarterly results.

HSBC retained its buy recommendation on SBI and raised its target price to ₹1,310 per share, citing stronger-than-expected net interest margin performance, core fee income, cost control and credit costs. JPMorgan also maintained an overweight view on SBI with a ₹1,290 target, pointing to strong quarterly performance and better-than-expected loan growth.

Individual Stocks See Sharp Moves

Several stocks outside the headline indices witnessed significant price movements. Hitachi Energy was among the strongest performers in the Nifty Midcap 150 universe, climbing 9.74%. Paytm rose 4.47%, while Info Edge, Hero MotoCorp and Oil India also posted notable gains.

On the other hand, NLC India declined more than 5% during the session. Lupin and Indus Towers were also among the major losers in the midcap segment.

Inox Wind came under pressure after reporting weaker June-quarter results. Its shares touched a 52-week low of ₹73.57 and were down more than 5% in the reported trade. The company's first-quarter net profit fell 34.2% year-on-year to ₹64.1 crore, while revenue declined 1.5% to ₹814.1 crore. EBITDA also dropped 17%, with the margin narrowing compared with the year-ago period.

IPO and Earnings Activity in Focus

Market participants were also tracking primary-market activity. The Technocraft Ventures IPO had been subscribed 3.09 times by 10:33 am on its second day. The qualified institutional buyer and non-institutional investor portions were each subscribed 4.47 times, while the retail portion had received bids equivalent to 1.72 times the shares available.

A number of companies were also scheduled to announce quarterly results during the day, including Vodafone Idea, Bosch, Amara Raja Energy & Mobility, AstraZeneca Pharma, Bharat Forge, Sun Pharma Advanced Research Company and Zee Entertainment Enterprises, among others.

With the Sensex holding modest gains and the Nifty near 24,600, the market remained delicately balanced during Monday's session. Strength in technology, metals and select consumer stocks was offset by selling in banking and other heavyweight counters. The rise in India VIX further underlined the cautious and volatile nature of trading as investors monitored corporate earnings and stock-specific developments.