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Market Pulse — 24 September 2026

Indian equities fell sharply on Thursday, with the Nifty 50 losing 383.70 points to 23,063.10 and the Sensex 1,247.71 points to 73,580.54, as a draft IRDAI proposal on insurance distribution costs hit financial stocks alongside firmer crude and US bond yields. Every sectoral index closed lower, led by Financial Services (−2.39%) and Private Bank (−2.19%); the Midcap 100 fell 2.25% as PB Fintech lost about 36%, and only three Nifty constituents advanced. Foreign institutions sold a net ₹5,027.40 crore in the cash market, the largest single-session outflow of the month, while domestic institutions bought ₹4,301.20 crore. India VIX jumped 22.61% to 12.69, the rupee fell 23 paise to 95.96, and the National Stock Exchange's own shares debuted on BSE, closing 1.79% above the issue price.

Benchmarks

Closing levels, 24 Sep 2026 · Source: NSE / BSE

Sensex
73,580.54
-1,247.71  ·  -1.67%
Nifty 50
23,063.10
-383.70  ·  -1.64%
Nifty Bank
55,438.50
-1,110.40  ·  -1.96%
Nifty Next 50
71,381.45
-1,080.95  ·  -1.49%
Nifty Midcap 100
60,990.15
-1,406.30  ·  -2.25%
Nifty Smallcap 100
19,684.75
-306.75  ·  -1.53%
Nifty Microcap 250
26,396.35
-397.75  ·  -1.48%
India VIX
12.69
+2.34  ·  +22.61%

Sectoral scorecard

NSE sectoral indices, ranked best to worst

IndexCloseChange%
Nifty IT 28,208.85 -125.20 -0.44%
Nifty Pharma 27,028.70 -123.40 -0.45%
Nifty Healthcare 16,757.20 -110.95 -0.66%
Nifty Consumer Durables 37,916.80 -283.40 -0.74%
Nifty Media 1,554.25 -12.60 -0.80%
Nifty Cement 14,149.10 -116.60 -0.82%
Nifty Energy 37,360.95 -398.80 -1.06%
Nifty FMCG 45,759.35 -500.00 -1.08%
Nifty Realty 861.40 -9.60 -1.10%
Nifty PSU Bank 8,271.15 -94.30 -1.13%
Nifty Chemicals 29,078.45 -348.75 -1.19%
Nifty Oil & Gas 10,869.85 -135.35 -1.23%
Nifty Auto 26,730.10 -427.45 -1.57%
Nifty Metal 13,041.95 -260.40 -1.96%
Nifty Private Bank 26,763.95 -599.40 -2.19%
Nifty Financial Services 24,954.15 -610.70 -2.39%

Movers

Nifty 50 constituents · 24 Sep 2026

Top gainers

SymbolLTP%
CIPLA 1,399.00 +1.16%
ONGC 239.00 +0.89%
NTPC 326.60 +0.18%

Top losers

SymbolLTP%
HDFCLIFE 526.90 -6.16%
BAJFINANCE 982.00 -5.87%
AXISBANK 1,186.50 -4.56%
BAJAJFINSV 1,762.30 -4.56%
ADANIENT 2,900.00 -3.11%

Only three Nifty 50 constituents closed higher, so the gainers list has three names rather than five. 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 negative: 1,473 shares advanced, 2,884 declined and 216 were unchanged (PTI).

Midcap movers

Nifty Midcap 100 constituents · 24 Sep 2026

Top gainers

Stock%
ICICI Lombard General Insurance +5.09%
Oil India +1.91%
MCX +1.59%
Mankind Pharma +1.42%
Dixon Technologies +0.75%

Top losers

Stock%
PB Fintech -35.98%
Max Financial Services -9.78%
L&T Finance -9.03%
Info Edge (India) -5.63%
AU Small Finance Bank -5.03%

Percentages as published in Upstox's closing movers list, except PB Fintech: Upstox reported a fall of 36%, and the unrounded −35.98% shown is PTI's BSE figure — the stock's largest single-day fall, after IRDAI's draft distribution norms. Closing prices are not carried, so the price column is omitted.

Smallcap movers

Nifty Smallcap 100 constituents · 24 Sep 2026

Top gainers

Stock%
Signature Global +2.05%
Redington +1.81%
Dr. Lal PathLabs +1.70%
Kaynes Technology India +1.49%
Himadri Speciality Chemical +1.46%

Top losers

Stock%
IFCI -5.33%
Piramal Finance -5.05%
Five-Star Business Finance -4.49%
Bandhan Bank -4.43%
Pine Labs -4.41%

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
₹-5,027 cr
Bought ₹13,111.20 cr · Sold ₹18,138.60 cr
DII net
₹+4,301 cr
Bought ₹18,196.90 cr · Sold ₹13,895.70 cr

Cash-market figures for 24 Sep 2026 · provisional NSE cash-market data via the 5paisa mirror; Kotak Neo's unrounded figures agree (FII −₹5,027.36 cr, DII +₹4,301.18 cr). Provisional exchange data.

Corporate & macro desk

What moved the tape and what the IR desks were announcing

  • National Stock Exchange debuts on BSE — NSE's shares listed on BSE at ₹1,800 against an issue price of ₹1,785, a 0.84% premium, touched ₹1,878 and closed at ₹1,817 — 1.79% above the issue price. The ₹22,561.57 crore IPO had been subscribed 5.71 times (Business Standard, Upstox).
  • Sonaselection India lists at a premium — The Bhilwara-based fabric maker's shares listed at ₹102 on BSE against an issue price of ₹99, about a 3% premium, and went on to hit the upper circuit. The ₹141.57 crore mainboard issue had been subscribed about two times (Outlook Business, 5paisa).
  • IRDAI draft distribution norms hit insurers and intermediaries — The regulator's consultation paper, released on 23 September, proposes cutting life insurers' expense-of-management limit to 15% of gross direct premium within two years and 12.5% within five, and caps commissions by product. On 24 September PB Fintech fell 35.98% on BSE, Max Financial Services 9.81% and HDFC Life 6.13% (PTI, Business Standard).
  • Bajaj Finance board to consider fund raising on 1 October — The board will consider raising funds through a preferential issue and/or a qualified institutions placement, subject to regulatory and shareholder approvals (Business Standard).
  • Bond yields climb at home and abroad — India's 10-year government bond yield rose 6 basis points to 7.09% on the session, while the US 10-year Treasury yield stood at 5.15% during Indian hours, its highest since July 2007 (Business Standard).

Corporate actions on the session

Dividends that went ex on 24 September 2026 · Source: NSE — a thin ex-date day, with only two equity actions listed

CompanyEx-datePurposeRecord date
Engineers India Limited (ENGINERSIN) 24 Sep 2026 Dividend — Rs 2.50 per share 24 Sep 2026
Arfin India Limited (ARFIN) 24 Sep 2026 Interim dividend — Re 0.12 per share 24 Sep 2026

Board meetings & results calendar

Scheduled board meetings — the IR calendar for the days ahead

CompanyDatePurpose
Natco Pharma (NATCOPHARM) 25 Sep 2026Rights issue — terms including price and record date
Force Motors (FORCEMOT) 25 Sep 2026Removal of restrictions on transferability of equity shares
R Systems International (RSYSTEMS) 25 Sep 2026Second interim dividend, if any
Aequs (AEQUS) 25 Sep 2026Preferential issue of warrants convertible into equity shares
Agi Infra (AGIIL) 25 Sep 2026Fund raising
Varvee Global (VGL) 25 Sep 2026Stock split
Power Grid Corporation of India (POWERGRID) 26 Sep 2026Fund raising through unsecured rupee term loan
Aegis Logistics (AEGISLOG) 28 Sep 2026Fund raising and other business
Ola Electric Mobility (OLAELEC) 28 Sep 2026Fund raising
Punjab & Sind Bank (PSB) 29 Sep 2026Fund raising
Transport Corporation of India (TCI) 29 Sep 2026Buyback of equity shares
Time Technoplast (TIMETECHNO) 29 Sep 2026Scheme of merger with TPL Plastech
GP Petroleums (GULFPETRO) 30 Sep 2026Issue of debt securities
Bajaj Finance (BAJFINANCE) 01 Oct 2026Fund raising — preferential issue / qualified institutions placement
LCC Projects (LCCPROJECT) 05 Oct 2026Unaudited standalone and consolidated results
Tata Consultancy Services (TCS) 08 Oct 2026Quarterly results and second interim dividend
GM Breweries (GMBREW) 08 Oct 2026Results for the period ended 30 September 2026
Canara Robeco Asset Management (CRAMC) 09 Oct 2026Quarterly and half-yearly results

IPOs open now

Issues that were open for subscription during the 24 September session. Subscription multiples are the day-end figures published by HDFC Sky on 24 September, each with its own time stamp between 4:54 PM and 5:51 PM — final-day figures for Varmora Granito (5:03 PM), Anand Seamless (5:29 PM) and Himalaya Nutravedics India (5:34 PM), day two for the issues closing 25 September, and day one for the five issues that opened on the session. No grey market premium snapshot dated to the session could be recovered for this edition, so the GMP column is blank.

Final day to bid on 25 Sep: Elevate Campuses, ArMee Infotech, Swastika Infra, Adroit Industries (India), Pooja Logistics, Coreintegra Consulting Services, Liqvd Digital India, S.K. Offset and Unitec Fibres.

IssueGMPSub.Price (₹) Issue sizeLotOpen – close BoAListingAnchor
Varmora Granito
Mainboard
— 1.60x 140 – 148 ₹708.02 cr 101 22 Sep
to 24 Sep
25 Sep 29 Sep —
Anand Seamless
BSE SME
— 1.47x 72 ₹25.52 cr 1,600 22 Sep
to 24 Sep
25 Sep 29 Sep —
Himalaya Nutravedics India
BSE SME
— 2.33x 100 – 106 ₹26.50 cr 1,200 22 Sep
to 24 Sep
25 Sep 29 Sep —
Elevate Campuses
MainboardCloses 25 Sep
— 0.24x 343 – 362 ₹2,100 cr 41 23 Sep
to 25 Sep
28 Sep 30 Sep —
ArMee Infotech
MainboardCloses 25 Sep
— 1.26x 350 – 375 ₹300 cr 40 23 Sep
to 25 Sep
28 Sep 30 Sep —
Swastika Infra
MainboardCloses 25 Sep
— 1.70x 175 – 185 ₹160.88 cr 81 23 Sep
to 25 Sep
28 Sep 30 Sep —
Adroit Industries (India)
MainboardCloses 25 Sep
— 18.08x 126 – 134 ₹150.71 cr 111 23 Sep
to 25 Sep
28 Sep 30 Sep —
Pooja Logistics
NSE SMECloses 25 Sep
— 0.39x 109 – 115 ₹44.23 cr 1,200 23 Sep
to 25 Sep
28 Sep 30 Sep —
Coreintegra Consulting Services
NSE SMECloses 25 Sep
— 0.46x 74 – 78 ₹21.99 cr 1,600 23 Sep
to 25 Sep
28 Sep 30 Sep —
Liqvd Digital India
BSE SMECloses 25 Sep
— 1.23x 51 – 54 72,24,000 sh 2,000 23 Sep
to 25 Sep
28 Sep 30 Sep —
S.K. Offset
BSE SMECloses 25 Sep
— 0.34x 119 – 125 ₹29.06 cr 1,000 23 Sep
to 25 Sep
28 Sep 30 Sep —
Unitec Fibres
BSE SMECloses 25 Sep
— — 83 – 88 3,200 23 Sep
to 25 Sep
28 Sep 30 Sep —
Moneyview
Mainboard
— 1.49x 32 – 34 ₹1,091.68 cr 441 24 Sep
to 28 Sep
29 Sep 01 Oct —
A-One Steels India
Mainboard
— 0.61x 385 – 405 ₹405 cr 37 24 Sep
to 28 Sep
29 Sep 01 Oct —
Peshwa Wheat
BSE SME
— 1.82x 95 – 101 ₹53.52 cr 1,200 24 Sep
to 28 Sep
29 Sep 01 Oct —
Roopa Screen
BSE SME
— 1.36x 60 – 64 ₹19.20 cr 2,000 24 Sep
to 28 Sep
29 Sep 01 Oct —
Green Asia Impex
NSE SME
— 0.01x 85 – 90 ₹60.10 cr 1,600 24 Sep
to 28 Sep
29 Sep 01 Oct —

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. GMP figures are taken in full from a single time-stamped tracker and are not blended across sources; for this edition no tracker snapshot dated to the 24 September session could be recovered, so no GMP is shown. A blank cell means the figure was not sourced, not that it is zero — Unitec Fibres' day-two multiple is blank because no time-stamped figure was found, and its issue size is not shown. Allotment and listing dates are the tentative dates in the published issue timetables. Two issues listed on the session: the National Stock Exchange of India (issue price ₹1,785, listed on BSE at ₹1,800, closed at ₹1,817) and Sonaselection India (issue price ₹99, listed at ₹102 on BSE).

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
07 Oct 2026 RBI Monetary Policy Committee decision (meeting 5–7 October)

Commodities, currency & global

US index cards show the Wall Street session of the same calendar day, Thursday 24 September 2026, which closed after Indian hours (AP wire); all three levels reconcile against AP's 23 September closes (the Nasdaq to within AP's 0.01 rounding). Gold and silver are Indian retail reference rates and vary materially by city and by aggregator — the 24K and silver quotes are national reference rates and the 22K quote is for Delhi, all from a single source (StartupTalky, 5:20 PM IST) rather than blended. Brent is the 24 September settlement of the most actively traded contract as reported by AP; Indian wire copy during market hours quoted the front-month contract above $105, so the two are different contracts rather than a discrepancy. The rupee close is PTI's provisional figure.

10g Gold (24K)
₹1,51,270
-0.54%
10g Gold (22K)
₹1,40,240
Delhi retail reference
1kg Silver
₹2,33,050
-1.28%
USD-INR
95.96
Rupee down 23 paise
Brent Crude
$100.22
Settled 24 Sep, +2.1%
India VIX
12.69
+22.61%
Dow Jones
51,349.98
▼ 161.61 (−0.31%)
S&P 500
7,704.13
▼ 1.90 (−0.02%)
Nasdaq Composite
26,939.37
▲ 3.34 (+0.01%)

What we are watching next session

  • Whether the foreign selling extends. A net ₹5,027.40 crore cash-market outflow is larger than the ₹3,810.00 crore of 22 September that had been the month's heaviest, and domestic institutions again absorbed most of it.
  • IRDAI's draft distribution and expense-of-management norms are out for consultation. Listed insurers, insurance distributors and bancassurance-heavy lenders should expect analyst questions on commission economics and should be precise in any disclosure about the proposals' impact.
  • Nine issues close on 25 September — Adroit Industries (India), ArMee Infotech, Elevate Campuses and Swastika Infra on the mainboard, and Coreintegra Consulting Services, Liqvd Digital India, Pooja Logistics, S.K. Offset and Unitec Fibres on the SME platforms. Varmora Granito, Anand Seamless and Himalaya Nutravedics India allot on 25 September and are scheduled to list on 29 September.
  • Bajaj Finance's board meets on 1 October to consider raising funds through a preferential issue or QIP, after the stock fell 5.87% on the session.
  • India's Index of Industrial Production on 28 September, sector-wise bank credit and government capital expenditure on 30 September, and the RBI Monetary Policy Committee's decision on 7 October.

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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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