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Informist, Wednesday, Sept. 9, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Mkts remain lower; Infosys, banking majors drag down Nifty 50

 

MUMBAI--1030 IST--Benchmark indices remained in the red. Information technology stocks remained the major drags in the Nifty 50 index as higher crude oil prices and greater odds of the US Federal Reserve hiking interest rates dampened sentiment. The broader markets mirrored the benchmarks.

 

At 1027 IST, the Nifty 50 was 0.4% lower at 23535.10 points and the BSE Sensex fell 0.6% to 75116.55 points. Nifty 50 heavyweights HDFC Bank and ICICI Bank were down nearly 1?ch and also contributed to decline in the index. Small-cap indices were down 0.1–0.2% and mid-cap indices fell 0.4–0.5%. On the sectoral front, the Nifty IT index was down over 3%, falling for the sixth consecutive session.

 

Information technology giant Infosys was the major drag on the Nifty 50 index. The stock traded nearly 3% lower. Meanwhile, Tech Mahindra, HCL Technologies, Tata Consultancy Services, and Wipro fell 2–3%. Coforge was slightly off lows but was still 5.5% down. It was the worst-hit stock in both the Nifty 200 and Nifty 500 indices. Coforge came under pressure after Chairman O.P. Bhatt resigned with immediate effect after the company's internal auditor found issues with a board evaluation report. This report was prepared under the guidance of Bhatt.

 

 

Shares of Adani Enterprises were up nearly 6% after the company decided to sell a 5.5% stake in its airport unit to raise INR 98 billion. Adani Enterprises was the top gainer in the Nifty 50 index. Max Healthcare Institute was the second-top performer in the 50-stock index and it was up nearly 4%. Graphite India was the top gainer in the Nifty 500 index and was up nearly 16%. Shares of the company rose after GrafTech International hiked graphite electrode prices by 30% Tuesday.  (Utthara E. S.)

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Equity Alert: Mkt opens lower as crude inches closer to $100/bbl; IT cos fall

 

MUMBAI--0939 IST--Benchmark indices opened lower for the third session as crude oil prices rose closer to the psychologically crucial $100 per barrel, dampening investor sentiment. The November futures of Brent crude oil were above $99 per barrel. Information technology stocks were the major laggard in the indices Wednesday. At 0938 IST, the Nifty 50 was 0.5% lower at 23524.75 and the BSE Sensex fell 0.6% to 75117.94. 

 

Information technology companies Infosys, Tech Mahindra, HCL Technologies, and Wipro fell around 2-3% and were the worst hit stocks in the Nifty 50. Heavyweight stocks HDFC Bank and Reliance Industries were down nearly 1%. Automobile companies Tata Motors Passenger Vehicles, Eicher Motors, and Mahindra & Mahindra fell around 1?ch. HDFC Life Insurance Co., Bharti Airtel, Jio Financial Services, Eternal, State Bank of India, and Hindustan Unilever fell around 1?ch. 

 

On other hand, Max Healthcare Institute was the top gainer among the Nifty 50 constituents, up over 3%. Adani Enterprises rose nearly 3?ter its wholly-owned subsidiary Adani Airports decided to sell 5.5% stake to several investors, including BlackRock. Coal India and NTPC rose nearly 2?ch. Larsen & Toubro, Apollo Hospitals Enterprises, and Hindalco Industries gained around 1?ch. Oil and Natural Gas Corp. was up nearly 1%. Shares of the oil explorer rose amid elevated crude oil prices.  

 

All broader market indices were lower. Smallcap indices fell 0.1-0.2% and midcap indices fell 0.4-0.5%. Among the sectoral indices, Nifty IT fell over 3%. Nifty Financial Services and Nifty Auto fell 0.7?ch. On the other hand, Nifty Energy rose nearly 1% and was the top performer among the sectoral indices. 

 

Shares of Coforge fell after the sudden resignation of Chairman O.P. Bhatt. The resignation comes after the company's internal auditor found issues with a board evaluation report, which was prepared under the guidance of Bhatt. Following Bhatt's resignation, the company has appointed Vivek Sharma as the interim chairperson until Jan. 31. "The immediate change in leadership creates a degree of governance uncertainty, particularly as the resignation stems from concerns identified through an internal audit rather than being a routine transition," ICICI Securities said in a note. The stock was down over 6% and was the worst hit in both the Nifty 200 and Nifty 500 indices.  (Adhithya Aji)

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Equity Alert: Indices seen down at open as crude prices remain above $99/bbl

 

MUMBAI--0823 IST--Indices are seen opening lower as crude oil prices rose above $99 per barrel on continued military action in West Asia. On Tuesday, the US and Iran continued attacking each other, keeping the tensions in the region heightened. Asian indices opened mixed Wednesday as they saw some gains in chip stocks, while the US indices ended lower on higher crude oil prices.

 

The US launched missile attacks on Iranian oil carriers Tuesday after the Islamic Revolutionary Guard Corps attacked a US Navy ship, US Central Command said in an X post. Islamic Revolutionary Guard Corps targeted a US Navy ship with ballistic missiles twice over the past two days, the social media post said. This conflict follows the Houthi rebels' attacks on Aramco's oil sites in Saudi Arabia. Analysts said the movement of crude oil prices is likely to determine the sentiment for Indian equity markets. At 0736 IST, the November futures of Brent crude were at $99.25 per barrel, up over 1%.

 

On Tuesday, the Nifty 50 ended 0.6% lower at 23635.10 due to higher crude oil prices. The Nifty index has reached its immediate price support around the 23600 spot level, according to Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market. "The possibility of a bounce-back rally up to 24000 spot levels cannot be ruled out at this juncture. Conversely, a decisive close below 23600 will have a negative impact that could trigger selling pressure and drag it toward 23350 spot levels. 

 

On the stock front, shares of Coforge will be on focus Wednesday after the sudden resignation of Chairman O.P. Bhatt. The resignation comes after the company's internal auditor found issues with a board evaluation report, which was prepared under the guidance of Bhatt. Following Bhatt's resignation, the company has appointed Vivek Sharma as the interim chairperson until Jan. 31.  (Adhithya Aji)

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Equity Alert: Asian indices mixed, South Korea's Kospi gains most

 

MUMBAI--0810 IST--Major stock markets in Asia were mixed Wednesday. South Korea's key index, Kospi, gained the most in the region, followed by Taiwan's Taiex. However, cautious sentiment is likely to prevail as crude oil prices remain high, and market participants await key inflation data from the US due later this week. 

 

In technology news, South Korea plans to increase the commercialisation of solid-state batteries, United Press International reported. The country's major battery makers, Samsung SDI, LG Energy Solution, and SK On are seeking to boost commercialisation. Samsung SDI aims to complete preparations for mass production next year while LG Energy is targeting mass production in 2029. SK On is also targeting commercialisation in 2029, according to the report. Shares of LG Energy Solution were up more than 1%, and those of Samsung SDI Co. more than 2%.

 

On the macroeconomic front, China's producer price index rose 3.8% on year in August, higher than the 3.6% rise forecast in a Reuters poll. Producer price inflation accelerated from 3.5% in July. The consumer price index, meanwhile, rose 0.8% on year in August, up from 0.5% in July. China's consumer inflation was in line with Reuters' expectations. "Higher international crude oil and non-ferrous metal prices have pushed up prices across related industries in China," Dong Lijuan, a statistician at NBS, said, according to Reuters. China's key indices, the SSE Composite and the CSI 300, were slightly up during early trade. 

 

The following are the levels of key indices in the region at 0807 IST: 

 

Index	Level	Change in %
Nikkei 225 Day	65406.75	0.21
TOPIX FIRST SECTION	4060.06	0.24
S&P/ASX 200 Index	8895.00	(-)0.29
KOSPI Index	7068.19	1.63
Hang Seng Index	25296.51	(-)0.08
CSI 300 Index	4573.0815	0.31
FTSE Singapore Strait Times	5717.99	(-)0.29

 

(Ruchira Kagita)

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Equity Alert: US indices fall for second session Tue, Dow Jones down over 1%

 

MUMBAI--0737 IST--Major US indices fell for the second session in a row Tuesday amid elevated crude oil prices and fresh hostilites in West Asia. Market sentiment was likely tepid ahead of key inflation data set to be released later this week. The inflation print will provide investors insight regarding the odds of the US Federal Reserve hiking interest rates this month. 

 

"The conflict between the US and Iran is beginning to look less like a temporary disruption and more like a longer-term backdrop for markets," Jeff DerGurahian, chief investment officer at loanDepot, was quoted as saying by Reuters. 

 

Tuesday, the Dow Jones Industrial Average fell the most and for the second session in a row, closing over 1% lower. It was followed by the broader market, S&P 500, which declined 0.6%. The NASDAQ Composite also closed in the red. 

 

In the blue-chip Dow Jones, only five constituents ended in the positive territory. Retail majors, Home Depot and Johnson & Johnson fell over 2?ch and technology majors such as Nvidia Corp. lost 2% while Amazon and Microsoft fell over 1?ch. Among others, software companies Salesforce fell 4% and ServiceNow 5%. 

 

Shares of Apple fell over 1% ahead of its "Surprise and shine" event where it will unveil the iPhone 18 series under Chief Executive Officer John Ternus for the first time. Apple is also likely to reveal its first foldable iPhone. Among the Magnificent Seven stocks, only shares of Tesla gained. The stock closed about 4% higher. 

 

In the S&P 500, there appears to be a mid-cycle rotation towards stocks with quality and strong free cash flow, Morgan Stanley said in a report. For the near term, there is a shift towards asset light businesses and adopters of artificial intelligence from AI enablers, the brokerage said. "We expect the long leg to increasingly feature services-oriented, asset-light companies with strong free cash flow—Software, Financial Services, Insurance and Healthcare Services are likely to be more heavily represented," Morgan Stanley said. 

 

Following are the closing levels of US indices Tuesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52786.07	(-)1.18
NASDAQ Composite	26421.413	(-)0.32
S&P 500	7673.52	(-)0.58

 

(Ruchira Kagita)

 

US$1 = INR 95.18

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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