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Bite-sized market moves, explained simply.
With the Nifty closing at 23,063.10 on Thursday, the 23,000 level is an important psychological level for today's trading session. Market participants are closely watching whether the index can hold above this zone amid continued volatility.
Early market indications were mixed, with GIFT Nifty around the 23,100 area before the opening. Asian markets were also mixed, leaving investors focused on global cues and domestic institutional flows.
Stocks being highlighted in today's market coverage include ESDS Software, Purple Style Labs, Axiom Gas, Dr Lal PathLabs, LCC Projects, Waaree Energies and Inox Green Energy.
Rising US Treasury yields are creating additional pressure on global equity markets. Investors are watching bond yields, crude prices and geopolitical developments closely as these factors influence liquidity and risk appetite.
Several IPOs are active today. Swastika Infra IPO entered its final bidding day after receiving 1.64 times subscription by Day 2. The Rs 160.88-crore issue has a price band of Rs 175– Rs 185.
PB Fintech shares fell sharply after IRDAI's proposed changes to insurance distribution commissions raised concerns about the impact on its distribution business. The stock fell around 36% on September 24.
NSE shares made their debut on the BSE on September 24 at Rs 1,800 per share, giving the exchange a market capitalisation of around Rs 4.5 trillion. The listing took place despite a weak broader market.
Foreign institutional investors sold Indian equities worth Rs 5,027.36 crore on September 24, while domestic institutional investors bought stocks worth Rs 4,301.18 crore. The strong FII outflow added to the pressure on benchmark indices.
Brent crude remained above $105 a barrel, keeping pressure on India's import bill and inflation outlook. Elevated oil prices, along with geopolitical tensions and rising global bond yields, are currently important factors for Indian equities.
Indian benchmark indices are expected to remain volatile today after Thursday's sharp sell-off. On September 24, the Sensex fell 1,247.71 points, or 1.67%, to close at 73,580.54, while the Nifty 50 declined 383.70 points, or 1.64%, to 23,063.10.
Several stocks are expected to remain in focus, including NSE, Power Grid, Ola Electric, Waaree Energies, Avenue Supermarts, Canara Bank, Bharat Dynamics, Exide Industries, Avantel, Meesho, and Allied Blenders & Distillers. Company-specific developments, corporate announcements, and sector news could influence their trading activity today.
Foreign institutional investors bought approximately Rs 1,617.45 crore of Indian equities on Wednesday, while domestic institutional investors bought around Rs 2,341.46 crore. Despite the latest buying, foreign investors have remained net sellers during September.
One of the biggest events in India's capital markets today is the listing of the National Stock Exchange (NSE) on the BSE. The NSE IPO raised approximately Rs 22,561.57 crore through an offer for sale by existing shareholders. The listing is expected to attract significant attention from investors and market participants.
Brent crude continues to trade above the $100 per barrel level. Brent was around $102.16–$102.57 per barrel in early Thursday trading. Higher crude prices remain an important factor for Indian markets because India imports a significant portion of its crude oil requirements.
Wall Street ended lower on Wednesday as US Treasury yields jumped sharply. The Dow Jones declined 0.68%, the S&P 500 fell 0.75%, and the Nasdaq dropped 1.13%. The US 10-year Treasury yield moved above 5%, increasing concerns that interest rates could remain elevated for longer.
In Wednesday's trading session, the Nifty 50 gained 117.80 points, or 0.50%, to close at 23,446.80, while the Sensex rose 299.17 points, or 0.40%, to 74,828.25. Buying was visible across several sectors, particularly metals and capital-market stocks.
Indian equity markets are likely to see a weak opening today, with GIFT Nifty trading around 23,263, down nearly 186 points. The negative cues are coming from a sell-off in global markets, rising US Treasury yields, and concerns over the interest-rate outlook.
Asian markets were broadly positive today, while US technology stocks had a strong session. However, the US-Iran conflict, crude prices, FII flows and global markets remain important drivers for Indian equities.
Kaynes Technology, LIC Housing Finance, Manappuram Finance and SAIL are in the F&O ban period today.
The NSE IPO is scheduled to list on September 24, making it one of the major events investors are watching this week.
Hero Motors saw a sharp move today despite a weak IPO listing, with the stock gaining around 19% amid heavy trading volumes.
HSBC maintained a Hold rating on Persistent Systems with a Rs 5,000 target after Persistent secured control of Nagarro SE.
CLSA maintained an Outperform rating on Hindalco with a Rs 1,240 target, citing expected growth in Novelis and the company's India operations.
Citi initiated coverage on Tata Capital with a Rs 450 target price, citing its growth and earnings profile.
M&M director Dr Anish Shah sold 76,357 shares on September 22, with the transaction disclosed as being related to funding taxes associated with an employee stock-option plan.
HDFC Bank remains in focus as the RBI considers the bank's proposed CEO succession. The bank's board has forwarded the names of Kaizad Bharucha and Anup Bagchi for consideration.
Foreign Institutional Investors sold approximately Rs 3,810 crore of Indian equities on Tuesday, while Domestic Institutional Investors bought around Rs 4,120 crore.
Brent crude has continued to decline, trading around $98–99 per barrel. The fall in crude prices is easing pressure on Indian equities, especially since India is a major crude importer.
Indian benchmark indices opened in positive territory today. Around 9:16 AM, Sensex was at 74,692.59, up 163 points, while Nifty was around 23,385, up about 57 points.
Waaree Energies is among today's stocks to watch after receiving an order for 2 GW of solar modules. ONGC is also in focus following a gas discovery in the Mahanadi Offshore Basin.
Garden Reach Shipbuilders & Engineers (GRSE) approved a Rs 2,896 crore capital expenditure plan for a new greenfield shipyard at Raichak, West Bengal, aimed at increasing shipbuilding capacity.
Pace Digitek surged around 10% after receiving an order worth approximately Rs 488 crore from NTPC's unit, NTPC GE Power Services, for commissioning battery energy-storage containers.
Coal India gained around 2.3% after Morgan Stanley upgraded its view on the stock, citing an improving earnings outlook.
IT stocks were among the weaker pockets of the market today. The Nifty IT index fell around 0.9% as analysts flagged subdued demand and concerns about medium-term earnings amid geopolitical and macroeconomic uncertainty.
Brent crude was around $101 per barrel after declining for four consecutive sessions. Lower crude prices are positive for India because they can reduce pressure on the import bill, inflation, and the rupee.
Asian markets, US market trends, crude oil, and geopolitical developments are likely to remain important factors influencing Indian equities this week.
Foreign investor flows continue to be closely watched as Indian equities deal with global uncertainty, crude oil movements, and currency fluctuations.
Several companies are preparing to enter the primary market, with multiple mainboard IPOs expected to raise thousands of crores from investors.
SEBI is reportedly considering changes related to settlement of fund-diversion cases and other regulatory proposals at its upcoming board meeting.
Welspun Corp attracted investor attention after its subsidiary received a major order from Saudi Aramco.
Jaiprakash Power was among the notable gainers in Monday's session, with its shares rising sharply during trading.
Major IT stocks including Infosys, TCS, Tech Mahindra and Wipro remained under pressure despite gains in the broader market.
The NSE IPO entered its final bidding day with the issue receiving strong subscription. The long-awaited listing of India's largest stock exchange remains a key market event.
Oil prices eased from recent highs, providing some relief to Indian equities. However, ongoing geopolitical tensions continue to keep crude prices volatile.
Indian benchmark indices opened higher on Monday, with Sensex and Nifty gaining as investors tracked easing crude oil prices and global market cues.
