Nifty tops 25,100, logs 8th gain; defence stocks shine

The domestic equity benchmarks closed higher on Friday, with the Nifty 50 ending above 25,100 and marking its eighth straight gain. Hopes of easing India-US trade tensions and softer US labour data lifted sentiment. Expectations of a Federal Reserve rate cut next week added support. Reports that the EU may reject US tariff proposals on India also helped the mood. Traders awaited India's CPI inflation data later in the day. Metals and financial services stocks gained, while FMCG and PSU banks slipped. Defence shares rallied after authorities began talks for six next-generation submarines.

The S&P BSE Sensex added 355.97 points or 0.44% to 81,904.70. The Nifty 50 index rose 108.50 points or 0.43% to 25,114. In eight trading sessions, the 50 unit index has climbed 2.17%.

Bharat Electronics (up 3.67), Bajaj Finance (up 3.41%) and ICICI Bank (up 1.13%) boosted the Nifty today.

In the broader market, the S&P BSE Mid-Cap index rose 0.09% and the S&P BSE Small-Cap index fell 0.27%.

The market breadth was negative. On the BSE, 2061 shares rose and 2082 shares fell. A total of 168 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.29% to 10.12.

Numbers to Track:

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.2725 compared with its close of 88.3500 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement rose 0.34% to Rs 109,354.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.15% to 97.69.

The United States 10-year bond yield jumped 0.28% to 4.039.

In the commodities market, Brent crude for November 2025 settlement fell 30 cents or 0.45% to $66.67 a barrel.

Global Market:

Most European shares declined on Friday as the UK's July gross domestic product (GDP) came in flat. This marked a pause following a relatively robust first half of 2025, during which the British economy grew by 0.7% in the first quarter and 0.3% in the second. According to data released Friday by the Office for National Statistics, the economy showed no growth in July, slowing down from a 0.4% expansion in June.

Meanwhile, Germany's inflation rate rose to 2.1% in August, confirmed by the federal statistics office, in line with preliminary estimates. German consumer prices, harmonized for comparison with other European Union countries, had increased by 1.8% year-on-year in July.

Similar inflation data from France and Spain are expected to show that price pressures remain largely under control across the eurozone.

Most Asian markets ended higher on Friday, reflecting the positive close in U.S. equities from the previous day.

Equities in several parts of the world have been rallying as easing inflation pressures and expectations for U.S. rate cuts boost investor sentiment.

Overnight in the U.S., all three major indexes ended higher, as investors bet that the upcoming consumer inflation data would not prevent the Federal Reserve from cutting interest rates next week.

The Dow Jones Industrial Average finished up 617.08 points, or 1.36%, at 46,108.00, while the S&P 500 ended up 0.85% at 6,587.47. The Nasdaq Composite advanced 0.72% to 22,043.07. All three major averages scored new intraday all-time highs in the trading day and closed at record levels.

The U.S. CPI rose 0.4% last month, the biggest gain since January, after increasing 0.2% in July, the Labor Department's Bureau of Labor Statistics said. The CPI was driven by a 0.4% jump in the cost of shelter. Food prices increased 0.5%, with prices at the supermarket soaring 0.6%.

The larger-than-expected rise in the Consumer Price Index reported by the Labor Department on Thursday resulted in the biggest year-on-year increase in inflation since January. Higher inflation and softening labor market conditions fanned fears of stagflation and pose a dilemma for the U.S. central bank, beyond Wednesday's anticipated rate decision.

Stocks in Spotlight:

The Nifty India Defence Index surged 4.38% to 8,044.70. MTAR Technologies (up 9.26%), BEML Ltd (up 7.99%), Astra Microwave Products (up 7.01%), Cochin Shipyard (up 6.37%), Paras Defence and Space Technologies (up 6.22%), Bharat Dynamics (up 5.69%), Data Patterns (India) (up 5.63%), Mazagon Dock Shipbuilders (up 4.82%), Bharat Electronics (up 3.71%) and Hindustan Aeronautics (up 3.55%) surged.

Infosys rose 1.06% to Rs 1,525.55 after its board approved a share buyback of up to Rs 18,000 crore. The company will repurchase up to 10 crore equity shares, or 2.41% of its outstanding capital, through the tender offer route at Rs 1,800 per share. The buyback price represents a 19.25% premium to yesterday's closing level of Rs 1,509.50 on the BSE.

JBM Auto soared 13.88% after its subsidiary, JBM Ecolife Mobility, secured a $100 million long-term capital investment from the International Finance Corporation (IFC). The funds will be used to deploy 1,455 modern electric buses across Maharashtra, Assam and Gujarat under the Pradhan Mantri e-bus Sewa Scheme.

Consolidated Construction Consortium surged 19.96% after the company secured orders worth Rs 180 crore from various clients under its Buildings & Factories (B&F) division for constructing 13.5 lakh sq.ft. of buildings and factories.

Paras Defence and Space Technologies surged 5.79% after the company has received incremental orders worth Rs 26.6 crore from Opto Electronics Factory (OLF), a unit of India Optel, under the Ministry of Defence, Gov of India.

Travel Food Services (TFS) added 1.02% after the company announced that it has been awarded the license to operate travel QSRs and lounge at the Domestic Terminal (T1) of the Cochin International Airport. The company stated that the Cochin International Airport (CIAL) has awarded TFS the license for setting up, operating, maintenance and management of the F&B outlets, lounge and bar in the security hold area (SHA) at domestic terminal (T1) of Cochin International Airport.

Lodha Developers shed 1%. The company has signed a memorandum of understanding (MoU) with the Maharashtra government to develop a Green Integrated Data Centre Park in Palava, Mumbai Metropolitan Region (MMR).

NLC India advanced 2.32% after the company announced it signed a memorandum of understanding (MoU) with Khanij Bidesh India (KABIL) to expand its presence in the critical minerals and rare earth elements (REE) sector, both in India and overseas.

IPO Update:

Urban Company's IPO received bids for 11,04,68,43,995 shares as against 10,67,73,244 shares on offer, according to stock exchange data at 16:30 IST on Friday (12 September 2025). The issue was subscribed 103.46 times.

The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 98 and 103 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.

Dev Accelerator's IPO received bids for 83,24,48,490 shares as against 1,31,47,075 shares on offer, according to stock exchange data at 16:30 IST on Friday (12 September 2025). The issue was subscribed 63.32 times.

The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 56 and 61 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.

Shringar House of Mangalsutra's IPO received bids for 1,02,09,84,660 shares as against 1,70,16,000 shares on offer, according to stock exchange data at 16:30 IST on Friday (12 September 2025). The issue was subscribed 60 times.

The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 155 and 165 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.

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