Nifty above 23,350; FMCG shares advance
At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 443.60 points or 0.60% to 74,738.56. The Nifty 50 index rose 46.20 points or 0.20% to 23,394.00.
In the broader market, the BSE 150 MidCap Index added 0.07% and the BSE 250 SmallCap Index rose 0.12%.
The market breadth was positive. On the BSE, 2,082 shares rose and 2,018 shares fell. A total of 278 shares were unchanged.
Initial Public Offer (IPO):
National Stock Exchange of India (NSE) received bids for 14,00,73,400 shares as against 8,86,42,911 shares on offer, according to stock exchange data at 11:03 IST on 21 September 2026. The issue was subscribed 1.58 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 1,700 and 1,785 per share. An investor can bid for a minimum of 8 equity shares and multiples thereof.
Sonaselection India received bids for 1,19,57,550 shares as against 1,00,10,000 shares on offer, according to stock exchange data at 11:09 IST on 21 September 2026. The issue was subscribed 1.19 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 FMCG index rose 1.06% to 45,947.25. The index fell 0.23% in the past trading session.
Patanjali Foods (up 4.71%), Marico (up 2.62%), Emami (up 1.86%), United Spirits (up 1.58%), Tata Consumer Products (up 1.48%), ITC (up 1.45%), Varun Beverages (up 1.36%), Hindustan Unilever (up 1.1%), Godrej Consumer Products (up 0.36%) and Britannia Industries (up 0.16%) jumped.
Global Markets:
Dow Jones futures were up 205 points on Monday, as investors assessed developments ahead of US President Donald Trump's meeting with Chinese President Xi Jinping in Washington later this week.
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held preparatory talks in New York over the weekend, covering trade, tariffs, critical minerals and artificial intelligence. The discussions also included a proposed mechanism for notifying each other about AI incidents with potential national security implications.
Investor sentiment was also supported by easing crude oil prices and signs of possible diplomatic engagement between Washington and Tehran. Trump said he was open to meeting Iranian President Masoud Pezeshkian during the United Nations General Assembly in New York this week. However, tensions remained elevated after Iran and the US exchanged threats over the weekend, while Yemen's Iran-backed Houthis launched missile and drone attacks on Saudi Arabia, including targets in Riyadh and near the country's oil infrastructure.
Most Asian indices advanced on Monday, led by technology and semiconductor stocks as strong demand for artificial intelligence infrastructure supported chipmakers. Easing oil prices also provided some relief to markets, although crude remained above $100 a barrel and geopolitical risks continued to weigh on the outlook. The Japanese market is closed for a holiday.
Brent crude fell below $104 a barrel as investors focused on signs of a recovery in Saudi oil shipments. Reports indicated that Saudi Arabia was seeking to restore flows through its East-West pipeline after the route was damaged in recent attacks. Saudi crude exports have already recovered to more than 4 million barrels per day in September from 2.4 million barrels per day in August, according to provisional Kpler data. However, the ongoing Houthi attacks and disruption to regional shipping routes remain a risk to global oil supplies.
Wall Street ended mixed on Friday. The Dow Jones Industrial Average fell 0.18%, while the S&P 500 gained 0.17% and the Nasdaq Composite rose 0.40%. Semiconductor stocks supported the Nasdaq and S&P 500, while broader weakness weighed on the Dow. US Treasury yields moved above 5% during the session, adding to concerns over inflation and the outlook for interest rates.
The upcoming Trump-Xi summit remains a key focus for global markets. Trade tariffs are expected to be a major issue, with the existing US-China trade truce due to expire in November. Discussions are also expected to cover critical minerals and AI, both of which have become increasingly important to the technology supply chain. The latest preparatory talks produced an agreement to establish an AI dialogue and operationalise a previously discussed Board of Trade mechanism.
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