Benchmark trade sideways; PSU bank shares advance
PSU Bank shares recovered after declining for the previous two consecutive trading sessions.
At 11:25 IST, the barometer index, the S&P BSE Sensex advanced 131.54 points or 0.18% to 72,660.61. The Nifty 50 index declined 34.65 points or 0.15% to 22,681.55.
In the broader market, the BSE 150 MidCap Index declined 0.12% and the BSE 250 SmallCap Index fell 0.07%.
The market breadth was positive. On the BSE, 2,220 shares rose and 1,807 shares fell. A total of 250 shares were unchanged.
The United States 10-year bond yield fell 0.65% to 5.226. Brent crude for November 2026 settlement added 61 cents or 0.59% to $103.20 a barrel.
IPO Update:
NItyas Gems & Jewellery received bids for 11,58,400 shares as against 1,44,56,000 shares on offer, according to stock exchange data at 11:25 IST on 30 September 2026. The issue was subscribed 0.08 times.
The issue opened for bidding on 30 September 2026 and will close on 5 October 2026. The price band of the IPO is fixed between Rs 70 and 75 per share. An investor can bid for a minimum of 200 equity shares and multiples thereof.
Vishal Nirmiti received bids for 1,64,968 shares as against 84,71,153 shares on offer, according to stock exchange data at 11:25 IST on 30 September 2026. The issue was subscribed 0.02 times.
The issue opened for bidding on 30 September 2026 and will close on 5 October 2026. The price band of the IPO is fixed between Rs 208 and 220 per share. An investor can bid for a minimum of 68 equity shares and multiples thereof.
Shah Investors? Home received bids for 1,04,23,805 shares as against 37,79,440 shares on offer, according to stock exchange data at 11:25 IST on 30 September 2026. The issue was subscribed 2.76 times.
The issue opened for bidding on 28 September 2026 and will close on 30 September 2026. The price band of the IPO is fixed between Rs 159 and 167 per share. An investor can bid for a minimum of 85 equity shares and multiples thereof.
SRIT India received bids for 16,44,33,095 shares as against 1,17,60,000 shares on offer, according to stock exchange data at 11:25 IST on 30 September 2026. The issue was subscribed 13.98 times.
The issue opened for bidding on 28 September 2026 and will close on 30 September 2026. The price band of the IPO is fixed between Rs 123 and 130 per share. An investor can bid for a minimum of 115 equity shares and multiples thereof.
Buzzing index:
The Nifty PSU bank index jumped 1.32% to 8077.90. The index fell 3.88% in the past two trading sessions.
Union Bank of India (up 3.61%), Bank of Baroda (up 2.67%), Indian Bank (up 1.69%), UCO Bank (up 1.48%) and Central Bank of India (up 1.36%), Bank of India (up 1.29%), Canara Bank (up 1.23%), Bank of Maharashtra (up 1.06%), Punjab National Bank (up 1.03%) and Punjab & Sind Bank (up 0.95%) advanced.
Stock in Spotlight:
HEG Advanced Materials added 1.73% after the company said that Replus Engitech has signed a memorandum of understanding (MoU) with Indus Towers for exploring BESS solutions for telecom infrastructure in India.
Global Market:
US Dow Jones index futures were up 184 points on Wednesday, pointing to a higher opening for US stocks.
Asian stocks traded higher on Wednesday, while Asian currencies remained under pressure from rising global bond yields, higher oil prices and US-Iran tensions.
US stocks ended slightly lower on Tuesday as government bond yields continued to rise ahead of key inflation and labour market data, while investors assessed comments from Federal Reserve officials for clues on the interest-rate outlook.
The Dow Jones Industrial Average declined 131.59 points, or 0.26%, to 51,349.92, while the S&P 500 fell 12.85 points, or 0.17%, to 7,670.84. The Nasdaq Composite declined 22.84 points, or 0.08%, to 26,797.54.
Longer-dated US Treasury yields rose, with the 30-year bond yield hitting 5.6206%, its highest level since June 2002. The benchmark 10-year Treasury yield climbed to 5.293%, its highest level since June 2007.
The 30-year fixed mortgage rate rose to 7.58% on Tuesday. This was the highest level in the current series since November 2023.
Expectations for at least a 25-basis-point Fed rate hike at the October meeting fell to 51.5% from nearly 70% earlier in the session, according to CME FedWatch. This was after New York Fed President John Williams said the central bank had time to assess incoming data before deciding on another rate increase.
US job openings fell by 256,000 to 7.079 million in August, the lowest level in five months, while the Conference Board's consumer confidence index fell 6.7 points to 81.9 in September, its lowest level since 2014.
Crude oil prices fell as concerns over supply disruptions eased following signs of a recovery in Saudi Arabia's crude exports from its Red Sea ports after repairs to a key pipeline. Uncertainty over the reopening of the Strait of Hormuz continued amid the US-Iran conflict.
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