Barometers largely pare gains; Nifty slips below 23,300 level

The key equity benchmarks pared most of their early gains and traded marginally higher, as easing crude oil prices and softer global bond yields offered support to investor sentiment. Market sentiment was also aided by Moody?s upward revision of India?s FY27 GDP growth forecast to 7%, reflecting the resilience of the domestic economy despite ongoing geopolitical tensions in West Asia. However, the Nifty slipped below the 23,300 mark.

Media shares extended their winning streak, with the sector advancing for the third consecutive trading session.

At 11:25 IST, the barometer index, the S&P BSE Sense advanced 103.52 points or 0.14% to 74,418.11. The Nifty 50 index rose 25 points or 0.11% to 23,295.45.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 0.73% and the BSE 250 SmallCap Index addded 0.95%.

The market breadth was strong. On the BSE, 2,408 shares rose and 1,501 shares fell. A total of 277 shares were unchanged.

In the commodities market, Brent crude for the November 2026 settlement declined $1.38 or 1.32% to $103.44 a barrel.

Initial Public Offer (IPO):

National Stock Exchange of India (NSE) received bids for 4,71,18,056 shares as against 8,86,42,911 shares on offer, according to stock exchange data at 11:03 IST on 18 September 2026. The issue was subscribed 0.53 times.

The issue opened for bidding on 17 September 2026 and will close on 21 September 2026. The price band of the IPO is fixed between Rs 1,700 and 1,785 per share. An investor can bid for a minimum of 8 equity shares and multiples thereof.

Jindal Supreme(India) received bids for 53,29,10,805 shares as against 93,99,600 shares on offer, according to stock exchange data at 11:08 IST on 18 September 2026. The issue was subscribed 56.70 times.

The issue opened for bidding on 16 September 2026 and will close on 18 September 2026. The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 107 equity shares and multiples thereof.

Hero Motors received bids for 36,95,60,752 shares as against 8,86,07,596 shares on offer, according to stock exchange data at 11:08 IST on 18 September 2026. The issue was subscribed 4.17 times.

The issue opened for bidding on 16 September 2026 and will close on 18 September 2026. The price band of the IPO is fixed between Rs 79 and 84 per share. An investor can bid for a minimum of 178 equity shares and multiples thereof.

SS Retail received bids for 11,30,64,735 shares as against 87,93,884 shares on offer, according to stock exchange data at 11:08 IST on 18 September 2026. The issue was subscribed 12.86 times.

The issue opened for bidding on 16 September 2026 and will close on 18 September 2026. The price band of the IPO is fixed between Rs 403 and 424 per share. An investor can bid for a minimum of 35 equity shares and multiples thereof.

Sonaselection India received bids for 57,90,150 shares as against 1,00,10,000 shares on offer, according to stock exchange data at 11:09 IST on 18 September 2026. The issue was subscribed 0.58 times.

The issue opened for bidding on 17 September 2026 and will close on 21 September 2026. The price band of the IPO is fixed between Rs 94 and 99 per share. An investor can bid for a minimum of 150 equity shares and multiples thereof.

Buzzing Index:

The Nifty Media index rallied 1.48% to 1,555.90. The index increased 3.46% in three consecutive trading sessions

PVR Inox (up 3.49%), Nazara Technologies (up 2.61%), Network 18 Media & Investments (up 2.15%), Saregama India (up 2.12%), Prime Focus (up 1.99%), Hathway Cable & Datacom (up 0.1%), Tips Music (up 0.07%) surged.

Stocks in Spotlight:

BEML advanced 3.91% after the company announced that it has secured an order valued at over Rs 5,400 crore from National High Speed Rail Corporation (NHSRCL).

Global Markets:

Most Asian indices traded higher on Friday, following an overnight rally on Wall Street and a drop in crude oil prices.

The Bank of Japan raised its policy rate by 25 basis points to 1.25% from 1%, marking its highest level since 1995. The yen remained weak against the US dollar. The BOJ said the rate hike was aimed at addressing the risk of inflation rising above its 2% target.

In Europe, the Bank of England kept UK interest rates unchanged at 3.75% on Thursday in a 6-3 vote. The central bank maintained a cautious stance, with three policymakers voting for a 25-basis-point increase amid concerns that higher energy prices could generate further inflationary pressure.

US stock market ended higher on Thursday amid easing oil prices, dropping Treasury yields after strong labour data. The Dow Jones Industrial Average rallied 0.61%, while the S&P 500 gained 1.14%. The Nasdaq Composite closed 1.69%.

The rally in US technology stocks lifted the Nasdaq index. Nvidia stock price surged 2.54%, AMD shares jumped 6.36%, Intel share price spiked 7.67%, Apple stock price rose 1.38%, Microsoft shares gained 1.52%, and Amazon share price rallied 2.13%.

Crude oil prices extended losses for a third session on hopes of limited supply disruption. Reports emerged of additional Saudi crude shipments through Oman, easing supply worries.

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