Closing Bell: Nifty above 24,950, Sensex up 324 pts; IT, PSU Banks gain, autos slip

Indian equity indices ended on strong note with Nifty above 24,950 on September 10. At close, the Sensex was up 323.83 points or 0.40 percent at 81,425.15, and the Nifty was up 104.5 points or 0.42 percent at 24,973.10.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Markets extended their positive streak on Wednesday, gaining nearly half a percent. After a gap-up start, the Nifty index moved within a narrow range during the first half, but volatility in the latter part of the session trimmed some gains, and it finally settled at the 24,973 level.

Sector-wise, IT continued its recovery with gains of over 2.5%, followed by strength in realty, financials, and energy. In contrast, the auto sector witnessed profit booking after several sessions of outperformance, shedding over a percent. Market breadth remained positive, reinforcing the bullish undertone across both frontline and broader markets, with the midcap and smallcap indices advancing in the range of 0.75% to 1%.

The uptrend was supported by renewed optimism over progress in India–US trade negotiations, alongside positive foreign flows in the cash market after a period of continuous decline, which further lifted sentiment.

Markets are gradually inching higher amid favorable cues; however, sustained participation from the two key sectors—IT and banking—will be essential for the Nifty to move towards the 25,250–25,400 zone. On the downside, support has shifted to the 24,650–24,750 range. We maintain a positive bias and suggest using intermediate dips or consolidation phases to accumulate fundamentally strong counters across the board.

Today, the Indian stock market ended positively, with both the Sensex and Nifty extending their winning streak. The Sensex closed 324 points higher at 81,425, while the Nifty 50 settled just below the key psychological mark at 24,973, gaining 0.42%. Midcap and smallcap indices also edged up by 0.95% and 0.77%, respectively, underscoring broad-based optimism across sectors.

The upbeat sentiment was driven mainly by optimism surrounding renewed US-India trade talks announced by the US President, which lifted investor confidence across global and domestic equities. Key outperformers included IT and PSU bank stocks up 2.63% and 2.09% respectively, while the auto sector saw some profit booking after a recent rally triggered by GST cuts on vehicles. Further, upbeat commentary on India's economic growth, with a global rating agency raising the FY26 GDP forecast to 6.9%, also supported sentiment.

Traders and investors remain cautiously optimistic as benchmarks hover near critical resistance levels (Nifty at 25,000). Market participants are closely watching the upcoming US CPI data, global crude prices, rupee movement, and the 16-17 September FOMC meeting for cues.

Sector and stock-specific action is expected to continue, especially in IT and banking, while any external macro shocks or profit-booking ahead of global data could lead to increased volatility. Overall, today's performance was anchored by global trade optimism, broad-based sectoral participation, and improving foreign fund flows, positioning the market for further gains while warranting near-term caution.

Renewed optimism around ongoing trade negotiations between India and the US lifted market sentiment. Anticipation of stronger H2FY26 earnings, driven by GST rationalization and the benefits of monetary easing, is providing resilience to valuations.

The IT index extended its outperformance on hopes of a potential Fed rate cut next week and a revival in technology spending. Investors remain focused on the progress of India–US trade talks for signals of a constructive resolution to tariff-related issues.

Nifty gained more than 100 points to close at 24,979, extending its recovery as the index held above the 21EMA. RSI has given a bullish crossover above 50, supporting the positive momentum.

Going ahead, sustaining above 24,820–24,750 may lead the index towards 25,160 and higher levels, while support remains at 24,820–24,750.

Indian rupee ended flat at 88.10 per dollar on Wednesday versus previous close of 88.11.

Indian equity indices ended on strong note with Nifty above 24,950 on September 10.

At close, the Sensex was up 323.83 points or 0.40 percent at 81,425.15, and the Nifty was up 104.5 points or 0.42 percent at 24,973.10. About 2169 shares advanced, 1558 shares declined, and 114 shares unchanged.

Biggest Nifty gainers included Bharat Electronics, Wipro, HCL Technologies, Bajaj Finance, TCS, while losers were M&M, Hero MotoCorp, Bajaj Auto, Maruti Suzuki, Tata Motors.

BSE Midcap and smallcap indices rose 0.7% each.

Among sectors, auto index slipped 1%, while IT index added 2.6%, PSU Bank index was up 2.2% and realty index rose 1%.

Sobha was quoting at Rs 1,495.90, up Rs 69.20, or 4.85 percent.

It has touched an intraday high of Rs 1,498.00 and an intraday low of Rs 1,441.80.

It was trading with volumes of 4,759 shares, compared to its five day average of 32,974 shares, a decrease of -85.57 percent.

In the previous trading session, the share closed down 0.93 percent or Rs 13.35 at Rs 1,426.70.

The share touched a 52-week high of Rs 2,066.20 and a 52-week low of Rs 1,075.70 on 23 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 27.6 percent below its 52-week high and 39.06 percent above its 52-week low.

Market capitalisation stands at Rs 15,093.61 crore.

The company has secured its third consecutive order for a 9-layer blown film plant under its co-extrusion product segment. The order, valued at $1.17 million, has been placed by a UAE-based customer. The plant will be commissioned for the production of high-barrier films, with delivery scheduled for Q4FY26.

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Retail – 2.28 times

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QIB – 1.16 times

NII - 3.33 times

Retail – 15.56 times

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Shareholder Reserved - 3.42 times

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The Sensex was up 239.64 points or 0.30 percent at 81,340.96, and the Nifty was up 84.10 points or 0.34 percent at 24,952.70. About 2145 shares advanced, 1560 shares declined, and 117 shares unchanged.

Total AUM at Rs 75.18 lakh crore versus Rs 75.35 lakh crore, MoM

Largecap fund inflow at Rs 2,835 crore vs Rs 2,125 crore inflow, MoM

Smallcap fund inflow at Rs 4,993 crore vs Rs 6,484 crore inflow, MoM

Midcap fund inflow at Rs 5,331 crore vs Rs 5,182 crore inflow, MoM

The company has received an order from Maharashtra Pollution Control Board (MPCB) issuing Voluntary Closure Directions of chlorosulfonation process at PTSCL section at T-150 unit situated at Tarapur, Maharashtra.

Indian rupee is trading flat at 88.09 per dollar versus previous close of 88.11.

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Royal Enfield will pass on the full benefit of the GST rate reduction to its customers across its motorcycle business, service, apparel, and accessories range, effective September 22.

The Sensex was up 281.03 points or 0.35 percent at 81,382.35, and the Nifty was up 88.85 points or 0.36 percent at 24,957.45. About 2183 shares advanced, 1495 shares declined, and 122 shares unchanged.

Cupid has entered into a term sheet to acquire a strategic stake in Mansam, a Saudi Arabian fragrance brand promoted by Key Notes Trading LLC, through a fund structure managed by Gll lnvestment Management Limited.

QIB – 1.15 times

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Tata Elxsi today announced the inauguration of the ‘Bayer Development Centre in Radiology’ at Tata Elxsi, Pune, India. The centre is designed to co-develop with Bayer, a leader in key areas of Radiology, advanced radiology devices and technology that enable early and

accurate diagnosis and treatment of critical illnesses.

Tata Elxsi was quoting at Rs 5,818.15, up Rs 261.25, or 4.70 percent.

It has touched an intraday high of Rs 5,863.40 and an intraday low of Rs 5,597.45.

It was trading with volumes of 56,005 shares, compared to its five day average of 11,337 shares, an increase of 393.99 percent.

In the previous trading session, the share closed up 1.61 percent or Rs 88.30 at Rs 5,556.90.

The share touched a 52-week high of Rs 8,140.00 and a 52-week low of Rs 4,601.05 on 27 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 28.52 percent below its 52-week high and 26.45 percent above its 52-week low.

Market capitalisation stands at Rs 36,242.75 crore.

QIB – 0.83 times

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#1 Proposed merger of Aster with Quality Chemical Ind (QCIL) on track to close by Q4FY26

#2 Quality Chemical Ind & Aster DM both entities are focussing on operational ramp-up

#3 QCIL focusing on talent, tech & infra to drive efficiency & profitability

#4 Sustained growth in Kerala & Bengaluru markets key amid rising competition

#1 India poised for growth amid more participants entering & falling natural diamond prices

#2 Titan’s SKU analysis shows limited risk due to lower share of high-ticket studded or solitaire jewellery

Indian rupee is trading flat at 88.12 per dollar against previous close of 88.11.

The company will pay a final dividend of Rs 0.90 per share on September 23.

Bharat Electronics was quoting at Rs 386.45, up Rs 14.30, or 3.84 percent.

It has touched an intraday high of Rs 386.45 and an intraday low of Rs 373.20.

It was trading with volumes of 1,772,652 shares, compared to its five day average of 642,168 shares, an increase of 176.04 percent.

It was trading with volumes of 1,772,652 shares, compared to its thirty day average of 773,886 shares, an increase of 129.06 percent.

In the previous trading session, the share closed up 0.07 percent or Rs 0.25 at Rs 372.15.

The share touched a 52-week high of Rs 435.95 and a 52-week low of Rs 240.15 on 01 July, 2025 and 19 February, 2025, respectively.

Currently, the stock is trading 11.35 percent below its 52-week high and 60.92 percent above its 52-week low.

Market capitalisation stands at Rs 282,486.40 crore.

The company has invested Rs 115 crore in its subsidiary First Energy (FEPL) for further investment in First Energy (FE10), a wholly owned subsidiary of FEPL. Both FEPL and FE10 have completed the allotment of equity shares against the said investment.

The company’s indirect subsidiary Motherson SAS Turkey Otomotiv Servis Ticaret (MSAS Turkey) has completed the acquisition of the remaining 25% stake in SMR Plast Met Molds and Tools Turkey Kalip Imalat Anonim Sirketi, and SMR Plast Met Automotive Tec Turkey Plastik Imalat Anonim Sirketi.

The Sensex was up 337.60 points or 0.42 percent at 81,438.92, and the Nifty was up 104.85 points or 0.42 percent at 24,973.45. About 2315 shares advanced, 1320 shares declined, and 127 shares unchanged.

Oil and Natural Gas Corporation was quoting at Rs 231.80, up Rs 0.35, or 0.15 percent.

It has touched an intraday high of Rs 233.00 and an intraday low of Rs 231.20.

It was trading with volumes of 163,699 shares, compared to its five day average of 269,003 shares, a decrease of -39.15 percent.

In the previous trading session, the share closed down 0.41 percent or Rs 0.95 at Rs 231.45.

The share touched a 52-week high of Rs 302.00 and a 52-week low of Rs 205.00 on 24 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 23.25 percent below its 52-week high and 13.07 percent above its 52-week low.

Market capitalisation stands at Rs 291,610.87 crore.

#1 Large passenger tender worth Rs 21,000 crore

#2 Company is well placed to tap opportunities amid benign competition

#3 Company benefits from large capacity, strong engineering capabilities & technology support

Exide Industries was quoting at Rs 424.00, down Rs 2.70, or 0.63 percent.

It has touched an intraday high of Rs 430.85 and an intraday low of Rs 421.40.

It was trading with volumes of 77,565 shares, compared to its five day average of 156,834 shares, a decrease of -50.54 percent.

In the previous trading session, the share closed down 0.16 percent or Rs 0.70 at Rs 426.70.

The share touched a 52-week high of Rs 534.75 and a 52-week low of Rs 327.95 on 14 October, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 20.71 percent below its 52-week high and 29.29 percent above its 52-week low.

Market capitalisation stands at Rs 36,040.00 crore.

The company has received a Letter of Intent (LOI) from a leading private Independent Power Producer (IPP) for a BOS EPC package for the development of a 300 MW AC / 420 MWp DC solar PV project, along with a 220/33 kV pooling substation in Rajasthan. Total value of the contract is Rs 415 crore, including operation and maintenance.

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MIC Electronics has entered a MOU (Memorandum of Understanding) with Top2 PTE Limited, a Singapore based entity to explore, identify, and finalize a semiconductor partner from Taiwan.

BSE Limited was quoting at Rs 2,266.40, down Rs 86.80, or 3.69 percent.

It has touched an intraday high of Rs 2,368.20 and an intraday low of Rs 2,242.40.

It was trading with volumes of 3,407,847 shares, compared to its five day average of 4,193,055 shares, a decrease of -18.73 percent.

In the previous trading session, the share closed up 0.30 percent or Rs 7.00 at Rs 2,353.20.

The share touched a 52-week high of Rs 3,030.00 and a 52-week low of Rs 942.93 on 10 June, 2025 and 11 September, 2024, respectively.

Currently, the stock is trading 25.2 percent below its 52-week high and 140.36 percent above its 52-week low.

Market capitalisation stands at Rs 92,045.09 crore.

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Silver Touch Technologies has been awarded a prestigious contract by the Airports Authority of India (AAI) for the Supply, Installation, Testing, and Commissioning (SITC) of VHF Active Multicoupler systems, along with a secure network security solution to monitor and control network traffic across 15 airports in India.

The project will be executed in the Air Traffic Control (ATC) towers to provide a better communication infrastructure and protect against intrusion.

The company has received orders from DAKSHIN GUJARAT VIJ COMPANY (DGVCL) for turnkey contract for Conversion of existing 11/22kV HT Network to Underground Cable/MVCC under SI scheme at Valsad City - Valsad Rural and Surat Rural under DGVCL.

Rajesh Power Services was quoting at Rs 1,439.65, up Rs 21.85, or 1.54 percent.

It has touched an intraday high of Rs 1,441.80 and an intraday low of Rs 1,420.

In the previous trading session, the share closed down 1.17 percent or Rs 16.85 at Rs 1,417.80.

The share touched a 52-week high of Rs 1,639.00 and a 52-week low of Rs 636.50 on 22 August, 2025 and 02 December, 2024, respectively.

Currently, the stock is trading 12.16 percent below its 52-week high and 126.18 percent above its 52-week low.

Market capitalisation stands at Rs 2,592.43 crore.

#1 Optimistic of demand recovery in H2, helped by government measures

#2 GST cut must be passed through but leaves room for medium-term price hikes

#3 Company estimates removal of coal cess will reduce cost by Rs 20/tonne

#4 Higher benefit expected for companies with greater coal usage in mix

#5 Cost savings target of Rs 300/tonne intact with Rs 86/tonne achieved so far

#6 In wires & cables, focus remains on capacity ramp-up & RoCEs

The Sensex was up 326.27 points or 0.40 percent at 81,427.59, and the Nifty was up 103.60 points or 0.42 percent at 24,972.20. About 2400 shares advanced, 1191 shares declined, and 138 shares unchanged.

#1 Initiate buy on Astral, target price at Rs 1,800

#2 Initiate sell on Supreme Ind, target price at Rs 3,500

#3 Expect plastic pipe sales volume recovery in H2 FY26

#4 Expect high single-digit sector sales volume growth in FY27

#5 PVC prices may rebound from bottom on China’s anti-involution push

#6 PVC prices may rebound from Indian measures like BIS, anti-dumping duties

#7 Market is underestimating PVC price upside & margin gains

#8 Astral: buy due to margin upside with backward integration

#9 Supreme: sell due to high capex, RoCE concerns & challenges in other businesses

Tata Motors has executed the Share Subscription and Shareholders’ Agreement with Tata Power Renewable Energy to acquire a 26% equity stake in TP Paarthav and TP Marigold. Both are special purpose vehicles (SPVs) and subsidiaries of Tata Power Renewable Energy.

Hindustan Aeronautics, Indian National Space Promotion and Authorisation Centre (IN-SPACe), NewSpace India Limited (NSIL) and Indian Space Research Organisation (ISRO) signed the Small Satellite Launch Vehicle (SSL V) Technology Transfer Agreement in Bengaluru today.

Royal Enfield will pass on the full benefit of the GST rate reduction to its customers across its motorcycle business, service, apparel, and accessories range, effective September 22.

The Sensex was up 475.66 points or 0.59 percent at 81,576.98, and the Nifty was up 148.20 points or 0.60 percent at 25,016.80. About 2418 shares advanced, 1088 shares declined, and 144 shares unchanged.

#1 Optimistic on meeting guidance in FY26

#2 Q1 E&C orders up 41 percent YoY, PAT up 31 percent YoY & 230 bps YoY RoE expansion

#3 Capex cycle has begun well with government doubling capex over FY19-24 & company winning large project

#4 Company operating as a global EPC company with larger target market

#5 Company enabling ‘pick-and-choose’ orders supporting medium-term margin

#6 Big opportunity in FY26 lies across 12–15 large USD 1 billion+ projects in West Asia & India

#7 Margin expansion guidance should address market concerns

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Gold prices edged higher on Wednesday, holding above the critical $3,600-per-ounce level, buoyed by expectations of a U.S. interest rate cut this month, while key inflation reports due this week were also on investors' radar.

Spot gold was up 0.3% at $3,635.329 per ounce, after hitting a record high of $3,673.95 on Tuesday.

U.S. gold futures for December delivery eased 0.2% to $3,673.70.

The two- and three-wheeler maker has decided to fully pass on the benefit of the recent GST reduction to customers across its relevant Bajaj and KTM motorcycles and three-wheeler range, effective September 22.

It also announced a price reduction of up to Rs 20,000 on two-wheelers and up to Rs 24,000 on the three-wheeler range.

The company’s associate firm Bhilwara Energy has acquired Statkraft's 49% minority stake in Malana Power Company. The acquisition makes Bhilwara Energy of the LNJ Bhilwara Group the sole owner of Malana Power Company. The transaction includes Statkraft's stake in the Malana Hydropower Plant (86 MW) and the Allain Duhangan Hydropower Plant (192 MW) in Himachal Pradesh.

The board of directors of Bhilwara Energy has approved the allotment of 1,75,95,979 partly paid-up equity shares at Rs 142.08 per share to investors (Singularity and its affiliates). As a result, Bhilwara Energy has received Rs 25 crore as share application money (being 10% of the additional subscription amount) from investors. Post this allotment, investors' shareholding in Bhilwara Energy will increase from 9.6% to 17.51%. Singularity AMC was founded in 2015 by Yash Kela and Madhusudan Kela.

Jindal Stainless has supplied premium 301N austenitic stainless steel for the Bangalore Metro Phase 2 project.

Earlier this year in August, Bangalore Metro Rail Corporation Limited (BMRCL) inducted three trainsets from the CRRC–Titagarh Consortium into service under its Phase 2 metro expansion.

The order covers 53 trainsets, underscoring the scale and importance of this project for Bengaluru’s rapidly growing metro network.

Hero MotoCorp today announced passing on the full benefit of the next-gen GST 2.0 reforms directly to customers, effective Sept 22, 2025.

The Board will meet on September 12 to consider fundraising, in one or more tranches, via the issuance of non-convertible debentures, on a private placement basis.

ICICI Prudential Life Insurance Company was quoting at Rs 603.80, up Rs 5.60, or 0.94 percent.

It has touched an intraday high of Rs 604.60 and an intraday low of Rs 598.00.

It was trading with volumes of 9,496 shares, compared to its five day average of 26,845 shares, a decrease of -64.63 percent.

In the previous trading session, the share closed up 0.84 percent or Rs 5.00 at Rs 598.20.

The share touched a 52-week high of Rs 795.00 and a 52-week low of Rs 517.00 on 01 October, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 24.05 percent below its 52-week high and 16.79 percent above its 52-week low.

Market capitalisation stands at Rs 87,349.37 crore.

Tata Elxsi was quoting at Rs 5,795.10, up Rs 238.20, or 4.29 percent.

It has touched an intraday high of Rs 5,796.00 and an intraday low of Rs 5,597.45.

It was trading with volumes of 30,416 shares, compared to its five day average of 11,337 shares, an increase of 168.28 percent.

In the previous trading session, the share closed up 1.61 percent or Rs 88.30 at Rs 5,556.90.

The share touched a 52-week high of Rs 8,140.00 and a 52-week low of Rs 4,601.05 on 27 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 28.81 percent below its 52-week high and 25.95 percent above its 52-week low.

Market capitalisation stands at Rs 36,099.16 crore.

The shares of Optivalue Tek Consulting made a strong market debut on September 10, listing at Rs 103.60 apiece on the NSE Emerge platform. This marks a 23.33 percent premium over the IPO price of Rs 84 apiece.

The listing premium in higher than grey market estimates. Ahead of listing, the unlisted shares of the company were trading with around 15.5 percent grey market premium (GMP) over the IPO price at Rs 97 apiece, according to data on Investorgain. Read More

The US Food and Drug Administration (FDA) has now classified the Halol facility as Official Action Indicated (OAI). This means the FDA considers the facility not fully compliant with certain current good manufacturing practices (CGMP).

The Halol facility is under Import Alert, resulting in the refusal of shipments from the facility into the US — barring certain exemptions due to drug shortages — until the facility becomes fully compliant with FDA and CGMP standards.

Promoter Akshay Bansarilal Arora is set to sell up to 1,18,51,850 equity shares of the company (6.83% stake), including a greenshoe option of 59,25,925 shares (3.42% stake) via offer-for-sale (OFS) on September 10 and 11.

The OFS will open for non-retail investors on September 10, and for retail investors (and non-retail investors who choose to carry forward their un-allotted bids from the previous day) on September 11. The floor price has been fixed at Rs 675 per share.

Ashok Leyland was quoting at Rs 134.15, down Rs 0.90, or 0.67 percent.

It has touched an intraday high of Rs 136.10 and an intraday low of Rs 133.15.

It was trading with volumes of 158,285 shares, compared to its thirty day average of 802,127 shares, a decrease of -80.27 percent.

In the previous trading session, the share closed down 1.64 percent or Rs 2.25 at Rs 135.05.

The share touched a 52-week high of Rs 138.15 and a 52-week low of Rs 95.20 on 08 September, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 2.9 percent below its 52-week high and 40.91 percent above its 52-week low.

Market capitalisation stands at Rs 78,787.03 crore.

The Sensex was up 436.39 points or 0.54 percent at 81,537.71, and the Nifty was up 140.20 points or 0.56 percent at 25,008.80. About 2389 shares advanced, 954 shares declined, and 141 shares unchanged.

Trident was quoting at Rs 29.42, up Rs 1.30, or 4.62 percent.

It has touched an intraday high of Rs 30.00 and an intraday low of Rs 28.48.

It was trading with volumes of 1,938,790 shares, compared to its thirty day average of 966,384 shares, an increase of 100.62 percent.

In the previous trading session, the share closed down 0.46 percent or Rs 0.13 at Rs 28.12.

The share touched a 52-week high of Rs 40.17 and a 52-week low of Rs 23.20 on 10 December, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 26.76 percent below its 52-week high and 26.81 percent above its 52-week low.

Market capitalisation stands at Rs 14,992.30 crore.

The company has secured its third consecutive order for a 9-layer blown film plant under its co-extrusion product segment. The order, valued at $1.17 million, has been placed by a UAE-based customer. The plant will be commissioned for the production of high-barrier films, with delivery scheduled for Q4FY26.

Brightcom Group today announced the signing of a Memorandum of Understanding (MoU) with Close Quarters Tactical (CQT) Weapon Systems, LLC, USA, a reputed U.S.-based defence manufacturer with proven expertise in tactical hardware and mission-ready systems.