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Market weekly wrap: SENSEX, NIFTY50 shed nearly 1% amid high elevated oil prices, geopolitical tensions; Tata Motors PV top loser
6 min read | Updated on August 22, 2026, 11:46 IST
SUMMARY
During the week, broader markets outperformed the benchmark equity indices, with the NIFTY Midcap 100 losing 0.1% while the NIFTY Smallcap 100 outshone it, rising 1.2%.
Tata Motors PV shares tumbled this week as investors focused on the company’s latest price hike update across its cars and SUV portfolio. Image: Shutterstock
The Indian stock market ended lower for the second consecutive week on August 21, weighed down by elevated crude oil prices and weak global cues.
Brent crude prices surged nearly 7% during the week to settle at $93.93 per barrel after a deal to end the Middle East war appeared increasingly elusive. Concerns over energy supplies intensified after Iran said it would adopt a more offensive stance, while the US ruled out extending the ceasefire agreement.
Further, US President Donald Trump on Wednesday, August 19, announced what he called the “most crushing economic operation ever taken against any country,” threatening sweeping economic penalties against countries and businesses that provide financial or other support to Iran as he vowed to isolate Tehran.
The other global markets were also mixed throughout the week on oil supply uncertainty, as there were conflicting messages from Iran and the United States on whether the Strait of Hormuz is open for transit.
Market sentiment was lifted a bit as treasury yields fell after the US Treasury Department said it will at least double the size of its planned purchases of longer-term Treasuries from September 9 through November 4.
India is also widening its crude oil sourcing to Latin America as disruptions linked to the Iran conflict and the Strait of Hormuz push the world's third-largest oil consumer to diversify supplies, ship tracking data showed.
| NIFTY50 GAINERS | NIFTY50 LOSERS |
|---|---|
| HDFC Life Insurance Company (3.5%) | Tata Motors Passenger Vehicles (-5%) |
| Eternal (3%) | HCL Technologies (-4.2%) |
| Kotak Mahindra Bank (3%) | Infosys (-4.1%) |
| Power Grid Corporation of India (2.4%) | InterGlobe Aviation (-3.8%) |
| Axis Bank (2.3%) | ITC (-3.2%) |
Tata Motors PV shares tumbled this week as investors focused on the company’s latest price hike update across its cars and SUV portfolio, effective from the beginning of September 2026.
As per the latest NSE filing, Tata Motors PV will increase its prices across both its internal combustion engine (ICE) and electric vehicle (EV) segments by up to ₹25,000 per unit, effective from September 1, 2026.
Shares of IndiGo operator InterGlobe Aviation slipped following the DGCA's report on July domestic air passenger traffic. According to the Directorate General of Civil Aviation (DGCA) data, domestic air passenger traffic slipped 4.80% to 1.20 crore in July from 1.26 crore recorded in the year-ago month, with all major Indian airlines seeing a drop in the load factor.
The Gurugram-based IndiGo carried 80.82 lakh passengers during the previous month against 89.20 lakh in June.
Meanwhile, ITC shares dipped this week as media reports suggested that foreign portfolio investors (FPIs) reduced their stake in the firm for the fourth straight quarter.
How the broader market performed this week
During the week, broader markets outperformed the benchmark equity indices, with the NIFTY Midcap 100 losing 0.1% while the NIFTY Smallcap 100 outshone it, rising 1.2%.
| NIFTY Midcap 100 GAINERS | NIFTY Midcap 100 LOSERS |
|---|---|
| Motilal Oswal Financial Services (9.5%) | Voltas (-6.5%) |
| MCX (9.4%) | LG Electronics (-6.2%) |
| Lenskart Solutions (8.1%) | BSE (-6%) |
| Tube Investments of India (5.6%) | GE Vernova T&D India (-5.1%) |
| ICICI Prudential AMC (5.5%) | Coromondel International (-4.7%) |
Lenskart Solutions shares surged after the eyewear firm incorporated a step-down subsidiary. In a regulatory filing, Lenskart said its step-down subsidiary, Wenzhou Framekart Trade Co., Ltd, was incorporated on August 14, 2026, and the company received its Certificate of Incorporation on August 17, 2026.
| NIFTY Smallcap 100 GAINERS | NIFTY Smallcap 100 LOSERS |
|---|---|
| Welspun Corp (23.4%) | Himadri Specialty Chemical (-16.2%) |
| Jyoti CNC Automation (19.6%) | CESC (-7.6%) |
| Aegis Logistics (12.1%) | Aster DM Quality Care (-7.4%) |
| Netweb Technologies India (11.9%) | Tata Chemicals (-6.5%) |
| Urban Company (9.8%) | Tata Technologies (-5.4%) |
Shares of Welspun Corp, one of the key building materials companies in India, rallied as the company has secured a record order. The company secured the largest single order in its history—valued at approximately $1.8 billion (~₹17,200 crore)—for the supply of pipes from its manufacturing facility in the United States of America.
The order will be executed between FY 2027-28 & FY 2028-29.
Shares of Urban Company gained as the company plans to expand its partnership to the United Arab Emirates and the Kingdom of Saudi Arabia. According to a regulatory filing, Urban Company’s Middle East arm has partnered with Unicommerce to power its e-commerce operations across Saudi Arabia and the UAE.
Sectoral watch this week
Among sectors, the NIFTY Metal and NIFTY Realty indices emerged as the biggest contributors, rising 1.8% each. NIFTY Media and NIFTY Private Bank also surged 1.4% and 1.3%, respectively, while the NIFTY Bank index ended the week 0.5% higher.
Meanwhile, NIFTY IT (-2.6%), NIFTY FMCG (-2.3%), NIFTY PSU Bank (-1.4%), NIFTY Pharma (-0.3%) and NIFTY Auto (-0.3%) were the only sectoral losers during the week.
However, India VIX slipped 0.9% this week, indicating that the investors believe that the worst of the declines may be over.
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