Nifty below 23,550; FMCG shares under pressure
At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 514.80 points or 0.68% to 75,064.64. The Nifty 50 index lost 118.45 points or 0.50% to 23,516.65.
In the broader market, the BSE 150 MidCap Index fell 0.30% and the BSE 250 SmallCap Index shed 0.33%.
The market breadth was negative. On the BSE, 1,703 shares rose and 2,295 shares fell. A total of 231 shares were unchanged.
Initial Public Offer (IPO):
Pranav Constructions received bids for 20,60,29,080 shares as against 2,24,63,137 shares on offer, according to stock exchange data at 11:15 IST on 8 September 2026. The issue was subscribed 9.17 times.
The issue opened for bidding on 7 September 2026 and will close on 9 September 2026. The price band of the IPO is fixed between Rs 118 and 124 per share. An investor can bid for a minimum of 120 equity shares and multiples thereof.
Prasol Chemicals received bids for 9,19,424 shares as against 54,43,229 shares on offer, according to stock exchange data at 11:15 IST on 8 September 2026. The issue was subscribed 0.17 times.
The issue opened for bidding on 8 September 2026 and will close on 10 September 2026. The price band of the IPO is fixed between Rs 643 and 676 per share. An investor can bid for a minimum of 22 equity shares and multiples thereof.
Glass Wall Systems (India) received bids for 1,10,81,808 shares as against 1,64,57,298 shares on offer, according to stock exchange data at 11:15 IST on 8 September 2026. The issue was subscribed 0.67 times.
The issue opened for bidding on 8 September 2026 and will close on 10 September 2026. The price band of the IPO is fixed between Rs 172 and 182 per share. An investor can bid for a minimum of 82 equity shares and multiples thereof.
Kanohar Electricals received bids for 84,44,013 shares as against 1,16,93,326 shares on offer, according to stock exchange data at 11:15 IST on 8 September 2026. The issue was subscribed 0.72 times.
The issue opened for bidding on 8 September 2026 and will close on 10 September 2026. The price band of the IPO is fixed between Rs 601 and 632 per share. An investor can bid for a minimum of 23 equity shares and multiples thereof.
LCC Projects received bids for 64,91,688 shares as against 2,09,27,281 shares on offer, according to stock exchange data at 11:15 IST on 9 September 2026. The issue was subscribed 0.31 times.
The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 139 and 146 per share. An investor can bid for a minimum of 102 equity shares and multiples thereof.
Karamtara Engineering received bids for 47,32,449 shares as against 2,54,14,937 shares on offer, according to stock exchange data at 11:15 IST on 9 September 2026. The issue was subscribed 0.19 times.
The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 241 and 254 per share. An investor can bid for a minimum of 59 equity shares and multiples thereof.
Asset Reconstruction Company (India) received bids for 32,85,435 shares as against 3,69,12,363 shares on offer, according to stock exchange data at 11:15 IST on 9 September 2026. The issue was subscribed 0.09 times.
The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 132 and 139 per share. An investor can bid for a minimum of 107 equity shares and multiples thereof.
Steamhouse India received bids for 38,70,755 shares as against 3,76,36,363 shares on offer, according to stock exchange data at 11:15 IST on 9 September 2026. The issue was subscribed 0.10 times.
The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 77 and 81 per share. An investor can bid for a minimum of 185 equity shares and multiples thereof.
Manipal Payment and Identity Solutions received bids for 7,91,648 shares as against 1,30,60,472 shares on offer, according to stock exchange data at 11:15 IST on 9 September 2026. The issue was subscribed 0.06 times.
The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 322 and 339 per share. An investor can bid for a minimum of 44 equity shares and multiples thereof.
Rentomojo received bids for 67,42,806 shares as against 2,17,72,311 shares on offer, according to stock exchange data at 11:15 IST on 9 September 2026. The issue was subscribed 0.31 times.
The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 384 and 404 per share. An investor can bid for a minimum of 37 equity shares and multiples thereof.
Buzzing Index:
The Nifty FMCG index declined 1.05% to 45,271. The index rose 0.35% in the past trading session.
United Spirits (down 2.16%), Hindustan Unilever (down 1.39%), Dabur India (down 1.35%), Marico (down 1.3%), Varun Beverages (down 1.21%), Colgate-Palmolive (India) (down 1.16%), Radico Khaitan (down 1%), Tata Consumer Products (down 0.81%), ITC (down 0.78%) and Godrej Consumer Products (down 0.69%) tanked.
Stocks in Spotlight:
Organic recycling systems surged 0.64%. The company said that its wholly owned subsidiary, Solapur Bioenergy Systems, secured a Rs 92.41-crore contract from Bharat Petroleum Corporation. The contract is for setting up an organic municipal solid waste-based compressed biogas (CBG) plant in Kozhikode, Kerala.
Coforge tumbled 6.91% after the company announced that its non-executive independent director and chairman, O. P. Bhatt, resigned from the Board with immediate effect on 9 September 2026.
Global Markets:
Most Asian indices were trading higher on Wednesday, with sentiment supported by a rebound in Chinese inflation, although gains remained cautious as investors monitored escalating Middle East tensions and rising crude oil prices.
China?s CPI rose 0.8% year on year in August, accelerating from 0.5% in July, while core CPI increased 1.0% from 0.9% a month earlier. The PPI rose 3.8%, up from 3.5% in July. China?s official data attributed the rise in consumer inflation partly to higher energy prices, while the producer-price increase reflected higher international commodity prices and stronger demand in some high-tech industries.
Oil prices remained a major market concern. Brent crude climbed close to $100 a barrel after attacks on Saudi energy infrastructure by Iran-backed Houthi militants and further US-Iran military escalation. The surge has renewed concerns that higher energy costs could keep inflation elevated and limit central banks' room to cut interest rates.
The geopolitical situation also intensified after the US said its forces destroyed five Iranian oil tankers following an attempted attack on a US Navy vessel. The US Treasury also announced fresh sanctions targeting Iran's aviation sector, adding another layer of pressure on Tehran.
Wall Street ended lower on Tuesday as the rise in crude prices revived inflation concerns. The Dow Jones Industrial Average fell 1.18% to 52,786.07, the S&P 500 declined 0.58% to 7,673.52 and the Nasdaq Composite dropped 0.32% to 26,421.41. The US 10-year Treasury yield also moved near 4.8%.
Markets are now focused on US inflation data due later this week. The August CPI, scheduled for Friday, is expected to provide fresh clues on the Federal Reserve's policy path ahead of its 16-17 September meeting. Rising oil prices have increased concerns that a renewed inflationary push could complicate the Fed's decision on interest rates. Markets were pricing roughly a 60% probability of a rate hike next week.
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