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Market Pulse — 23 September 2026

Indian equities rebounded on Wednesday, with the Nifty 50 closing 117.80 points higher at 23,446.80 and the Sensex up 299.17 at 74,828.25, recovering most of Tuesday's loss. Metal led — the Nifty Metal index rose 2.40% — with FMCG, PSU Bank and Realty also firmer, while IT (−0.87%) and Media were the only sectoral decliners. Foreign institutions turned net buyers of ₹1,617.45 crore in the cash market after the previous session's heavy selling, and domestic institutions added a net ₹2,341.46 crore. BSE breadth was firmly positive at 2,811 advances to 1,578 declines, India VIX fell 5.22% to 10.35, and the rupee slipped 11 paise to 95.73.

Benchmarks

Closing levels, 23 Sep 2026 · Source: NSE / BSE

Sensex
74,828.25
+299.17  ·  +0.40%
Nifty 50
23,446.80
+117.80  ·  +0.50%
Nifty Bank
56,548.90
+333.35  ·  +0.59%
Nifty Midcap 100
62,396.45
+433.30  ·  +0.70%
Nifty Smallcap 100
19,991.50
+176.05  ·  +0.89%
India VIX
10.35
-0.57  ·  -5.22%

Sectoral scorecard

NSE sectoral indices, 23 September 2026, ranked best to worst · percentage change only

IndexChange %
Nifty Metal +2.40%
Nifty FMCG +1.32%
Nifty PSU Bank +1.14%
Nifty Realty +1.10%
Nifty Pharma +0.90%
Nifty Consumer Durables +0.63%
Nifty Financial Services +0.58%
Nifty Auto +0.26%
Nifty Energy +0.09%
Nifty Media -0.50%
Nifty IT -0.87%

This edition was built after the event, when NSE's live index feed had already moved on to later sessions, so closing levels for most sectoral indices could not be taken from a same-session source and only percentage moves are shown (Upstox, Liquide and Business Standard closing reports). The one level reported for the session: Nifty Metal closed at 13,302.35 (Business Standard).

Movers

Nifty 50 constituents · 23 Sep 2026

Top gainers

SymbolLTP%
BAJFINANCE 1,043.20 +3.41%
HINDALCO 1,003.80 +3.17%
TATASTEEL 190.82 +3.16%
APOLLOHOSP 9,069.00 +2.64%
JSWSTEEL 1,297.80 +2.43%

Top losers

SymbolLTP%
HCLTECH 1,256.70 -1.08%
TITAN 4,880.00 -0.98%
INFY 1,020.50 -0.86%
COALINDIA 424.55 -0.81%
TCS 2,089.60 -0.73%

Last traded prices are the 3:30 PM snapshot published by HDFC Sky; the percentage moves match Upstox's independently published closing list to the decimal. BSE breadth was firmly positive: 2,811 shares advanced, 1,578 declined and 208 were unchanged (Business Standard).

Midcap movers

Nifty Midcap 100 constituents · 23 Sep 2026

Top gainers

Stock%
Steel Authority of India +6.57%
PB Fintech +4.50%
Motilal Oswal Financial Services +3.53%
Radico Khaitan +3.44%
Multi Commodity Exchange of India +3.41%

Top losers

Stock%
Persistent Systems -2.35%
One 97 Communications -2.17%
Swiggy -1.95%
Jubilant Foodworks -1.59%
Lupin -1.51%

Percentages as published in Upstox's closing movers list for 23 September; closing prices are not carried because no same-session source published them for this universe.

Smallcap movers

Nifty Smallcap 100 constituents · 23 Sep 2026

Top gainers

Stock%
Whirlpool of India +20.00%
Ola Electric Mobility +10.69%
Wockhardt +6.75%
IFCI +5.28%
Five-Star Business Finance +4.41%

Top losers

Stock%
Pine Labs -4.29%
Inox Wind -3.70%
Devyani International -3.26%
Redington -3.02%
Ather Energy -2.88%

Percentages as published in Upstox's closing movers list; price column omitted for the same reason as the midcap block.

Institutional flows

FII/FPI and DII activity in the cash segment

FII / FPI net
₹+1,617 cr
Bought ₹13,580.40 cr · Sold ₹11,962.95 cr
DII net
₹+2,341 cr
Bought ₹14,404.90 cr · Sold ₹12,063.44 cr

Cash-market figures for 23 Sep 2026 · provisional NSE cash-market data via the Kotak Neo mirror; 5paisa carries the same row rounded (FII +₹1,617.40 cr, DII +₹2,341.50 cr) and CNBC-TV18 reported identical figures. Provisional exchange data.

Corporate & macro desk

What moved the tape and what the IR desks were announcing

  • India's flash PMI rises to a three-month high — The HSBC flash composite PMI for September rose to 56.5 from 54.3 in August, with the manufacturing index at 55.7 (52.8) and services at 55.8 (54.1) (Business Standard).
  • ADB raises India's FY27 growth forecast to 7% — The Asian Development Bank lifted its FY27 GDP forecast to 7% from 6.6%, citing investment demand, services exports and first-quarter growth of 7.8%, while trimming its FY28 projection to 7.1% from 7.3% and its FY27 inflation forecast to 5% (Business Standard).
  • Whirlpool of India locked at 20% upper circuit — The stock rose ₹144.20 to its upper price band of ₹865.25 on reports that promoter Whirlpool Mauritius is in advanced talks to sell its remaining 39.76% stake (Kotak Neo).
  • Skipper wins ₹797 crore of orders — The transmission-structures maker secured orders worth ₹797 crore for domestic and international power transmission and distribution projects, including exports to Australia (Business Standard).
  • Subex selected by Asia-Pacific mobile operator — Subex rose 12.37% after it was chosen by a major Asia-Pacific mobile network operator to modernise its partner ecosystem management operations (Business Standard).
  • Arvind SmartSpaces reports ₹500 crore of bookings at new Bengaluru project — The Arvind Sylva project recorded more than ₹500 crore of bookings within 30 days of launch; the stock rose 10.58% (Business Standard).
  • 360 ONE WAM names Aashish Agarwal chief executive — The board approved his appointment as CEO with effect from 15 February 2027 (Business Standard).

Corporate actions on the session

Dividends that went ex on 23 September 2026 · Source: NSE (all twelve NSE rows also confirmed in Goodreturns' ex-date list); last three rows from Goodreturns

CompanyEx-datePurposeRecord date
Gujarat Mineral Development Corporation Limited (GMDCLTD) 23 Sep 2026 Dividend — Rs 9.50 per share 23 Sep 2026
Goodluck India Limited (GOODLUCK) 23 Sep 2026 Dividend — Rs 3 per share 23 Sep 2026
Gallantt Ispat Limited (GALLANTT) 23 Sep 2026 Dividend — Rs 2 per share 23 Sep 2026
Steel Strips Wheels Limited (SSWL) 23 Sep 2026 Dividend — Rs 1.50 per share 23 Sep 2026
Mishra Dhatu Nigam Limited (MIDHANI) 23 Sep 2026 Dividend — Rs 1.25 per share 23 Sep 2026
Titagarh Rail Systems Limited (TITAGARH) 23 Sep 2026 Dividend — Re 1 per share 23 Sep 2026
PNC Infratech Limited (PNCINFRA) 23 Sep 2026 Dividend — Re 0.60 per share 23 Sep 2026
Premier Explosives Limited (PREMEXPLN) 23 Sep 2026 Dividend — Re 0.50 per share 23 Sep 2026
Apollo Micro Systems Limited (APOLLO) 23 Sep 2026 Dividend — Re 0.25 per share 23 Sep 2026
Agi Infra Limited (AGIIL) 23 Sep 2026 Dividend — Re 0.20 per share 23 Sep 2026
Vintage Coffee And Beverages Limited (VINCOFE) 23 Sep 2026 Dividend — Re 0.15 per share 23 Sep 2026
Confidence Petroleum India Limited (CONFIPET) 23 Sep 2026 Dividend — Re 0.10 per share 23 Sep 2026
Tyche Industries Ltd 23 Sep 2026 Final dividend — Rs 3.50 per share 23 Sep 2026
Talbros Engineering Ltd 23 Sep 2026 Final dividend — Rs 3 per share 23 Sep 2026
HLE Glascoat Ltd 23 Sep 2026 Final dividend — Rs 1.10 per share 23 Sep 2026

Board meetings & results calendar

Scheduled board meetings — the IR calendar for the days ahead

CompanyDatePurpose
Global Education Limited (GLOBAL) 24 Sep 2026Buyback of equity shares and other business matters
Minda Corporation Limited (MINDACORP) 24 Sep 2026Issue of non-convertible debentures
ESDS Software Solution Limited (ESDS) 24 Sep 2026Financial results for the period ended 30 June 2026
Purple Style Labs Limited (PERNIASPOP) 24 Sep 2026Unaudited standalone and consolidated financial results
Ashapura Intimates Fashion Limited (AIFL) 24 Sep 2026Fund raising and other business matters
Talwalkars Better Value Fitness Limited (TALWALKARS) 24 Sep 2026Fund raising and other business matters
Saraswati Saree Depot Limited (SSDL) 24 Sep 2026Dividend
GACM Technologies Limited (GATECH) 24 Sep 2026Other business matters
Natco Pharma Limited (NATCOPHARM) 25 Sep 2026Terms and conditions of rights issue
Aequs Limited (AEQUS) 25 Sep 2026Preferential issue of warrants convertible into equity shares
Force Motors Limited (FORCEMOT) 25 Sep 2026Removal of restrictions on transferability of shares
R Systems International Limited (RSYSTEMS) 25 Sep 2026Second interim dividend
Agi Infra Limited (AGIIL) 25 Sep 2026Fund raising
Varvee Global Limited (VGL) 25 Sep 2026Stock split
Power Grid Corporation of India Limited (POWERGRID) 26 Sep 2026Unsecured rupee term loan / line of credit

IPOs open now

Issues that were open for subscription during the 23 September session. Subscription multiples are HDFC Sky's time-stamped per-issue figures published on 23 September between 4:53 PM and 5:49 PM IST — final-day figures for Robokidz Eduventures (5:44 PM), FX Multitech (5:49 PM) and Vivekanand Cotspin (5:48 PM); day two for Varmora Granito, Anand Seamless and Himalaya Nutravedics India; day one for the rest. No grey market premium is shown (see note).

Final day to bid on 24 Sep: Varmora Granito, Anand Seamless and Himalaya Nutravedics India.

IssueGMPSub.Price (₹) Issue sizeLotOpen – close BoAListingAnchor
Varmora Granito
MainboardCloses 24 Sep
— 0.27x 140 – 148 ₹708.02 cr 101 22 Sep
to 24 Sep
25 Sep 29 Sep Yes
Anand Seamless
BSE SMECloses 24 Sep
— 0.74x 72 ₹25.52 cr 1,600 22 Sep
to 24 Sep
25 Sep 29 Sep —
Himalaya Nutravedics India
BSE SMECloses 24 Sep
— 0.40x 100 – 106 ₹26.50 cr 1,200 22 Sep
to 24 Sep
25 Sep 29 Sep Yes
Elevate Campuses
Mainboard
— 0.21x 343 – 362 ₹2,100 cr 41 23 Sep
to 25 Sep
28 Sep 30 Sep Yes
ArMee Infotech
Mainboard
— 0.57x 350 – 375 ₹300 cr 40 23 Sep
to 25 Sep
28 Sep 30 Sep Yes
Swastika Infra
Mainboard
— 1.00x 175 – 185 ₹160.88 cr 81 23 Sep
to 25 Sep
28 Sep 30 Sep Yes
Adroit Industries (India)
Mainboard
— 5.12x 126 – 134 ₹150.71 cr 111 23 Sep
to 25 Sep
28 Sep 30 Sep Yes
Pooja Logistics
NSE SME
— 0.34x 109 – 115 ₹44.23 cr 1,200 23 Sep
to 25 Sep
28 Sep 30 Sep Yes
Coreintegra Consulting Services
NSE SME
— 0.14x 74 – 78 ₹21.99 cr 1,600 23 Sep
to 25 Sep
28 Sep 30 Sep —
Liqvd Digital India
BSE SME
— 1.03x 51 – 54 ₹39.01 cr 2,000 23 Sep
to 25 Sep
28 Sep 30 Sep —
Unitec Fibres
BSE SME
— 0.13x 83 – 88 ₹34.47 cr 1,600 23 Sep
to 25 Sep
28 Sep 30 Sep Yes
S.K. Offset
BSE SME
— 0.12x 119 – 125 ₹29.06 cr 1,000 23 Sep
to 25 Sep
28 Sep 30 Sep Yes
Robokidz Eduventures
BSE SME
— 833.56x 100 – 106 ₹31.09 cr 1,200 21 Sep
to 23 Sep
24 Sep 28 Sep Yes
FX Multitech
BSE SME
— 17.72x 110 – 116 ₹45.24 cr 1,200 21 Sep
to 23 Sep
24 Sep 28 Sep Yes
Vivekanand Cotspin
BSE SME
— 1.79x 32 – 37 ₹22.20 cr 3,000 21 Sep
to 23 Sep
24 Sep 28 Sep Yes

Grey market premium is an unofficial, unregulated and unverifiable indication of sentiment traded outside the exchanges. It is not a price, not a forecast, and carries no regulatory standing — it is published here for context only. This edition was compiled after the event and no GMP snapshot time-stamped to the 23 September session could be recovered, so the GMP column is blank throughout rather than filled from a later reading. A blank cell elsewhere means the figure was not sourced for this edition, not that it is zero. Robokidz Eduventures, FX Multitech and Vivekanand Cotspin closed on the session. Three issues listed on 23 September (Business Today): SS Retail at ₹624 on the NSE against an issue price of ₹424 (+47.17%), Jindal Supreme (India) at ₹120 against ₹93 (+29.03%), and Hero Motors at ₹82 against ₹84 (−2.38%).

Economic calendar

Data releases and policy events in the days ahead

DateEvent
28 Sep 2026 Index of Industrial Production (IIP) — India
30 Sep 2026 Sector-wise bank credit — India
30 Sep 2026 Government capital expenditure — India

Commodities, currency & global

US index cards show the Wall Street session of the same calendar day, Wednesday 23 September 2026, which closed after Indian hours (AP wire); all three levels reconcile exactly against the previous session's closes carried in this series. The gold quote is an Indian national retail reference rate from a single source (StartupTalky) and varies by city and aggregator; silver and 22K quotes diverged too widely between sources for this session to publish. The rupee close and its change are PTI's final figures. Brent is not shown: only intraday snapshots taken at different times were available for the session, not a settlement.

10g Gold (24K)
₹1,52,090
-0.58%
USD-INR
95.73
Rupee down 11 paise
India VIX
10.35
-5.22%
Dow Jones
51,511.59
▼ 352.10 (−0.68%)
S&P 500
7,706.03
▼ 58.61 (−0.75%)
Nasdaq Composite
26,936.04
▼ 308.24 (−1.13%)

What we are watching next session

  • Whether foreign buying holds. Institutions turned net buyers of ₹1,617.45 crore on Wednesday after a ₹3,809.99 crore outflow on Tuesday — one session is not yet a change of direction.
  • Final day on 24 September for Varmora Granito (0.27x after day two), Anand Seamless and Himalaya Nutravedics India.
  • The four mainboard issues that opened on 23 September run to 25 September; Elevate Campuses' ₹2,100 crore book stood at 0.21x after day one against 5.12x for Adroit Industries (India).
  • Board calendar: Global Education's buyback proposal and Minda Corporation's debenture issue on 24 September, Natco Pharma's rights-issue terms on 25 September and Power Grid's borrowing proposal on 26 September.
  • India's Index of Industrial Production on 28 September, followed by sector-wise bank credit and government capital expenditure on 30 September.

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Disclaimer: This post is published by Samvaad Partners for information and market-awareness purposes only. It is a factual summary of publicly available exchange and market data and does not constitute investment advice, research analysis, or an offer or solicitation to buy or sell any security. Samvaad Partners is not a SEBI-registered research analyst or investment adviser. Figures are sourced from NSE, BSE and public news reports and may be provisional or subject to revision by the exchanges. Readers should verify data independently and consult a registered adviser before acting on any information. Samvaad Partners provides investor relations and communications services to listed companies, some of which may be referenced herein.

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