M&M and Cement Stocks Surge on Tax Cut Buzz, Glenmark Drags on Profit Fall
Written by - Fisdom Research
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August 18, 2025
2 minutes
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Market Snapshot
Benchmark equity indices extended gains for the third straight session on August 18.
Cooling oil prices after Trump-Putin talks, an S&P sovereign rating upgrade for India, and expectations of GST rate rationalisation by October boosted sentiment.
Sectoral performance was largely positive with auto up 4%, consumer durables up 3%, and realty up 2%.
Metals, FMCG, telecom, and private banks gained 1–2%.
IT, media, and power were the only sectors to end in the red.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY AUTO
4.2
NIFTY FMCG
1.2
NIFTY CONSUMER DURABLES
3.4
NIFTY PRIVATE BANK
1.0
NIFTY REALTY
2.2
NIFTY PSU BANK
0.4
NIFTY METAL
1.9
NIFTY OIL & GAS
0.2
Top News
Mahindra & Mahindra surged 5% and lifted the Nifty Auto index by 4% on hopes of GST cuts for two-wheelers, compact cars, and hybrids.
Cement stocks gained up to 5% on expectations that GST rates could be reduced from 28% to 18%, potentially transforming sector dynamics.
Glenmark Pharmaceuticals tumbled after reporting an 86% YoY drop in Q1FY26 net profit to ₹46.8 crore, even as revenue remained flat with slight recovery in North America.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
MARUTI
8.9
ITC
-1.5
HEROMOTOCO
6.0
ETERNAL
-1.4
NESTLEIND
5.2
TECHM
-1.1
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,450
24,800
Bank Nifty
54,800
55,850
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