22 stories from 1 source

External pressure deepens, but Indian markets keep finding selective demand

Day’s Recap

Supporting Articles

5:20 AMEconomic Times

F&O Talk: 23,270 is a key Nifty hurdle; Sudeep Shah picks 5 stocks, discusses PB Fintech, Turtlemint strategy

Summary

The Nifty closed at 23,140.50 after an eighth consecutive weekly decline, with momentum indicators still bearish. Analysts see resistance around 23,270 to 23,300 and options-based support near 23,000, while Pharma and Healthcare remain relatively resilient.

The index remains trapped below a critical resistance band, so any rebound needs to clear

Why it matters

The 23,000 to 23,300 range now defines whether the market stabilizes or extends its losing streak.

4:51 AMEconomic Times

Nifty at key 23,000 support: Can bulls trigger a technical rebound?

Summary

The Nifty fell 0.88% to 23,140.50, extending its losing streak to seven weeks as technical momentum stayed weak. The 23,000 to 23,200 zone is the main support area, with resistance at 23,375 and 23,600 amid elevated volatility and derivatives expiry.

The index is approaching a level where buyers must defend the market to prevent another

Why it matters

The market is at a technical decision point, with 23,000 separating a possible rebound from renewed selling.

1:46 AMEconomic Times

Nifty logs 7th straight weekly loss for the first time in 6 years: Time to be fearful, or can bulls pull off a comeback?

Summary

The Nifty recorded its seventh consecutive weekly decline, its longest losing streak in six years, as higher crude prices, rising US Treasury yields, geopolitical risks and foreign investor outflows weighed on Indian equities. Investors will track oil, global yields, US data, Federal Reserve signals and domestic indicators for signs of a reversal.

The selloff now reflects a broad external shock rather than a single domestic trigger, leaving

Why it matters

Persistent external pressure can raise India's import bill, weaken the rupee and delay a sustained recovery in equities.

3:19 AMEconomic Times

India’s bond market performed well, equities to become attractive again: RBI’s Poonam Gupta

Summary

RBI Deputy Governor Poonam Gupta said India's bond market has performed strongly relative to its historical record and global conditions, supported by credible fiscal commitments. She also said equities have faced pressure, partly because of rapid advances in artificial intelligence overseas, but could regain appeal.

The divergence shifts the near-term market advantage toward fixed income, where fiscal credibility and stable

Why it matters

The comments reinforce the case for stronger bond-market demand while setting a higher bar for a sustained equity recovery.

3:16 AMEconomic Times

Rupee likely to trade in Rs 94.5-96 range in near term as dollar inflows fail to lift currency: Report

Summary

The rupee is expected to trade between Rs 94.5 and Rs 96 against the dollar in the near term. Dollar inflows from FCNR deposits and external borrowings are adding to RBI reserves but have not translated into substantial currency appreciation, as several forces continue to shape the exchange rate.

Reserve accumulation is absorbing much of the incoming foreign currency, limiting its direct support for

Why it matters

A weaker or range-bound rupee raises the importance of hedging for importers and companies with foreign-currency liabilities.

3:10 AMEconomic Times

ETMarkets Smart Talk | Rate-cut cycle over, RBI may be at cusp of rate hikes; yields could inch higher: Puneet Pal

Summary

PGIM India's Puneet Pal expects India's rate-cut cycle to end and sees policy rates rising by 50 to 75 basis points by FY27, driven by higher crude prices and persistent inflation. He expects yields to move higher and sees opportunities in high-quality corporate bonds and target-maturity funds.

The forecast would reverse the recent fixed-income tailwind by raising borrowing costs and putting pressure

Why it matters

A shift from cuts to hikes would reprice bonds, corporate funding costs and interest-sensitive sectors across the economy.

12:22 AMEconomic Times

Forex reserves drop to $781 billion after hitting a peak of $785 billion

Summary

India's foreign exchange reserves fell by $4.9 billion to $780.7 billion in the week ended September 11, after reaching a record of about $785 billion. The decline was largely attributed to lower gold valuations, while analysts said most FCNR(B) inflows awaiting conversion had likely already been absorbed.

The fall appears driven more by valuation changes than by a sharp deterioration in external

Why it matters

The size of India's reserves still offers substantial protection, but weaker marginal inflows could reduce the central bank's room to defend the rupee.

12:19 AMEconomic Times

Rupee recovers as large public sector banks sell US dollars

Summary

The rupee gained 15 paise to close at 95.81 against the US dollar after large public sector banks sold dollars, with market support also attributed to RBI intervention. The benchmark bond yield rose to 7.14%, its highest level in four months, as external financing needs continued to weigh on the currency.

The rupee's recovery reflects official and state-bank support rather than a clear improvement in underlying

Why it matters

Intervention can slow depreciation, but persistent external funding pressure will keep the rupee and bond market under strain.

7:35 AMEconomic Times

Same playbook, different numbers: Why FPI selling may not be the story it looks like

Summary

Indian equities extended their decline as higher crude prices, rising US Treasury yields, geopolitical risks and foreign portfolio investor selling pressured sentiment. Yet foreign investors continued to participate in IPOs, selectively buy debt and add exposure to mid- and small-cap stocks.

The key shift is from broad foreign withdrawal to more selective allocation. Large-cap equities remain

Why it matters

Headline FPI outflows may overstate the extent of foreign investors' retreat from Indian markets.

4:28 AMEconomic Times

FIIs, MFs raise stakes in 10 stocks; shares gain up to 40% in 3 months

Summary

Foreign institutional investors and mutual funds increased their holdings in several Nifty 500 companies during the June 2026 quarter. Seven of those stocks subsequently gained between 15% and 41%, spanning multiple sectors.

The buying suggests institutional investors are finding opportunities beneath the weak headline market, particularly in

Why it matters

Institutional accumulation is creating pockets of strength even as broader market sentiment remains weak.

2:33 AMEconomic Times

FIIs unlikely to return in large numbers without new growth engines in India: Bernstein

Summary

Foreign institutional investors are likely to remain cautious toward Indian equities over the coming year, with large inflows dependent on stronger sector-level competitiveness. Semiconductors and deep tech show early progress but remain too underdeveloped to serve as major investment drivers, while currency movements and changing market conditions continue to reshape foreign flows.

The decisive constraint is India’s limited supply of new, scalable growth engines rather than a

Why it matters

India may need new globally competitive sectors to sustain premium valuations and attract large foreign inflows.

6:18 AMEconomic Times

J Infratech files IPO papers; eyes Rs 600 cr via fresh issue

Summary

J Infratech has filed preliminary papers for an IPO involving a fresh issue and an offer for sale by its promoters. The Haryana-based infrastructure company plans to use the proceeds for working capital, debt repayment and other corporate purposes.

The proposed issue would give J Infratech capital to support operations while reducing borrowing pressure,

Why it matters

The filing adds another infrastructure listing to a market where IPO demand remains strong but scrutiny of leverage and project execution is rising.

4:14 AMEconomic Times

Vishal Nirmiti IPO to open on Sep 30; price band fixed at Rs 208-220

Summary

Vishal Nirmiti will open its IPO on September 30, with shares priced between Rs 208 and Rs 220. The issue will combine a fresh issue and an offer for sale, with proceeds earmarked for working capital and corporate needs.

The company is seeking public capital primarily to support operations rather than fund a clearly

Why it matters

The IPO will test investor appetite for a working-capital-led issue amid a crowded primary market.

3:44 AMEconomic Times

Baanganga Gold & Diamond files DRHP for Rs 720 crore IPO, fresh issue pegged at Rs 540 crore

Summary

Baanganga Gold & Diamond has filed draft papers for a Rs 720 crore IPO, comprising a fresh issue of up to Rs 540 crore and an offer for sale of up to Rs 180 crore. The company plans to use most of the fresh capital for working capital.

The large fresh component points to a business that needs additional funding to support inventory

Why it matters

The offer will show whether public-market investors are willing to fund the working-capital demands of a jewellery manufacturer.

3:17 AMEconomic Times

Deon Energy files draft papers with Sebi to raise funds via IPO

Summary

Ahmedabad-based solar EPC company Deon Energy has filed draft IPO papers featuring a fresh issue and a promoter offer for sale. It plans to use the proceeds to build a 30 MW solar plant in Gujarat, fund working capital and meet corporate expenses.

The proposed issue would help Deon Energy move beyond project execution into asset ownership, increasing

Why it matters

The IPO reflects how renewable companies are using public capital to shift from EPC contracting toward owned generation assets.

2:41 AMEconomic Times

Prestige Group drops Rs 2,700 cr IPO plan for hospitality arm, cites bad market conditions

Summary

Prestige Estates has withdrawn plans for a Rs 2,700 crore IPO of its hospitality business, citing unfavourable market conditions. The company may revive the offering later, subject to market conditions and regulatory approvals.

The withdrawal shows that weak or uncertain market conditions can outweigh the strategic value of

Why it matters

A large issuer abandoning an IPO signals that primary-market windows remain selective even for established real estate groups.

1:52 AMEconomic Times

JSW One Platforms files draft papers for Rs 3,054 crore IPO

Summary

JSW One Platforms has filed draft papers with SEBI for a Rs 3,054 crore IPO, comprising a Rs 1,300 crore fresh issue and a Rs 1,754.01 crore offer for sale. The company plans to use the proceeds for marketing, working capital, technology upgrades and other corporate purposes.

The IPO will provide fresh capital for expansion while allowing existing shareholders to monetise part

Why it matters

The issue could accelerate JSW One Platforms' growth while setting a valuation benchmark for India's business-to-business commerce platforms.

12:37 AMEconomic Times

Biscuit maker Anmol Industries files for $188 million IPO

Summary

Anmol Industries has filed for an IPO that could value the biscuit maker at up to Rs 18 billion, or about $188 million. The company, founded in 1994, is primarily owned by the Baijnath Choudhary and Family Trust, which holds an 84% stake, and has reported strong growth in revenue and profit.

The offering will bring a closely held packaged-food company to public markets while giving its

Why it matters

The IPO will test public-market demand for smaller Indian consumer companies beyond the sector's established leaders.

2:41 AMEconomic Times

SEBI’s new PMS framework could potentially double industry size over time: APMI Chairman Vikas Khemani

Summary

SEBI’s revised portfolio management services framework lowers the minimum investment threshold to Rs 25 lakh, introduces PRIM, and expands permissible investment options. Industry leaders expect the changes to broaden adoption while increasing the focus on global diversification, derivatives, independent managers, and risk-adjusted performance.

The lower entry threshold removes a major barrier to PMS growth and could widen the

Why it matters

Lower access barriers could turn PMS into a broader wealth-management market, but growth will depend on manager performance and investor protection.

3:31 AMEconomic Times

GIFT Nifty goes into overdrive, hits all-time high in volume and open interest

Summary

GIFT Nifty recorded a single-day volume of 457,999 contracts worth $21.18 billion on September 24, 2026, while open interest also reached a record. Activity has risen sharply since the exchange began full-scale operations in July 2023.

The records indicate that GIFT Nifty is gaining depth as an offshore venue for trading

Why it matters

GIFT Nifty is becoming a more consequential channel for global investors to express views on Indian markets.

Other Developments

A curated list of other prominent stories from this day.

2:33 AMEconomic Times

Stocks to buy: Macquarie initiates Outperform rating on these 4 capital market stocks. Do you own any?

Summary

Macquarie has initiated Outperform ratings on four capital-market stocks, signaling that it expects them to outperform their benchmarks. The article presents the broker’s stock calls for investors tracking the sector.

The ratings put renewed attention on capital-market companies that could benefit from sustained trading, investment,

Why it matters

The calls may redirect investor attention toward capital-market stocks, but their impact depends on whether earnings growth justifies current valuations.

2:06 AMEconomic Times

Concurrent Gainers: 10 smallcap stocks that gained for 5 days in a row

Summary

Ten BSE 500 small-cap stocks rose in each of the five trading sessions through September 25, even as the Sensex fell 0.54%. Their cumulative gains ranged from 11% to 41% over the period.

The divergence shows that stock-specific momentum remained strong beneath a weaker headline market. However, five

Why it matters

Small-cap leadership is creating opportunities beyond the major indices, but sharp short-term gains raise liquidity and reversal risks.

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