Bulls hit speed bump as FII outflows and H-1B jitters weigh
Domestic equities extended their losing streak for the fourth straight session on Wednesday, with the Nifty slipping below the 25,100 mark as weakness in private banks, auto and IT stocks dragged the benchmarks lower. Investor sentiment remained fragile amid worries over changes in U.S. H-1B visa rules and persistent foreign fund outflows, which overshadowed hopes of a festive-season boost to consumption. Profit booking has also set in post-GST reforms as traders recalibrate valuations ahead of Q2 earnings.
The S&P BSE Sensex declined 386.47 points or 0.47% to 81,715.63. The Nifty 50 index lost 112.60 points or 0.45% to 25,056.90. In four sessions, the Sensex has slumped 1.56% and the Nifty has declined 1.44%.
Tata Motors (down 2.67%), ICICI Bank (down 0.9%) and HDFC Bank (down 0.74%) dragged the Nifty lower today.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.51% and the S&P BSE Small-Cap index slipped 0.85%.
The market breadth was weak. On the BSE, 1,604 shares rose and 2,568 shares fell. A total of 165 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.96% to 10.52.
Numbers to Track:
The yield on India's 10-year benchmark federal paper added 0.25% to 6.483 from the previous close of 6.467.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.7200 compared with its close of 88.7300 during the previous trading session.
MCX Gold futures for 3 October 2025 settlement declined 0.54% to Rs 1,13,221.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.46% to 97.68.
The United States 10-year bond yield fell 0.12% to 4.115.
In the commodities market, Brent crude for November 2025 settlement added 62 cents or 0.92% to $68.25 a barrel.
Global Markets:
European indices declined while Asian shares ended mixed on Wednesday, mirroring losses on Wall Street after U.S. Federal Reserve Chair Jerome Powell remarked that equity prices were fairly highly valued.
He also cautioned that the path for future rate cuts remained uncertain, describing the situation as challenging.
Overnight in the U.S., all three major indices ended lower. The S&P 500 slipped 0.55% to 6,656.92, retreating after hitting a fresh intraday high and a record close earlier in the week, as concerns grew over the durability of the artificial intelligence rally.
The Nasdaq Composite dropped nearly 1% to 22,573.47, weighed down by declines in AI-related stocks such as Nvidia, Oracle, and Amazon. Meanwhile, the Dow Jones Industrial Average edged down 88.76 points, or 0.19%, to close at 46,292.78.
New Listing:
Shares of VMS TMT were at Rs 99.75 on the BSE, representing a premium of 0.76% compared with the issue price of Rs 99.
The scrip was listed at Rs 105, reflecting a premium of 6.06% to the issue price. The stock has hit a high of Rs 105 and a low of Rs 99.75. On the BSE, over 8.02 lakh shares of the company were traded in the counter.
Stocks in Spotlight:
Tata Motors slipped 2.61% after media reports said Jaguar Land Rover (JLR), its UK-based luxury car subsidiary, will keep its factories closed until October 1. The shutdown follows a cyberattack on 31 August 2025 that has crippled JLR's IT systems and brought production to a halt. The incident, widely believed to be a ransomware assault, has disrupted operations not only in the UK but also at facilities in China, Slovakia, Brazil and India. Losses are estimated at 50 million pounds ($68 million) a week.
Minda Corporation surged 8.42% after investors cheered the company?s bold new growth blueprint, dubbed Vision 2030. The presentation, unveiled at an investor meet in Pune on 23 September 2025, highlighted the company?s strategy to scale revenue from Rs 5,056 crore in FY25 to over Rs 17,500 crore by FY30 while keeping debt under tight control. Management also reaffirmed its commitment to improving margins with a target EBITDA of more than 12.5%. Exports are projected to soar from Rs 420 crore in FY25 to more than Rs 1,500 crore by FY30, implying a compounded annual growth rate of 37%
Swan Defence and Heavy Industries hit an upper limit of 5% after the company signed a pact with European offshore oil and gas vessel leader Royal IHC. The agreement, also involving Alar Infrastructure, the Indian representative of Royal IHC, aims to develop and retrofit offshore construction vessels, pipe laying vessels, and multi-purpose offshore support vessels at Swan Defence and Heavy Industries (SDHI)'s Pipavav Port, Gujarat shipyard.
Larsen & Toubro (L&T) added 0.55%. The company said that it has formed a strategic partnership with Bharat Electronics (BEL) to support Advanced Medium Combat Aircraft (AMCA) programme of the Indian Air Force.
Bajaj Electricals advanced 2.51% after the company said that its board has approved a proposal for the acquisition of 'Morphy Richards? brand and related intellectual property rights for five territories. The 'Morphy Richards? brand rights are being acquired from Glen Electric, which is a part of the Ireland-based Glen Dimplex Group. The territories for which the brand rights have been acquired include India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka. The total cost of the aforementioned acquisition is Rs 146 crore.
Jupiter Wagons slipped 1.18%. The company?s board has approved the appointment of Vinod Kumar Agarwal as the chief financial officer (CFO) with effect from 24th September 2025.
Lemon Tree Hotels added 0.53%. The company has signed two new properties?Keys Prima by Lemon Tree Hotels, Varanasi, and Keys Select by Lemon Tree Hotels, Rewa.
Desco Infratech added 0.60%. The company secured a contract worth Rs 3.96 crore from GAIL Gas a government-owned public sector undertaking.
IPO Update:
Anand Rathi Share and Stock Brokers received bids for 1,44,90,360 shares as against 1,33,63,342 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 1.08 times.
The issue opened for bidding on Tuesday (23 September 2025) and it will close on Thursday (25 September 2025). The price band of the IPO is fixed between Rs 393 and 414 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.
BMW Ventures received bids for 25,25,022 shares as against 2,34,00,000 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 0.11 times.
The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 94 and Rs 99 per share. An investor can bid for a minimum of 151 equity shares and in multiples thereof.
Epack Prefab Technologies received bids for 52,34,319 shares as against 1,76,70,103 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 0.30 times.
The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 194 and Rs 204 per share. An investor can bid for a minimum of 73 equity shares and in multiples thereof.
Jain Resource Recycling received bids for 2,27,14,048 shares as against 3,12,49,999 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 0.73 times.
The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 220 and Rs 232 per share. An investor can bid for a minimum of 64 equity shares and in multiples thereof.
Seshaasai Technologies received bids for 4,21,30,865 shares as against 1,37,67,095 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 3.06 times.
The issue opened for bidding on Tuesday (23 September 2025) and it will close on Thursday (25 September 2025). The price band of the IPO is fixed between Rs 402 and 423 per share. An investor can bid for a minimum of 35 equity shares and in multiples thereof.
Solarworld Energy Solutions received bids for 3,18,26,424 shares as against 80,93,092 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 3.93 times.
The issue opened for bidding on Tuesday (23 September 2025) and it will close on Thursday (25 September 2025). The price band of the IPO is fixed between Rs 333 and 351 per share. An investor can bid for a minimum of 42 equity shares and in multiples thereof.
Jaro Institute of Technology Management and Research received bids for 72,21,376 shares as against 37,23,404 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 1.94 times.
The issue opened for bidding on Tuesday (23 September 2025) and it will close on Thursday (25 September 2025). The price band of the IPO is fixed between Rs 846 and 890 per share. An investor can bid for a minimum of 16 equity shares and in multiples thereof.
Ganesh Consumer Products received bids for 2,37,42,118 shares as against 89,12,228 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 2.66 times.
The issue opened for bidding on Monday (22 September 2025) and it will close on Wednesday (24 September 2025). The price band of the IPO is fixed between Rs 306 and 322 per share. An investor can bid for a minimum of 46 equity shares and in multiples thereof.
Atlanta Electricals received bids for 46,13,54,732 shares as against 65,38,439 shares on offer, according to stock exchange data at 16:45 IST on Wednesday (24 September 2025). The issue was subscribed 70.56 times.
The issue opened for bidding on Monday (22 September 2025) and it will close on Wednesday (24 September 2025). The price band of the IPO is fixed between Rs 718 and 754 per share. An investor can bid for a minimum of 19 equity shares and in multiples thereof.
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