SEBI-registered research analyst Kunal Bothra has recommended Axis Bank and Mazagon Dock Shipbuilders as potential stock picks for Wednesday's trading session. According to reports from ET Now, Bothra has set a target price of ₹1,280 for Axis Bank with a stop-loss at ₹1,230, while Mazagon Dock Shipbuilders carries a target price of ₹2,700 with a stop-loss at ₹2,550.
The Indian stock market is expected to start on a stronger note on Wednesday (August 19), taking cues from the slight uptick in GIFT Nifty. As reported by ET Now, GIFT Nifty traded 0.2 per cent higher, or up 40 points, at 24,219 as of 8:20 am IST. GIFT Nifty serves as a pre-market indicator for the Nifty 50 and often signals whether the benchmark index is likely to open higher, lower or flat based on global market cues.
The Nifty IT index dropped by more than 1.93% on Tuesday, marking its biggest one-day loss in over a month and recording its sharpest single-day fall since July 1, 2026. According to latest market data, the index has extended its decline for the third straight session and has lost about 3.3% in the 3 trading sessions. Coforge emerged as the top loser in the index, falling over 2%, leading all constituents lower. The Nifty IT index has fallen 4.62% over the past week and remains down over 20% on a year-to-date basis. The decline was attributed to concerns that persistently high interest rates could dampen global technology spending.
The 30-share BSE Sensex fell 492.70 points, or 0.63 per cent, to settle at 77,235.46 on August 18, registering its third consecutive day of decline. According to ET Now, the 50-share NSE Nifty declined for the sixth straight session, sliding 132.75 points, or 0.55 per cent, to end at 24,154.90. The Nifty Bank index, which tracks the performance of the top 12 listed banks in the country, closed 235.40 points, or 0.41 per cent, lower at 57,262.40. Among broader market indices, the Nifty Midcap100 declined 0.43%, while the Nifty Smallcap100 ended flat. Market breadth remained negative with 1,924 of the 3,582 stocks traded on the NSE ending in the red, while 1,558 stocks closed higher.
