Financial Summary: Friday, August 21, 2026

Bessent warns allies of toughest Iran sanctions as oil nears $94

Treasury Secretary Bessent is intensifying sanctions against Iran, warning allies as oil prices approach $94 per barrel. Trump has vowed unprecedented economic pressure.

Nifty holds 24,200 as metal stocks rally, realty gains, crude caps upside

Nifty is trading flat near 24,232 at midday, holding above 24,200, with gains in metal stocks and realty shares offset by a surge in crude oil prices. Power Grid Corporation leads the Nifty 50, up 2.25%.

Banks Lift Nifty 0.1% as IT Drags, Weekly Losses Persist

Indian benchmarks ended marginally higher on Friday, with the Nifty gaining 0.1% while the Sensex remained unchanged, as banking stocks, led by Kotak Mahindra Bank, offset IT sector losses.

MCX shares surge 8% as gold tops ₹1.61 lakh, silver nears ₹2.5 lakh

MCX shares have jumped 8% in three days, riding a rally in gold and silver futures. Gold prices climbed ₹1,432 to ₹1.60 lakh per 10 grams, then topped ₹1.61 lakh, while silver rose ₹2,369 to ₹2.45 lakh per kg, nearing ₹2.5 lakh. Analysts are weighing whether the 102% one-year rally in MCX shares can sustain, with firm spot demand and global cues driving the precious metals surge.

Welspun Corp wins $1.8B US order, shares hit record high

Welspun Corp has secured a massive $1.8 billion (Rs 17,200 crore) supply order from the US, driving its shares up 9% to a record high. The company highlights that the order requires zero new capex, leveraging existing capacity. The stock is leading gainers in the 'A' group, reflecting strong investor confidence.

Welspun Corp wins $1.8B order, shares surge 17%

Welspun Corp secures $1.8 billion order, driving shares up 17% and marking five consecutive sessions of gains.

Hindustan Zinc jumps 7% on metal rally, HSBC sees 33% upside

Hindustan Zinc shares have risen 7% over two sessions, reflecting a broader metal price surge. HSBC maintains a 'Buy' rating with a price target of ₹770 per share, citing potential catalysts and the stock’s underperformance relative to peers.

India tightens GST registration for firms passing ₹2.5 lakh credit monthly

India is considering new GST registration rules targeting businesses passing over ₹2.5 lakh in tax credit monthly, aiming to curb misuse and streamline compliance. Guidelines for uniform documentation are being developed by CBIC member GST Sanjay Mangal.

India's resale sugar prices drop 5% as imports loom, retail hits record

Resale sugar prices in India have declined by 5% as imports loom, while retail prices hit a new high.

India approves 29 FDI proposals worth Rs 4,895.65 crore under relaxed Chinese rules

India has approved 29 FDI proposals totaling ₹4,895.65 crore under relaxed Chinese shareholding rules, spanning IT, AI, manufacturing, pharmaceuticals, data centres and transport services. This marks a pragmatic shift in India's investment policy.