Stock Market LIVE: Nifty, Sensex Extend Losses To Second Session; Airtel, ICICI Bank Top Losers

The indices were trading 0.23% and 0.12% down, respectively as of 9:16 a.m. Follow NDTV Profit's blog live update on stock price movements, analysts' views, and latest company news.

The Nifty 50 and Sensex opened on a negative note. (Photo: Envato)

Good morning! Welcome to NDTV Profit's blog for live market coverage. The Nifty 50 and Sensex extended losses on weak global cues. In the primary market, Saatvik Green Energy IPO's allotment is in focus. Anand Rathi Share & Stock Brokers, Jaro Institute of Technology Management & Research, and Solarworld Energy Solutions's IPOs are ongoing.
LIVE FEED

Ashok Leyland Share Price Falls As Goldman Sachs Issues Downgrade — Details Inside

Ashok Leyland Ltd. share price fell are trading with cuts of almost 2.5% in Wednesday morning trade following a Goldman Sachs note, which downgraded the stock to 'neutral', although the target price of Rs 140 has remained unchanged.

Goldman Sachs note cited a likely shift in the broader economy away from capital expenditure towards consumption, a trend that may favour passenger cars over commercial vehicles.

Also Read: Ashok Leyland Share Price Falls As Goldman Sachs Issues Downgrade — Details Inside

Nifty 50|Sensex| Stock Market LIVE: Bajaj ELectricals Share Price Near Two-Month High

Bajaj Electricals Ltd. share price jumped 11.60% to Rs 638.60 apiece, the highest level since July 28. Its board has approved a proposal to acquire the ‘Morphy Richards’ brand and related intellectual property rights for Rs 146 crore in India and neighboring territories from Glen Electric Limited, subject to approvals.

Also Read: Bajaj Electricals Shares Upgraded To 'Add' By Yes Securities Post Q1 Results — Here's Why

Nifty Sensex Today: Stock Market LIVE: Minda Corp Share Price Jumps 

Minda Corp share price jumped 10.01% to Rs 588 apiece, the highest level Jan 21, 2025. The company has successfully allotted 5,000 non-convertible debentures with a total value of Rs 50 crore.

Sectoral Performance At Open: Nifty PSU Bank Outperforms

On National Stock Exchange, 13 sectoral indices declined, two advanced out of 15. The NSE Nifty PSU Bank advanced the most, while the NSE Nifty IT remained under pressure.

Stock Market Opening Bell| Nifty Detractors: ICICI Bank, Airtel Weigh 

ICICI Bank Ltd., Bharti Airtel Ltd., HDFC Bank Ltd., Reliance Industries Ltd., and Axis Bank Ltd. weighed on the NSE Nifty 50 index.

State Bank of India, Trent Ltd., Maruti Suzuki India Ltd., Asian Paints India Ltd., and Oil and Natural Gas Corp added to the NSE Nifty 50 index.

Stock Market LIVE: Nifty, Sensex Extend Losses 

The NSE Nifty 50 and BSE Sensex extended losses tracking a decline in ICICI Bank Ltd., HDFC Bank Ltd., and Bharti Airtel Ltd. share prices. The indices were trading 0.31% and 0.12% down, respectively as of 9:18 a.m.

Asian share indices were trading with losses after US Federal Reserve Chair said that equities are overvalued; and the path to reduce rate is not going to be risk-free.

Yield On 10-Year Bond Opens Flat

  • The yield on the 10-year bond opened flat at 6.47%

Source: Bloomberg

FX News LIVE: Rupee Opens Flat Against US Dollar

  • Rupee opened flat at 88.76 against the greenback

Source: Bloomberg

Nifty, Sensex Today| Stock Market Today: HSBC Asia Strategy – Herald Van Der Linde

  • India now appears attractive on a regional basis

  • Upgrade to Overweight from Neutral; Sensex target at 94,000

  • Local investors have remained resilient

  • Earnings growth expectations can fall a little further

  • Valuations are no longer a concern

  • Government policy is becoming a positive factor for equities

  • Most foreign funds are lightly positioned

Also Read: HSBC's Pranjul Bhandari Says Undervalued Indian Equities Need These Triggers For Rebound

H-1B Visa: US Government Proposes Weighted Selection Framework

In a major development, the US government has proposed sweeping changes to the H-1B visa programme, aiming to do away with the traditional lottery system in order to accommodate a weighted-selection process that prioritises higher-skilled and higher-paid foreign workers.

This comes on the back of US President Donald Trump's recent move to levy a $100,000 one-time fee for fresh H-1B visa petitioners. The move was made to tighten restrictions around the H-1B visa programme and promote 'American workers'.

Also Read: H-1B Visa: US Government Proposes Weighted Selection Framework

Stock Market Today: Swiggy Shares In Focus After Instamart Separation, Rapido Exit

Shares of Swiggy will be in focus on Wednesday after the board approved to separate quick commerce business 'Instamart' through a slump sale and the fully divest its stake in Rapido to Prosus and WestBridge for a total consideration of Rs 2,400 crore.

The board approved the slump sale of the Instamart on Sept. 23 to Swiggy Instamart, an indirect step-down wholly-owned subsidiary of the company.

Also Read: Swiggy Shares In Focus After Instamart Separation, Rapido Exit

BMW Ventures IPO: Check Price Band, Financials, Use Of Proceeds And Other Details

BMW Ventures Ltd.'s initial public offering to raise up to Rs 231.66 crore will open on Wednesday, Sept. 24 and close on Friday, Sept. 26. The price band has been set at Rs 94 to Rs 99 per share.

The Bihar-based company's IPO will comprise only a fresh issue of 2.34 crore equity shares, with no offer for sale component. The market capitalisation based on the upper price band of BMW Ventures is Rs 858.48 crore.

Also Read: BMW Ventures IPO: Check Price Band, Financials, Use Of Proceeds And Other Details

Stock Market LIVE: F&O Cues

  • Nifty Sep futures is down by 0.10% to 25,252 at a premium of 83 points.

  • Nifty Sep futures open interest down by 2.70%.

  • Nifty Options 30th Sep Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,000.     

  • Securities in ban period: RBL Bank, Sammaan Capital, HFCL

Five Personal Loan Myths That You Need To Stop Following

Personal loans are one of the most popular financial tools nowadays. Whether it's for home renovation, medical emergencies, travel, or even debt consolidation, they provide quick access to funds without requiring collateral. 

Yet, despite their convenience, many people hesitate to apply for personal loans because of myths and misconceptions. Some think getting a loan is difficult, while others worry it will hurt their credit score. 

Also Read: Five Personal Loan Myths That You Need To Stop Following

Stock Market Today LIVE: Watch India Market Open At NDTV Profit 

IPO News: Saatvik Green Energy IPO Allotment And GMP In Focus Today

The initial public offering (IPO) of Saatvik Green Energy was subscribed 6.57 times on the third and final day of bidding on September 23.

The issue received bids for 9,38,08,672 shares against 1,42,71,970 offered.

The Qualified Institutional Buyers (QIBs) booked the issue 10.84 times. The Non-Institutional Investors’ (NIIs) category was subscribed 10.04 times. Retail investors booked their quota 2.66 times. 

Also Read: Saatvik Green Energy IPO Allotment And GMP In Focus Today: Check Status, Listing Date

Stock Market Today|Stock Market LIVE: GIFT Nifty Indicates Slight Lower Open

The GIFT Nifty was trading 0.10% or 26 points lower at 25,190 as of 7:57 a.m., which indicated a slight lower open for the benchmark NSE Nifty 50 index.

Also Read: Stock Market Today: All You Need To Know Going Into Trade On Sept. 24

Stock Market LIVE: Nifty Sees Immediate Resistance At 25,500–25,600

The NSE Nifty 50 ended lower for the second straight session on Monday with investor sentiment cautious amid concerns over currency depreciation, foreign institutional investor outflows, and global policy uncertainties, according to analysts.

The benchmark, which closed 0.13% lower at 25,169.50, formed a second consecutive high wave candle with a lower high and lower low in the daily chart, Bajaj Broking said. "The Nifty on expected lines is seen consolidating in a range for the third session in a row. We expect it to extend the same and trade in the range of 25,500–25,000 in the coming sessions."

Also Read: Trade Setup For Sept 24: Nifty Sees Immediate Resistance At 25,500–25,600

Stock Market Today| Experts' View: Investors Remain Cautious On External Volatility 

"Investor sentiment in the domestic market remains underpinned by an expected pickup in growth supported by tax reforms and the recent GST cut that are set to fuel consumption.  However, persistent foreign fund outflows, a record-weak rupee at 88.78/USD, and stretched valuations are keeping investor sentiment cautious. Adding to the volatility are global headwinds—from U.S. tariff threats to visa fee hikes, which are putting additional pressure on the IT stocks and other export linked sectors."
Ponmudi R, CEO of Enrich Money
"A sustained move above 25,100 could spark a rebound towards 25,300–25,350, while failure to hold 25,080 may drag the index lower to 25,000–24,950. With GIFT Nifty pointing to a flat start, the market tone remains delicately balanced—slightly bullish above 25,100, but vulnerable if 25,080 is breached."
Hariprasad K, Analyst and Founder, Livelong Wealth

Expert's View On Rupee: RBI Appears To Allow Weakening

"The RBI appears to be allowing gradual weakening of the rupee, intervening selectively to smooth volatility rather than attempting to defend a fixed level. The Indian rupee dropped to new record lows today, trading around 88.80 as multiple external pressures converged. Despite the depreciation, implied volatility in options markets remains relatively modest, suggesting that investor behavior is cautious but not panicked."
Abhishek Goenka, Founder & CEO, IFA Global.
"The Indian rupee fell to record lows of 88.80 as tariff issues and US H-1B visa fees issues continued to rattle the Indian markets with FPIs taking money off the markets continuously sighting that Indian exports will get severely affected by the twin issues. The RBI was conspicuous by its absence in the fall of rupee probably trying to help exporters to some extent to mitigate the after effects of the tariffs on the Indian exports. The Rupee has been at record lows against the three major currencies it trades in mainly viz dollar, pound and the Euro."
Anil Kumar Bhansali, Treasury Head At Finrex

Also Read: Rupee Continues To Fall, Hits New All-Time Low Of 88.73 Against US Dollar

India-US Trade Deal: Piyush Goyal's New York Meeting 'Went Well', Further Talks Likely

Union Commerce Minister Piyush Goyal's trade talk meeting in New York on Monday went "well", NDTV sources confirmed. They added that further meetings could be potentially expected while Commerce Minister is in the US.

Sources also expressed optimism about reaching a bilateral trade deal with the US in the fall, despite the slew of summer hurdles and additional tariff complications introduced by President Donald Trump.

Also Read: India-US Trade Deal: Piyush Goyal's New York Meeting 'Went Well', Further Talks Likely

Stock Market LIVE| Stock Market News: EID Parry Dissolves Alimtec S.A.

E.I.D. Parry India Ltd. dissolved and sold assets of arm Alimtec S.A. The arm has no contributrion to company's revenue and income.

Nifty Sensex Today| Stock Market News: Prime Focus Allots 18.8 Crore Shares At Rs 120 Per Share  

Prime Focus's board allotted 18.8 crore shares at Rs 120 apiece issue price on a preferential basis. It acquires 12.53% stake in Luxembourg's DNEG.

Stock Market News: Govt Denies Vedanta's Application To Extend Production Sharing Contract

Vedanta clarified that the government denied application for extension of production sharing contract of block CB-OS/2. The company is engaging with respective authorities, evaluating resources available to resolve concerns.

Vedanta clarified on reports of government denying extensions for Cambay Basin oil block, the company said in the exchange filing.

Jain Resources Recycling Raises Rs 562 Crore From Anchor Investors Prior To IPO Launch

Jain Resource Recycling Ltd. has raised Rs 562.5 crore from anchor investors on Tuesday, ahead of its initial public offering. The company allotted 2.42 crore shares at Rs 232 apiece to 40 anchor investors.

Goldman Sachs Funds- Goldman Sachs India Equity Portfolio got the highest allocation of 10.67%. Axis Mutual Fund Trustee Ltd.'s fund got the second highest allotment of 9.60% and HDFC Mutual Fund- HDFC Manufacturing Fund got 8.89% stake in the company.

Also Read: Jain Resources Recycling Raises Rs 562 Crore From Anchor Investors Prior To IPO Launch

Oil Prices Rise For Second Day On Geopolitical Tension, Supply Concern

Oil prices rose for a second session on Wednesday after US President Donald Trump continue his rhetoric on Russia and as a deal to resume oil exports from Iraq's Kurdistan did not come through.

Brent crude was trading flat at $67.86 a barrel as of 6:59 a.m.

Also Read: Oil Extends Gain On Rising Risks To Russian Crude, Diesel Supply

Asia Markets LIVE: Nikkei 225 & KOSPI Fall After Fed Chair Says Stocks Overvalued 

Markets in Japan, Australia, and South Korea fell, tracking a Wall Street decline, after the US Federal Reserve Chair Jerome Powell said that stocks are overvalued. He also said that that path to rate reduction is nit clear.

The Nikkei 225 and KOSPI were trading 0.11% and 0.47% down, respectively as of 6:53 a.m. The S&P ASX 200 was trading 0.73% down.

Also Read: Asian Stocks Edge Lower After Mixed Fed Signals: Markets Wrap

Stock Market LIVE: GIFT Nifty Hints At Negative Open; Infosys, Minda Corp, HCLTech, Swiggy Shares In Focus

The GIFT Nifty was trading 0.11% or 28 points down at 25,216.50 as of 6:31 a.m. This implied that the NSE Nifty 50 will likely open on negative note.

Traders will keep an eye on Infosys Ltd., Minda Corp Ltd., HCLTech Ltd., ICICI Bank Ltd., and Tech Mahindra Ltd. in Wednesday's session.

The Nifty 50 and Sensex ended slightly lower on Tuesday, tracking a decline in HDFC Bank Ltd., and ICICI Bank Ltd. The indices closed 0.13% and 0.07% down, respectively.

Also Read: Trade Setup For Sept 24: Nifty Sees Immediate Resistance At 25,500–25,600

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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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