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The Close · The Open · The Long Desk · Archive · Research · Top Stocks
Wed, 21 Oct 2026
1396 companies · 1417 sector slots · 20 sectors · 53 below Rs1000cr and not scanned · long-term lens

Trend Spotlight computed

Information Technology led the market: ▲ +2.88% on Nifty IT, closing 32,422.50.

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 22,811.35 ▼ -77.60 ▼ -0.34% 19.26 2.80
Nifty Next 50 67,655.30 ▼ -1,040.55 ▼ -1.51% 17.65 3.25
Nifty 500 21,837.90 ▼ -203.70 ▼ -0.92% 21.30 3.06
Nifty Bank 54,976.90 ▼ -511.20 ▼ -0.92% 12.70 1.66
NIFTY Midcap 100 57,565.85 ▼ -922.10 ▼ -1.58% 26.91 3.66
▲ 334 advancing ■ 19 unchanged ▼ 2335 declining of 2688 equities, vs the 2026-10-19 close
Cash market, ₹ crore
FII / FPI net
▲ +1,022.32
bought 17,004 · sold 15,982
DII net
▲ +1,614.32
bought 14,932 · sold 13,317
FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20261021 (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
Information Technology Nifty IT · 13 researched 32,422.50 ▲ +2.88% 20.1 WATCH
Pharmaceuticals Nifty Pharma · 24 researched 25,565.90 ▼ -0.19% 39.5 WATCH
Healthcare & Hospitals Nifty Healthcare Index · 11 researched 15,507.15 ▼ -0.32% 40.4 WATCH
FMCG Nifty FMCG · 10 researched 43,720.70 ▼ -0.58% 30.2 ACCUMULATE
Banks Nifty Bank · 5 researched 54,976.90 ▼ -0.92% 12.7 WATCH
Financial Services Nifty Financial Services · 10 researched 24,691.45 ▼ -1.18% 14.9 WATCH
Realty Nifty Realty · 2 researched 805.85 ▼ -1.25% 34.1 WATCH
Energy & Power Nifty Energy · 11 researched 35,474.75 ▼ -1.39% 14.0 WATCH
Automobiles Nifty Auto · 30 researched 25,196.65 ▼ -1.54% 29.3 WATCH
Hospitality & Tourism Nifty India Tourism · 8 researched 7,371.15 ▼ -1.69% 83.9 ACCUMULATE
Metals & Mining Nifty Metal · 15 researched 11,859.55 ▼ -1.71% 15.6 WATCH
Chemicals no listed index · 6 researched — — — ACCUMULATE
Construction & Materials no listed index · 10 researched — — — ACCUMULATE
Capital Goods no listed index · 16 researched — — — WATCH
Commercial Services no listed index · 5 researched — — — WATCH
Logistics & Transport no listed index · 6 researched — — — WATCH
Packaging & Plastics no listed index · 2 researched — — — WATCH
Retail & Consumer no listed index · 5 researched — — — WATCH
Telecom & Media no listed index · 3 researched — — — WATCH
Textiles & Apparel no listed index · 5 researched — — — WATCH

Movers in the universe

Largest moves among the 1389 tracked names this session, against the 2026-10-19 close.

CompanyCallPrev CloseMove
India Cements Ltd INDIACEM AVOID ₹294.35 ₹329.80 ▲ +12.04%
L&T Technology Services Ltd LTTS HOLD ₹3,611.30 ₹3,996.30 ▲ +10.66%
Fractal Analytics Ltd FRACTAL HOLD ₹713.45 ₹785.90 ▲ +10.15%
Uttam Sugar Mills Ltd UTTAMSUGAR HOLD ₹360.25 ₹388.85 ▲ +7.94%
Ipca Laboratories Ltd IPCALAB HOLD ₹1,814.50 ₹1,918.90 ▲ +5.75%
eMudhra Ltd EMUDHRA HOLD ₹540.00 ₹432.00 ▼ -20.00%
Fischer Medical Ventures Ltd FISCHER AVOID ₹28.27 ₹25.13 ▼ -11.11%
Himadri Speciality Chemical Ltd HSCL HOLD ₹605.85 ₹539.25 ▼ -10.99%
Waaree Renewable Technologies Ltd WAAREERTL HOLD ₹826.20 ₹743.25 ▼ -10.04%
Wheels India Ltd WHEELS QUALITY-WAIT ₹2,439.40 ₹2,195.50 ▼ -10.00%

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 (1)

Published this session (6)

new
unconfirmed: business, sector
Unconfirmed: business, sector not checked — Weighted average rating 4.3/5 including quality and value — the rare combination.
new
unconfirmed: sector, news
Unconfirmed: sector, news not checked — Weighted average rating 3.77/5 including quality and value — the rare combination.
new
unconfirmed: sector, news
Unconfirmed: sector, news not checked — Weighted average rating 3.93/5 including quality and value — the rare combination.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 22% of sector peers (P/E 37.47); EV/EBITDA 24.0, B/M 0.274. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG n/a; P/E cheaper than 34% of sector peers (P/E 37.08); EV/EBITDA 22.8, B/M 0.234. Watch for a better entry.
new
Good business, bad price today (Value 2/5) — PEG 106.52; P/E cheaper than 43% of sector peers (P/E 53.26); EV/EBITDA 27.7, B/M 0.137. Watch for a better entry.

Awaiting a second session (24)

TickerClosePublished PendingNote
CHALET ₹829.20 BUY → QUALITY-WAIT if next session holds
CUMMINSIND ₹4,440.00 QUALITY-WAIT → HOLD if next session holds
DOLPHIN ₹595.80 QUALITY-WAIT → HOLD if next session holds
ECLERX ₹1,928.70 QUALITY-WAIT → HOLD if next session holds
ELLEN ₹319.65 AVOID → HOLD if next session holds
ENGINERSIN ₹259.95 QUALITY-WAIT → BUY if next session holds
FINEORG ₹5,124.00 QUALITY-WAIT → HOLD if next session holds
FSL ₹284.25 HOLD → QUALITY-WAIT if next session holds
GATEWAY ₹47.98 QUALITY-WAIT → HOLD if next session holds
GODREJAGRO ₹619.70 QUALITY-WAIT → HOLD if next session holds
HBLENGINE ₹786.60 QUALITY-WAIT → HOLD if next session holds
IKS ₹1,631.70 QUALITY-WAIT → HOLD if next session holds
INTERARCH ₹1,559.80 HOLD → QUALITY-WAIT if next session holds
JLHL ₹246.45 BUY → QUALITY-WAIT if next session holds
KENNAMET ₹3,823.90 QUALITY-WAIT → HOLD if next session holds
LUMAXIND ₹5,325.00 BUY → HOLD if next session holds
MARSONS ₹120.53 QUALITY-WAIT → HOLD if next session holds
NIACL ₹168.78 AVOID → HOLD if next session holds
ROLEXRINGS ₹159.21 QUALITY-WAIT → HOLD if next session holds
SHRIPISTON ₹4,476.20 QUALITY-WAIT → BUY if next session holds
STYLAMIND ₹3,141.10 QUALITY-WAIT → BUY if next session holds
SYRMA ₹1,473.10 QUALITY-WAIT → HOLD if next session holds
TITAN ₹4,380.90 QUALITY-WAIT → HOLD if next session holds
WSTCSTPAPR ₹775.00 HOLD → BUY 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 74 scanned · 13 researched WATCH 60.6 61.5 78.6 28.4 — ▲ +2.88% 20.1 0/9/56/9
Banks 40 scanned · 5 researched WATCH 51.4 50.0 52.3 53.8 — ▼ -0.92% 12.7 1/0/30/9
Pharmaceuticals 87 scanned · 24 researched WATCH 49.6 30.0 71.8 65.0 — ▼ -0.19% 39.5 0/12/63/12
Automobiles 107 scanned · 30 researched WATCH 58.6 50.0 78.6 48.0 — ▼ -1.54% 29.3 10/16/71/10
FMCG 103 scanned · 10 researched ACCUMULATE 63.1 67.4 69.0 41.8 — ▼ -0.58% 30.2 0/20/63/20
Metals & Mining 80 scanned · 15 researched WATCH 55.3 50.9 68.0 45.9 — ▼ -1.71% 15.6 0/6/54/20
Realty 37 scanned · 2 researched WATCH 59.1 74.0 52.0 31.2 — ▼ -1.25% 34.1 2/2/13/20
Energy & Power 83 scanned · 11 researched WATCH 60.4 64.0 63.7 45.2 — ▼ -1.39% 14.0 4/5/41/33
Financial Services 146 scanned · 5 ranked elsewhere · 10 researched WATCH 58.7 73.4 44.2 43.9 — ▼ -1.18% 14.9 0/3/92/51
Healthcare & Hospitals 57 scanned · 16 ranked elsewhere · 11 researched WATCH 59.0 51.2 73.0 56.6 — ▼ -0.32% 40.4 4/10/37/6
Hospitality & Tourism 38 scanned · 8 researched ACCUMULATE 69.1 81.9 69.0 35.3 — ▼ -1.69% 83.9 3/5/20/10
Chemicals 101 scanned · 6 researched ACCUMULATE 64.5 70.5 67.8 43.0 — — — 3/10/60/28
Construction & Materials 124 scanned · 10 researched ACCUMULATE 65.2 79.0 61.6 34.6 — — — 4/12/68/40
Capital Goods 102 scanned · 16 researched WATCH 57.8 47.4 79.3 49.6 — — — 0/14/68/20
Textiles & Apparel 47 scanned · 5 researched WATCH 56.4 50.0 62.6 63.0 — — — 0/3/30/14
Retail & Consumer 64 scanned · 5 researched WATCH 59.8 58.8 68.7 48.1 — — — 0/9/37/18
Packaging & Plastics 31 scanned · 2 researched WATCH 58.1 54.5 65.4 55.6 — — — 1/3/18/9
Logistics & Transport 26 scanned · 6 researched WATCH 50.5 42.1 69.3 41.6 — — — 0/3/17/6
Telecom & Media 33 scanned · 3 researched WATCH 51.9 50.0 59.8 43.8 — — — 3/2/14/14
Commercial Services 37 scanned · 5 researched WATCH 49.2 50.0 52.5 41.4 — — — 0/1/21/15

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 11th percentile of its own 3-year range · ROCE 36.4% (up 8.4pt over 5y) · Piotroski 8/9
Composite 78.7 Mkt Cap 271,410 cr · Large P/E 44.2 ROCE 36.4% Piotroski 8/9
new call this session
P/E in the 13th percentile of its own 3-year range · ROCE 21.9% (down 5.1pt over 5y)
Composite 69.9 Mkt Cap 81,937 cr · Large P/E 33.79 ROCE 21.9% Piotroski 4/8
new call this session
P/E in the 18th percentile of its own 3-year range · ROCE 32.7% (up 19.7pt over 5y)
Composite 83.0 Mkt Cap 39,995 cr · Mid P/E 23.98 ROCE 32.7% Piotroski 6/9
new call this session
ROCE 44.6% (up 36.6pt over 5y) · Piotroski 7/9 · -30.2% off its 52-week high
Composite 72.7 Mkt Cap 17,646 cr · Mid P/E 13.83 ROCE 44.6% Piotroski 7/9
new call this session
P/E in the 0th percentile of its own 3-year range · ROCE 83.2% (up 77.2pt over 5y) · -44.1% off its 52-week high
Composite 84.0 Mkt Cap 7,756 cr · Small P/E 15.25 ROCE 83.2% Piotroski 4/9
new call this session
unconfirmed: sector, news
P/E in the 7th percentile of its own 3-year range · ROCE 11.4% (up 3.4pt over 5y)
Composite 82.8 Mkt Cap 9,512 cr · Small P/E 29.94 ROCE 11.4% Piotroski 6/9
new call this session
Highly Volatile
P/E in the 15th percentile of its own 3-year range · ROCE 34.5% (up 9.5pt over 5y) · -29.6% off its 52-week high
Composite 80.7 Mkt Cap 4,744 cr · Micro P/E 14.15 ROCE 34.5% Piotroski 4/9
new call this session
Highly Volatile
P/E in the 66th percentile of its own 3-year range
Composite 60.4 Mkt Cap 2,915 cr · Micro P/E 25.4 ROCE 9.61% Piotroski 3/9

Lens Weights Recalibrated

Every Sunday, each lens's weight is re-tilted from its prior on all evidence to date of whether its ratings predicted subsequent returns, measured separately within each cap tier (data/lens_ic.json). Thin evidence moves a weight a little, a consistent edge more -- see METHODOLOGY.md. Every past change stays on the record in data/lens_weight_changes.json.

TierLensWeightt-stat Hit rateWeeks measured
Large Quality 1.3442 → 1.5087 0.023248%9.2
Large Financial Health 1.91 → 1.9008 1.192763%9.2
Large Value 1.0512 → 1.1731 -0.089852%9.2
Large Earnings Quality 1.3139 → 1.2507 1.102163%9.2
Large Growth Outlook 0.7981 → 0.6895 -0.567467%5.4
Large Momentum 0.6029 → 0.5489 0.396563%9.2
Mid Quality 1.3663 → 1.3577 -0.384257%9.2
Mid Financial Health 1.9321 → 1.8357 0.963561%9.2
Mid Value 1.1381 → 1.2545 0.182143%9.2
Mid Earnings Quality 0.9127 → 0.9696 -0.121848%9.2
Mid Growth Outlook 0.5795 → 0.5947 -1.134375%2.4
Mid Momentum 0.6902 → 0.6083 0.927470%9.2
Small Quality 1.8341 → 1.9593 1.425462%7.4
Small Financial Health 1.6513 → 1.7853 0.801154%7.4
Small Value 1.0405 → 1.2492 0.164549%7.4
Small Earnings Quality 0.7647 → 0.8067 -0.815554%7.4
Small Growth Outlook 0.9895 → 0.9206 0.622658%3.8
Small Momentum 0.7136 → 0.6417 1.285770%7.4
Micro Quality 1.9961 → 1.8884 1.146968%7.4
Micro Financial Health 1.8473 → 1.8138 0.891457%7.4
Micro Value 1.0396 → 1.2056 0.018849%7.4
Micro Earnings Quality 0.9775 → 1.0226 0.090651%7.4
Micro Growth Outlook 0.6162 → 0.5586 -1.397583%4.6
Micro Momentum 0.7275 → 0.7087 2.407181%7.4

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.