Nifty above 24,650; metal shares in demand

The frontline benchmarks continued to trade with modest gains in the mid-morning trade as investors remained cautious ahead of the Reserve Bank of India?s (RBI) monetary policy decision on Wednesday. The Nifty traded above the 24,650 mark, while metal stocks advanced after declining in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 38.49 points or 0.05% to 80,403.43. The Nifty 50 index rose 19.10 points or 0.08% to 24,654.

In the broader market, the S&P BSE Mid-Cap index shed 0.06% and the S&P BSE Small-Cap index rose 0.08%.

The market breadth was positive. On the BSE, 2,077 shares rose and 1,721 shares fell. A total of 192 shares were unchanged.

IPO Update:

Pace Digitek received bids for 2,13,32,416 shares as against 2,76,06,555 shares on offer, according to stock exchange data at 11:00 IST on Tuesday (30 September 2025). The issue was subscribed 0.77 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.

Glottis received bids for 1,09,78,656 shares as against 2,01,23,929 shares on offer, according to stock exchange data at 11:06 IST on Tuesday (30 September 2025). The issue was subscribed 0.55 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 1,35,38,004 shares as against 79,16,945 shares on offer, according to stock exchange data at 11:06 IST on Tuesday (30 September 2025). The issue was subscribed 1.71 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 96,84,525 shares as against 1,20,60,000 shares on offer, according to stock exchange data at 11:08 IST on Tuesday (30 September 2025). The issue was subscribed 0.80 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.

Advance Agrolife received bids for 15,58,800 shares as against 1,35,09,004 shares on offer, according to stock exchange data at 11:08 IST on Tuesday (30 September 2025). The issue was subscribed 0.12 times.

The issue opened for bidding on Tuesday (30 September 2025) and it will close on Friday (3 October 2025). The price band of the IPO is fixed between Rs 95 and Rs 100 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Metal index gained 1.11% to 10,045.20. The index dropped 1.14% in the three consecutive trading sessions.

Hindustan Copper (up 3.11%), National Aluminium Company (up 2.8%), Hindustan Zinc (up 2.35%), Jindal Steel (up 1.93%) and Vedanta (up 1.8%), JSW Steel (up 1.76%), Lloyds Metals & Energy (up 1.43%), Hindalco Industries (up 1.41%), Jindal Stainless (up 1.36%) and Steel Authority of India (up 0.91%) gained.

On the other hand, APL Apollo Tubes (down 0.37%) and Welspun Corp (down 0.34%), edged lower.

Stocks in Spotlight:

Oriental Rail Infrastructure advanced 1.61% after the company announced that it has received an order worth Rs 4.43 crore from the Modern Coach Factory (MCF), Raebareli, a unit of Indian Railways.

DCX Systems added 2.55% after it has received purchase orders totalling approximately Rs 49.89 crore from its customers as part of its regular business operations.

Global Markets:

Asian market traded mixed on Tuesday as China?s official reading showed manufacturing activity contracted for a sixth straight month.

The Chinese Manufacturing Purchasing Managers? Index came in at 49.8, data from the National Bureau of Statistics showed. While still in contraction, the latest reading was the strongest since March.

Meanwhile, private surveyor RatingDog?s manufacturing purchasing managers? index came in at 51.2 for September, marking its highest level since May.

Investors are also awaiting the Reserve Bank of Australia?s (RBA) interest rate decision later in the day. As per media reports, the RBA is expected to hold its cash rate steady at 3.6% as high inflation has restricted its ability to loosen monetary policy.

U.S. markets remained cautious as the risk of a government shutdown grew, with Vice President JD Vance warning that talks between President Trump and Democrats had stalled.

A closure would delay key jobs data, leaving the Labor Department?s JOLTS report on August openings as the main focus ahead of Friday?s September employment report.

Overnight stateside, the three major averages closed higher. The S&P 500 rose as Wall Street regained some of its footing after a week in which the artificial intelligence trade lost a bit of steam.

The broad market index climbed 0.26% to finish at 6,661.21, and the Nasdaq Composite advanced 0.48% to close at 22,591.15. The Dow Jones Industrial Average settled up 68.78 points, or 0.15%, at 46,316.07.

Powered by Capital Market - Live News