Indices drift lower in early trade; Nifty trades below 24,400 level

The domestic equity indices trade with minor losses in early trade, snapping a three-day winning streak.

The Nifty traded below the 25,400 level. PSU Bank, oil & gas and realty shares advanced while IT, private bank and FMCG shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 232.83 points or 0.28% to 82,781.62. The Nifty 50 index shed 64.40 points or 0.25% to 25,359.50.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.17% and the S&P BSE Small-Cap index added 0.11%.

The market breadth was positive. On the BSE, 1,791 shares rose and 1,300 shares fell. A total of 168 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 366.69 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,326.56 crore in the Indian equity market on 18 September 2025, provisional data showed.

Stocks in Spotlight:

Texmaco Rail & Engineering added 2.99% after the company announced that it has received an order worth Rs 87 crore from Ultratech Cement for BCFC wagons along with a brake van.

John Cockerill India rose 1.04% after the company announced that it has received a contract from Tata Steel for the Push-Pull Pickling Line and Acid Regeneration Plant.

Numbers to Track:

The yield on India's 10-year benchmark federal paper added 0.06% to 6.513 from the previous close of 6.509.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 87.9750 compared with its close of 87.8500 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement added 0.32% to Rs 109,392.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 97.35.

The United States 10-year bond yield added 0.17% to 4.110.

In the commodities market, Brent crude for November 2025 settlement shed 11 cents or 0.16% to $67.33 a barrel.

Global Markets:

Asia Market traded mixed on Friday as investors awaited the Bank of Japan's rate decision.

The central bank is slated to conclude its two-day policy meeting, where it is widely expected to keep policy rates steady at 0.5%.

Japan's core inflation rate fell to its lowest since November 2024, coming in at 2.7% for August and marking a third straight month of decline, according to government data. Headline inflation in the country also dropped to 2.7%, coming down from 3.1% in July and marking a fresh low since November 2024.

Overnight in the U.S., the major averages closed higher after the Federal Reserve signaled it was embarking on an easing rate path, reinvigorating investors and raising hopes for a ratcheting up of economic growth.

The S&P 500 ended higher 0.48% at 6,631.96, while the Nasdaq Composite jumped 0.94% to settle at 22,470.73. The Dow Jones Industrial Average added 124 points, or 0.27%, to close at 46,142.42.

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