The Close

The Long Desk

The Close · The Open · The Long Desk · Archive · Research
Wed, 2 Sep 2026
1438 companies · 1459 sector slots · 21 sectors · 12 below Rs1000cr and not scanned · long-term lens

Trend Spotlight computed

Automobiles lagged the market: ▼ -1.79% on Nifty Auto, closing 27,981.95.

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 23,914.45 ▼ -141.35 ▼ -0.59% 20.22 2.89
Nifty Next 50 72,947.45 ▲ +72.70 ▲ +0.10% 19.28 3.25
Nifty 500 23,222.80 ▼ -117.10 ▼ -0.50% 22.50 3.23
Nifty Bank 57,172.00 ▼ -237.60 ▼ -0.41% 13.53 1.71
NIFTY Midcap 100 63,001.60 ▼ -332.90 ▼ -0.53% 30.36 4.33
▲ 914 advancing ■ 37 unchanged ▼ 1690 declining of 2641 equities, vs the 2026-09-01 close
Cash market, ₹ crore
FII / FPI net
▲ +6,688.37
bought 26,716 · sold 20,028
DII net
▲ +2,812.98
bought 17,640 · sold 14,827
FII / FPI DII
FII / DII daily net cash flow · ₹ crore · scroll to zoom, drag to pan

Source: NSE ind_close_all_20260902 (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
Energy & Power Nifty Energy · 4 researched 38,028.40 ▲ +0.59% 14.8 WATCH
Realty Nifty Realty · 2 researched 893.15 ▲ +0.21% 37.9 WATCH
Pharmaceuticals Nifty Pharma · 10 researched 26,780.70 ▼ -0.04% 41.5 AVOID
Healthcare & Hospitals Nifty Healthcare Index · 1 researched 16,629.10 ▼ -0.24% 43.6 WATCH
Metals & Mining Nifty Metal · 3 researched 13,157.35 ▼ -0.25% 16.0 WATCH
Hospitality & Tourism Nifty India Tourism · 4 researched 7,792.10 ▼ -0.29% 87.9 WATCH
Banks Nifty Bank · 12 researched 57,172.00 ▼ -0.41% 13.5 AVOID
FMCG Nifty FMCG · 4 researched 46,240.55 ▼ -0.47% 32.1 WATCH
Financial Services Nifty Financial Services · 2 researched 25,813.05 ▼ -0.73% 15.8 WATCH
Information Technology Nifty IT · 14 researched 31,102.90 ▼ -1.25% 19.8 WATCH
Automobiles Nifty Auto · 10 researched 27,981.95 ▼ -1.79% 32.5 WATCH
Capital Goods no listed index · 3 researched WATCH
Chemicals no listed index · 1 researched WATCH
Commercial Services no listed index WATCH
Construction & Materials no listed index WATCH
Diversified & Other no listed index · 1 researched WATCH
Logistics & Transport no listed index · 1 researched WATCH
Packaging & Plastics no listed index WATCH
Retail & Consumer no listed index WATCH
Telecom & Media no listed index WATCH
Textiles & Apparel no listed index · 2 researched WATCH

Movers in the universe

Largest moves among the 1436 tracked names this session, against the 2026-09-01 close.

CompanyCallPrev CloseMove
Antelopus Selan Energy Ltd ANTELOPUS BUY ₹792.65 ₹951.15 ▲ +20.00%
Tribhovandas Bhimji Zaveri Ltd TBZ BUY ₹366.80 ₹418.25 ▲ +14.03%
XPRO India Ltd XPROINDIA HOLD ₹1,135.80 ₹1,285.60 ▲ +13.19%
IFCI Ltd IFCI HOLD ₹87.26 ₹98.32 ▲ +12.67%
Indoco Remedies Ltd INDOCO AVOID ₹243.84 ₹273.77 ▲ +12.27%
R R Kabel Ltd RRKABEL QUALITY-WAIT ₹2,869.80 ₹2,630.40 ▼ -8.34%
Balu Forge Industries Ltd BALUFORGE HOLD ₹621.90 ₹578.40 ▼ -6.99%
Ram Ratna Wires Ltd RAMRAT HOLD ₹570.20 ₹535.10 ▼ -6.16%
Wonder Electricals Ltd WEL HOLD ₹80.84 ₹75.98 ▼ -6.01%
Varroc Engineering Ltd VARROC QUALITY-WAIT ₹877.00 ₹824.40 ▼ -6.00%

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 (2)

Published this session (20)

new
Weighted average rating 2.42/5 across the panel — too many weak lenses to own.
new
Mixed signal (weighted avg 2.53/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 3.46/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 3.49/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 3.72/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 3.61/5 across available lenses) — no strong edge either way.
new
Good business, bad price today (Value 2/5) — PEG 3.24; P/E cheaper than 59% of sector peers (P/E 27.54); EV/EBITDA 16.4, B/M 0.158. Watch for a better entry.
new
Mixed signal (weighted avg 3.55/5 across available lenses) — no strong edge either way.
new
Weighted average rating 2.46/5 across the panel — too many weak lenses to own.
new
Weighted average rating 4.25/5 including quality and value — the rare combination.
new
Mixed signal (weighted avg 3.68/5 across available lenses) — no strong edge either way.
new
Mixed signal (weighted avg 3.69/5 across available lenses) — no strong edge either way.

and 8 more.

Awaiting a second session (18)

TickerClosePublished PendingNote
APTUS ₹254.28 BUY HOLD if next session holds
BANDHANBNK ₹161.52 AVOID HOLD if next session holds
BOSCHLTD ₹47,250.00 QUALITY-WAIT HOLD if next session holds
GREAVESCOT ₹194.20 HOLD BUY if next session holds
GROWW ₹189.88 AVOID HOLD if next session holds
HYUNDAI ₹2,154.40 BUY QUALITY-WAIT if next session holds
KIRLOSENG ₹2,160.90 QUALITY-WAIT HOLD if next session holds
KIRLPNU ₹745.45 BUY QUALITY-WAIT if next session holds
KRSNAA ₹553.10 HOLD BUY if next session holds
LAXMIDENTL ₹194.58 HOLD BUY if next session holds
LTTS ₹3,505.00 BUY HOLD if next session holds
MGL ₹1,065.20 BUY HOLD if next session holds
MSPL ₹36.14 BUY HOLD if next session holds
NIITMTS ₹223.47 HOLD BUY if next session holds
PNBGILTS ₹78.19 AVOID HOLD if next session holds
RHIM ₹370.50 AVOID HOLD if next session holds
STYLAMIND ₹3,264.80 QUALITY-WAIT BUY if next session holds
ZFCVINDIA ₹2,572.20 HOLD QUALITY-WAIT 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 · 14 researched WATCH 61.8 60.8 78.7 36.2 ▼ -1.25% 19.8 15/10/42/8
Banks 40 scanned · 12 researched AVOID 41.6 26.0 52.3 65.4 ▼ -0.41% 13.5 0/0/29/11
Pharmaceuticals 85 scanned · 10 researched AVOID 44.0 18.5 72.0 65.4 ▼ -0.04% 41.5 0/19/56/10
Automobiles 109 scanned · 10 researched WATCH 50.4 26.1 78.3 68.6 ▼ -1.79% 32.5 36/20/41/12
FMCG 106 scanned · 4 researched WATCH 56.4 50.2 68.3 53.1 ▼ -0.47% 32.1 14/21/54/17
Metals & Mining 82 scanned · 3 researched WATCH 48.8 29.6 68.2 67.8 ▼ -0.25% 16.0 16/10/36/20
Realty 38 scanned · 2 researched WATCH 53.9 54.4 52.1 55.6 ▲ +0.21% 37.9 3/2/14/19
Energy & Power 82 scanned · 4 researched WATCH 54.2 45.7 63.6 61.1 ▲ +0.59% 14.8 15/4/32/31
Financial Services 149 scanned · 5 ranked elsewhere · 2 researched WATCH 51.4 51.5 44.5 62.4 ▼ -0.73% 15.8 12/4/81/52
Healthcare & Hospitals 56 scanned · 16 ranked elsewhere · 1 researched WATCH 47.6 23.7 73.8 67.6 ▼ -0.24% 43.6 10/15/25/6
Hospitality & Tourism 37 scanned · 4 researched WATCH 60.1 59.4 69.5 46.4 ▼ -0.29% 87.9 12/7/8/10
Chemicals 100 scanned · 1 researched WATCH 57.6 50.0 68.5 59.9 15/14/47/24
Construction & Materials 125 scanned WATCH 60.8 68.9 62.8 35.8 17/12/60/36
Capital Goods 103 scanned · 3 researched WATCH 49.7 27.2 78.1 62.2 18/18/51/16
Textiles & Apparel 48 scanned · 2 researched WATCH 55.6 49.4 62.0 61.8 11/7/16/14
Retail & Consumer 67 scanned WATCH 57.8 50.0 68.4 61.0 7/10/32/18
Packaging & Plastics 34 scanned WATCH 51.9 36.6 65.3 70.4 8/3/15/8
Logistics & Transport 25 scanned · 1 researched WATCH 47.3 26.6 70.0 64.6 9/3/6/7
Telecom & Media 29 scanned WATCH 51.6 50.0 60.3 41.2 8/1/9/11
Commercial Services 29 scanned WATCH 59.1 62.0 52.8 61.8 4/3/10/12
Diversified & Other 40 scanned · 1 researched WATCH 50.0 40.0 59.5 60.9 2/5/18/15

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

Stocks to Watch

Split 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. Each shows the figures that selected it — open the desk for the full six-lens panel.

new call this session
P/E in the 9th percentile of its own 3-year range · ROCE 35.1% (up 25.1pt over 5y)
Composite 80.8 Mkt Cap 61,798 cr · Large P/E 19.62 ROCE 35.1% Piotroski 5/9
new call this session
P/E in the 34th percentile of its own 3-year range · ROCE 60.3% (up 3.3pt over 5y) · Piotroski 7/8
Composite 75.1 Mkt Cap 18,408 cr · Mid P/E 17.11 ROCE 60.3% Piotroski 7/8
new call this session
P/E in the 38th percentile of its own 3-year range
Composite 78.1 Mkt Cap 5,580 cr · Small P/E 14.29 ROCE 26.2% Piotroski 6/9
new call this session
P/E in the 29th percentile of its own 3-year range · ROCE 8.23% (up 15.2pt over 5y) · -50.2% off its 52-week high
Composite 65.1 Mkt Cap 1,471 cr · Micro P/E 42.28 ROCE 8.23% Piotroski 4/9

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.