The Indian stock market extended gains for a third consecutive session on Friday, with benchmark indices the Sensex and the Nifty ending higher amid overall bullish global market sentiment.

Sensex rose 166.5 points to close at 78,095, while the Nifty 50 gained over 66 points to end the session at 24,384. Broader markets also remained in the green, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising more than 0.4%.

Analyst Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities, interacted with ETMarkets regarding the outlook for the Nifty and bank, as well as an index strategy for the upcoming week. The following are the edited excerpts from his chat:

Nifty has rebounded almost 3% this week. What is your view on Nifty going forward?

Over the past 15 weeks, the benchmark Nifty has remained range-bound, oscillating between 24,601 and 23,070. This trading range has narrowed further over the last seven weeks, with the index confined within a tighter band of 24,530-23,605, reflecting a lack of strong conviction from both bulls and bears. Despite this prolonged consolidation, recent price action hints that the balance may be shifting.

Over the last six trading sessions, the index has staged a sharp recovery of more than 760 points, enabling it to end the month with gains of over 2% while closing near the upper end of its consolidation range. The rebound was primarily driven by heavyweights, with large-cap stocks leading the market higher. Notably, Nifty has formed candles with shadows on both sides for four consecutive months, underscoring the prevailing market indecision. So, what do the technical indicators suggest about the market’s next move?

From a technical perspective, the index is currently trading above its 20, 50, and 100-day EMA levels, while hovering around its 200-day EMA. On the weekly chart, all major moving averages remain largely flat, indicating the absence of a sustained trend. Momentum indicators and oscillators on both the daily and weekly timeframes also continue to signal a sideways bias. With the setup approaching a critical juncture, the next few levels are likely to decide the market’s direction.

Going forward, the 24,550-24,600 zone is expected to act as a crucial resistance area, as it coincides with previous swing highs. A decisive breakout above 24,600 could pave the way for a rally towards 24,900, with the potential to extend further to 25,200 in the near term. On the downside, the 24,150-24,100 zone is likely to provide strong support, and holding above this region will be crucial for maintaining the positive bias.

IT index jumped a staggering 7% this week. How are charts looking and what’s the strategy for stocks in the sector?

Nifty IT has staged a strong recovery, rallying nearly 18.5% from its July 1 low of 25,699. While the index recently faced resistance near its 200-day EMA and witnessed some profit booking, the broader technical structure has improved considerably.The index has reclaimed its 20-week EMA for the first time since January 2026, indicating a meaningful improvement in the medium-term trend. Additionally, the MACD remains in a bullish crossover with rising green histogram bars, reflecting upward momentum.

The 29,800–29,750 zone is expected to act as immediate support. As long as the index sustains above this zone, the ongoing pullback is likely to extend towards higher levels.

Within the IT space, Persistent Systems, HCLTech, Tech Mahindra, and Coforge continue to display strong price structures and are well placed to extend their recovery, provided they hold above their respective support zones.

Any inputs on the Seasonality front, are there any interesting observations pertaining to the Market Trend over the last 10 years?

The Sensex has exhibited a relatively mixed performance during the month of August over the last 11 years. The index has ended the month in positive territory in 6 out of 11 years, delivering an average gain of 3.42%, while it has closed in the red on 5 occasions, with an average decline of 2.71%. Notably, in 2 of the last 3 years, namely 2023 and 2025, the Sensex ended August with losses of 2.55% and 1.69%, respectively.

Nifty’s performance has largely mirrored that of the Sensex. Over the last 11 years, the index has ended August higher in 6 years, posting an average gain of 3.46%, while it has recorded negative returns in 5 years, with an average loss of 2.58%. Similar to the Sensex, Nifty ended August in the red in 2023 and 2025, declining by 2.53% and 1.38%, respectively.

Historically, the FMCG sector has demonstrated favorable seasonality during August. Based on the last 20 years of historical data, the FMCG index has ended the month in positive territory in 13 out of 20 years, delivering an average gain of 2.84%. Since the post-COVID recovery period, the sector has witnessed only one negative August performance, falling 2.93% in August 2023, while ending the month in the green in all other years.

The PSE sector has also exhibited strong long-term August seasonality, ending the month higher in 12 out of the last 20 years with an average gain of 3.07%. However, recent trends have been less encouraging, with the index closing August in negative territory in each of the last three years, registering an average decline of 2.52% during this period.

The Auto sector has historically been one of the strongest performers during August. The index has ended the month in the green in 12 out of the last 20 years, generating an average gain of 5.30%. From a technical perspective, the index gave a 25,296-27,761 consolidation breakout on the daily timeframe. Given the sector’s historically favorable August seasonality, a sustained move above the upper end of the consolidation range could potentially trigger a fresh leg of the uptrend and pave the way for further upside in the coming month.

The IT sector has also displayed robust August seasonality. Over the last 20 years, the index has ended the month in positive territory in 12 instances, delivering an average gain of 5.87%. More recently, the index generated gains of over 4% in August 2023 and August 2024, while recording only a modest decline of 0.34% in August 2025. From a technical standpoint, the Nifty IT Index has rebounded nearly 18.5% from its low of 25,699 recorded on 1 July, indicating improving sentiment within the sector. If historical seasonality trends continue to play out, the ongoing recovery could extend further, allowing the index to build on its recent gains and outperform during the upcoming month.

What is the options data indicating about Nifty’s near-term trading range, and where are the key Call and Put positions building up?

Nifty has rebounded 778 points from its July 24 low of 23,606. Encouragingly, the index closed marginally above its 200-day EMA for the first time since July 6, indicating an improvement in the near-term technical structure.

From a broader perspective, however, Nifty continues to trade within the 24,531–23,606 range. Notably, the index had failed to sustain above its 200-day EMA on July 7, triggering a corrective decline. Therefore, the 24,550–24,600 zone remains a crucial hurdle on the upside.

The options data reinforces this view. The 24,600 strike has witnessed aggressive Call writing, with Call additions nearly 16 times higher than Put writing, making it a strong resistance zone. A decisive breakout above 24,600 could trigger fresh short covering, paving the way for further upside.

On the downside, the 24,000 strike holds the highest Put Open Interest, with Put writing nearly nine times higher than Call writing. This makes 24,000 a strong support level. However, a sustained breach below this mark could force Put writers to unwind their positions, potentially accelerating the downside move.

What are some stocks that are looking good for the week ahead?

Technically, Chola Finance, Paytm, Motherson, Torrent Pharma and Siemens are looking good.

What’s your strategy for Eternal, Vedanta, Adani Ports, Bajaj Finance, and Infosys?

Eternal:

Eternal gave a consolidation breakout on July 28 and has also closed above the previous three weeks’ high, reinforcing the bullish setup. The stock is trading above all key short and long-term moving averages, while the weekly RSI continues to trend higher, indicating strengthening momentum. The Rs 290–285 zone, which coincides with the 20-day EMA, is expected to act as a strong support. The bullish bias is likely to remain intact as long as the stock holds above this support.

Vedanta:

Vedanta is consolidating within a Rs 270–259 range, with the stock oscillating between its 20-day and 200-day EMAs, reflecting a lack of clear directional bias. The MACD has flattened and remains below the zero line, indicating a sideways trend. A decisive breakout above Rs 270 or a breakdown below Rs 259 is likely to provide the next directional move.

Adani Ports:

Adani Ports has broken below an upward-sloping trendline support on the daily chart and has since drifted lower. The stock has also slipped below its 100-day EMA, while the RSI continues to trend lower, reflecting weakening momentum. The rising ADX suggests that the prevailing downtrend is gaining strength. As long as the stock trades below the Rs 1,775–1,780 zone, the bearish bias is likely to persist.

Bajaj Finance:

Bajaj Finance retested its 20-day EMA and witnessed a strong rebound, reaffirming the underlying bullish trend. Earlier, the stock had broken above a downward-sloping trendline resistance on July 1, followed by a healthy rally and a successful retest of the breakout zone, which has now turned into a strong support.

The RSI has turned higher after consolidating around the 60 mark, signalling a revival in bullish momentum. At the same time, the DI+ remains well above DI-, highlighting strong buying interest. The stock is also trading above the upper Bollinger Band, a characteristic often seen during strong trending phases.

Adding to the positive outlook, the Bajaj Finance/Nifty Financial Services ratio chart has broken above a downward-sloping trendline on the weekly timeframe, indicating the stock is well placed to outperform its benchmark in the near term. The Rs 1,075–1,070 zone is expected to act as a strong support, and the bullish bias is likely to remain intact as long as this level holds.

Infosys:

Infosys faced stiff resistance near its 100-day EMA and ended the session lower. Despite recovering more than 10% from its July 24 low of Rs 1,014, the stock has struggled to sustain higher levels. The RSI has slipped below the 60 mark, indicating a pause in bullish momentum. The Rs 1,170–1,175 zone remains the immediate resistance, and a decisive breakout above this range could trigger a further extension of the ongoing pullback.

Central Depository Services (CDSL) on Saturday reported a consolidated net profit of nearly Rs 118 crore for the April-June quarter of the ongoing financial year 2027, marking around 15% year-on-year rise from the Rs 102 crore reported in the corresponding quarter of the previous financial year.

The Indian central securities depository’s revenue from operations meanwhile increased more than 13% YoY to Rs 293 crore during the quarter under review, from Rs 259 crore reported in the year-ago period

CDSL’s total income rose over 15% YoY to Rs 340 crore, while total expenses increased over 21% YoY to Rs 174 crore during the first quarter of the ongoing financial year.

CDSL became the first depository to register over 18.59 crore demat accounts as on June 30, 2026, extending the trajectory from 15.86 crore accounts at the same time last year, with the opening of nearly 58 lakh new demat accounts during the first quarter of FY27, the company said. It added that it completed an investment of Rs 1 crore for a 2% stake in Sahamati Foundation, an RBI-recognised self-regulatory organisation for the account aggregator ecosystem.

Speaking about the company’s performance, CDSL MD and CEO Nehal Vora said the quarter reflects CDSL’s continued focus on building scale and depth of leadership. “We remain committed to deepening investor education through initiatives such as Amar Chitra Katha, which make market awareness more accessible, relatable, and engaging. As India’s securities market continues to deepen, our responsibility is to support our Depository Participants and Issuer ecosystem in serving investors better, and in doing so, contribute to a more sustainable, inclusive, and trusted market infrastructure,” the executive added.

Also read | Divi’s Labs Q1 Results: Net profit rises 66% YoY to Rs 902 crore, revenue up 28%

CDSL share price

CDSL shares closed with marginal losses at Rs 1,333 apiece on Friday. The stock has overall recorded marginal losses in a week, but gained more than 2% in a month. The stock is however down 8% in 2026 so far.
In the longer term, the shares of the company have fallen more than 10% in a year, but delivered positive returns of more than 116% in three years and 100% in five years. The company has a market capitalisation of nearly Rs 27,837 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

This article was written by

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Brazilian midfielder Casemiro offered effusive praise for new Inter Miami teammate Lionel Messi following his departure from Manchester United, describing the Argentine star in the most exalted terms shortly after arriving at the Major League Soccer club.

Inter Miami, co-owned by David Beckham, announced Casemiro’s signing immediately following the conclusion of the 2026 FIFA World Cup last month. The contract runs through 2027 and includes an option for a two-year extension. Speaking to the outlet All About Soccer after training alongside Messi at the club’s facility, Casemiro did not hold back in his assessment of his new teammate. “Messi is one of the gods of football, no, he is simply ‘the god of football’ itself,” Casemiro said, according to the report.

Casemiro, 34, spent nine years at Real Madrid, where he played alongside Cristiano Ronaldo and the two combined to win the UEFA Champions League four times together. During that period, Real Madrid and Barcelona, Messi’s longtime club, formed one of soccer’s fiercest rivalries through the annual “El Clásico” matches, meaning Casemiro faced Messi repeatedly as an opponent throughout much of his career before now joining him as a teammate for the first time.

Reflecting on the shift from rival to teammate, Casemiro described the early days of training alongside Messi as a striking experience. “Training with Messi for two days was an unbelievable experience,” Casemiro said. “I already knew it was impossible to stop him because I faced him as an opponent. Now that I’m on the same side, I’m really happy. I want to keep enjoying this moment.”

Casemiro made his competitive debut for Inter Miami in an away match against CF Montreal on July 26, helping the team secure a 1-0 victory that was decided by a goal from longtime Messi collaborator Luis Suarez. The result marked an encouraging start for Casemiro as he begins integrating into a squad already built around some of the sport’s most recognizable attacking talent.

Casemiro is expected to line up in Inter Miami’s midfield alongside Argentine international Rodrigo de Paul, forming a partnership intended to provide greater defensive stability for a team that had previously struggled with an unsettled back line. His arrival is expected to serve as a defensive foundation that allows the club’s attacking players, including Messi, Suarez, Mexican forward Germán Berterame and Argentine forward Mateo Silvetti, to advance further up the field with less defensive risk.

Beyond his on-field role, Casemiro explained that his move to Miami reflected a rare degree of personal agency in choosing his next club. “For the first time in my career, I was able to freely choose where I wanted to go,” Casemiro said. He went on to describe a longstanding connection to the city itself. “I have always had a special affection for the city of Miami, and I am very happy because of the tremendous effort the club showed to bring me here.”

Casemiro also used the moment to push back against perceptions of Major League Soccer as a lesser competitive league relative to Europe’s top divisions, pointing directly to Messi’s continued presence in MLS as evidence of the league’s growing stature. “Many people think the MLS still has a long way to go, but we must not forget that it is a league where the best player from the last World Cup is playing,” Casemiro said, a reference to Messi’s continued individual excellence on the world stage even as he enters the later stages of his career at Inter Miami.

Casemiro’s move to MLS adds another prominent name to a growing list of established international stars who have joined the American league in recent years, a trend that accelerated significantly following Messi’s own arrival at Inter Miami in 2023. The club has continued building out its roster with experienced, championship-caliber players in the years since, aiming to pair that veteran talent with rising South American prospects like Silvetti as the team competes for MLS Cup and continental honors.

With Casemiro now settled into the squad following his competitive debut and early praise for his new teammate, Inter Miami will look to build on its win against CF Montreal as the club continues navigating the remainder of its MLS season, with expectations elevated given the star power now assembled across the roster following Casemiro’s arrival alongside Messi, Suarez, de Paul and the club’s younger attacking talents.

This article was written by

Patrick André
CEO & Executive Director

Good morning, ladies and gentlemen. Welcome to the Vesuvius Half Year 2026 Results Presentation. My name is Patrick Andre, Chief Executive of Vesuvius. And with me this morning is Mark Collis, our Chief Financial Officer.

I will start with some updates on our performance during the half year. Then Mark will give you more details on our financials. I will conclude at the end of the meeting with some perspectives for the full year 2026 and beyond before opening the floor for questions.

Our performance for the half year was resilient and in line with last year’s, driven by self-help actions offsetting temporary operational disruptions. Our revenues slightly increased by 1.5% on a constant currency basis. Our trading profit at GBP 74 million was similar to last year’s, also on a constant currency basis. Our return on sales decreased marginally by 10 basis points as compared to last year on a constant currency basis. As expected, our free cash flow generation increased significantly by GBP 41.4 million year-on-year to a total of GBP 27.5 million, driven by improved working capital discipline and stronger operating cash generation.

Working capital intensity declined from 23.6% to 23.1% and is expected to improve further in the second half. Our net debt-to-EBITDA ratio improved to 1.9 on a pro forma basis and is expected to improve further in the second half. These positive trends in cash generation made the board confidence to

SpaceX shares closed at $108.37 Friday, down 3.41% for the session, trading within striking distance of the stock’s all-time low of $107.01 set just days earlier, as investors weigh a wave of upcoming insider selling against the company’s long-term growth ambitions. Because this involves an individual investment decision, the following covers the publicly available facts and differing analyst views rather than a recommendation, and it isn’t a substitute for advice from a licensed financial professional.

SpaceX completed the largest initial public offering in history on June 12, pricing shares at $135 and raising approximately $75 billion, an offering that valued the company at nearly $1.8 trillion. The stock surged in its opening days of trading, briefly pushing SpaceX past both Amazon and Microsoft in market capitalization and reaching an intraday all-time high of $225.64 on June 16, according to TradingView. Since that peak, however, the stock has fallen sharply, dropping more than 50% to trade around $108 to $113 as of late July, according to Investing.com, putting shares roughly 19% below their original IPO price and just above the stock’s 52-week low.

A significant driver of recent selling pressure has been the approaching expiration of insider lockup restrictions, the contractual period following an IPO during which company executives, early investors and employees are barred from selling their shares. CNBC’s Jim Cramer addressed the dynamic directly in commentary published July 28, advising investors interested in the stock to wait for that initial wave of insider selling to play out before considering a purchase. “If you want to buy SpaceX, let the first wave of insider selling lockups expire,” Cramer said, according to CNBC. In a separate piece of commentary the same day, Cramer counseled patience more broadly, saying, “It probably pays to be patient with SpaceX.”

The scale of expected insider selling once lockup restrictions lift has become a central concern for analysts modeling the stock’s near-term trajectory. Motley Fool analyst Geoffrey Seiler wrote that a substantial increase in the number of freely tradable shares could weigh on the stock for an extended period. “With a deluge of shares expected to exponentially increase the amount of SpaceX stock available on the open market, this is a headwind the stock will have to contend with for most of the rest of 2026 and into 2027,” Seiler wrote, adding that “SpaceX’s stock price could get cut in half from here by year-end.”

Options markets have reflected similarly cautious positioning among some traders. According to TipRanks, options traders have placed approximately $26 billion in short bets against SpaceX stock as of late July, indicating a meaningful segment of the market is betting on continued near-term price declines rather than a recovery.

Valuation remains a central point of debate among analysts covering the stock. Even after its sharp pullback, SpaceX carries a market capitalization of roughly $1.49 trillion to $1.7 trillion, according to figures from TradingView and Motley Fool, for a company that generated less than $19 billion in revenue during 2025 and posted a net loss of $4.3 billion in the first quarter of 2026 alone, according to TradingView. Morgan Stanley, which maintains a bullish stance on the stock, projects SpaceX’s revenue could reach $45 billion this year, driven substantially by growth in the company’s Starlink satellite internet business, but the bank does not expect SpaceX to become free-cash-flow positive until 2035, according to Motley Fool’s reporting.

Despite the stock’s recent decline, Wall Street’s overall analyst consensus on SpaceX has remained decisively positive. According to Investing.com, 27 analysts currently recommend buying the stock while only one suggests selling, resulting in an overall buy rating. The average 12-month price target sits at $236.71, with estimates ranging from a low of $62 to a high of $800, implying more than 119% potential upside from Friday’s closing price, though the unusually wide range of those targets itself reflects significant uncertainty among analysts about how to value a company this large that remains deeply unprofitable.

SpaceX’s business has continued to expand beyond its traditional rocket launch and Starlink satellite internet operations. The company completed its acquisition of xAI, Elon Musk’s artificial intelligence venture, in February 2026, adding AI operations as a third major business segment. More recently, reports have indicated SpaceX is exploring a potential move into offering wireless phone service in direct competition with traditional carriers, according to Semafor reporting cited by CNBC, a development that contributed to declines in shares of AT&T and Verizon in late July amid concerns about new competition tied to SpaceX’s expanding satellite spectrum ambitions.

SpaceX’s ownership structure has also drawn separate scrutiny. Musk has publicly declined to rule out a potential future merger between SpaceX and Tesla, remarks made July 22 that added another layer of speculation to how investors should value the space company relative to Musk’s other ventures. Congressional stock trading in SpaceX shares has separately drawn attention, with reports in late July raising conflict-of-interest concerns tied to purchases by members of Congress, according to CNBC.

With the stock trading near its post-IPO low, a substantial insider lockup expiration still ahead, and analysts sharply divided on how to value a company burning significant cash while pursuing an ambitious, capital-intensive growth strategy, prospective investors are likely to want to weigh their own risk tolerance, time horizon and portfolio diversification needs carefully, and may wish to consult a licensed financial advisor, before making a decision about whether current prices represent an attractive entry point or a stock still working through the aftermath of an unusually volatile public debut.