Nifty regains 23,300 mark, midcaps, smallcaps gain

The key equity barometers firmed up further in early afternoon trade, supported by easing crude oil prices and softer global bond yields. Market sentiment also received a boost after Moody?s raised its India FY27 GDP growth forecast to 7%, citing the resilience of the domestic economy despite ongoing geopolitical tensions in West Asia. The Nifty regained the 23,300 mark. Tata Group stocks remained under pressure amid profit-takin

At 12:25 IST, the S&P BSE Sensex was up 141.87 points, or 0.19%, at 74,456.46. The Nifty 50 index was up 40.95 points, or 0.18%, at 23,311.85.

In the broader market, the Nifty Midcap 100 index rose 0.48%. The Nifty Smallcap 100 index rose 1.03%.

On the NSE, 2169 shares were trading in green, while 1198 shares were trading in red. A total of 99 shares were unchanged.

The Bank of Japan raised its policy interest rate by 25 basis points to 1.25%, the highest level in 31 years, in a widely anticipated move aimed at containing inflation. The decision was approved by a 7-2 vote, with board members Toichiro Asada and Ayano Sato dissenting. Governor Kazuo Ueda was scheduled to explain the decision at a press conference later on Friday.

Economy:

Moody?s Ratings raised its India GDP growth forecast for FY27 to 7% from 6%, citing stronger-than-expected economic momentum and resilience to disruptions from the Middle East conflict. India?s real GDP growth accelerated to 8.2% YoY in the first six months of calendar 2026, supported by stronger private consumption, robust investment and sustained strength in services. Moody?s retained India?s Baa3 sovereign rating with a stable outlook. The review, completed on 10 September, did not constitute a rating action.

Derivatives:

The NSE's India VIX, which gauges expected near-term market volatility, dropped 4.88% to 11.69.

The Nifty 29 September 2026 futures traded at 23,350, a premium of 38.15 points over the spot level of 23,311.85.

The Nifty option chain for the 29 September 2026 expiry showed maximum call open interest of 1,64,291 contracts at the 24,000 strike, while maximum put open interest stood at 1,12,337 contracts at the 23,000 strike.

Buzzing Segment:

Tata Group stocks declined on Friday, 18 September 2026, after advancing in the previous session, as investors reacted to the latest developments at the group's holding company, Tata Sons.

Tata Motors Passenger Vehicles declined 3.35%, followed by Tata Consultancy Services, which fell 2.85%. Titan Company slipped 1.03%, while Voltas declined 0.39%. Tata Power Company fell 0.36%, Tata Consumer Products shed 0.30%, Trent declined 0.14% and Tata Steel edged down 0.09%.

On the other hand, Indian Hotels Company gained 1.43%, while Tata Motors Commercial Vehicles rose 0.31%.

The moves came after the Tata Sons board on Thursday approved a further five-year term for N Chandrasekaran as executive chairman. The decision followed Chandrasekaran's announcement in August that he would not seek reappointment when his current term ends on 20 February 2027.

Tata Trusts, which holds about 66% of Tata Sons, opposed the reappointment. Tata Trusts Chairman Noel Tata voted against the resolution and subsequently said the decision was a legal nullity under the Articles of Association of Tata Sons. The Trusts said its nominee directors' approval was required for the appointment or reappointment of the chairman.

The Tata Sons board also moved ahead with steps related to complying with Reserve Bank of India requirements that could lead to a listing of the holding company. Tata Trusts has opposed the listing proposal, adding another point of disagreement between the two sides.

The developments have raised uncertainty around the governance and future structure of Tata Sons.

Stock in Spotlight:

Hitachi Energy India rose 2.62% to Rs 32019.95 after global brokerage gave a 'Buy' rating on the stock and set a price target of Rs 45,790. In its note, the broker said the management was confident that spending on power transmission and distribution (T&D) would remain a multi-year growth story in India.

Powered by Capital Market - Live News