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The Indian stock market remained range-bound last week, with Sensex losing around 500 points and Nifty falling 205 points to end in the red. Analysts now highlight four key factors that can influence Dalal Street’s action during the upcoming week, from August 17 (Monday) to August 21 (Friday).

On Friday, Sensex and Nifty recorded slight losses even as oil prices stabilised around $87 per barrel. Sensex fell around 71 points to close at 78,009, while Nifty 50 lost 30 points to end the session at 24,366. Broader markets slipped into the deep red, with the Nifty Smallcap 100 and Nifty Midcap 100 indices falling around 0.7% each.

Here’s how analysts read the market pulse

A sideways trend persisted in the market on Friday as investors awaited greater clarity on the outlook for energy prices and global bond yields, said Vinod Nair, Head of Research, Geojit Investments Limited. He, however, noted that the market witnessed a recovery from the day’s lows, led by consumer durables and discretionary consumption stocks, supported by improving demand trends.

“Better-than-expected corporate earnings during the quarter, along with supportive domestic factors that could drive revisions to FY27 earnings estimates upward, continue to create opportunities for a bottom-up stock selection approach. Additionally, the stability in the rupee, moderation in India’s 10-year bond yield, and a gradual improvement in FII participation are providing support to the domestic macro-environment and supporting the inflation trajectory,” he further said.

US stocks
Wall Street ended lower on Friday as technology stocks retreated, weak retail sales weighed, and Middle East tensions persisted. The Dow fell 122 points, or 0.23%, the S&P 500 lost 0.16%, and the Nasdaq dropped 0.38%.
European markets
European shares fell 0.2% on Friday, snapping a four-week winning streak as rising oil prices and geopolitical tensions outweighed strong earnings. The STOXX 600 lost 0.3% for the week but remained within 1% of its record high.

Tech view
Going ahead, the immediate resistance for Nifty is placed in the 24,500-24,550 zone, according to SBI Securities. Any sustainable move above this zone could result in Nifty extending its pullback towards 24,700, followed by 24,850 in the short term, it added.

On the downside, the immediate support for Nifty is placed in the 24,230-24,200 zone, which coincides with the 100-day EMA, according to the domestic brokerage.

Most active stocks in terms of turnover
Bharti Airtel (Rs 2,441 crore), LG Electronics India (Rs 1,665 crore), HDFC Bank (Rs 1,480 crore), Reliance Industries (Rs 1,373 crore), Welspun India (Rs 1,262 crore), Bharat Dynamics (Rs 1,170 crore) and Zee Entertainment Enterprises (Rs 1,138 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.

Most active stocks in volume terms
Vodafone Idea (Traded shares: 77.89 crore), Zee Entertainment Enterprises (Traded shares: 11.12 crore), Welspun India (Traded shares: 7.35 crore), JP Power (Traded shares: 4 crore), Ashok Leyland (Traded shares: 3.92 crore), Yes Bank (Traded shares: 3.89 crore), and Ola Electric (Traded shares: 3.31 crore) were among the most actively traded stocks in volume terms on NSE.

Stocks showing buying interest
LG Electronics India, Elgi Equipments, Zee Entertainment Enterprises, ITD Cementation, Honasa Consumer, Vodafone Idea and Asahi Ind Glass were among the stocks that witnessed strong buying interest from market participants.

52-week high
Among the ones that hit their 52-week highs on NSE were Honasa Consumer, Welspun India, HEG, Ajanta Pharma, Minda Corp., Bosch and Neuland Labs.

Stocks seeing selling pressure
Stocks that witnessed significant selling pressure were NALCO, Ibull Housing Finance, Olectra Greentech, Natco Pharma, Aditya Infotech, HPCL and Allied Blenders.

52-week low
Among the ones that hit their 52-week lows on NSE were KEC International, UPL and IRB Infra Dev.

Sentiment meter favours bears
Out of the 3,461 stocks that traded on the NSE on Friday, August 14, 1,478 stocks witnessed advances, 1,854 saw declines, while 129 stocks remained unchanged.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Retail earnings put consumer in focus

Wall Street will get a series of fresh reads on the health of the U.S. consumer next week, with earnings from Walmart, Target, and Home Depot taking center stage during a relatively quiet stretch for economic data.

Home Depot (HD) kicks off the retail reports Tuesday, giving investors a look at demand for home improvement as consumers continue to contend with elevated borrowing costs and a sluggish housing market.

Target (TGT) follows Wednesday, with investors watching for signs of strength in discretionary spending and an update on the retailer’s outlook for the second half of the year.

Walmart (WMT) takes center stage Thursday. Investors will be looking for the retail giant’s latest read on consumer spending as well as the impact of tariffs and pricing. Walmart has topped earnings estimates in 15 of the past 16 quarters, while its outlook could move other retailers, including Costco (COST), Kroger (KR), and Albertsons (ACI).

Other notable earnings reports include Baidu (BIDU) on Tuesday; Analog Devices (ADI), TJX Companies (TJX), Lowe’s (LOW), and Estee Lauder (EL) on Wednesday; and Alibaba (BABA), Deere (DE), and Ross Stores (ROST) on Thursday.

On the economic front, the Federal Reserve will release minutes from its July meeting Wednesday. Investors will be looking for more detail on the debate among policymakers after the central bank held rates steady despite three hawkish dissents from Lorie Logan, Beth Hammack, and Neel Kashkari.

Friday’s global PMI reports will provide a fresh look at economic activity, while regional U.S. manufacturing data include Monday’s Empire State index and Thursday’s Philly Fed manufacturing report.

Elsewhere, Reddit (RDDT) joins the S&P 500 on Tuesday, replacing AvalonBay Communities (AVB).

And the English Premier League season kicks off Friday, putting Manchester United (MANU) and sports betting operators DraftKings (DKNG), Flutter Entertainment (FLUT), and BetMGM parent MGM Resorts (MGM) in focus.

Earnings spotlight: Tuesday, August 18: BHP Group (BHP), Home Depot (HD), Baidu (BIDU). See the full earnings calendar.

Earnings spotlight: Wednesday, August 19: Target (TGT), Lowe’s (LOW). See the full earnings calendar.

Earnings spotlight: Thursday, August 20: Walmart (WMT), Alibaba (BABA). See the full earnings calendar.

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Investing Group Spotlight

BridgeBio Pharma is entering an important stage of growth, driven by the continued commercial success of Attruby and Beyonttra and a promising pipeline of late-stage therapies. With multiple potential product launches ahead and improving financial prospects, the company is attracting increased investor attention. In the following analysis, ONeil Trader explores BridgeBio’s recent performance, growth opportunities, and outlook. The following article provides a more detailed overview of the company’s prospects and key catalysts.

(Free Full Article) Here’s a brief summary of the article:

BridgeBio Pharma delivered a strong second quarter, beating consensus estimates by $24 million and reaffirming expectations for more than $1 billion in 2026 Attruby/Beyonttra sales. Attruby continued its strong U.S. growth, with sales rising 311% year over year to $222.4 million, while Beyonttra royalties in Europe increased 62% sequentially. Management also highlighted encouraging evidence of Attruby’s potential kidney benefits and initiated a trial in a new rare kidney disease.

BridgeBio completed FDA submissions for three late-stage candidates, BBP-418, encaleret, and infigratinib, with potential launches through mid-2027 and combined peak sales estimates of $4 billion. A $1 billion preferred equity raise also strengthened the balance sheet and supports continued commercial investment.
With Attruby and Beyonttra continuing to grow and three potential product launches approaching, the author expects BridgeBio to become cash flow positive within 3 to 4 quarters and significantly profitable by early 2028. The author remains bullish despite the stock’s recent consolidation.

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Insider Watch

Check out the week’s top insider trades, highlighting significant purchases and sales by investors, directors, and executives. Notable transactions took place at Netflix (NFLX), Merck (MRK), and Pfizer (PFE).