Summary
The Sensex fell 281.09 points to close at 77,728.16 and the Nifty 50 lost 78.35 points to end at 24,287.65 on Monday, 17 August 2026, as IT and FMCG shares weighed on the benchmarks.
Nifty IT declined nearly 2% as the worst sector while Nifty Metal and Nifty Realty rose the most, with Infosys, Sun Pharma and HCL Technologies the top Nifty losers.
Turtlemint Fintech Solutions jumped 10% to ₹151.36 after first quarter revenue rose 40% to ₹294 crore, while Zaggle Prepaid hit the 20% lower circuit at ₹160.48 on a 32.9% profit decline.
Hindustan Copper rose 7.73% to ₹569.95 as global copper prices neared a record, and Brent crude edged up 0.15% to $88.65.
The Sensex fell 281.09 points, or 0.36%, to close at 77,728.16, while the Nifty 50 settled 78.35 points, or 0.32%, lower at 24,287.65.
The Nifty MidCap ended 0.05% higher and the Nifty SmallCap gained 0.36%.
Impact on the stock market
Sectoral gainers: The Nifty Metal and the Nifty Realty indices rose the most among sectors, with the metals strength lining up with the surge in Hindustan Copper. The Nifty SmallCap’s 0.36% gain added support to the broader market.
Sectoral losers: The Nifty IT index declined nearly 2% to end as the worst performer, which showed up directly in Infosys and HCL Technologies among the top Nifty losers. FMCG shares also weighed on the benchmarks.
| Sector/Index | Performance |
| IT & BPM sector | -1.75% |
| Healthcare sector | -0.46% |
| Oil & Gas sector | 0.08% |
| Real estate sector | 1.46% |
| PSU Bank in India | -0.37% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Hindalco | 1,049.90 | 1.98 |
| Tata Steel | 186.00 | 1.36 |
| HDFC Life | 543.00 | 1.33 |
| ONGC | 238.49 | 0.88 |
| Axis Bank | 1,227.30 | 0.81 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| HCL Tech | 1,325.00 | -2.57 |
| Infosys | 1,139.90 | -2.51 |
| Sun Pharma | 1,882.00 | -2.49 |
| TCS | 2,313.20 | -2.02 |
| Nestle | 1,470.00 | -1.94 |
Market aftermath: Impact on stocks
Turtlemint: A 10% Jump as Losses Narrow and Revenue Grows 40%
Turtlemint Fintech Solutions shares rose 10% to close at ₹151.36 on August 17 after the insurance distribution platform reported a narrower consolidated net loss of ₹37.78 crore for the June quarter, improving from a loss of ₹46.69 crore a year earlier. Revenue from operations grew 40% year on year to ₹294 crore.
The operating metrics explain the enthusiasm. Platform premium grew 49.8%, and service level operating profit rose 89% year on year, which Executive Director Anand Prabhudesai described as a clear signal that platform economics are strengthening at scale. Chairperson and Managing Director Dhirendra Mahyavanshi said the platform continues to scale across more than 19,000 pincodes, reflecting the strength of its distribution ecosystem. The message from management is that technology is driving efficiency across every layer of the business, from digital partner onboarding to sales support.
Zaggle Prepaid: A 20% Lower Circuit and a 52 Week Low
Zaggle Prepaid Ocean Services hit the 20% lower circuit at ₹160.48 on the NSE, a fresh 52 week low, after weak June quarter earnings. Consolidated net profit fell 32.9% to ₹17.53 crore from ₹26.11 crore a year ago, and slumped 56.8% from ₹40.60 crore in the March quarter. Revenue fell 31.5% sequentially, and the adjusted operating margin contracted to 8.2% from 10.1%.
Revenue from operations did grow 27.5% year on year to ₹423.26 crore, but the market focused on the profit drop. Zaggle attributed the margin squeeze to one time costs linked to its Dice acquisition, including transaction expenses and relocation costs for more than 100 professionals, and said revenue from Dice contracts will only start reflecting from the second quarter. Founder and Executive Chairman Raj P Narayanam framed the quarter as an inflection point, with the company shifting from a decade of profitable growth into a phase of consolidation focused on scaling artificial intelligence across its platforms and tightening cash flow discipline. Investors clearly want to see that transformation deliver before extending trust again.
Hindustan Copper: An 8% Rally on Near Record Copper Prices
Hindustan Copper shares settled 7.73% higher at ₹569.95 on the NSE, after touching a high of ₹574.90 during the session, as global copper spot prices moved close to a record. On the London Metal Exchange, the cash contract climbed as much as $518.50 a tonne above the three month contract, a sign of tight near term supply.
Copper prices are up nearly 16% so far this year, driven largely by heavy flows of the metal into the US as traders positioned ahead of an anticipated tariff decision from the Trump administration that could reduce supply available elsewhere. Global inventories remain adequate overall, though stockpiles have built up in the US outside exchange tracked warehouses while Chinese demand stays comparatively weak.
On the technicals, Virat Jagad of Bonanza said the stock has broken out of its ₹520 to ₹535 consolidation zone with improving volume. He sees fresh entry possible around ₹565 to ₹570, with resistance near ₹580 and then ₹600, support at ₹535 and ₹520, and a stop loss of ₹510 for existing positions. The relative strength index at 65 to 68 signals momentum but is approaching overbought territory, so chasing the move needs care.
Crude Oil: Higher on Fresh Hormuz Threats
Brent crude futures traded higher on Monday morning as uncertainty over ending the West Asia conflict continued. October Brent futures were at $88.65, up 0.15%, while October WTI futures were at $81.39, down 0.10%. On the MCX, August crude futures slipped 0.13% to ₹7,860.
The rhetoric hardened over the weekend. Iran’s Foreign Minister Abbas Araqchi said Iran had not decided to resume talks with the US and that shipping through the Strait of Hormuz will only resume once the US meets Iran’s conditions. Deputy Foreign Minister Kazem Gharibabadi went further, posting that the strait will be opened and closed only under Iran’s command. US President Donald Trump, speaking at a rally in New York, said paying a little more for petrol is worth ensuring Iran cannot get a nuclear weapon, and claimed he would soon declare the strait a territory of the United States. Elsewhere in commodities, natural gas fell 3.19% to ₹255.30 on the MCX, while turmeric rose 2.33% to ₹20,212 and guar gum added 1.48% to ₹11,650 on the NCDEX.
Conclusion
Monday underlined how sharply the market is separating winners from losers. The Sensex fell 281 points as IT stocks slid nearly 2%, yet metals and realty climbed and smallcaps closed higher. Turtlemint’s 40% revenue growth earned it a 10% gain, Zaggle’s profit slump cost it a fifth of its value, and Hindustan Copper rode global copper strength to a near 8% rally. With Iran and the US digging in over the Strait of Hormuz and Brent holding near $89, oil remains the biggest overhang on the broader market. Focus on the numbers companies are reporting, and keep one eye on the headlines coming out of West Asia.
