Major indices
| Index | Close | Change (pts) | % chg |
|---|---|---|---|
| Nifty 50 | 25,202.35 | –124.70 | –0.49 % |
| Sensex | 82,159.97 | –466.26 | –0.56 % |
| Nifty Bank | 55,284.75 | –174.10 | –0.31 % |
| Nifty IT | 35,500.15 | –1,078.10 | –2.95 % |
| BSE Mid‑cap | 58,699.50 | –394.85 | –0.67 % |
| BSE Small‑cap | 54,233.63 | –388.41 | –0.71 % |
Sectoral performance
• IT and pharma/healthcare led the decline; the Nifty IT index tumbled nearly 3 %, while pharma stocks with meaningful U.S. exposure were under pressure.
• Media, metals and PSU banks outperformed with modest gains.
• Bank Nifty fell 0.3 %, while financials were broadly flat.
• Energy shares were mixed: upstream explorers slipped on weaker crude prices, whereas utilities and transmission names held steady.
Market breadth & statistics
| Measure | Data |
|---|---|
| Advance/Decline (NSE) | 1,037 advancers vs 1,790 decliners (breadth negative). |
| Advance/Decline (BSE) | ~1,775 gainers vs 2,511 losers. |
| India VIX | ~10.56 (up about 6 %, signalling a rise in expected volatility). |
| FII/DII activity | Foreign institutional investors (FIIs) net sold ~₹2,910 cr; domestic institutional investors (DIIs) net bought ~₹2,583 cr. |
Top gainers & losers (Nifty stocks)
| Top gainers | % chg |
|---|---|
| Adani Enterprises | ≈ +4.2 % |
| UltraTech Cement | +1.1 % |
| Bajaj Finance | +1.4 % |
| Adani Ports & SEZ | +1.2 % |
| Bajaj Auto/Hero MotoCorp | +0.4 – 0.9 % |
| Top losers | % chg |
|---|---|
| Tech Mahindra | ≈ –3.1 % |
| TCS | ≈ –3.0 % |
| Infosys | ≈ –2.6 % |
| Wipro | ≈ –2.2 % |
| HCL Tech/Mphasis/LTIMindtree | –1.7 % to –4.8 % |
What moved the market?
• H‑1B visa fee shock – The U.S. administration announced a one‑time USD 100 000 fee for new H‑1B visa applications. IT companies rely heavily on this visa programme, so the announcement triggered an across‑the‑board sell‑off in large‑cap tech stocks such as TCS, Infosys, Wipro and Tech Mahindra. Traders worried about higher costs and slower U.S. hiring.
• Pharma pressure – Drug makers with major U.S. exposure, including Sun Pharma and Cipla, faced selling as investors feared tighter visa norms could hamper supply of specialised talent and regulatory approvals.
• Adani group strength – Adani Enterprises, Adani Ports and Adani Green Energy rallied following positive commentary on the group’s clean‑energy pipeline and robust cash flows. Gains in UltraTech Cement and Bajaj Finance also limited downside.
• Macro data & liquidity – FIIs turned heavy sellers (~₹2.9 k cr outflow) after continuous buying in previous sessions; DIIs absorbed most of the supply. The rupee softened to around ₹88.31 per USD while 10‑year Indian bond yields edged up to ~6.50 %.
• Commodities & currency – Brent crude slipped below $67/bbl. Gold futures rose (~1.6 %) amid risk‑off sentiment.
Global cues
• U.S. equities closed at record highs last Friday, buoyed by progress in U.S.–China trade talks and optimism over a “magnificent seven” tech rally. Futures were modestly lower heading into Monday.
• Asian markets were mixed: Japan’s Nikkei and Hong Kong’s Hang Seng edged higher, while Chinese benchmarks were flat as the PBOC left lending rates unchanged.
• European stocks slipped as investors awaited euro‑zone confidence data.
• U.S. 10‑year yields eased to ~4.13 %; the U.S. dollar index dipped marginally.
Stocks/Events to watch
| Company/Trigger | Notes |
|---|---|
| Larsen & Toubro (L&T) | The renewables arm signed an MoU with ACWA Power to develop green‑hydrogen infrastructure in Saudi Arabia. Short‑term sentiment could remain buoyant despite a slight fall in the stock. |
| Netweb Technologies | Announced a ₹450 cr order for its Tyrone AI GPU‑accelerated systems; stock jumped ~7–8 %. Potential beneficiary of AI & data‑centre theme. |
| PTC Industries | Subsidiary Aerolloy Technologies commissioned a new remelting furnace; shares gained. |
| Rossell Techsys | Signed a long‑term contract with Boeing for electrical panel assemblies; the order supports revenue visibility till 2033. |
| Hexaware Technologies | Said the U.S. fee hike will have negligible impact as it reduced H‑1B filings in recent years. Nonetheless, the stock fell along with the IT pack. |
| Rajesh Exports | Reported Q1 FY26 net loss despite surging revenue; shares slid ~4 %. |
| NBCC India | Secured multiple orders worth ~₹117 cr from HUDCO; stock up ~4 %. |
| Sarveshwar Foods | Received a ₹329 mn export order; shares gained. |
| Upcoming IPOs | Ganesh Consumer Products, Atlanta Electricals, GK Energy and Saatvik Green Energy issues opened on Monday; subscription levels ranged from ~0.1× to 6×. |
Technical outlook & levels for Tuesday (23 Sep 2025)
• Nifty 50 – Monday’s session formed a bearish candle on the daily chart. The index has immediate support near 25,150–25,200; breaking below 25,150 could lead to a move towards 25,000. Resistance is placed at 25,300, followed by 25,450. A sustained move above 25,300 may trigger a recovery towards 25,600.
• Bank Nifty – Support lies at 55,400, with deeper levels at 54,800 and 54,000. Resistance is around 55,850–56,200.
• Indicators – Nifty’s relative strength index (RSI) slipped below 60, suggesting waning momentum. India VIX’s jump signals heightened volatility. Option data show significant call writing at 25,300–25,400 strikes and put accumulation near 25,200, implying a narrow trading range.
Outlook for tomorrow
Sentiment is likely to remain cautious as markets digest the implications of the U.S. H‑1B visa fee and monitor global risk appetite. Technical charts point to a corrective bias; a decisive break below 25,150 could accelerate selling. However, strong domestic macro fundamentals and steady DII inflows may limit downside. Traders should watch U.S. market cues, rupee movement and FII flows. Selective buying could emerge in defensive sectors and PSU banks, while IT and pharma may continue to see profit‑booking.
