Sensex gains over 253 pts; PSU bank shares in demand

The frontline benchmarks continued to trade with modest gains in the mid-morning trade as the Reserve Bank of India?s (RBI) six-member Monetary Policy Committee (MPC) began its three-day meeting, with investors eyeing potential rate cuts. The Nifty traded above the 24,700 level, while PSU Bank stocks advanced after declining in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 253.11 points or 0.31% to 80,679.57. The Nifty 50 index rose 85.20 points or 0.35% to 24,739.75.

In the broader market, the S&P BSE Mid-Cap index added 0.37% and the S&P BSE Small-Cap index rose 0.15%.

The market breadth was weak. On the BSE, 2,159 shares rose and 1,744 shares fell. A total of 208 shares were unchanged.

The Reserve Bank of India kicked off its three-day monetary policy meeting today, which is set to wrap up on 1 October 2025.

IPO Update:

Pace Digitek received bids for 71,37,008 shares as against 2,76,06,555 shares on offer, according to stock exchange data at 11:00 IST on Monday (29 September 2025). The issue was subscribed 0.26 times.

The issue opened for bidding on Thursday (25 September 2025) and it will close on Tuesday (30 September 2025). The price band of the IPO is fixed between Rs 115 and Rs 121 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.

Jinkushal Industries received bids for 6,61,33,200 shares as against 67,21,048 shares on offer, according to stock exchange data at 11:02 IST on Monday (29 September 2025). The issue was subscribed 9.84 times.

The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 115 and Rs 121 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.

TruAlt Bioenergy received bids for 3,70,99,410 shares as against 1,23,55,424 shares on offer, according to stock exchange data at 11:05 IST on Monday (29 September 2025). The issue was subscribed 3 times.

The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 472 and Rs 496 per share. An investor can bid for a minimum of 30 equity shares and in multiples thereof.

Glottis received bids for 4,55,316 shares as against 2,01,23,929 shares on offer, according to stock exchange data at 11:06 IST on Monday (29 September 2025). The issue was subscribed 0.02 times.

The issue opened for bidding on Monday (29 September 2025) and it will close on Wednesday (1 October 2025). The price band of the IPO is fixed between Rs 120 and Rs 129 per share. An investor can bid for a minimum of 114 equity shares and in multiples thereof.

Om Freight Forwarders received bids for 5,59,440 shares as against 79,16,945 shares on offer, according to stock exchange data at 11:06 IST on Monday (29 September 2025). The issue was subscribed 0.07 times.

The issue opened for bidding on Monday (29 September 2025) and it will close on Friday (3 October 2025). The price band of the IPO is fixed between Rs 128 and Rs 135 per share. An investor can bid for a minimum of 111 equity shares and in multiples thereof.

Fabtech Technologies received bids for 5,97,300 shares as against 1,20,60,000 shares on offer, according to stock exchange data at 11:08 IST on Monday (29 September 2025). The issue was subscribed 0.05 times.

The issue opened for bidding on Monday (29 September 2025) and it will close on Wednesday (1 October 2025). The price band of the IPO is fixed between Rs 181 and Rs 191 per share. An investor can bid for a minimum of 75 equity shares and in multiples thereof.

Buzzing Index:

The Nifty PSU Bank index gained 1.44% to 7,365.90. The index dropped 1.14% in the three consecutive trading sessions.

Bank of India (up 2.54%), Canara Bank (up 2.53%), Bank of Maharashtra (up 2.24%), Punjab National Bank (up 1.81%), Union Bank of India (up 1.69%), Central Bank of India (up 1.6%), Indian Bank (up 1.53%), Bank of Baroda (up 1.33%), UCO Bank (up 1.29%) and Indian Overseas Bank (up 1.2%) gained.

Stocks in Spotlight:

SEPC rose 1.02% after the company received a contract from Avenir International Engineers & Consultants LLC for the execution of engineering services related to various ADNOC (Abu Dhabi National Oil Company) projects.

Azad Engineering added 2.77% after the company announced that it has entered into a new long-term contract and price agreement with Mitsubishi Heavy Industries (MHI), Japan, valued at $73.47 million (Rs 651 crore).

Global Markets:

Asian market traded mostly higher on Monday as investors looked past the latest tariff developments.

Investors braced for a possible shutdown of the U.S. government, which would in turn delay publication of the September payrolls report and a raft of other key data.

President Donald Trump will meet with the top Democratic and Republican leaders in Congress later on Monday to discuss extending government funding. Without a deal, a shutdown would begin on Wednesday, which is also when new U.S. tariffs on heavy trucks, pharmaceuticals, and other items go into effect.

On the data front, China's industrial profits returned to growth in August even as businesses braced for a broader economic slowdown amid persistent demand woes.

Industrial profits rose 20.4% in August from a year earlier, reversing a 1.5% year-on-year decline in July, while profits grew 0.9% in the first eight months compared to a 1.7% decline in the January-July period, National Bureau of Statistics (NBS) data showed on Saturday.

Meanwhile, the Reserve Bank of Australia was set to kickstart its two-day policy meeting, where it is reportedly expected to hold its cash rate steady at 3.6%.

On Friday, all three major averages on Wall Street edged higher following the release of crucial U.S. inflation data.

The Dow Jones Industrial Average advanced 299.97 points, or 0.65%, to close at 46,247.29. The S&P 500 added 0.59% to close at 6,643.70, while the Nasdaq Composite rose 0.44% to settle at 22,484.07.

Friday?s rally snapped a three-day losing streak for the major indexes but still ended the week down. The Nasdaq Composite and S&P 500 slid 0.7% and 0.3%, marking each index?s first losing week in four. The Dow shed 0.2%.

U.S. core inflation held steady in August, keeping the Federal Reserve on track for expected rate cuts. The personal consumption expenditures (PCE) price index rose 0.3% in the month, lifting the annual headline inflation rate to 2.7% from 2.6% in July. Core PCE, which excludes food and energy, increased 0.2% on the month and remained unchanged at 2.9% year-on-year.

Powered by Capital Market - Live News