India Market Outlook – September 23, 2025

Dalal Street ended Tuesday’s session on a mixed note. IT weakness weighed on benchmarks, while banks and autos provided the much-needed support. The undertone stayed cautious, with traders eyeing global cues, crude, and the currency market for direction.

Indices Recap

Index	Close	Change	% Change
Sensex	82,102	-56	-0.07%
Nifty 50	25,170	-32	-0.13%
Nifty Bank	55,509	+225	+0.41%
Nifty Midcap 100	—	-0.29%	—
Nifty Smallcap 100	—	+0.35%	—

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Sectoral Performance

Sector	Trend	Key Drivers
Auto	▲ Strong	Festive demand optimism, GST tweaks
Banks (Private & PSU)	▲ Positive	Loan growth outlook, investor flows
IT	▼ Weak	US H-1B visa fee shock
FMCG	▼ Soft	Profit-taking, input cost concerns
Metals	▲ Mild gains	Commodity strength

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Market Breadth & Statistics

Metric	Value
Advances	1,329
Declines	1,714
Unchanged	93
52-Week Highs	107
52-Week Lows	44

Key Drivers of the Session

• IT Drag: US policy shock on H-1B visa fees pressured IT heavyweights.
• Auto Rally: Early Navratri demand expectations boosted auto majors.
• Banking Strength: Private banks extended gains, cushioning benchmarks.
• Currency Pressure: Rupee hit fresh lows near 88.8/USD, weighing on sentiment.
• Oil Relief: Brent crude softened towards $66/bbl, easing inflationary worries.

Global Cues

Asset / Index	Trend	Implication for India
US equities	Near record highs	Supportive global mood
Brent crude	~$66/bbl, falling	Positive for input costs
USD/INR	88.8 (record low)	Import cost worries, FII risk

Stocks to Watch

Stock	Trigger
Maruti, M&M, Tata Motors, Hero MotoCorp	Festive demand tailwinds
Axis Bank, SBI	Strong financial momentum
TCS, Infosys, TechM, LTIM, Coforge	Visa fee overhang
KEC International	Order inflows worth ₹3,243 cr
Adani Power	Post 1:5 stock split action

Technical Picture – Nifty 50

Level	Zone	Comment
Support 1	25,050	Short-term floor
Support 2	25,000	Psychological mark
Support 3	24,950	Breakdown trigger
Resistance 1	25,300–25,350	Supply zone
Resistance 2	25,500	Upside target

Outlook for Tomorrow (Sep 24, 2025)

The market is poised for a neutral to cautious open. Autos and banks are expected to remain in favor, while IT may continue to face selling pressure. Crude softness provides a cushion, but the weak rupee is a key risk factor.

Expected Market Tone: Rangebound with a cautious bias.

• Buy dips near 25,050–25,000.
• Fade rallies near 25,300–25,350.
• Watch for currency volatility and global tech sentiment overnight.

Bottom Line: Traders should stay stock-specific, favor banks and autos on strength, and remain cautious in IT. Tomorrow’s session will likely be one of consolidation with rotational sectoral action.