Metal, banking and FMCG shares declined while media and pharma stocks advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 693.86 points or 0.85% to 81,306.85. The Nifty 50 index fell 213.65 points or 0.85% to 24,870.10.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index dropped 0.23% and the S&P BSE Small-Cap index shed 0.35%.

The market breadth was negative. On the BSE 1,777 shares rose and 2,308 shares fell. A total of 169 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Mangal Electrical Industries received bids for 4,59,75,462 shares as against 52,53,301 shares on offer, according to stock exchange data at 15:30 IST on Friday (22 August 2025). The issue was subscribed 8.75 times.

Buzzing Index:

The Nifty Metal index declined 1.25% to 9,375.45. The index fell 1.29% in the two straight trading sessions.

Lloyds Metals & Energy (down 2.79%), Adani Enterprises (down 2.22%), Tata Steel (down 1.79%), NMDC (down 1.72%), JSW Steel (down 1.66%), National Aluminium Company (down 1.45%), Hindustan Zinc (down 1.39%), Jindal Steel & Power (down 1.31%), Hindustan Copper (down 1.12%) and Steel Authority of India (down 1.1%) declined.

Stocks in Spotlight:

Knowledge Marine & Engineering Works (KMEW) surged 3.70% after the company announced that it has received a work order worth Rs 7.25 crore from the Dredging Corporation of India. The contract involves dredging approximately 64,358 cubic meters of material over a period of four months in the port dock areas of Paradip Port, excluding the monsoon season.

PTC Industries added 2.58% after the company announced that it has secured a Rs 110-crore order from BrahMos Aerospace for the supply of critical titanium castings.

Ceinsys Tech rose 0.57% after the company announced it has secured a service order from Adani Infra (India). The order, valued at Rs 2.24 crore, is for the implementation of a common data environment setup in the energy engineering cluster, covering nine businesses, and the Cement business. It also includes hypercare support for a period of nine months.

R Systems International surged 6.18% after the company has entered into a definitive agreement to acquire Novigo Solutions, strengthening its product engineering and full-stack agentic-AI capabilities. The transaction includes an upfront cash consideration of Rs 400 crore, along with additional stock consideration linked to future EBITDA achievement. The acquisition will be EPS accretive for R Systems from the first year.

Hikal rose 1.22% after the company announced that it has received a warning letter from the US Food and Drug Administration (US FDA) for its Jigani facility in Bengaluru, Karnataka.

Vodafone Idea soared 7.16% following reports that the government is considering a fresh relief package to ease the telecom operator's burden of adjusted gross revenue (AGR) dues. According to reports, the Prime Minister's Office (PMO) has initiated discussions on a proposal by the Department of Telecommunications (DoT) that could extend the moratorium period, offer flexible repayment timelines, and even waive penalties and interest.

Vodafone Idea currently faces AGR dues of around Rs 83,400 crore, with annual obligations of nearly Rs 18,000 crore from March 2025.

Global Markets:

Most European markets traded higher as traders assessed details of EU-U.S. trade deal

In an agreement reached last month, the EU said it would spend $750 billion on U.S. energy and invest a minimum of $600 billion in the United States ' in exchange, blanket tariffs on its goods were set at 15% instead of the 30% rate threatened by U.S. President Donald Trump.

Most Asia-Pacific markets ended higher Friday as investors await U.S. Federal Reserve Chair Jerome Powell's speech at the central bank's annual economic symposium, which could offer clues into the path of interest rates.

Japan's core inflation rate cooled to 3.1% in July, declining from 3.3% the month before as rice inflation continued to ease.

Overnight stateside, stocks fell broadly Thursday, with the S&P 500 sliding for the fifth day in a row.

The broad-market index shed 0.4% and closed at 6,370.17, while the Nasdaq Composite slid 0.34% and settled at 21,100.31. The Dow Jones Industrial Average fell 152.81 points, or 0.34%, ending at 44,785.50.

U.S. business activity picked up pace in August, led by a resurgent manufacturing sector that saw the strongest growth in orders in 18 months, a purchasing managers survey showed on Thursday. S&P Global's flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 55.4 this month, the highest level since December, from 55.1 in July. A reading above 50 indicates expansion in the private sector.

Meanwhile, the number of Americans filing new applications for jobless benefits rose by the most in about three months last week and the number of people collecting unemployment relief in the prior week climbed to the highest level in nearly four years, signaling recent labor market softness continued into August.

The data may also add to the argument for the Federal Reserve to lower interest rates at its next meeting in about four weeks.

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