Morning Market Report – 21st August 2025

Global Cues: US markets slipped again (S&P -0.24%, Nasdaq -0.67%) with tech stocks dragging; Amazon, Apple, Alphabet, and Broadcom fell >1%. Fed minutes showed concerns over tariffs and inflation, hinting it’s too early for rate cuts. GIFT Nifty is flat at 25,080. US 10Y yield eased to 4.29%, Brent crude at $67, Dollar Index at 98.3. Focus now shifts to the Jackson Hole Symposium, with Powell’s speech tomorrow. Stocks to Watch: Insurance (-ve): GST exemption on life & health premiums proposed. Negative for

, , , Star Health, Niva Bupa. Consumption, Cement, Auto (+ve): GST relaxations likely; 2-slab structure expected. OMCs, Reliance, GAIL (+ve): Russia offering 5% discount on crude & LNG. Defense (+ve): , defense peers upbeat after Agni-5 test & Rs 62k cr Tejas deal. Shree Cement (+ve): Tax demand cut to Rs 221.7 cr from Rs 588.6 cr. Vedanta (Neutral): Filed NCLT response on demerger. India Cements (Neutral): to sell 6.49% stake via OFS at ₹368/share. V-Guard: ICICI Pru MF bought 1% stake worth ₹245 cr. Jupiter Wagons (+ve): LOI for ₹215 cr Vande Bharat order. Railtel (+ve): Secured ₹50 cr orders from Odisha & Kerala. Telecom (+ve): Prepaid plans shifting to value-over-volume. JSW Infra (+ve): MOSL reiterates Buy, TP ₹380 (23% upside). Nazara Tech (-ve): Online Gaming Bill passed in Lok Sabha. Key Index Levels (Spot): Nifty 50: Support 24,900/24,800 | Resistance 25,100/25,200 BankNifty: Support 55,500/55,300 | Resistance 56,000/56,200 Fin Services: Support 26,400/26,300 | Resistance 26,600/26,700 Sensex: Support 81,500/81,300 | Resistance 82,000/82,300 📌 Markets may stay range-bound ahead of Powell’s speech. Sectoral moves expected in insurance, consumption, cement, defense, and energy.