Foreign institutional investors were net buyers of Indian equities for a second consecutive session on Tuesday, with net purchases of ₹1,593.53 crore. Domestic institutional investors also stayed on the buying side, recording net purchases of ₹230.26 crore. Nifty ended the August series 1.5% higher at a two-week high after a sharp late-session rebound. Shriram Finance, IndiGo, Vodafone Idea, Paytm and IREDA rose, while Federal Bank slipped 3% on acquisition talk.

With the S&P 500’s second-quarter reporting season nearing its end, a surge in profits tied to AI-related companies has lifted expected year-over-year earnings growth for index constituents to 52%. Technology-sector profits are estimated to have jumped 74%. Excluding gains from stakes in AI companies, second-quarter profit growth would be about 33%, versus 22.3% in the first quarter on the same basis.

Crude oil prices climbed 8% to 9% in August, nearing $92 a barrel, as US-Iran tensions and concerns over supply disruptions in the Strait of Hormuz lifted market worries. Hyundai Motor India said it will raise prices by as much as 1% across its model range starting September 2026, drawing investor attention.

BHP posted full-year underlying profit of $13.2 billion, up 30% from a year earlier, beating expectations as copper and iron ore prices improved. Copper revenue made up more than half of group revenue for the first time, helped by a 35% jump in realised copper prices. The miner set a target of 3% to 4% copper equivalent growth per year through 2035, about double consensus expectations.

Hindustan Copper shares rose more than 7% in intraday trade on 17 August as global copper spot prices approached a record high. The London Metal Exchange’s cash copper contract traded at a premium of $518.50 a tonne over the three-month contract, signalling near-term supply tightness. Copper prices are up nearly 16% so far this year, supporting gains in mining stocks.

US stocks opened mixed on Friday, with the S&P 500 near flat after closing at a record high in the previous session. July retail sales fell 0.6% month over month, far weaker than expectations for a 0.1% increase. Easing worries over inflation and interest rates helped lift technology and communication services, pushing the Nasdaq Composite up 0.2%. The Dow Jones Industrial Average slipped 0.1%.

Private equity firm Carlyle was set to sell a 6% stake in Piramal Pharma via a ₹1,750 crore block deal, but the transaction is likely to have been cancelled. The stock fell about 3% after the update. As of the end of the June quarter, promoter entities held 34.8% while public shareholding stood at 64.72%. Piramal Pharma reported first-quarter revenue up 17.4% to ₹2,269.9 crore and EBITDA up 82.9% to ₹195.2 crore, lifting margin to 8.6% from 5.5%.

Anupam Rasayan reported FY27 first-quarter results with net profit up 14% year on year to ₹38.6 crore and revenue rising 35% to ₹655 crore. EBITDA increased 31% to ₹162.4 crore, while the EBITDA margin edged down to 24.8% from 25.6%. The company also said it has appointed Ravi Desai as chief operating officer, effective August 14. Shares were up 0.74% after the results.

The US June PPI slowed to 4.7% year on year, below expectations, and together with earlier weaker jobs data pushed market pricing for a September Fed rate hike to below 40%. US stocks closed higher overnight on the shift in rate expectations. Asia-Pacific markets followed, with South Korea’s Kospi up as much as 3%, Japan’s Nikkei 225 up 1.68%, and the MSCI Asia Pacific Index up 0.4%.