Stock Market Live Updates Today, September 23, 2025: Market closes in red! Nifty falls 32.85 points to 25,169.50, Sensex down 57.87 points to 82,102.10

Indian benchmark indices ended slightly lower on September 23, with the Sensex falling 57.87 points to close at 82,102.10 and the Nifty slipping 32.85 points to 25,169.50.

The Organisation for Economic Co-operation and Development (OECD) has revised its outlook for India, raising the FY26 GDP growth forecast by 40 basis points (bps) while slashing the consumer price index (CPI) inflation estimate by 120 bps.

Gujarat Mineral Development Corporation surged 11.08% to an all-time high of ₹627.75 in Tuesday’s session, making it one of the top gainers on NSE. The stock rallied from its previous close of ₹565.15, adding over ₹62 to its price. GMDC’s market capitalization now stands at ₹1.98 lakh crore, with the stock moving in a day range of ₹565.55–₹626.80.

The Supreme Court has ruled that the transfer of goods from a Domestic Tariff Area (DTA) to a Special Economic Zone (SEZ) cannot be treated as an export outside India, thereby exempting such transactions from export duty under the Customs Act, 1962. A bench comprising Justice BV Nagarathna and Justice R Mahadevan dismissed the Union government’s appeal against a ruling in favour of Adani Power Limited and other entities. The Court observed that the movement of goods to SEZs qualifies as a domestic supply, and therefore no export duty can be levied.

Jaguar Land Rover (JLR) has extended the closure of its factories until October 1 following a cyber attack, according to a report by Sky News. The company had earlier paused production as it worked to resolve the disruption caused by the incident.

HDFC Bank has scheduled its Board meeting on October 18, 2025, to approve unaudited standalone and consolidated financial results for Q2 FY26. The bank also informed that its trading window will remain closed for designated employees and immediate relatives from September 24 to October 20, 2025

After slipping below the crucial 25,100 mark earlier, the Nifty staged a strong recovery to trade above 25,200, while the Sensex rebounded more than 400 points from intraday lows. The sharp pullback reflects buying support at lower levels, helping markets trim earlier losses amid expiry-day volatility.

ACME Solar confirmed it emerged as the lowest bidder in Rewa Ultra Mega Solar’s e-auction for the Morena Solar Park project with battery storage in Madhya Pradesh. The company clarified it is still awaiting the formal Letter of Award from RUMSL and noted that acceptance of the LoA would be the appropriate stage for disclosure. ACME also stated the news has no material impact on its operations or financials

Midcap stocks faced selling pressure in Tuesday’s session. Adani Total Gas slipped 3.12%, Bharat Dynamics dropped 2.65%, Aditya Birla F fell 2.55%, MphasiS declined 2.48%, and Bandhan Bank was down 2.32%. Other notable losers included Coforge (-2.23%), Cochin Shipyard (-2.06%), Indian Renew (-2.06%), MM Financial (-1.84%), BSE Limited (-1.83%), and Mazagon Dock (-1.82%).

India’s volatility index climbed 2.68% to 10.84 by noon trade, compared to its previous close of 10.56. The move indicates a slight increase in market uncertainty as traders track sectoral action and festive season demand trends.

Shares of Vodafone Idea surged over 4% to ₹8.76, while Indus Towers gained nearly 1% to ₹358.80 in Monday’s session.

Both stocks witnessed a sudden spike around midday, touching their respective intraday highs.

Central Bank of India has announced a strategic partnership with C2FO Factoring Solutions Pvt. Ltd., which operates the RBI-licensed TReDS platform C2Treds, to provide Trade Receivables Discounting System (TReDS) services for MSMEs across India.

The collaboration aims to enhance liquidity, financial inclusion, and transparent receivables management for small and medium enterprises. This move is in line with the RBI’s push to expand digital financing avenues and support MSMEs with faster access to working capital.

MRF Ltd has issued a clarification regarding reports of a strike at its Tiruvottiyur plant in North Chennai, stating that the protest by some workmen over annual insurance premium payments and the hiring of trainees under government apprenticeship schemes is illegal. The company confirmed that operations are partly continuing with non-striking workers and that steps are being taken to restore normalcy at the earliest. MRF also added that the strike’s impact does not exceed its financial reporting thresholds under SEBI regulations and is therefore not considered material for disclosure.

Parsvnath Developers Ltd has announced progress on its 112.85-acre integrated township project in Rajpura, Punjab, strategically located along GT Road near Shambu Border Railway Station, just 20 km from Ambala and Chandigarh. The project will feature plots, group housing, commercial complexes, clubs, and schools, with necessary licenses already secured from competent authorities.

United Breweries Limited (UBL), part of the Heineken group, has announced the relaunch of Kalyani Black Label Strong beer in West Bengal from September 23, 2025. Priced at ₹140 per 650ml bottle, the relaunch aims to reconnect with long-time loyal consumers while attracting new beer drinkers. With deep cultural roots in Bengal, the brand’s comeback is expected to strengthen UBL’s presence in the strong beer segment in the state.

The markets were under pressure in today’s session with the Nifty falling 103 points to 25,099.15, slipping below the crucial 25,100 mark. The Sensex also declined 337 points to 81,822.95, both indices down 0.41% each. Expiry-day volatility and profit booking in key sectors weighed on sentiment.

Shares of PVR Inox came under focus today after the Karnataka High Court stayed till further orders the Karnataka Cinemas (Regulation) Amendment Rules, 2025, which sought to cap movie ticket prices at ₹200. The stock, however, was seen trading slightly down at ₹1,109, slipping from the day’s high of ₹1,119.90. While the court’s decision provides relief for multiplex operators, investor sentiment around the counter remained muted with mild profit booking.

Ola Electric has announced its festive season campaign ‘Ola Celebrates India’, introducing the Muhurat Mahotsav, under which its EV scooters and motorcycles will be available at never-before prices starting ₹49,999 for 9 days from September 23, 2025. Models like the S1 X (2kWh) and Roadster X (2.5kWh) will be offered at ₹49,999, while premium variants such as S1 Pro+ (5.2kWh) and Roadster X+ (9.1kWh) will be priced at ₹99,999. Units will be limited and sold on a first-come, first-served basis, with daily Muhurat time slots announced via Ola’s social media.

Shares of MRF Ltd scaled a new all-time high of ₹1,55,600 in today’s trade, rising nearly 1.8%. The stock opened at ₹1,53,000, touched a low of ₹1,52,995, before rallying to record levels. At last check, MRF was quoting at ₹1,55,590, supported by healthy volumes. With this move, the tyre major has extended its strong momentum, trading well above its 52-week low of ₹1,02,124.

Shares of Adani Total Gas (ATGL), which surged over 28% in the past two trading sessions from around ₹605 to ₹780, witnessed a sharp correction today. The stock opened at ₹790, touched a high of ₹798 and a low of ₹741, before trading lower by 4.1% at ₹748.65. Volumes remained strong at nearly 9.8 crore shares, indicating heavy activity as investors booked profits after the recent sharp rally.

Veefin Solutions Limited has announced its foray into Sri Lanka through a strategic partnership with IWS Holdings to accelerate digital transformation in the country’s banking and financial services sector. The company will showcase its Working Capital Technology Platform at the Sri Lanka Fintech Summit on September 24–25, 2025.

Hero MotoCorp has unveiled the all-new Destini 110, positioned as a durable and family-first scooter under the tagline “Hero Ka Scooter – Scooter Ka Hero.” Priced at ₹72,000 (VX Cast Drum) and ₹79,000 (ZX Cast Disc), the scooter offers segment-leading mileage of 56.2 kmpl, a long 785 mm seat with integrated backrest, robust metal body, and neo-retro styling. Sales will begin in phases across Hero dealerships nationwide.

Vaibhav Global Limited (VGL) has been conferred with the ‘Excellence in Manufacturing Award’ by the Indo-American Chamber of Commerce (IACC) at the 21st Indo-American Corporate Excellence Conclave 2025. The recognition celebrates corporates that set benchmarks in operational excellence, efficiency, and responsible production.

Several Nifty 50 stocks are trading higher today with notable gains. Maruti Suzuki advanced 2.30% to ₹16,180, while Eicher Motors climbed 1.62% to ₹7,058.50. Adani Enterprises added 1.58% at ₹2,671, and Bajaj Finance gained 1.44% to ₹1,021. The rally is being led by auto and financial names, lifting sentiment in select large-cap counters.

EaseMyTrip has announced its festive Dussehra Sale, running from September 23–26, 2025, offering attractive discounts across flights, hotels, buses, cabs, and holiday packages. Customers can avail up to ₹8,000 off on flights, ₹10,000 off on hotels, ₹500 off on buses and cabs, and holiday packages starting at ₹9,999 using the promo code EMTFEST. The company has partnered with leading airlines, hotel chains, and banks to extend additional offers.

Sectoral trends remain mixed in today’s session. Auto is the top performer, up 0.79%, followed by Banking (+0.25%) and Finance (+0.11%). On the flip side, Realty (-0.48%), Technology (-0.52%), Consumer (-0.67%), and Cement (-0.71%) are under pressure. Broader markets are witnessing selective buying with sector rotation in play.

Several stocks scaled fresh 52-week highs in today’s session. GMDC touched ₹588, Ashok Leyland hit ₹143.90, and Maruti surged to ₹16,325. Hyundai also marked a new high at ₹2,890, while Usha Martin gained momentum near ₹451. The rally in these counters highlights strong sectoral buying interest.

Top losers at 10:07 AM are led by Adani Power, falling 3.23% to ₹164.75. ATGL is down 2.89% at ₹758.15, while India Cements slipped 2.81% to ₹380. LT Foods dropped 2.65% to ₹444.55 and Netweb Technologies declined 2.59% to ₹3,443.80. These stocks are among the top losers dragging the market in early trade.

Both gold and silver have surged to record levels. MCX Gold hit an all-time high of ₹1,12,675, gaining 0.41%, while spot gold traded at ₹37,445. Meanwhile, MCX Silver scaled a peak of ₹1,33,922, up 0.24%, with spot silver quoting at ₹43.88. Precious metals are witnessing strong momentum amid global market cues.

Top gainers today are led by KEC International, which is up 7.26% at ₹929 on strong volumes. GSPL is higher by 3.59% at ₹324.25, while JBMA is trading 3.55% up at ₹768. Among other top gainers, RR Kabel and Maruti Suzuki are up 2.26% each, quoting at ₹1,295.80 and ₹16,174 respectively.

Three public issues are set to close today, September 23, 2025. Siddhi Cotspin Ltd (SME) has been subscribed 3.12x, GK Energy Ltd (Mainboard) saw robust demand at 6.41x subscription, while Saatvik Green Energy Ltd (Mainboard) has garnered 1.09x bids so far.

Crude oil slipped 0.34% to ₹5,503, while natural gas dropped 0.80% to ₹247.70. On the other hand, precious metals edged higher — gold gained 0.32% to ₹1,12,587 and silver rose 0.11% to ₹1,33,707.

The market extended losses in early trade with the Nifty falling 69 points to 25,133, slipping below the 25,150 mark. The Sensex was down 201 points at 81,958, tracking weakness across sectors on F&O expiry day.

Vodafone Idea shares climbed 1.8% to ₹8.54, crossing the ₹8.5 mark in Tuesday’s trade. The stock hit an intraday high of ₹8.61, with volumes surging past 22.1 crore shares. Open interest stood at over 3.26 billion contracts, indicating strong derivative activity. The counter is trading well above its 52-week low of ₹6.12 but remains below its yearly peak of ₹11.94.Vodafone Idea share rises 1.8% to ₹8.54, crosses ₹8.5 mark on heavy volumes

KEC International surged over 7% to ₹929 after securing fresh orders, including its largest-ever EPC contract in the Middle East. The wins cover a 400 kV transmission line project in the UAE and supply of towers and hardware in the Americas. MD & CEO Vimal Kejriwal said the deals boost KEC’s presence in the Middle East and lift year-to-date order intake to ~₹11,700 crore. The stock touched ₹934 intraday, nearing its 52-week high of ₹1,313.

Auto shares gained strongly in early trade on Tuesday. Ashok Leyland surged 3.21% to ₹143.89, Hyundai rose 2.88% to ₹2,800, and Maruti climbed 2.63% to ₹16,232. M&M advanced 1.52% to ₹3,639, while Eicher Motors, Tata Motors, and TVS Motor gained between 1–1.4%. Bajaj Auto and Hero MotoCorp also traded higher, adding to the sector’s festive season momentum.

Systematix Corporate Services Limited has announced an initial commitment of up to ₹10 crore, in one or more tranches, as a sponsor in the India SME Growth Fund – Series 2, a Category I Alternative Investment Fund (AIF). The company’s wholly-owned subsidiary, Systematix Wealth & Asset Services, will act as the investment manager of the AIF.

Tata Motors reported robust festive demand, delivering over 10,000 cars on the first day of Navratri. The strong sales momentum lifted the stock, which surged 1.54% to ₹706.95 in early trade on Tuesday, with volumes crossing 1.5 crore shares. The stock hit a day’s high of ₹707.80, extending gains after yesterday’s close at ₹696.25.

IT shares showed a mixed trend in early trade on Tuesday. Oracle Financial Services Software (OFSS) gained 1.28% to ₹9,172.50, leading the pack, while Infosys, LTTS, Tata Tech, Wipro, TCS, LTIM, and Tata Elxsi were up between 0.06% and 0.44%.

On the other hand, Mphasis slipped 1.90% to ₹2,798.10, marking the sharpest fall in the segment. Coforge declined 0.48%, HCLTech eased 0.28%, and Persistent was marginally lower at 0.03%.

Banking shares opened on a mixed note in Tuesday’s session. Among private lenders, HDFC Bank gained 0.31% to ₹967.15, while Axis Bank edged up 0.04% and Federal Bank added 0.21%. On the flip side, Kotak Mahindra Bank slipped 0.35%, ICICI Bank was down 0.03%, and Bandhan Bank fell 0.48%.

In PSUs, Bank of Baroda was marginally higher by 0.03%, but Canara Bank declined 0.61%, Indian Overseas Bank dropped 0.63%, and Bank of Maharashtra was down 0.52%. SBI also fell 0.18%, while Punjab National Bank and Union Bank saw marginal declines.

Adani group shares were under pressure in early trade on Tuesday. Adani Total Gas fell 3.18% to ₹755.95, while Adani Power dropped 1.20% to ₹168.20 and Adani Energy Solutions lost 1.17% to ₹926.40. Adani Green slipped 0.83%, Adani Enterprises declined 0.67%, Adani Ports eased 0.59%, and Adani Wilmar fell 1.03%.

The Sensex rose 0.07% to 82,217, while the Nifty 50 gained 0.07% to 25,220 in early trade on Tuesday. The Nifty Bank was flat at 55,280, while the Nifty Smallcap 100 slipped 0.08% to 18,274. Futures indicated mixed momentum, with Nifty 50 futures trading at 25,277 and Bank Nifty futures slightly lower at 55,453.

Indian equities opened on a muted note on Tuesday. The Sensex slipped 12 points to 82,147, while the Nifty inched up 6 points to 25,209. Investors are tracking global cues, rupee weakness, and sector-specific moves ahead of the weekly F&O expiry.

The Indian rupee weakened further on Tuesday to hit a record low of 88.55 against the U.S. dollar, breaching its previous lifetime low. The fall comes amid persistent global risk-off sentiment and weakness in emerging market currencies. The Indian rupee opened at 88.41 per dollar on Tuesday, slipping 10 paise from Monday’s close of 88.31, tracking cautious sentiment in global markets.

Birlasoft Limited informed exchanges that it does not anticipate any immediate significant impact from the recent U.S. executive order and USCIS memorandum related to H-1B visa applications. The company said it remains committed to ensuring service continuity and is strengthening global delivery capabilities and talent sourcing to enhance operational resilience. Birlasoft added that it will continue to monitor developments and provide further updates as required.

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Zaggle Prepaid Ocean Services Limited informed exchanges that it has entered into an agreement with Mastercard Asia/Pacific Pte. Ltd. Under the pact, Mastercard will incentivise Zaggle to launch and promote co-branded domestic prepaid cards on the Mastercard network.

The agreement is effective from September 22, 2025 and will remain in force till September 30, 2030. Zaggle said the contract is a customer business agreement for Mastercard domestic prepaid cards co-branded with “Zaggle.” The company clarified that neither its promoters nor group entities have any interest in the awarding entity, and the arrangement does not qualify as a related-party transaction.

JPMorgan reaffirmed overweight on L&T with a target price of ₹4,240, highlighting strong domestic infra capex opportunities. It said L&T remains well-positioned to benefit from ambitious state capex, West Asia oil & gas spending, and expansion into renewables and infrastructure.

CLSA turned more positive on Indian regulated utilities, upgrading Tata Power to hold (TP ₹369) and downgrading SJVN to hold (TP ₹90). It said demand is likely to pick up in H2FY26, while NTPC prepares to launch its first $6 bn nuclear project.

Citi kept a buy call on Shree Cements with a target of ₹35,500, expecting FY26 volumes of 37–38 mt. It highlighted stable pricing and regional outperformance in the East, aided by Bihar elections, while price hikes from earlier this year remain intact.

Jefferies maintained a buy on Vishal Mega Mart with a target of ₹175. It noted double-digit SSSg despite weak demand, more than 80 planned store additions annually, and a new pilot for smaller-format stores in tier-III towns, alongside strong private-label momentum.

Nomura initiated a buy on Hyundai with a target of ₹2,846, forecasting 9% volume CAGR over CY25–30. It cited a strong model pipeline, hybrid/EV focus, and robust export margins. EPS CAGR is projected at 27% over FY26–28.

Nomura projected an EBITDA CAGR of 25–27% for the sector over FY25–28, citing production cuts, China stimulus hopes and rising domestic prices. It raised JSW Steel’s target to ₹1,300 and JSPL’s to ₹1,150, supported by capacity expansions and structural cost advantages.

HSBC reiterated a buy on Phoenix Mills with a ₹2,000 target. The brokerage said the success of its office strategy is critical for both near-term earnings and long-term growth. While performance has disappointed so far, early signs of improvement are visible.

HSBC maintained a buy on Axis Bank, raising its target price to ₹1,340, citing credit costs and NIMs as medium-term levers with clarity improving on high-teens EPS growth in FY27. UBS cut its target price on Bandhan Bank to ₹188 with a neutral rating, flagging sluggish asset quality improvement and higher credit costs.

The Defence Secretary pointed to a major capex boost and confirmed plans for a ₹30,000 crore drone purchase, lifting sentiment in defence stocks.

RVNL commissioned traction substations for a new electric rail line worth ₹145 crore. KEC International secured international T&D orders worth ₹3,243 crore.

Suraj Estate unveiled ‘Suraj Park View 1’ at Shivaji Park, Dadar, with GDV of ₹250 crore. Brigade Enterprises signed a residential development in South Bengaluru with GDV of ₹1,200 crore.

Birla Corp was declared preferred bidder for the Guda-Rampur limestone and manganese block in Telangana. JK Lakshmi Cement commissioned a 1.35 mt grinding unit at Surat, taking total capacity to 18 mt.

Alkem Labs launched a Pertuzumab biosimilar for breast cancer treatment in India. Shilpa Medicare received EU regulator approval for Rivaroxaban, a drug used to prevent blood clotting.

Maruti delivered 25,000 cars on Day 1 of Navratri, calling it an unprecedented response, while Hyundai recorded 11,000 billings, its best in five years. JBM Auto said UAE’s Al Habtoor Motors will be the exclusive importer of its electric buses.

Gold prices rose ₹10 to ₹1,13,080 per 10 grams, while silver gained ₹100 to trade at ₹1,38,100 per kg on Tuesday. Precious metals extended their steady momentum amid cautious global cues.

September 23, 2025 marks the first weekly expiry for Nifty 50 futures and options contracts on a Tuesday, following NSE’s revised schedule effective September 1. All Nifty contracts — weekly, monthly, quarterly, and half-yearly — will now expire on Tuesdays instead of Thursdays. The change comes after SEBI restricted weekly expiries to one benchmark index per exchange. The last Thursday expiry was held on August 28, 2025.

Motilal Oswal, in its India Strategy report, highlighted that while the past four quarters have seen earnings downgrades, the intensity of cuts has eased to modest levels. The brokerage said the latest quarterly earnings cuts were the lowest in a year, supported by an improving macro and policy environment.

It added that a better earnings cycle, reasonable valuations (Nifty 12-month forward PE at 20.6x vs long-period average of 20.7x), and a base of underperformance (Nifty down 8% YoY vs MSCI EM +16% and S&P 500 +15%) set the stage for a potential market up-move and valuation expansion.

Axis Bank remained in focus after HSBC reiterated its buy rating on the stock and raised the target price to ₹1,340 per share. The brokerage highlighted that two of the bank’s four key levers—credit costs and net interest margins (NIM)—are likely to play out in the medium term, lending support to earnings.

HSBC noted that clarity is improving on Axis Bank’s ability to deliver high-teens year-on-year EPS growth in FY27. It further added that the valuation remains attractive, with a positive outlook for earnings recovery through FY26–28. The brokerage expects these factors to support investor sentiment going forward.

Asian equities showed a mixed trend on Tuesday. Taiwan Weighted led the gains, rising 1.08% to 26,158.88, followed by Jakarta Composite up 0.31% and Straits Times higher by 0.34%. South Korea’s KOSPI added 0.29%, while Thailand’s SET gained 0.32%. On the downside, Hong Kong’s Hang Seng fell 0.48% to 26,218 and Shanghai Composite dropped 0.79% to 3,798.16. Gift Nifty traded 39 points lower at 25,249, suggesting a weak start for Indian markets.

ACME Solar Holdings Ltd announced that it has secured ₹1,100 crore refinancing from State Bank of India for its 300 MW renewable energy project in Rajasthan. The refinancing, with a tenure of around 17 years, will reduce financing costs by nearly 100 bps. The project, operational for six months, has been consistently maintaining optimum CUF levels. ACME said the move aligns with its strategy to optimise debt costs, strengthen credit ratings, and support capacity expansion.

Global markets traded mixed as central bank signals remained divided. In the U.S., Fed officials clashed with Miran pushing for deeper cuts while Bostic ruled out further easing this year. Canada’s weak jobs reinforced more BoC cuts, while the ECB lifted its 2025 growth forecast but flagged weaker consumer spending on tariff fears. The BOJ held rates at 0.5% and flagged ETF/REIT sales, while China kept lending rates unchanged for the fourth month. Elsewhere, Indonesia surprised with a cut, Thailand’s baht hit a 4-year high, and Vietnam faces tariff headwinds.

Indian markets are likely to open lower on Tuesday as Gift Nifty traded 52 points down, signaling a weak start. The negative bias comes on the back of subdued global cues, after the Nifty had already ended Monday’s session 0.49% lower at 25,202.35 and the Sensex slipped 466 points to 82,159.97.