NIFTY India Mfg

Benchmark indices Nifty 50 and Sensex continued trading in the red in the afternoon session on Wednesday, September 24, after weak global cues stemming from cautious US Federal Reserve commentary dragged the sentiment.

At 11:56 a.m., the <a href="https://www.moneycontrol.com/indian-indices/sensex-4.html">Sensex</a> was down 353.36 points or 0.43 percent at 81,748.74, and the Nifty was down 98.40 points or 0.39 percent at 25,071.10. About 1434 shares advanced, 2146 shares declined, and 157 shares unchanged.

Federal Reserve Chair Jerome Powell, in his speech yesterday, said that equity prices are fairly highly valued. He said near-term risks to inflation were tilted to the upside and risks to employment to the downside. This sparked global weakness in markets.

Further, not just weak commentary from Powell, but also a series of headwinds are impacting the Indian markets: sustained foreign institutional investor selling pressured Indian markets, driven by concerns over Trump's proposed $100,000 H-1B visa fee and uncertainty surrounding India-US trade negotiations.

IT stocks bore the brunt of the selloff as investors factored in potential margin compression risks for outsourcing companies. <a href="https://www.moneycontrol.com/news/business/markets/it-stocks-extend-slide-as-us-proposes-to-change-h-1b-visa-process-coforge-tech-mahindra-lead-losses-13573296.html">Shares of IT companies extended losses</a> after the US President Donald Trump-led administration proposed major changes to the H-1B visa process.

At 12 noon, sectoral trends on the NSE were mixed with pressure seen across most indices. Realty was the top laggard, down 2.28 percent, extending its year-to-date losses to over 15 percent. IT stocks also remained weak, slipping 0.88 percent for the day and nearly 19 percent so far this year. Auto fell 0.73 percent, while Metal and Infra indices saw marginal declines of 0.17 percent and 0.14 percent, respectively. Energy and Pharma stayed largely flat with minor cuts.

On the other hand, FMCG managed a 0.29 percent uptick, and PSU Banks led the gainers with a 0.39 percent rise, adding to their strong double-digit gains for 2024.

For the Nifty, the immediate resistance is placed at 25,100, where aggressive call writing is capping any upside, while 25,050–25,000 remains the key support zone. "A decisive break below this band could accelerate declines toward 24,950–24,850. On the upside, 25,300 now stands as a heavy psychological ceiling—its breach could spark swift short-covering and sharp relief rallies," noted Ponmudi R, CEO of Enrich Money.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-24-09-2025-liveblog-13572159.html">Follow our market blog to catch all the live updates</a>

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Nifty falls for fourth session, Sensex under 82,000 as Fed chair speech, visa woes weigh

Benchmark indices Nifty 50 and Sensex continued trading in the red in the afternoon session on Wednesday, September 24, after weak global cues stemming from cautious US Federal Reserve commentary dragged the sentiment.

At 11:56 a.m., the Sensex was down 353.36 points or 0.43 percent at 81,748.74, and the Nifty was down 98.40 points or 0.39 percent at 25,071.10. About 1434 shares advanced, 2146 shares declined, and 157 shares unchanged.

Federal Reserve Chair Jerome Powell, in his speech yesterday, said that equity prices are fairly highly valued. He said near-term risks to inflation were tilted to the upside and risks to employment to the downside. This sparked global weakness in markets.

Further, not just weak commentary from Powell, but also a series of headwinds are impacting the Indian markets: sustained foreign institutional investor selling pressured Indian markets, driven by concerns over Trump's proposed $100,000 H-1B visa fee and uncertainty surrounding India-US trade negotiations.

IT stocks bore the brunt of the selloff as investors factored in potential margin compression risks for outsourcing companies. Shares of IT companies extended losses after the US President Donald Trump-led administration proposed major changes to the H-1B visa process.

At 12 noon, sectoral trends on the NSE were mixed with pressure seen across most indices. Realty was the top laggard, down 2.28 percent, extending its year-to-date losses to over 15 percent. IT stocks also remained weak, slipping 0.88 percent for the day and nearly 19 percent so far this year. Auto fell 0.73 percent, while Metal and Infra indices saw marginal declines of 0.17 percent and 0.14 percent, respectively. Energy and Pharma stayed largely flat with minor cuts.

On the other hand, FMCG managed a 0.29 percent uptick, and PSU Banks led the gainers with a 0.39 percent rise, adding to their strong double-digit gains for 2024.

For the Nifty, the immediate resistance is placed at 25,100, where aggressive call writing is capping any upside, while 25,050–25,000 remains the key support zone. &quot;A decisive break below this band could accelerate declines toward 24,950–24,850. On the upside, 25,300 now stands as a heavy psychological ceiling—its breach could spark swift short-covering and sharp relief rallies,&quot; noted Ponmudi R, CEO of Enrich Money.

Follow our market blog to catch all the live updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

The benchmark equity indices fell on Wednesday as sustained foreign fund outflows and concerns over proposed changes in the US H-1B visa system weighed on investor sentiment.

At around 11:15 a.m., Sensex declined 483.15 points or 0.59 percent to 81,618.95, while the broader Nifty dropped to 25,031.50, down 138 points or 0.55 percent.

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/techmahindra/TM4" target="_blank">Tech Mahindra</a>, Wipro, Tata Motors, HDFC Bank and <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/icicibank/ICI02" target="_blank">ICICI Bank</a> were among key laggards, declining up to 2 percent intraday.

Key factors behind market decline 

1) Caution due to US visa concerns: Analysts said sentiment was hit after the US Department of Homeland Security proposed a shift to a wage-based system for allocating H-1B visas. The move, intended to prioritise higher-paid candidates, could hurt Indian IT services exporters that rely on cost-effective H-1B visas staffing models for overseas projects.

"On Dalal Street, sentiment remains under pressure as investors grapple with Trump’s 50 per cent tariff hike on India and his steep USD 1,00,000 one-time H-1B visa fee, which disproportionately impacts Indian professionals," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

2) FII selling: Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,551.19 crore on Tuesday, further pressuring the domestic market.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-24-09-2025-liveblog-13572159.html" target="_blank">Stock Market LIVE Updates</a>

3) Global cues: In Asian markets, South Korea’s Kospi and Japan’s Nikkei 225 were trading lower, mirroring overnight weakness on Wall Street.

4) Crude rises: Brent crude futures rose 0.28 percent to USD 67.82 a barrel. Higher oil prices typically raise concerns for India, which is a major importer and sensitive to fluctuations in energy costs.

5) Rupee declines: The rupee slipped 7 paise to 88.80 against the US dollar in early trade, hovering near its all-time low. Market participants said the weakness was driven by persistent fund outflows, tariff-related worries and higher US visa fees.

6) Powell's caution on further easing: Comments from US Federal Reserve Chair Jerome Powell also dampened sentiment. Powell reiterated the need for caution on rate cuts, highlighting risks from both inflation and labour market weakness. Market watchers noted that tighter US monetary policy tends to keep foreign investors away from emerging markets, including India.

"Powell's overnight remarks underscored the central bank's cautious approach," James Kniveton, senior corporate forex dealer at Convera told Reuters. "Powell acknowledged the absence of risk-free policy options, warning that premature easing could entrench inflation whilst excessive monetary restriction might unnecessarily damage employment prospects," he added.

Technical Analysis

Anand James, Chief Market Strategist at Geojit Financial Services, said, "While 25,000 held downsides, upsides were capped by the 25,278 region as pencilled in yesterday. Until we see a close above 25,330, the 24,880–800 trajectory will persist."

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Sensex declines 450 pts, Nifty below 25,050: US visa concerns among key factors behind market fall

Sensex News Today: Sensex declines 450 pts, Nifty below 25,050: US visa concerns among key factors behind market fall

The benchmark equity indices fell on Wednesday as sustained foreign fund outflows and concerns over proposed changes in the US H-1B visa system weighed on investor sentiment.

At around 11:15 a.m., Sensex declined 483.15 points or 0.59 percent to 81,618.95, while the broader Nifty dropped to 25,031.50, down 138 points or 0.55 percent.

Tech Mahindra, Wipro, Tata Motors, HDFC Bank and ICICI Bank were among key laggards, declining up to 2 percent intraday.

Key factors behind market decline 

1) Caution due to US visa concerns: Analysts said sentiment was hit after the US Department of Homeland Security proposed a shift to a wage-based system for allocating H-1B visas. The move, intended to prioritise higher-paid candidates, could hurt Indian IT services exporters that rely on cost-effective H-1B visas staffing models for overseas projects.

&quot;On Dalal Street, sentiment remains under pressure as investors grapple with Trump’s 50 per cent tariff hike on India and his steep USD 1,00,000 one-time H-1B visa fee, which disproportionately impacts Indian professionals,&quot; Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

2) FII selling: Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,551.19 crore on Tuesday, further pressuring the domestic market.

Stock Market LIVE Updates

3) Global cues: In Asian markets, South Korea’s Kospi and Japan’s Nikkei 225 were trading lower, mirroring overnight weakness on Wall Street.

4) Crude rises: Brent crude futures rose 0.28 percent to USD 67.82 a barrel. Higher oil prices typically raise concerns for India, which is a major importer and sensitive to fluctuations in energy costs.

5) Rupee declines: The rupee slipped 7 paise to 88.80 against the US dollar in early trade, hovering near its all-time low. Market participants said the weakness was driven by persistent fund outflows, tariff-related worries and higher US visa fees.

6) Powell's caution on further easing: Comments from US Federal Reserve Chair Jerome Powell also dampened sentiment. Powell reiterated the need for caution on rate cuts, highlighting risks from both inflation and labour market weakness. Market watchers noted that tighter US monetary policy tends to keep foreign investors away from emerging markets, including India.

&quot;Powell's overnight remarks underscored the central bank's cautious approach,&quot; James Kniveton, senior corporate forex dealer at Convera told Reuters. &quot;Powell acknowledged the absence of risk-free policy options, warning that premature easing could entrench inflation whilst excessive monetary restriction might unnecessarily damage employment prospects,&quot; he added.

Technical Analysis

Anand James, Chief Market Strategist at Geojit Financial Services, said, &quot;While 25,000 held downsides, upsides were capped by the 25,278 region as pencilled in yesterday. Until we see a close above 25,330, the 24,880–800 trajectory will persist.&quot;

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Dalal Street opened on a jittery note on Wednesday, September 24, echoing weak global cues as US Federal Reserve Chair Jerome Powell’s commentary on valuations weighed on sentiment.

At 09:20 am, the <a href="https://www.moneycontrol.com/indian-indices/sensex-4.html">Sensex</a> was down 275.47 points or 0.34 percent at 81,826.63, and the Nifty was down 84.70 points or 0.34 percent at 25,084.80. About 1149 shares advanced, 1351 shares declined, and 177 shares unchanged.

At the open, sectoral indices were mostly in the red. Nifty IT led the losses with a 0.7 percent decline, followed by Nifty Auto down 0.6 percent and Nifty Metal slipping 0.4 percent. Realty, Infra, Media, Pharma and FMCG also edged lower with cuts of 0.2 to 0.4 percent.

On the positive side, PSU Bank was the lone gainer, rising 0.89 percent. Energy also eased 0.41 percent. Overall, the market breadth across sectors leaned negative at the start of trade, as Powell's commentary led to selling across the globe.

“We do look at overall financial conditions, and we ask ourselves whether our policies are affecting financial conditions in a way that is what we’re trying to achieve. But you’re right, by many measures, for example, equity prices are fairly highly valued," said Powell.

Following his remarks, Wall Street's main indices fell from their highs, seeing some selling pressure. Nevertheless, Powell noted that it is not up to the Federal Reserve to determine what the fair valuations are or what the correct stock price should be.

"Now a concern in the market globally is the high asset prices. Prices of assets be it stocks, gold, silver, bit coins are high. This concern was articulated by the Fed chief Jerome Powell yesterday in his speech at Rhode Island. Powell reiterated the risks to inflation and employment, too, signalling that the Fed policy, going forward, will be challenging," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

On the technical front, Anand James, Chief Market Strategist, Geojit Investments noted that while 25000 held downsides, upsides were capped by the 25,278 region as pencilled in yesterday. "While we wait for a break beyond these extremities for directional moves, momentum appears dull, lowering the prospects of sustainable moves. Until we see a close above 25,330, the 24,880-800 trajectory will persist."

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-24-09-2025-liveblog-13572159.html">Follow our market blog to catch all the live updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sensex, Nifty slip in early trade as Powell’s valuation warning spooks investors

Dalal Street opened on a jittery note on Wednesday, September 24, echoing weak global cues as US Federal Reserve Chair Jerome Powell’s commentary on valuations weighed on sentiment.

At 09:20 am, the Sensex was down 275.47 points or 0.34 percent at 81,826.63, and the Nifty was down 84.70 points or 0.34 percent at 25,084.80. About 1149 shares advanced, 1351 shares declined, and 177 shares unchanged.

At the open, sectoral indices were mostly in the red. Nifty IT led the losses with a 0.7 percent decline, followed by Nifty Auto down 0.6 percent and Nifty Metal slipping 0.4 percent. Realty, Infra, Media, Pharma and FMCG also edged lower with cuts of 0.2 to 0.4 percent.

On the positive side, PSU Bank was the lone gainer, rising 0.89 percent. Energy also eased 0.41 percent. Overall, the market breadth across sectors leaned negative at the start of trade, as Powell's commentary led to selling across the globe.

“We do look at overall financial conditions, and we ask ourselves whether our policies are affecting financial conditions in a way that is what we’re trying to achieve. But you’re right, by many measures, for example, equity prices are fairly highly valued,&quot; said Powell.

Following his remarks, Wall Street's main indices fell from their highs, seeing some selling pressure. Nevertheless, Powell noted that it is not up to the Federal Reserve to determine what the fair valuations are or what the correct stock price should be.

&quot;Now a concern in the market globally is the high asset prices. Prices of assets be it stocks, gold, silver, bit coins are high. This concern was articulated by the Fed chief Jerome Powell yesterday in his speech at Rhode Island. Powell reiterated the risks to inflation and employment, too, signalling that the Fed policy, going forward, will be challenging,&quot; said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

On the technical front, Anand James, Chief Market Strategist, Geojit Investments noted that while 25000 held downsides, upsides were capped by the 25,278 region as pencilled in yesterday. &quot;While we wait for a break beyond these extremities for directional moves, momentum appears dull, lowering the prospects of sustainable moves. Until we see a close above 25,330, the 24,880-800 trajectory will persist.&quot;

Follow our market blog to catch all the live updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Live: Can Nifty sustain above 25,000 amid trade volatility? | Opening Bell

Gold has once again eclipsed Indian equities, marking its fourth straight year of superior Diwali-to-Diwali returns. Over the last eight years, the yellow metal has outperformed equities in seven, cementing its reputation as the go-to safe haven. Analysts caution investors not to be surprised if the trend extends through the next festive cycle.

MCX gold has rallied 40 percent since last Diwali, compared with a modest 5 percent rise in the Nifty 50. In 2024 alone, Diwali-to-Diwali returns show a 32 percent surge in gold against a 24 percent gain in the benchmark Nifty, while in 2023, gold jumped 21 percent versus Nifty’s 10 percent.

<img class="alignnone size-full wp-image-13572818" src="https://images.moneycontrol.com/static-mcnews/2025/09/20250924025731_gold-vs-nifty-chart.jpg" alt="gold vs nifty chart" width="1944" height="2183" />

Market experts see the winning streak continuing, with Indian equities weighed down by stretched valuations, sluggish earnings growth, persistent foreign investor selling, and tariff-linked geopolitical jitters.

The recent bullion rally has been fueled by a mix of supportive forces — the US Fed’s policy easing, central banks ramping up reserves, and investors seeking havens amid geopolitical strife.

“Gold’s four-year Diwali-to-Diwali winning streak against Indian equities has been impressive. Given the current macro environment, the metal could extend its outperformance for another year, though equities may start narrowing the gap,” said Abhishek Khudania, Senior Executive Director – Wealth, Client Associates.

Experts say central bank accumulation and expectations of further Fed cuts could keep gold on an upward track well beyond the festive season. A structural drift away from the US dollar continues to underpin sentiment, with investors bracing for fresh uncertainty. Silver, meanwhile, is expected to move in lockstep with gold, supported by strong industrial demand in solar panels, semiconductors, and electric vehicles.

Aamir Makda, Commodity &amp; Currency Analyst, Choice Broking, said geopolitics remains a crucial variable. Trade-related disputes, including the ongoing US Supreme Court case on Trump-era tariffs, keep the global trade outlook fragile. Security tensions are also rising, with NATO intercepting Russian jets over Estonia, raising fears of a wider conflict. Against this backdrop, gold’s role as both a hedge and a safe-haven remains firmly in focus.

Foreign brokers are turning more bullish. Goldman Sachs has projected bullion could approach $5,000 an ounce if investors shift even a fraction of their Treasury holdings into gold. Chris Wood, global head of equity strategy at Jefferies, has raised his long-term price target to $6,600 per ounce, citing historical ratios and rising US disposable income. His call comes as gold touched a record $3,700/oz this week before pausing on a hawkish Fed tone.

Silver, too, has extended its outperformance over Indian equities for a third year, emerging as both a defensive asset and a long-term growth play. Analysts believe its dual role will keep it in investor focus alongside gold.

Diwali-to-Diwali: Gold outshines Indian equities for fourth successive year

Gold has once again eclipsed Indian equities, marking its fourth straight year of superior Diwali-to-Diwali returns. Over the last eight years, the yellow metal has outperformed equities in seven, cementing its reputation as the go-to safe haven. Analysts caution investors not to be surprised if the trend extends through the next festive cycle.

MCX gold has rallied 40 percent since last Diwali, compared with a modest 5 percent rise in the Nifty 50. In 2024 alone, Diwali-to-Diwali returns show a 32 percent surge in gold against a 24 percent gain in the benchmark Nifty, while in 2023, gold jumped 21 percent versus Nifty’s 10 percent.



Market experts see the winning streak continuing, with Indian equities weighed down by stretched valuations, sluggish earnings growth, persistent foreign investor selling, and tariff-linked geopolitical jitters.

The recent bullion rally has been fueled by a mix of supportive forces — the US Fed’s policy easing, central banks ramping up reserves, and investors seeking havens amid geopolitical strife.

“Gold’s four-year Diwali-to-Diwali winning streak against Indian equities has been impressive. Given the current macro environment, the metal could extend its outperformance for another year, though equities may start narrowing the gap,” said Abhishek Khudania, Senior Executive Director – Wealth, Client Associates.

Experts say central bank accumulation and expectations of further Fed cuts could keep gold on an upward track well beyond the festive season. A structural drift away from the US dollar continues to underpin sentiment, with investors bracing for fresh uncertainty. Silver, meanwhile, is expected to move in lockstep with gold, supported by strong industrial demand in solar panels, semiconductors, and electric vehicles.

Aamir Makda, Commodity &amp;amp; Currency Analyst, Choice Broking, said geopolitics remains a crucial variable. Trade-related disputes, including the ongoing US Supreme Court case on Trump-era tariffs, keep the global trade outlook fragile. Security tensions are also rising, with NATO intercepting Russian jets over Estonia, raising fears of a wider conflict. Against this backdrop, gold’s role as both a hedge and a safe-haven remains firmly in focus.

Foreign brokers are turning more bullish. Goldman Sachs has projected bullion could approach $5,000 an ounce if investors shift even a fraction of their Treasury holdings into gold. Chris Wood, global head of equity strategy at Jefferies, has raised his long-term price target to $6,600 per ounce, citing historical ratios and rising US disposable income. His call comes as gold touched a record $3,700/oz this week before pausing on a hawkish Fed tone.

Silver, too, has extended its outperformance over Indian equities for a third year, emerging as both a defensive asset and a long-term growth play. Analysts believe its dual role will keep it in investor focus alongside gold.

2 out of 4 years NIFTY INDIA MFG has given positive returns in September.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	15,220.70	15,294.60	15,354.20	15,161.10	15,087.20	15,027.60	14,953.70
Fibonacci	15,212.10	15,243.60	15,294.60	15,161.10	15,110.10	15,078.60	15,027.60
Camarilla	15,159.04	15,171.27	15,183.51	15,161.10	15,134.56	15,122.33	15,110.09

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