The Close

The Long Desk

The Close · The Open · The Long Desk · Archive · Research
Wed, 9 Sep 2026
1438 companies · 1459 sector slots · 21 sectors · 12 below Rs1000cr and not scanned · long-term lens

Trend Spotlight computed

Information Technology lagged the market: ▼ -3.24% on Nifty IT, closing 28,913.95.

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 WATCH, which is a valuation-and-quality reading and does not move with one session.

Market Overview

IndexClosePoints ChangeP/EP/B
Nifty 50 23,431.50 ▼ -203.60 ▼ -0.86% 19.81 2.83
Nifty Next 50 72,853.85 ▼ -96.80 ▼ -0.13% 19.26 3.24
Nifty 500 22,958.75 ▼ -147.35 ▼ -0.64% 22.25 3.19
Nifty Bank 56,295.55 ▼ -482.00 ▼ -0.85% 13.32 1.69
NIFTY Midcap 100 62,592.80 ▼ -323.00 ▼ -0.51% 30.17 4.31
▲ 937 advancing ■ 35 unchanged ▼ 1669 declining of 2641 equities, vs the 2026-09-08 close

FII/DII cash flows have not published for this session yet — NSE releases them later in the evening, after this report goes out. They appear in tomorrow morning's Open. No figure is shown here rather than the previous session's.

FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20260909 (levels, index P/E and P/B) and the full-market bhavcopy (breadth).

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

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. Sectors with no listed NSE index show — for the session columns; the stance still applies.

SectorIndexSession Idx P/EStance
Metals & Mining Nifty Metal · 8 researched 13,391.40 ▲ +1.79% 16.3 AVOID
Energy & Power Nifty Energy · 11 researched 38,333.65 ▲ +0.63% 14.9 WATCH
Hospitality & Tourism Nifty India Tourism · 6 researched 7,787.65 ▼ -0.03% 87.8 WATCH
Healthcare & Hospitals Nifty Healthcare Index · 3 researched 16,581.15 ▼ -0.26% 43.5 WATCH
Automobiles Nifty Auto · 21 researched 27,653.35 ▼ -0.44% 32.1 WATCH
Pharmaceuticals Nifty Pharma · 11 researched 26,691.80 ▼ -0.70% 41.3 AVOID
Banks Nifty Bank · 13 researched 56,295.55 ▼ -0.85% 13.3 AVOID
FMCG Nifty FMCG · 4 researched 45,309.25 ▼ -0.96% 31.4 WATCH
Financial Services Nifty Financial Services · 5 researched 25,376.80 ▼ -1.24% 15.6 WATCH
Realty Nifty Realty · 5 researched 872.20 ▼ -2.23% 37.0 WATCH
Information Technology Nifty IT · 16 researched 28,913.95 ▼ -3.24% 18.4 WATCH
Capital Goods no listed index · 7 researched WATCH
Chemicals no listed index · 3 researched WATCH
Commercial Services no listed index · 3 researched WATCH
Construction & Materials no listed index · 6 researched WATCH
Diversified & Other no listed index · 1 researched WATCH
Packaging & Plastics no listed index WATCH
Retail & Consumer no listed index · 1 researched WATCH
Telecom & Media no listed index · 2 researched WATCH
Textiles & Apparel no listed index · 2 researched WATCH
Logistics & Transport no listed index · 1 researched AVOID

Movers in the universe

Largest moves among the 1433 tracked names this session, against the 2026-09-08 close.

CompanyCallPrev CloseMove
Novartis India Ltd NOVARTIND HOLD ₹1,822.00 ₹2,186.40 ▲ +20.00%
Bhartiya International Ltd BIL AVOID ₹936.85 ₹1,108.20 ▲ +18.29%
India Nippon Electricals Ltd INDNIPPON HOLD ₹1,122.30 ₹1,313.30 ▲ +17.02%
Graphite India Ltd GRAPHITE HOLD ₹734.25 ₹844.65 ▲ +15.04%
Indo Rama Synthetics (India) Ltd INDORAMA HOLD ₹74.98 ₹86.13 ▲ +14.87%
GSP Crop Science Ltd GSPCROP HOLD ₹531.00 ₹491.35 ▼ -7.47%
Kiri Industries Ltd KIRIINDUS AVOID ₹588.10 ₹550.75 ▼ -6.35%
XPRO India Ltd XPROINDIA HOLD ₹1,389.70 ₹1,301.40 ▼ -6.35%
Aeroflex Enterprises Ltd AEROENTER HOLD ₹152.65 ₹142.95 ▼ -6.35%
Bajaj Hindusthan Sugar Ltd BAJAJHIND AVOID ₹22.66 ₹21.35 ▼ -5.78%

Calls this session

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

Sector stance changed (3)

Published this session (18)

new
Good business, bad price today (Value 1/5) — PEG n/a; P/E cheaper than 3% of sector peers (P/E 93.64); EV/EBITDA 34.6, B/M 0.101. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 1.52; P/E cheaper than 33% of sector peers (P/E 35.78); EV/EBITDA 19.6, B/M 0.113. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 4.72; P/E cheaper than 38% of sector peers (P/E 37.27); EV/EBITDA 20.2, B/M 0.239. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 56% of sector peers (P/E 36.34); EV/EBITDA 25.2, B/M 0.162. Watch for a better entry.
new
Good business, bad price today (Value 1/5) — PEG 1.68; P/E cheaper than 0% of sector peers (P/E 17.31); EV/EBITDA 13.9, B/M 0.102. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 39% of sector peers (P/E 36.45); EV/EBITDA 18.1, B/M 0.19. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 50% of sector peers (P/E 54.8); EV/EBITDA 34.8, B/M 0.112. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 0.71; P/E cheaper than 59% of sector peers (P/E 48.37); EV/EBITDA 30.1, B/M 0.167. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 38% of sector peers (P/E 35.57); EV/EBITDA 13.5, B/M 0.157. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 4.67; P/E cheaper than 94% of sector peers (P/E 22.41); EV/EBITDA 13.7, B/M 0.337. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 26% of sector peers (P/E 33.04); EV/EBITDA 17.2, B/M 0.3. Watch for a better entry.
new
Good business, bad price today (Value 1/5) — PEG 1.22; P/E cheaper than 34% of sector peers (P/E 33.41); EV/EBITDA 26.1, B/M 0.193. Watch for a better entry.

and 6 more — full list on the site.

Awaiting a second session (10)

TickerClosePublished PendingNote
AEGISLOG ₹1,343.40 HOLD QUALITY-WAIT if next session holds
ANTELOPUS ₹1,169.40 HOLD QUALITY-WAIT if next session holds
BDL ₹1,218.10 QUALITY-WAIT HOLD if next session holds
BHEL ₹433.70 HOLD QUALITY-WAIT if next session holds
BLUEJET ₹575.30 HOLD QUALITY-WAIT if next session holds
EIEL ₹206.06 AVOID HOLD if next session holds
FOSECOIND ₹6,080.00 QUALITY-WAIT HOLD if next session holds
ICICIBANK ₹1,389.10 QUALITY-WAIT HOLD if next session holds
RACLGEAR ₹1,633.90 HOLD QUALITY-WAIT if next session holds
SUNDARMFIN ₹4,728.00 AVOID HOLD if next session holds

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 75 scanned · 16 researched WATCH 61.9 62.7 78.5 32.0 ▼ -3.24% 18.4 0/9/59/7
Banks 40 scanned · 13 researched AVOID 44.8 32.6 52.3 64.8 ▼ -0.85% 13.3 0/1/30/9
Pharmaceuticals 85 scanned · 11 researched AVOID 42.9 16.6 72.0 64.4 ▼ -0.70% 41.3 0/18/56/11
Automobiles 109 scanned · 21 researched WATCH 47.4 21.5 78.6 64.6 ▼ -0.44% 32.1 0/21/77/11
FMCG 106 scanned · 4 researched WATCH 57.4 52.4 68.3 52.7 ▼ -0.96% 31.4 0/21/67/18
Metals & Mining 83 scanned · 8 researched AVOID 44.8 22.4 67.9 65.8 ▲ +1.79% 16.3 0/11/55/17
Realty 38 scanned · 5 researched WATCH 54.4 51.4 52.0 66.4 ▼ -2.23% 37.0 0/1/17/20
Energy & Power 83 scanned · 11 researched WATCH 54.3 46.1 63.4 61.0 ▲ +0.63% 14.9 0/6/44/33
Financial Services 149 scanned · 5 ranked elsewhere · 5 researched WATCH 51.8 52.8 43.9 62.4 ▼ -1.24% 15.6 0/5/95/49
Healthcare & Hospitals 58 scanned · 16 ranked elsewhere · 3 researched WATCH 46.9 23.8 73.8 63.8 ▼ -0.26% 43.5 0/15/38/5
Hospitality & Tourism 38 scanned · 6 researched WATCH 59.1 60.8 67.4 40.6 ▼ -0.03% 87.8 0/4/24/10
Chemicals 100 scanned · 3 researched WATCH 57.8 50.0 68.5 61.0 0/13/63/24
Construction & Materials 127 scanned · 6 researched WATCH 60.2 66.6 60.8 42.4 0/12/72/43
Capital Goods 103 scanned · 7 researched WATCH 50.5 27.0 78.5 66.4 0/15/75/13
Textiles & Apparel 47 scanned · 2 researched WATCH 50.0 38.0 62.6 61.0 0/5/30/12
Retail & Consumer 67 scanned · 1 researched WATCH 58.5 50.0 68.4 64.8 0/9/40/18
Packaging & Plastics 34 scanned WATCH 51.3 35.7 64.7 70.7 0/4/22/8
Logistics & Transport 25 scanned · 1 researched AVOID 44.6 23.2 67.6 63.4 0/3/15/7
Telecom & Media 29 scanned · 2 researched WATCH 52.9 50.0 60.2 48.4 0/1/17/11
Commercial Services 31 scanned · 3 researched WATCH 58.9 59.5 52.8 67.6 0/3/15/13
Diversified & Other 32 scanned · 1 researched WATCH 48.6 36.0 59.7 63.5 0/3/17/12

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

Stocks to Watch

Split evenly across large/mid/small/micro cap so this list isn't one tier's picks — new calls first, then the highest long-term composites within each. Micro-cap names are boxed and flagged Highly Volatile — worth watching, not a call to buy — since their price swings run about twice every other tier's. Each card shows the figures that selected it — open the desk for the full six-lens panel.

new call this session
P/E in the 0th percentile of its own 3-year range · ROCE 44.8% (up 9.8pt over 5y)
Composite 81.4 Mkt Cap 53,604 cr · Large P/E 33.16 ROCE 44.8% Piotroski 5/8
new call this session
ROCE 56.5% (up 7.5pt over 5y)
Composite 81.0 Mkt Cap 112,565 cr · Large P/E 36.41 ROCE 56.5% Piotroski 5/9
new call this session
P/E in the 2th percentile of its own 3-year range · ROCE 15.2% (up 7.2pt over 5y) · -32.6% off its 52-week high
Composite 81.2 Mkt Cap 48,549 cr · Mid P/E 54.39 ROCE 15.2% Piotroski 6/9
new call this session
P/E in the 66th percentile of its own 3-year range · ROCE 42.4% (up 51.4pt over 5y)
Composite 74.2 Mkt Cap 17,103 cr · Mid P/E 35.92 ROCE 42.4% Piotroski 6/9
new call this session
P/E in the 1th percentile of its own 3-year range
Composite 85.5 Mkt Cap 9,327 cr · Small P/E 35.03 ROCE 89.9% Piotroski 6/8
new call this session
P/E in the 33th percentile of its own 3-year range · ROCE 11.4% (up 3.4pt over 5y)
Composite 77.9 Mkt Cap 10,709 cr · Small P/E 33.69 ROCE 11.4% Piotroski 6/9
new call this session
Highly Volatile
ROCE 40.4% (up 33.4pt over 5y) · Piotroski 7/8
Composite 77.0 Mkt Cap 3,884 cr · Micro P/E 39.11 ROCE 40.4% Piotroski 7/8
new call this session
Highly Volatile
Piotroski 8/9
Composite 75.5 Mkt Cap 2,232 cr · Micro P/E 21.54 ROCE 35.3% Piotroski 8/9

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.