| The key equity indices ended with major losses on Tuesday, reversing early gains as rising bond yields and elevated crude oil prices weighed on investor sentiment. The Nifty closed below the 23,150 mark. Realty, metal and PSU bank stocks declined, while IT stocks bucked the broader market weakness.
As per provisional closing data, the S&P BSE Sensex tanked 777.94 points or 1.04% to 74,003.82. The Nifty 50 index lost 279.50 points or 1.19% to 23,118.60.
In the broader market, the BSE 150 MidCap Index declined 2.17% and the BSE 250 SmallCap Index shed 2.40%.
The market breadth was weak. On the BSE, 1,197 shares rose and 3,286 shares fell. A total of 201 shares were unchanged.
Economy:
India’s consumer price inflation rose to 4.82% in August from 4.45% in July, India’s Ministry of Statistics and Program Implementation said in a Monday release, adding to pressure on the country’s central bank to raise key benchmark rates.
India’s food inflation climbed to 5.95% in August from 5.52% a month ago. Goods transport service inflation rose the sharpest to over 14% in August, while personal transport inflation rose over 7%, the release said. Wholesale price-based inflation rose to 9.92% in August, compared to 9.78% in July, on rising prices of food, manufactured items, and fuel and power.
Inflation in the food index rose to 7.05% in August, from 6.65% in July. In manufactured items, WPI inflation was at a series high of 8.37%, higher than 8.29% in July. In the fuel and power basket, wholesale price index (WPI)-based inflation was 22.93%.
New Listings:
Shares of Pranav Constructions ended at Rs 129.60 on the BSE, representing a premium of 4.52% as compared with the issue price of Rs 124.
The stock debuted at Rs 162 on the BSE, a premium of 30.65% over its issue price.
The stock has hit a high of Rs 164.50 and a low of Rs 129.60. On the BSE, over 65.06 lakh shares of the company were traded in the counter.
Initial Public Offer (IPO):
Veegaland Developers received bids for 11,46,50,607 shares as against 1,13,07,692 shares on offer, according to stock exchange data at 15:15 IST on 15 September 2026. The issue was subscribed 10.14 times.
The issue opened for bidding on 10 September 2026 and will close on 15 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.
Manika Plastech received bids for 15,02,20,116 shares as against 2,13,86,919 shares on offer, according to stock exchange data at 15:15 IST on 15 September 2026. The issue was subscribed 7.02 times.
The issue opened for bidding on 11 September 2026 and will close on 16 September 2026. The price band of the IPO is fixed between Rs 40 and 43 per share. An investor can bid for a minimum of 348 equity shares and multiples thereof.
Buzzing Index:
The Nifty Realty index slipped 4.04% to 814.25. The index tanked 9.33% in the seven consecutive trading sessions.
Prestige Estates Projects (down 5.41%), Godrej Properties (down 5.07%), Lodha Developers (down 4.66%), Oberoi Realty (down 4.17%), Brigade Enterprises (down 4.13%), Aditya Birla Real Estate (down 3.83%), DLF (down 3.67%), Phoenix Mills (down 2.98%), Anant Raj (down 2.08%) and Sobha (down 1.98%) fell.
Stocks in Spotlight:
HeidelbergCement India fell 3.17%. The company said that it has entered into a mine development and production agreement (MDPA) for a period of 50 years with the Department of Mineral Resources, Government of Madhya Pradesh, for the Sukha–Satpara Limestone Block.
Diamond Power Infrastructure was locked in 5% upper circuit after the company announced that it has received a letter of award from Adani Electricity Mumbai (AEML) for a contract worth Rs 179.43 crore.
KEC International shed 0.01%. The company said that it has secured new orders of Rs 1,303 crore across various businesses. The company's transmission & distribution (T&D) business has secured orders for a 400 kV transmission line in Northern India and 380 kV transmission lines in Saudi Arabia. Additionally, it has won a contract to supply towers, hardware, and poles in the Americas.
Afcom Holdings tumbled 6.91%. The company has signed a long-term Aviation Fuel Supply Agreement with Hindustan Petroleum Corporation (HPCL). Under the agreement, HPCL will supply Jet A-1 aviation turbine fuel to support Afcom's operational requirements across HPCL's pan-India aviation fuelling network.
Jubilant FoodWorks slipped 1.28%. The company said that Virender Singh Sehrawat, executive vice president & head of integrated supply chain and senior management personnel (SMP) of the company, has resigned from the services of the company on 10 September 2026.
Aurobindo Pharma shed 0.63%. The company said that it has received final approval from the US Food & Drug Administration (US FDA) to manufacture and market Beclomethasone Dipropionate HFA Inhalation Aerosol.
Yash High-voltage shed 0.06%. The company said that its US subsidiary entered into a strategic representation agreement. YASH HV USA INC. signed the agreement with Ensales Electrical Associates, Inc., on 11 September 2026. The agreement will remain valid for 36 months.
Global Markets:
European equities slipped while Asian indices ended lower on Tuesday after Wall Street ended lower overnight as investors weighed concerns over the pace of artificial intelligence development, rising oil prices and higher US Treasury yields. Market participants were also cautious ahead of the Federal Reserve's policy meeting this week.
AI-related technology stocks remained under pressure after senior industry figures called for a slower pace of AI development amid concerns over the risks associated with rapidly advancing AI systems. Anthropic CEO Dario Amodei, OpenAI CEO Sam Altman, and other technology leaders have backed calls for greater caution, triggering a sell-off in AI-linked shares. The weakness was particularly pronounced in semiconductor stocks.
Markets were also unsettled by renewed concerns over Middle East energy supplies. Oil prices rose after attacks on Saudi Arabian energy infrastructure disrupted the kingdom's East-West pipeline. Brent crude was around $106.96 a barrel on Tuesday. The higher oil prices have raised concerns that persistent energy inflation could complicate monetary policy decisions.
US Treasury yields added to the pressure. The 10-year Treasury yield briefly crossed 5% on Monday for the first time since 2023. Higher yields increase borrowing costs and can put pressure on equity valuations, particularly growth and technology stocks.
Investors are now focused on the Federal Reserve's meeting scheduled for this week. Markets are pricing in roughly a 90% probability of a 25-basis-point rate hike, which would be the first increase since 2023.
On Wall Street, the Dow Jones Industrial Average fell 0.29% to 52,421.17 on Monday. The S&P 500 declined 0.48% to 7,619.94, while the Nasdaq Composite slipped 0.56% to 26,186.41. The declines followed selling in chipmakers and other AI-linked stocks, although gains in some non-AI sectors limited the broader market losses. |