Stock Market Today: Nifty, Sensex Decline For Second Day As H-1B Visa Woes Trigger IT Stocks Sell-Off

The NSE Nifty Midcap 150 and NSE Nifty Smallcap 250 fell in line with the benchmark indices.

The Nifty 50 and Sensex were trading in a narrow range with losses as IT stocks weighed. (Photo: Freepik)

Good afternoon, welcome to NDTV Profit's live blog for market coverage. The NSE Nifty 50 and BSE Sensex ended sharply lower as IT stocks weighed on the indices. US has hiked fees for H-1B visas which roiled sentiments for the IT companies. The NSE Nifty It was the worst performer in the index. Tech Mahindra Ltd., Tata Consultancy Services Ltd., and Infosys Ltd. were top losers in the Nifty 50 index.
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Closing Bell: Nifty, Sensex Decline For Second Day

  • Nifty Ends In Red, Close To 25,200 Mark

  • Nifty Loses for Second Consecutive Day

  • Top Nifty Gainers Were Adani Ent & Eternal

  • Top Nifty Losers Tech Mahindra & TCS

  • Nifty Energy Emerges Top Sectorial Gainer, Gains Led By Adani Power & Adani Green

  • Nifty IT Is The Top Sectorial Loser, Drag By Mphasis & Ltimindtree, On The Back Of H1b Visa Hike

  • Small cap 250 Ends In Red, Drag Led By Kfin Tech & Zensar

  • Nifty Midcap150 Ends In Red, Drag Led By Mphasis & Coforge

  • Sectors End On A Mixed Note

  • Nifty Metal Gains For The 3rd Day In A Row.

  • Nifty Media Snaps 2 Day Losing Streak

  • Nifty Pharma Snaps 2 Day Gaining Streak

  • Nifty Bank, FMCG & Auto Falls For Second Consecutive Day

Rupee Closes Weaker Against US Dollar

  • Rupee closed 22 paise weaker at 88.32 against US Dollar

  • It settled at 88.10 on Friday

Source: Bloomberg

Stock Market Today: Adani Green And Adani Total Gas Reacts To Share Price Movement

Adani Green Energy Ltd. and Adani Total Gas said that movement in share prices are absolutely market-driven.

Nifty 50| Sensex| Stock Market LIVE: IndusInd Bank Share Erases Gains; Appoints New CFO

IndusInd Bank Ltd. share price fell 1.40% to Rs 734 apiece. The private lender appointed Names Viral Damania as the chief financial officer. Santosh Kumar will continue Deputy CFO.

Stock Market LIVE: TVS Holdings Allots NCDs Worth Rs 986.5 Crore

TVS Holdings allotted cumulative non-cumulative non-convertible redeemable preference shares via bonus worth Rs 986.5 crore.

Stock Market LIVE: Shree Refrigerations Gets Order Worth Rs 19 Crore From Mazagon Dock 

Shree Refrigerations received order worth Rs 19 crore from Mazagon Dock for supply of turnkey HVAC solutions onboard 14 fast patrol vessels, the company said in the exchange filing.

Swiggy Vs Zomato: What Should You Bet On Amid GST Cuts? Five Key Triggers To Watch

Swiggy Vs Zomato: Growth recovery in India's food delivery market is expected to be gradual. However, momentum in the quick-commerce segment will likely remain robust with the next-generation GST reforms widely expected to spur consumption and boost India's economic growth.

According to global brokerage, Bank of America (BofA), the quick commerce segment will be one of the key beneficiaries of GST rate cuts with Blinkit being 'best placed' among the top names. Festive season demand, combined with the GST cuts, will push quick commerce players to adopt discount strategies and target higher sales to attract more buyers.

Also Read: Swiggy Vs Zomato: What Should You Bet On Amid GST Cuts? Five Key Triggers To Watch

Stock Market LIVE: Share India Securities Approves Rs 28 Crore Additional Investment In Share India Capital

Share India Securities approved additional investment of Rs 28 crore in arm Share India Capital Services, the company said in the exchange filing.

New GST Rates: Full List Of Bikes, Scooters, Motorcycles That Get Cheaper After GST Tax Cut

The new GST 2.0 reforms coming into effect this Navratri season have brought cheer to prospective motorcycle and scooter buyers.

Announced earlier this month by Union Finance Minister Nirmala Sitharaman, the changes aim to simplify the Goods and Services Tax framework while providing direct relief to consumers across the automobile sector.

Also Read: New GST Rates: Full List Of Bikes, Scooters, Motorcycles That Get Cheaper After GST Tax Cut

GST Rate Cut Boost: Two-Wheeler Sales Set To Outpace Previous Festive Seasons: Bajaj Auto's Rakesh Sharma

GST rate cuts were to offset a surge in festive sales for sectors like cars, bikes, electronics and more. While some sectors see the trickle-down of the impact, the two-wheeler segment is yet to see some action. Rakesh Sharma, Executive Director at Bajaj Auto, though, is not worried at all, as he believes that the GST rate cut will bring in festive sales that are better than the sales last year.

Also Read: GST Rate Cut Boost: Two-Wheeler Sales Set To Outpace Previous Festive Seasons: Bajaj Auto's Rakesh Sharma

Stock Market LIVE: Zaggle Prepaid In Pact With AU SFB For Co-Branded Retail Credit Card & Commercial Card

Zaggle Prepaid Ocean Services Ltd. is in pact with AU Small Finance Ban for co-branded retail credit card and commercial card, the company said in the exchange filing.

H-1B Visa Fee Shock:Temporary Setback Or Turning Point For Indian IT? Former Zensar CEO Weighs In

Former Zensar Technologies Chief Executive and IT industry veteran Ganesh Natarajan believes Indian companies will face the short-term impact of the US government's mandate to charge a one-time fee of $100,000 to new H-1B visa applicants but stressed that resilience in the Indian IT industry will prevail.

Also Read: H-1B Visa Fee Shock:Temporary Setback Or Turning Point For Indian IT? Former Zensar CEO Weighs In

Nifty 50|Sensex| Stock Market Today: Coromandel International To Set Up Plant At Visakhapatnam 

Coromandel International will set up a technical mono ammonium phosphate planat at Visakhapatnam, the company said in the exchange filing.

Nifty 50|Sensex| Stock Market Today: Hexaware Tech Sees No Material Impact From Visa Fee Hike 

Hexaware Technologies saw no material impact from increase in fees applicable to new visa petitions. The company has been reducing dependency on H1-B filings in last few years.

The company has not been made any fresh applications under H1-B cap in April 2025, the company said in the exchange filing.

Stock Market LIVE: Bajaj Auto To Pass On Full Benefit Of GST Rate Cut

Bajaj Auto will pass on full benefit of GST cut to buyers for motorcycles under 350 cc. Buyers will get 50% financing benefits in addition to GST cuts.

Stock Market LIVE: Exicom Tele-Systems Supports Charger On Wheels 

Exicom Tele-Systems supported charger on wheels, a mobile electric charging startup, the company said in the exchange filing.

Nifty 50| Sensex| Stock Market Today: Shipping Corp Jumps Over 8%

Shipping Corp of India share price jumped 8.11% to Rs 237.40 apiece. The stock price was trading 4.88% higher at Rs 230 apiece as of 11:53 a.m.

Stock Market LIVE: Adani Green Share Price Rises Over 8%

Adani Green Energy share price jumped 8.14% to Rs 1,114.60 apiece.

Eternal Shares Hit Record Highs: What's Working And What's Not — A Deep Dive Into Company's Performance

Shares of Eternal Ltd. hit a record high on Thursday, extending a strong run that has seen the stock soar 70% from its 52-week low and surge 325% over its issue price.

With a market capitalisation of Rs 3.26 lakh crore, Zomato's parent has now overtaken Titan, which has a market cap of Rs 3.11 lakh crore, and Tata Motors, with a market cap of Rs 2.62 lakh crore, cementing its place among India’s most valuable companies.

Also Read: Eternal Shares Hit Record Highs: What's Working And What's Not — A Deep Dive Into Company's Performance

Stock Market Today: Solarworld Energy Solutions IPO GMP Gains Ahead Of Sept 23 Launch

Solarworld Energy Solutions is set to launch an initial public offering (IPO) on September 23 to raise almost Rs 500 crore from the primary market. The company provides services for installing solar systems.

Ahead of its launch, the grey market premium (GMP) for the issue has gained in the last few days.

Also Read: Solarworld Energy Solutions IPO GMP Gains Ahead Of September 23 Launch; Check Price Band And Key Details

Stock Market LIVE: Inventurus Knowledge Solutions On H1-B Visa 

Inventurus Knowledge Solutions sees no impact of H1-B visa fee changes. It does not depend on H1-B visa holders for its workforce.

Stock Market LIVE: Jio Payment Bank Launches 'Savings Pro' Account

  • Jio Financial Services' Jio Payments Bank launched 'Savings Pro' account with minimum threshhold of Rs 5,000.

  • Customers can invest up to Rs 1.5 lakh per day through new 'Savings Pro' account.

Adani Group Stocks Continue To Rally After SEBI Clean Chit

Shares of Adani Group companies continued its impressive rally in Monday's trade, after the Securities & Exchange Board of India handed a clean chit to the group last week, finding no evidence of allegations made by Hindenburg Research.

The regulator, in its final report, imposed no penalty and cleared Adani Ports & Special Economic Zone Ltd., Adani Power Ltd., and Adani Enterprises Ltd. of any liabilities. Adani Group Chairperson Gautam Adani and Adani Enterprises Managing Director Rajesh Adani were also cleared of any wrongdoings.

Also Read: Adani Group Stocks Continue To Rally After SEBI Clean Chit

Stock Market LIVE: L&T In Pact With ACWA Power 

Larsen & Toubro Ltd.'s renewable verticals signed MoU with ACWA power for renewable and grid scope of Yanbu Green Hydrogen Hub, the company said in the exchange filing.

Saatvik Green IPO: Check Day 2 Subscription Status, GMP, Other Details

Saatvik Green Energy Ltd.'s initial public offering is set to open for its second day subscription on Sep. 22. The IPO was subscribed 0.59 times on its first day on Friday.

Also Read: Saatvik Green IPO: Check GMP, Day 2 Subscription Status, Other Details

Stock Market LIVE: Netweb Technologies Share Price Rises Nearly 6%

Netweb Technologies share price rose 5.78% to Rs 3,470 apiece. It was trading 4.13% higher at Rs 3,436 apiece as of 10:06 a.m.

Stock Market LIVE: SEPC Gets Order Worth Rs 443 Crore 

SEPC received order worth Rs 443 crore irrigation project order in Dehri, Bihar, the company said in the exchange filing.

Buzzing Stocks: Swan Defence, Shipping Corp, Netweb — Check Share Price, Stock Predictions And More

Indian equity benchmarks extended declines for the second consecutive trading session. The BSE Sensex fell as much as 476 points or 0.6%, while the NSE Nifty 50 fell as much as 115 points or 0.5% to 25,211.

Thirteen out of fifteen sectoral gauges on NSE traded higher with the NSE Nifty Energy Index leading the gains. On the flipside, the NSE Nifty IT and NSE Nifty Pharma were the sectoral losers.

Also Read: Buzzing Stocks: Swan Defence, Shipping Corp, Netweb — Check Share Price, Stock Predictions And More

Nifty 50|Sensex| Stock Market Today: Garden Reach Shipbuilders Share Price Jumps 6%

Garden Reach Shipbuilders and Engineers share price jumped 5.94% to Rs 2,760 apiece. The company signed a series of MoU with strategic partners in shipbuilding, port and infrastructure sectors.

Stock Market LIVE: Afcom Holdings In Pact With Air India 

Afcom Holdings is in pact with Air India SATS Fo freighter operations at Noida International Airport, the company said in the exchange filing.

Stock Market LIVE: TCS Share Price Falls Over 3%

Tata Consultancy Services share price fell 3.29% to Rs 3,065 apiece. It was trading 2.14% down at Rs 3,100 apiece as of 9:32 a.m.

Nifty 50| Sensex| Stock Market LIVE: Infosys Share Price Falls 4%

Infosys Ltd. share price slumped 3.78% to Rs 1,482.00 apiece, the lowest price since Sept 9. It's the top detractors in the NSE Nifty 50 index.

Infosys share price was trading 2.48% down at Rs 1,502 apiece as of 9:28 a.m.

Sectoral Performance At Open: Nifty Slumps Nearly 3%

On National Stock Exchange, eight sectoral indices opened higher, six declined, and one remained flat out of 15.

Nifty Detractors: Infosys, TCS, Tech Mahindra Weigh

Infosys Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., HCLTech Ltd., and Bharti Airtel Ltd. shares weighed on the NSE Nifty 50 index.

Bajaj Finance Ltd., HDFC Bank Ltd., HDFC Bank Life Insurance Co., Adani Enterprises Ltd., and UltraTech Cement Ltd. limited losses to the NSE Nifty 50 index.

Nifty Sensex Today| Stock Market Today: Nifty, Sensex Fall 

Indian benchmark indices declined at open on Monday in reaction to US hiking visa fee on proscribed basis. Infosys Ltd., Tata Consultancy Services Ltd. share prices weighed on the Nifty 50 and Sensex.

The indices were trading 0.26% and 0.54% down, respectively as of 9:22 a.m.

Nifty 50|Sensex| Stock Market Today: ONGC Gets Govt Directive To Take Control Of All Data And Assets Of CB OS/2 Oil Block

Government directed Oil and Natural Gas Corp will take control of all data, assets associated with CB-OS/2 oil block.

The government said application for extension of PSC not accepted, the company said in the exchange filing.

LIVE: Yield On 10-Year Bond Opens Flat

  • The yield on the 10-year bond opened flat at 6.49%

Source: Bloomberg

LIVE: Rupee Opens Weaker Against US Dollar

  • Rupee opened 9 paise weaker at 88.19 against US Dollar

  • It settled at 88.10 on Friday

Source: Bloomberg

Nifty 50| Sensex| Stock Market LIVE: GCCs Can Partially Offset Indian IT Export Hit From H1-B Fee Hike, Says Emkay

The H-1B shock from the Trump administration and increasing uncertainty about US immigration policy could accelerate India's rapid move towards Global Capability Centres (GCCs) and lift GCC exports as a share of India’s total services exports over time, according to the top economist at Emkay Global.

Also Read: H-1B Visa Fee Hike: Global Capability Centres Can Partially Offset Hit On Indian IT Export, Says Emkay

Stock Market LIVE: JSW Cement Shares Rated 'Neutral' After Goldman Sachs Initiates Coverage

Goldman Sachs has initiated coverage on JSW Cement with a "Neutral" rating, setting a target price of Rs 147. This target price implies a potential downside of 1.5% from the current market price of Rs 149.30.

The firm’s cautious stance is based on the challenges JSW Cement faces in balancing aggressive growth with profitability and leverage. This comes into the picture, especially in an industry dominated by large, debt-free players like Ultratech and Ambuja Cement.

Also Read: JSW Cement Rated 'Neutral' By Goldman Sachs On Coverage Initiation — Here's Why Caution Is Advised

Stock Market LIVE: H-1B Visa Fee Hike Impact: Brokerages Predict 2-4% Earnings Hit For Indian IT Firms

Indian technology companies will likely see their operating expenses rise in the medium term after US President Donald Trump issued a proclamation to hike the visa fee of H-1B visas. Indian IT companies will also increase offshoring and local hirings as well, analysts and brokerages said.

Assuming one-third of H-1B employees are replaced with local hires, the impact on EBIT margin is likely to be 20–50 basis points and 2–4% on earnings per share, Dam Capital said.

Also Read: H-1B Visa Fee Hike Impact: Brokerages Predict 2-4% Earnings Hit For Indian IT Firms

H-1B Visa Fee Hike: No Cause For Concern? Indian IT Firms See 'No Material Impact'; Reduced Visa Reliance Key

Indian IT companies have moved quickly to reassure investors that there will be no material impact of Donald Trump's recently announced $100,000 fee for H-1B visa applications.

Several IT companies have confirmed to the exchanges that the steep increase will have no material or significant impact, with many highlighting reduced reliance on the visa programme and increased local hiring.

Also Read: H-1B Visa Fee Hike: Midcap Indian IT Firms See Little Concern, Reduced Visa Reliance Key

Pidilite Industries, Time Technoplast Bonus Issues: Last Day To Buy Shares To Qualify — Check Details

Pidilite Industries Ltd. and Time Technoplast Ltd. will be on the market radar on Monday as it marks the last session for investors to buy shares to qualify for the bonus issue of shares ahead of the record date.

Also Read: Pidilite Industries, Time Technoplast Bonus Issues: Last Day To Buy Shares To Qualify — Check Details

Gold Price Rises On Festive Demand — Check Rates In Delhi, Chennai, Other Cities

Gold prices are rebounding to levels above the Rs 1,10,000 mark driven by festive demand, geopolitical uncertainties and safe-haven demand.

In India, the prices were at Rs 1,10,430 per 10 gm on Monday, according to the India Bullion Association. The price was Rs 1,09,530 on Friday.

Gold prices had slipped further last week after the US Federal Reserve meeting. The commodity had hit a fresh record high of $3,707.57 on Wednesday ahead of the meet.

Also Read: Gold Price Rises On Festive Demand — Check Rates In Delhi, Chennai, Other Cities

Asia Markets LIVE: Nikkei 225, KOSPI Continue To Gain; CSI 300 Rises As China Holds Rate Steady

Markets in China advanced after the People's Bank of China held rate steady. The CSI 300 was trading flat at 4,500 as of 7:10 a.m.

Japan's benchmark index Nikkei 225 and South Korea's stock gauge KOSPI continued to gain. The indices were trading 1.35% and 0.72% higher, respectively as of 7:11 a.m.

Also Read: S&P 500 Holds At Record Amid Calls For A Breather: Markets Wrap

LIVE: GIFT Nifty Suggests Tepid Open; GRSE, Infosys Shipping Corp, NBCC Share Prices In Focus

The GIFT Nifty was trading 0.05% or 14 points higher at 25,369.50 as of 6:31 a.m. This implied a tepid open for the NSE Nifty 50 index.

Market participants will keep an eye on Garden Reach Shipbuilders and Engineers Ltd., Shipping Corp Ltd., Infosys Ltd., and NBCC (India) Ltd. in Monday's session.

The NSE Nifty 50 and BSE Sensex snapped a three-day winning streak on Monday. The indices were trading 0.38% and 0.47% down, respectively on Friday.

Also Read: Trade Setup For Sept 22: Nifty Likely To See Third Week Of Gains, Key Resistance At 25,600

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WRITTEN BY
Ananya Chaudhuri
Ananya Chaudhuri covers financial markets news and trends at NDTV Profit. S... more
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