Market View 20th August, 2026

View on market: Volatility persists, eagerly searching for growth:

Asian markets traded higher on Thursday, supported by an overnight recovery in US stocks and a decline in US Treasury yields. South Korea led regional gains, while Japan and Australia also moved higher. The positive trend came after Wall Street recovered, with the S&P 500 ending a three-session losing streak. US bond yields eased from recent highs after the government announced measures to reduce pressure in the Treasury market following the recent selloff. US equity futures remained largely stable, indicating a cautious but positive start for Wall Street. However, Indian markets remained under pressure in the previous session. The Nifty continued its losing streak, while the Sensex also declined. Rising crude oil prices remained a key concern for investors and weighed on market sentiment. The Nifty stayed below an important level throughout the session and recorded its longest losing streak in several months. The Sensex also extended its recent weakness, falling in most of the previous sessions. Overall, Indian markets remain cautious amid higher crude prices and continued selling pressure.

Economic Calendar:

• USD: Continuing and Initial Jobless Claims Data on 20^th August 2026.
• IND: Infrastructure Output on 20^th August 2026.
• USD: S&P Global Composite, Manufacturing and Services Data on 21^st August 2026.
• IND: S&P Global Composite, Manufacturing & Services PMI and Bank Loan & Deposit Growth Rate and Foreign Reserves Data on 21^st August 2026.

BROKERAGE RADAR:

GOLDMAN SACHS ON GODREJ CONSUMER:

Target ₹1175 Recommendation Accumulate, Strategic direction intact, focus to dial up execution, Initiatives on portfolio transformation to continue, HI – incense sticks will be rapidly scaled up, but LV will also be a priority, Focus on improving execution in India business, plans to bring in an India CEO.

JEFFERIES ON EMMVEE PHOTO:

Target ₹440 Earlier Target ₹400 Recommendation Accumulate, Quality Available Cheap, Bullish on early entry into TOPCon cells, strong order book, focus on the solar PV chain, Net-debt-free balance sheet position it well to backward integrate to ingot/wafer, To sustain industry-leading profitability over the medium-term, Raise FY27/28 Ebitda 2%/7% and forecast 33% Ebitda Cagr over FY26-29.

MORGAN STANLEY ON LEELA PALACE:

Target ₹600 Recommendation Overweight, Believe the share price will rise over the next 60 days, July STR data was strong and should support outperformance for Leela stock, On a YoY basis, India’s ARR and RevPAR grew ~12.4% and 17.6%, respectively, Delhi market (key for Leela): RevPAR growth of 26.6% YoY (two-year CAGR: 12.8%) vs. +20.1% YoY growth in June 2026.

JEFFERIES ON SWIGGY:

Target ₹435 Recommendation Accumulate, Swiggy’s IOCC transition moves a step closer with shareholder approval of the 49.5% foreign ownership cap, Move supports mgmt’s plan for a 1P (inventory-led) model at Instamart (Q/C), This could drive 80 bps margin upside, Cap may help mitigate potential regulatory risks despite current Q/C models being compliant, Passive outflows are likely once the new foreign ownership framework is implemented.

International Markets:

U.S & Europe:

*As per 20^th August.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

View on market: Volatility persists, eagerly searching for growth

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