Barring metal index all the sectoral indices on the NSE were ended in red with IT, realty and media shares leading the fall.

As per provisional closing data, the barometer index, the S&P BSE Sensex tanked 813.35 points or 1.08% to 74,764.23. The Nifty 50 index tumbled 203.60 points or 0.86% to 23,431.50. Over the past three consecutive trading sessions, the Sensex and Nifty have declined 2.29% and 1.95%, respectively.

In the broader market, the BSE 150 MidCap Index fell 0.33% and the BSE 250 SmallCap Index declined 0.50%.

The market breadth was negative. On the BSE, 1,886 shares rose and 2,485 shares fell. A total of 238 shares were unchanged.

In the commodities market, Brent crude for November 2026 settlement rose $2.58 or 2.63% to $100.50 a barrel. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.1175 compared with its close of 94.7450 during the previous trading session.

Global Fintech Fest (GFF 2026):

Global Fintech Fest (GFF) 2026, the world's largest fintech conference, commenced on 8th and will continue until 11th September 2026 at the Jio World Centre, and Trident, Mumbai. The theme of GFF 2026 is “Potential to Impact: Agentic AI : Tokenisation : Quantum: Trusted, Connected, Global Systems for Inclusive Finance.”

Commerce Secretary Rajesh Agrawal said India could significantly expand its financial services exports if it captures a larger share of the growing global fintech trade. 'Fintech services is where trade is growing and if we can contribute even 10 percent we are talking of a journey from $8 billion to maybe $60-80 billion,' Rajesh Agrawal said.

Maharashtra CM Devendra Fadnavis unveiled the Delta Act at Global Fintech Fest 2026 in Mumbai, India's first legal framework for blockchain-based land tokenisation worth Rs 50 lakh crore.

IPO Update:

Pranav Constructions received bids for 2,59,41,51,240 shares as against 2,24,63,137 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 115.48 times.

The issue opened for bidding on 7 September 2026 and will close on 9 September 2026. The price band of the IPO is fixed between Rs 118 and 124 per share. An investor can bid for a minimum of 120 equity shares and multiples thereof.

Prasol Chemicals received bids for 36,09,496 shares as against 54,43,229 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 0.66 times.

The issue opened for bidding on 8 September 2026 and will close on 10 September 2026. The price band of the IPO is fixed between Rs 643 and 676 per share. An investor can bid for a minimum of 22 equity shares and multiples thereof.

Glass Wall Systems (India) received bids for 11,43,74,748 shares as against 1,64,57,298 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 6.95 times.

The issue opened for bidding on 8 September 2026 and will close on 10 September 2026. The price band of the IPO is fixed between Rs 172 and 182 per share. An investor can bid for a minimum of 82 equity shares and multiples thereof.

Kanohar Electricals received bids for 9,12,90,519 shares as against 1,16,93,326 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 7.81 times.

The issue opened for bidding on 8 September 2026 and will close on 10 September 2026. The price band of the IPO is fixed between Rs 601 and 632 per share. An investor can bid for a minimum of 23 equity shares and multiples thereof.

LCC Projects received bids for 2,41,32,486 shares as against 2,09,27,281 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 1.15 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 139 and 146 per share. An investor can bid for a minimum of 102 equity shares and multiples thereof.

Karamtara Engineering received bids for 2,79,92,137 shares as against 2,54,14,937 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 1.10 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 241 and 254 per share. An investor can bid for a minimum of 59 equity shares and multiples thereof.

Asset Reconstruction Company (India) received bids for 1,12,99,842 shares as against 3,69,12,363 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 0.31 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 132 and 139 per share. An investor can bid for a minimum of 107 equity shares and multiples thereof.

Steamhouse India received bids for 1,20,69,585 shares as against 3,76,36,363 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 0.32 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 77 and 81 per share. An investor can bid for a minimum of 185 equity shares and multiples thereof.

Manipal Payment and Identity Solutions received bids for 17,74,872 shares as against 1,30,60,472 shares on offer, according to stock exchange data at 11:15 IST on 9 September 2026. The issue was subscribed 0.14 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 322 and 339 per share. An investor can bid for a minimum of 44 equity shares and multiples thereof.

Rentomojo received bids for 2,40,70,461 shares as against 2,17,72,311 shares on offer, according to stock exchange data at 15:30 IST on 9 September 2026. The issue was subscribed 1.11 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 384 and 404 per share. An investor can bid for a minimum of 37 equity shares and multiples thereof.

Buzzing Index:

The Nifty IT index declined 3.24% to 28,913.95. The index tumbled 8.20% in the six straight trading sessions.

Coforge (down 5.24%), Infosys (down 4.55%), HCL Technologies (down 3.99%), Tech Mahindra (down 3.59%) and Persistent Systems (down 3.06%) were the top losers. Among the other losers were Wipro (down 2.51%), Mphasis (down 2.17%), Tata Consultancy Services (down 1.97%), Oracle Financial Services Software (down 1.91%) and LTM (down 0.36%).

Stocks in Spotlight:

Adani Enterprises jumped 6.09% to Rs 3,132.90 after the company’s subsidiary, Adani Airport Holdings(AAHL) has entered into binding agreements to raise Rs 9,825 crore (around $ 1 billion) of primary equity capital from a consortium of investors. The investor consortium comprises Alpha Wave Global, Premji Invest, Temasek and BlackRock.

The proceeds will support airport modernisation and capacity expansion to serve approximately 200 million passengers annually, integrated Adani Airport City development of around 22 million sq. ft. of mixed-use development in the first phase and the continued scaling of AAHL’s ground handling and non-aeronautical businesses.

Coforge tumbled 5.24% after the company announced that its non-executive independent director and chairman, O. P. Bhatt, resigned from the Board with immediate effect on 9 September 2026. Following his resgination, the Board also decided to designate Vivek Sharma, non-executive independent director, as interim chairperson of the company till January 31, 2027.

The resignation followed an internal audit review conducted as part of the Q2 FY26 internal audit plan, which examined the process followed for the Board Evaluation Exercise conducted in March/April 2026 and the resulting Board Evaluation Report (BER) presented to the Board under the chairman's guidance. Separately, the company announced that its Board will meet on 23 October 2026 to consider and approve the unaudited consolidated and standalone financial results for the quarter and half year ended 30 September 2026.

Larsen & Toubro rose 0.25%. The company said that L&T Energy Hydrocarbon Offshore has secured a 'large' offshore order from the Oil & Natural Gas Corporation (ONGC) for the additional development of Ratna–I (ADR I) and NLM-14 project off India's west coast. As per the company's internal classification, the value of this 'large' contract lies between Rs 2,500 crore and Rs 5,000 crore.

Power Mech Projects added 1.58%. The company said that it has secured an operations and maintenance contract worth Rs 970 crore from Vedanta Power for its Chhattisgarh-based Sakti Thermal Plant.

Enviro Infra Engineers jumped 5.68% to Rs 207.30 after the company’s step-down subsidiary, Suyog Urja received an Rs 189.99 crore contract from Tata Power Renewable Energy for executing a 180 MW NTPC wind power project at Parli, Maharashtra.

Global Markets:

European market declined while Asian market ended mixed on Wednesday as Brent Crude crossed $100-a-barrel milestone, compounding fears of a prolonged stagflation shock.

The widening Middle Eastern conflict threatened to force the European Central Bank into further monetary tightening. Money markets have almost fully priced in a 25-basis-point interest rate increase from President Christine Lagarde and the Governing Council on Thursday, taking the deposit facility rate to 2.50%:

Oil prices remained a major market concern. Brent crude edged higher after attacks on Saudi energy infrastructure by Iran-backed Houthi militants and further US-Iran military escalation. The surge has renewed concerns that higher energy costs could keep inflation elevated and limit central banks' room to cut interest rates.

The geopolitical situation also intensified after the US said its forces destroyed five Iranian oil tankers following an attempted attack on a US Navy vessel. The US Treasury also announced fresh sanctions targeting Iran's aviation sector, adding another layer of pressure on Tehran.

Wall Street ended lower on Tuesday as the rise in crude prices revived inflation concerns. The Dow Jones Industrial Average fell 1.18% to 52,786.07, the S&P 500 declined 0.58% to 7,673.52 and the Nasdaq Composite dropped 0.32% to 26,421.41. The US 10-year Treasury yield also moved near 4.8%.

Markets are now focused on US inflation data due later this week. The August CPI, scheduled for Friday, is expected to provide fresh clues on the Federal Reserve's policy path ahead of its 16-17 September meeting.

Rising oil prices have increased concerns that a renewed inflationary push could complicate the Fed's decision on interest rates. Markets were pricing roughly a 60% probability of a rate hike next week.