Market slide for 5th day, Nifty settles below 24,900 level

The headline equity indices closed with sharp losses on Thursday, marking the fifth consecutive session of decline. Market sentiment remained subdued, weighed down by continued Foreign Institutional Investor (FII) selling and the monthly expiry of Sensex derivatives. Additionally, concerns over potential U.S. visa curbs kept investors on edge. The Nifty ends below the 24,900 level.

Barring the Nifty metal index, all other sectoral indices on the NSE ended in the red, with realty, IT, and pharma shares experiencing the steepest declines.

As per provisional closing data, the barometer index, the S&P BSE Sensex dropped 555.95 points or 0.68% to 81,159.68. The Nifty 50 index lost 166.05 points or 0.66% to 24,890.85. In five consecutive trading sessions, the Sensex slumped 2.23% and the Nifty tumbled 2.09%.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.72% and the S&P BSE Small-Cap index slipped 0.75%.

The market breadth was weak. On the BSE, 1,478 shares rose and 2,700 shares fell. A total of 152 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.47% to 10.78.

New Listing:

Shares of Ivalue Infosolutions were at Rs 281.95 on the BSE, representing a discount of 5.70% compared with the issue price of Rs 299.

The scrip was listed at Rs 285, at a 4.68% discount to the issue price.

The stock has hit a high of Rs 298 and a low of Rs 274.05. On the BSE, over 8.18 lakh shares of the company were traded in the counter.

IPO Update:

Jinkushal Industries received bids for 46,81,800 shares as against 1,18,73,520 shares on offer, according to stock exchange data at 15:15 IST on Thursday (25 September 2025). The issue was subscribed 1.77 times.

The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 115 and Rs 121 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.

TruAlt Bioenergy received bids for 18,89,220 shares as against 1,23,55,424 shares on offer, according to stock exchange data at 15:15 IST on Thursday (25 September 2025). The issue was subscribed 0.15 times.

The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 472 and Rs 496 per share. An investor can bid for a minimum of 30 equity shares and in multiples thereof.

BMW Ventures received bids for 46,84,171 shares as against 2,34,00,000 shares on offer, according to stock exchange data at 15:15 IST on Thursday (25 September 2025). The issue was subscribed 0.20 times.

The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 94 and Rs 99 per share. An investor can bid for a minimum of 151 equity shares and in multiples thereof.

Epack Prefab Technologies received bids for 92,47,786 shares as against 1,76,70,103 shares on offer, according to stock exchange data at 15:15 IST on Thursday (25 September 2025). The issue was subscribed 0.52 times.

The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 194 and Rs 204 per share. An investor can bid for a minimum of 73 equity shares and in multiples thereof.

Jain Resource Recycling received bids for 3,68,93,376 shares as against 3,12,49,999 shares on offer, according to stock exchange data at 15:15 IST on Thursday (25 September 2025). The issue was subscribed 1.18 times.

The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 220 and Rs 232 per share. An investor can bid for a minimum of 64 equity shares and in multiples thereof.

Seshaasai Technologies received bids for 64,27,62,960 shares as against 1,37,67,095 shares on offer, according to stock exchange data at 15:20 IST on Thursday (25 September 2025). The issue was subscribed 46.69 times.

The issue opened for bidding on Tuesday (23 September 2025) and it will close on Thursday (25 September 2025). The price band of the IPO is fixed between Rs 402 and 423 per share. An investor can bid for a minimum of 35 equity shares and in multiples thereof.

Anand Rathi Share and Stock Brokers received bids for 17,69,62,968 shares as against 1,33,63,342 shares on offer, according to stock exchange data at 15:20 IST on Thursday (25 September 2025). The issue was subscribed 13.24 times.

The issue opened for bidding on Tuesday (23 September 2025) and it will close on Thursday (25 September 2025). The price band of the IPO is fixed between Rs 393 and 414 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.

Solarworld Energy Solutions received bids for 36,09,65,178 shares as against 80,93,092 shares on offer, according to stock exchange data at 15:25 IST on Thursday (25 September 2025). The issue was subscribed 44.60 times.

The issue opened for bidding on Tuesday (23 September 2025) and it will close on Thursday (25 September 2025). The price band of the IPO is fixed between Rs 333 and 351 per share. An investor can bid for a minimum of 42 equity shares and in multiples thereof.

Jaro Institute of Technology Management and Research received bids for 5,22,03,712 shares as against 37,23,404 shares on offer, according to stock exchange data at 15:25 IST on Thursday (25 September 2025). The issue was subscribed 14.02 times.

The issue opened for bidding on Tuesday (23 September 2025) and it will close on Thursday (25 September 2025). The price band of the IPO is fixed between Rs 846 and 890 per share. An investor can bid for a minimum of 16 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Realty index dropped 1.65% to 875.90. The index tumbled 5.15% in four consecutive trading sessions.

Prestige Estates Projects (down 3.63%), Lodha Developers (down 2.83%), Godrej Properties (down 2.82%), DLF (down 1.96%), Oberoi Realty (down 1.42%), Sobha (down 1.37%), Phoenix Mills (down 1.21%) and Raymond (down 0.32%) declined.

On the other hand, Brigade Enterprises (up 0.56%) and Anant Raj (up 0.41%) edged higher.

Stocks in Spotlight:

Hindustan Copper spurted 6.62% as global copper prices rallied following a major supply disruption at Freeport-McMoRan's Grasberg mine in Indonesia. The mining giant said operations at the massive copper and gold site remain suspended after a deadly mud rush incident that killed two workers, with search efforts still underway for five missing employees. Freeport noted that the suspension will trim its third-quarter consolidated sales by about 4% for copper and 6% for gold compared with July estimates. The disruption at Grasberg, one of the world's largest copper mines, sent copper prices higher.

Maharashtra Seamless added 1% after the company has secured a domestic order worth approximately Rs 256 crore for the supply of seamless pipes to the oil and gas sector.

Crisil shed 0.22%. The company announced the acquisition of McKinsey PriceMetrix Co., a leading provider of performance benchmarking and data-driven insights for the wealth management industry.

Jaykay Enterprises jumped 5.19% after the company announced its joint venture entity J K Phillips LLP has received a letter of acceptance (LoA) from Ircon International for a contract value of Rs. 139.48 crore.

Gujarat Pipavav Port advanced 1.99% after the company announced that it has received a letter from ONGC awarding a contract for hiring port and storage facilities at Pipavav Port.

Highway Infrastructure slipped 2.30%. The company has bagged a Rs 31.08 crore order from the National Highways Authority of India (NHAI) for operating & maintaining the Chotiya Fee Plaza on the Katghora'Shivnagar stretch (Package II) of NH-111 (New NH-130) in Chhattisgarh.

Lupin declined 1.54%. The company has received tentative approval from the United States Food and Drug Administration (USFDA) for its ANDA for Bictegravir, Emtricitabine, and Tenofovir Alafenamide Tablets, 50 mg/200 mg/25 mg.

Newgen Software Technologies advanced 3.87% after the company secured an order worth Rs 21.24 crore from Kshema General Insurance for software license, implementation, and annual support services.

Knowledge Marine & Engineering Works gained 2.14% after the company announced that it has secured a work order valued at Rs 91.85 lakh from the Deendayal Port Authority (DPA).

Global Markets:

European market declined on Thursday as concern over U.S. trade policy reared its head once again.

Asian market ended lower as sentiment remained cautious following continued selling in U.S. technology stocks for a second consecutive session.

The weakness in Wall Street spilled over into Asia, with investors also positioning for upcoming month- and quarter-end portfolio rebalancing. According to media reports, such rebalancing could trigger selling pressure in U.S. and Japanese indices, while German and Australian markets are expected to benefit from fresh inflows.

Attention now shifts to key U.S. economic data later this week. The final estimate of second-quarter GDP is due Thursday, while the Fed's preferred inflation gauge, the Personal Consumption Expenditures (PCE) report will be released on Friday. The looming risk of a U.S. government shutdown at the start of the new fiscal year adds to investor caution.

In commodities, oil prices eased after hitting a seven-week high in the prior session. Profit-taking followed a sharp rally sparked by an unexpected drawdown in U.S. crude inventories and ongoing concerns that Ukrainian strikes on Russian refineries could disrupt global supply chains.

Overnight on Wall Street, all three major indices closed lower as investors locked in profits after record highs. The S&P 500 fell 0.28% to 6,637.97, the Nasdaq Composite declined 0.34% to 22,497.86, and the Dow Jones Industrial Average slipped 0.37% to 46,121.28.

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