Nifty below 23,250; metal shares lose sheen
At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 687.83 points or 0.92% to 74,155.56. The Nifty 50 index lost 231.90 points or 0.99% to 23,215.20.
In the broader market, the BSE 150 MidCap Index fell 1.08% and the BSE 250 SmallCap Index shed 0.46%.
The market breadth was negative. On the BSE, 1,530 shares rose and 2,464 shares fell. A total of 255 shares were unchanged.
Initial Public Offer (IPO):
A-One Steels India received bids for 9,73,100 shares as against 73,84,934 shares on offer, according to stock exchange data at 11:25 IST on 24 September 2026. The issue was subscribed 0.13 times.
The issue opened for bidding on 24 September 2026 and will close on 28 September 2026. The price band of the IPO is fixed between Rs 385 and 405 per share. An investor can bid for a minimum of 37 equity shares and multiples thereof.
Moneyview received bids for 7,05,91,311 shares as against 23,25,24,175 shares on offer, according to stock exchange data at 11:25 IST on 24 September 2026. The issue was subscribed 0.30 times.
The issue opened for bidding on 24 September 2026 and will close on 28 September 2026. The price band of the IPO is fixed between Rs 32 and 34 per share. An investor can bid for a minimum of 441 equity shares and multiples thereof.
Elevate Campuses received bids for 71,18,092 shares as against 3,36,73,468 shares on offer, according to stock exchange data at 11:25 IST on 24 September 2026. The issue was subscribed 0.21 times.
The issue opened for bidding on 23 September 2026 and will close on 25 September 2026. The price band of the IPO is fixed between Rs 343 and 362 per share. An investor can bid for a minimum of 41 equity shares and multiples thereof.
Adroit Industries (India) received bids for 6,92,44,353 shares as against 78,72,900 shares on offer, according to stock exchange data at 11:25 IST on 24 September 2026. The issue was subscribed 8.80 times.
The issue opened for bidding on 23 September 2026 and will close on 25 September 2026. The price band of the IPO is fixed between Rs 126 and 134 per share. An investor can bid for a minimum of 111 equity shares and multiples thereof.
Swastika Infra received bids for 73,58,121 shares as against 63,35,001 shares on offer, according to stock exchange data at 11:25 IST on 24 September 2026. The issue was subscribed 1.16 times.
The issue opened for bidding on 23 September 2026 and will close on 25 September 2026. The price band of the IPO is fixed between Rs 175 and 185 per share. An investor can bid for a minimum of 81 equity shares and multiples thereof.
ArMee Infotech received bids for 55,82,160 shares as against 74,30,356 shares on offer, according to stock exchange data at 11:25 IST on 24 September 2026. The issue was subscribed 0.75 times.
The issue opened for bidding on 23 September 2026 and will close on 25 September 2026. The price band of the IPO is fixed between Rs 350 and 375 per share. An investor can bid for a minimum of 40 equity shares and multiples thereof.
Varmora Granito received bids for 1,19,08,405 shares as against 3,39,02,899 shares on offer, according to stock exchange data at 11:25 IST on 24 September 2026. The issue was subscribed 0.35 times.
The issue opened for bidding on 22 September 2026 and will close on 24 September 2026. The price band of the IPO is fixed between Rs 140 and 148 per share. An investor can bid for a minimum of 101 equity shares and multiples thereof.
Buzzing Index:
The Nifty Metal index fell 1.07% to 13,159.50. The index fell 2.54% in the past two trading sessions.
Hindalco Industries (down 1.93%), Hindustan Copper (down 1.82%), Adani Enterprises (down 1.42%), Vedanta (down 1.4%), Lloyds Metals & Energy (down 1.37%), Jindal Steel (down 1.15%), JSW Steel (down 1%), National Aluminium Company (down 0.94%), Tata Steel (down 0.55%) and Jindal Stainless (down 0.54%) fell.
Global Markets:
US Dow Jones index futures were down 113 points on Thursday, pointing to a lower opening for US stocks.
Asian markets traded mostly lower, tracking overnight losses on Wall Street as a sharp rise in US Treasury yields heightened concerns over inflation and interest rates. The 10-year US Treasury yield rose to around 5.11%, its highest level since 2007 and its biggest one-day increase since the market turmoil triggered by US President Donald Trump's April 2025 tariff announcement.
Stronger-than-expected US economic data and weak demand at a $70 billion five-year Treasury auction contributed to the rise in yields. The US private-sector output expanded at its fastest pace in more than five years in September, while price pressures also increased. The S&P Global Flash US Composite PMI rose to 58.4 in September from 56.0 in August, marking its highest level in more than five years.
The rise in Treasury yields increased market expectations of another Federal Reserve interest rate hike and put pressure on global bond markets.
Oil prices remained elevated after Brent crude jumped nearly 4% on Wednesday to settle at $103.08 a barrel, ending a five-day losing streak.
The dollar remained close to its strongest level since late July as investors assessed the changing interest-rate outlook and continued to monitor developments in energy markets.
Wall Street indexes fell on Wednesday as the surge in Treasury yields weighed on equities. The Nasdaq Composite fell 1.1% after posting back-to-back record closes earlier in the week. The Dow Jones Industrial Average declined 0.7%, while the S&P 500 fell 0.8%.
Chinese President Xi Jinping arrived in Washington on Wednesday for a three-day state visit and was welcomed by US President Donald Trump. The two leaders are scheduled to hold talks on Thursday, with trade and artificial intelligence among the issues in focus.
US Treasury Secretary Scott Bessent met Chinese Vice Premier He Lifeng ahead of the summit and said Washington and Beijing had agreed to extend their trade truce by two months, to 10 January 2027.
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