At 09:30 IST, the barometer index, the S&P BSE Sensex, added 116.91 points or 0.14% to 81,977.95. The Nifty 50 index rose 18.15 points or 0.07% to 25,068.45.

In the broader market, the S&P BSE Mid-Cap index shed 0.05% and the S&P BSE Small-Cap index rose 0.18%.

The market breadth was positive. On the BSE, 1,862 shares rose and 1,140 shares fell. A total of 169 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,100.09 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,806.34 crore in the Indian equity market on 20 August 2025, provisional data showed.

Economy:

India’s eight core industries grew by 2% in July 2025 compared to the same month last year, according to data released by the Commerce and Industry Ministry on Wednesday. The growth was driven by higher production in steel, cement, fertilisers, and electricity.

These eight sectors—coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement, and electricity—account for 40.27% of the weight in the Index of Industrial Production (IIP), making them key indicators of overall industrial performance.

Steel, which holds the highest weight (17.92%) in the index, surged 12.8% in July, buoyed by strong demand from government infrastructure projects. Cement output rose 11.7%, reflecting robust construction and infrastructure activity. Fertiliser production increased 2%, supported by healthy kharif sowing and good monsoon rains. Electricity generation edged up by 0.5%.

However, several sectors saw declines. Coal production dropped 12.3% due to heavy monsoon rains. Crude oil and natural gas output fell by 1.3% and 3.2% respectively, while refinery production dipped 1%.

Cumulatively, core sector growth for April–July FY26 stood at 1.6% year-on-year. Steel and cement led the gains with growth of 8.5% and 8.9%, respectively.

The revised core sector growth for June 2025 stood at 2.2%, pointing to a steady industrial trend in the early months of the fiscal year.

Stocks in Spotlight:

Ultratech Cement rose 0.21%. The company’s board has approved the sale of upto 2,01,12,330 equity shares of The India Cements (ICEM), representing 6.49% of the issued and paid-up equity share capital of ICEM, by way of an offer for sale through the stock exchange mechanism.

Railtel Corporation of India added 3.48% after the company has received the work order from Kerala State Information Technology Mission for operation & management (O&M) of state data centre (SDC) amounting to Rs 34.99 crore (excluding tax). Additionally, it has also received the work order from Higher Education Department, Govt of Odisha for work order amounting to Rs 15.42 crore (excluding tax).

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.09% to 6.503 from the previous close of 6.497.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.9450 compared with its close of 87.0700 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement shed 0.21% to Rs 99,095.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 98.30.

The United States 10-year bond yield shed 0.12% to 4.293.

In the commodities market, Brent crude for October 2025 settlement rose 18 cents or 0.27% to $67.02 a barrel.

Global Markets:

Asian markets were broadly mixed on Thursday as investors braced for three days of potentially market-moving news from the Federal Reserve's annual symposium in Jackson Hole.

Central bankers from around the world will attend the event, which begins later in the day, although the key focus will be Fed Chair Jerome Powell's speech on Friday as traders look for clues on the chances of a September rate cut.

Overnight stateside, two of the three key benchmarks ended the session on Wednesday in declines as tech stocks dragged the market lower.

The broad market S&P 500 index slipped 0.24% to close at 6,395.78, while the tech-heavy Nasdaq Composite lost 0.67% and settled at 21,172.86. Wednesday marked a fourth day of losses for the S&P 500 and a second negative session for the Nasdaq.

Meanwhile, the Dow Jones Industrial Average was the outlier, adding 16.04 points, or 0.04%, and settling at 44,938.31.

Minutes from the Fed's July gathering released yesterday, when policymakers voted to keep rates steady, suggested that Fed Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller were alone in pushing for a rate cut at the meeting.

Fed Chair Powell had said he is reluctant to cut rates because of expected tariff-driven price pressures this summer.