Market Commentary - Mid-Session
25-Sep-2025 09:36
Indices trades sideways; breath strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, rose 48.55 points or 0.05% to 81,764.18. The Nifty 50 index shed 6.55 points or 0.02% to 25,054.05.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.35% and the S&P BSE Small-Cap index added 0.23%.
The market breadth was strong. On the BSE, 1,831 shares rose and 1,194 shares fell. A total of 189 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,425.75 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,211.68 crore in the Indian equity market on 24 September 2025, provisional data showed.
Stocks in Spotlight:
Glenmark Pharmaceuticals added 0.79%. The company announced that its arm, Glenmark Specialty, entered into an exclusive licensing agreement with Hengrui Pharma for Trastuzumab Rezetecan (SHR-A1811), a HER2-targeting antibody drug conjugate.
Newgen Software Technologies jumped 5.43% after the company said that its arm signed a five-year Master Service Agreement with Tata Consultancy Services N.V., valued at '4.22 million (around Rs 44 crore).
Lupin rose 1.25%. The company announced that it has received tentative approval from the USFDA for Bictegravir, Emtricitabine & Tenofovir Alafenamide Tablets, used for treating human immunodeficiency virus (HIV) infection in adults.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.11% to 6.490 from the previous close of 6.483.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.6300 compared with its close of 88.7500 during the previous trading session.
MCX Gold futures for 3 October 2025 settlement declined 0.18% to Rs 112,356.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 97.41.
The United States 10-year bond yield slipped 0.05% to 4.146.
In the commodities market, Brent crude for November 2025 settlement lost 26 cents or 0.38% to $69.05 a barrel.
Global Markets:
Asian markets traded mixed on Thursday 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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