The Close

The Long Desk

The Close · The Open · The Long Desk · Archive · Research
Fri, 21 Aug 2026
2000 companies · 2294 sector slots · 12 sectors · long-term lens

Trend Spotlight computed

Metals & Mining led the market: ▲ +0.86% on Nifty Metal, closing 13,172.60.

No news narrative was written for this session, so this is the largest sector index move rather than a judged catalyst. The desk's stance for this sector is AVOID, which is a valuation-and-quality reading and does not move with one session.

Market Overview

IndexClosePoints ChangeP/EP/B
Nifty 50 24,252.00 ▲ +20.15 ▲ +0.08% 20.50 2.94
Nifty Next 50 73,992.10 ▼ -202.05 ▼ -0.27% 19.56 3.32
Nifty 500 23,530.30 ▲ +17.35 ▲ +0.07% 22.86 3.29
Nifty Bank 57,761.95 ▲ +266.05 ▲ +0.46% 13.67 1.73
NIFTY Midcap 100 63,735.75 ▲ +64.20 ▲ +0.10% 30.72 4.44
▲ 1300 advancing ■ 53 unchanged ▼ 1271 declining of 2624 equities, vs the 2026-08-20 close
Cash market, ₹ crore
FII / FPI net
▼ -542.71
bought 12,561 · sold 13,104
DII net
▲ +2,124.14
bought 15,259 · sold 13,135

Source: NSE ind_close_all_20260821 (levels, index P/E and P/B) and the full-market bhavcopy (breadth).

Sector performance

This session's index move, next to the desk's standing stance. The stance is a valuation-and-quality reading over years — it does not move because an index had a good day.

SectorIndexSession Idx P/EStance
Metals & Mining Nifty Metal · 3 researched 13,172.60 ▲ +0.86% 16.0 AVOID
Banks Nifty Bank · 3 researched 57,761.95 ▲ +0.46% 13.7 AVOID
Realty Nifty Realty · 2 researched 911.60 ▲ +0.40% 38.7 WATCH
Energy & Power Nifty Energy · 1 researched 38,252.20 ▲ +0.26% 14.8 ACCUMULATE
Financial Services Nifty Financial Services · 1 researched 26,261.00 ▲ +0.22% 16.1 WATCH
Pharmaceuticals Nifty Pharma · 7 researched 26,359.75 ▼ -0.21% 40.8 AVOID
Healthcare & Hospitals Nifty Healthcare Index · 7 researched 16,423.90 ▼ -0.25% 43.0 AVOID
Information Technology Nifty IT · 4 researched 30,532.25 ▼ -0.46% 19.5 ACCUMULATE
Hospitality & Tourism Nifty India Tourism · 2 researched 8,007.90 ▼ -0.53% 90.3 WATCH
Automobiles Nifty Auto · 5 researched 29,124.60 ▼ -0.60% 33.8 AVOID
FMCG Nifty FMCG · 3 researched 47,510.95 ▼ -0.74% 33.0 ACCUMULATE

Index P/E from NSE's official daily index file.

Movers in the universe

Largest moves among the 1992 tracked names this session, against the 2026-08-20 close.

CompanyCallPrev CloseMove
Virat Industries Ltd VIRAT AVOID ₹334.75 ₹401.70 ▲ +20.00%
Quadrant Future Tek Ltd QUADFUTURE AVOID ₹337.80 ₹405.35 ▲ +20.00%
Shanthi Gears Ltd SHANTIGEAR HOLD ₹386.90 ₹464.25 ▲ +19.99%
Nandan Denim Ltd NDL AVOID ₹2.26 ₹2.71 ▲ +19.91%
Allcargo Logistics Ltd ALLCARGO AVOID ₹10.51 ₹12.17 ▲ +15.79%
Shah Metacorp Ltd SHAH AVOID ₹3.95 ₹3.33 ▼ -15.70%
Kwality Pharmaceuticals Ltd KPL HOLD ₹3,630.30 ₹3,361.10 ▼ -7.42%
Himadri Speciality Chemical Ltd HSCL HOLD ₹704.20 ₹654.40 ▼ -7.07%
KSE Ltd KSE HOLD ₹196.80 ₹183.84 ▼ -6.59%
Elitecon International Ltd ELITECON HOLD ₹16.79 ₹15.70 ▼ -6.49%

Set aside as undetermined: GOODLUCK (▼ -65.90%). A move this large over one session is usually a bonus, split or demerger rather than a price change, and a close-only series cannot tell the two apart — so it is neither listed as a mover nor quietly dropped.

Calls this session

A change to anything but AVOID publishes only after two consecutive sessions say the same thing; AVOID publishes at once.

Published on this close (108)

new
Good business, bad price today (Value 1/5) — PEG 1.74; P/E cheaper than 12% of sector peers (P/E 43.86); EV/EBITDA 28.5, B/M 0.15. Watch for a better entry.
new
Average rating 3.75/5 including quality and value — the rare combination.
new
Good business, bad price today (Value 1/5) — PEG 1.41; P/E cheaper than 7% of sector peers (P/E 45.18); EV/EBITDA 31.9, B/M 0.088. Watch for a better entry.
new
Mixed signal (avg 3.67/5 across available lenses) — no strong edge either way.
new
Good business, bad price today (Value 2/5) — PEG 0.79; P/E cheaper than 35% of sector peers (P/E 18.31); B/M 0.371. Watch for a better entry.
new
Average rating 3.75/5 including quality and value — the rare combination.
new
Mixed signal (avg 2.5/5 across available lenses) — no strong edge either way.
new
Average rating 3.75/5 including quality and value — the rare combination.
new
Good business, bad price today (Value 2/5) — PEG 3.68; P/E cheaper than 41% of sector peers (P/E 40.12); EV/EBITDA 30.4, B/M 0.099. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 3.0; P/E cheaper than 84% of sector peers (P/E 21.03); EV/EBITDA 14.2, B/M 0.16. Watch for a better entry.
new
Mixed signal (avg 3.71/5 across available lenses) — no strong edge either way.
new
Good business, bad price today (Value 2/5) — PEG 1.81; P/E cheaper than 40% of sector peers (P/E 37.91); EV/EBITDA 46.8, B/M 0.114. Watch for a better entry.

and 96 more.

Awaiting a second session (24)

→ HOLD if it holds
Mixed signal (avg 3.5/5 across available lenses) — no strong edge either way.
→ HOLD if it holds
Mixed signal (avg 3.33/5 across available lenses) — no strong edge either way.
→ QUALITY-WAIT if it holds
Good business, bad price today (Value 2/5) — PEG 1.67; P/E cheaper than 40% of sector peers (P/E 26.38); EV/EBITDA 27.0, B/M 0.15. Watch for a better entry.
→ HOLD if it holds
Mixed signal (avg 3.33/5 across available lenses) — no strong edge either way.
→ QUALITY-WAIT if it holds
Good business, bad price today (Value 1/5) — PEG n/a; P/E cheaper than 22% of sector peers (P/E 42.61); EV/EBITDA 27.1, B/M 0.101. Watch for a better entry.
→ HOLD if it holds
Mixed signal (avg 3.33/5 across available lenses) — no strong edge either way.
→ HOLD if it holds
Mixed signal (avg 2.5/5 across available lenses) — no strong edge either way.
→ QUALITY-WAIT if it holds
Good business, bad price today (Value 2/5) — PEG 1.14; P/E cheaper than 33% of sector peers (P/E 28.51); EV/EBITDA 10.2, B/M 0.675. Watch for a better entry.
→ QUALITY-WAIT if it holds
Good business, bad price today (Value 2/5) — PEG 4.38; P/E cheaper than 57% of sector peers (P/E 45.52); EV/EBITDA 28.2, B/M 0.216. Watch for a better entry.
→ BUY if it holds
Average rating 4.0/5 including quality and value — the rare combination.
→ HOLD if it holds
Mixed signal (avg 3.67/5 across available lenses) — no strong edge either way.
→ QUALITY-WAIT if it holds
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 40% of sector peers (P/E 38.7); EV/EBITDA 29.7, B/M 0.257. Watch for a better entry.

and 12 more.

Top Stories

No narrative was written for this session. Stories, and the news catalyst input to the sector stances, come from the morning research agent; when it has not run, the stances below renormalise over their three remaining inputs rather than assuming a neutral headline.

Sector Scorecard

Entry score is 40% cheap-vs-history + 25% quality trend + 15% technicals, renormalised over those three — the 20% news catalyst is not counted because no research was written for this session. It is not treated as neutral; it is absent. ≥62 accumulate · 45–61 watch · <45 avoid.

SectorStanceEntryCheap QualityTechNews IndexIdx P/EB/W/H/A
Information Technology 10 scanned · 4 researched ACCUMULATE 68.1 61.0 93.2 45.3 ▼ -0.46% 19.5 2/4/4/0
Banks 40 scanned · 3 researched AVOID 38.4 20.1 52.3 64.0 ▲ +0.46% 13.7 10/1/24/5
Pharmaceuticals 20 scanned · 7 researched AVOID 39.9 7.9 75.2 66.7 ▼ -0.21% 40.8 1/9/9/1
Automobiles 15 scanned · 5 researched AVOID 39.5 7.0 76.0 65.4 ▼ -0.60% 33.8 2/6/5/2
FMCG 15 scanned · 3 researched ACCUMULATE 84.7 94.3 94.7 42.2 ▼ -0.74% 33.0 1/7/7/0
Metals & Mining 15 scanned · 3 researched AVOID 44.3 12.9 77.1 73.4 ▲ +0.86% 16.0 4/3/6/2
Realty 10 scanned · 2 researched WATCH 52.5 39.1 60.4 75.2 ▲ +0.40% 38.7 1/2/3/4
Energy & Power 40 scanned · 1 researched ACCUMULATE 62.5 60.0 69.2 57.7 ▲ +0.26% 14.8 7/4/15/14
Financial Services 94 scanned · 5 ranked elsewhere · 1 researched WATCH 47.8 58.9 23.1 59.1 ▲ +0.22% 16.1 9/1/63/21
Healthcare & Hospitals 20 scanned · 16 ranked elsewhere · 7 researched AVOID 43.3 13.4 77.9 65.3 ▼ -0.25% 43.0 1/7/11/1
Hospitality & Tourism 15 scanned · 2 researched WATCH 60.2 52.7 71.3 61.6 ▼ -0.53% 90.3 4/4/3/4
Diversified & Other 2000 scanned · 273 ranked elsewhere · 32 researched WATCH 55.4 50.0 62.2 58.6 274/237/881/608

Source: data/verdicts.json × NSE sector index closes.

How We Evaluate

MetricWhy it is in the frameworkSource
Return on capital, level and trendDurable high ROCE predicts future returns; the trend separates a moat from a good year Novy-Marx 2013 JFE
Gross profitability (GP/assets)As predictive as book-to-market, and less prone to the value trap Novy-Marx 2013 JFE
Piotroski F-scoreA nine-signal accounting checklist that separates real improvers from statistically cheap traps Piotroski 2000 JAR
Cash-flow-to-net-profitAccrual-heavy profit reverts; cash-backed profit persists Sloan 1996 TAR
P/E versus the stock's own historyCheap relative to itself, not to a peer set that may be expensive as a whole Basu 1977 JF
Book-to-marketThe value premium, in its original form Fama–French 1992 JF
EV/EBITDACapital-structure-neutral, so it compares a leveraged firm to an unleveraged one Practitioner standard
Altman Z and interest coverageDistressed firms have delivered lower, not higher, returns — screen them out rather than chase them Altman 1968 JF; Campbell/Hilscher/Szilagyi 2008 JF
52-week-high proximity, 200-DMANearness to the high has predicted continuation — but momentum crashes, so never alone George & Hwang 2004 JF; Daniel & Moskowitz 2016 JFE
Promoter pledgePledged promoter holding is a governance red flag ahead of a forced sale Not currently available from either source — no penalty is applied

Full derivation in METHODOLOGY.md.