As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 61.52 points or 0.08% to 80,364.94. The Nifty 50 index lost 19.80 points or 0.08% to 24,634.90. In seven consecutive trading sessions, the Sensex plummeted 3.19% and the Nifty tumbled 3.10%.
In the broader market, the S&P BSE Mid-Cap index added 0.34% and the S&P BSE Small-Cap index shed 0.17%.
The market breadth was negative. On the BSE, 1,926 shares rose and 2,268 shares fell. A total of 183 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.68% to 11.23.
The Reserve Bank of India kicked off its three-day monetary policy meeting today, which is set to wrap up on 1 October 2025.
Economy:
India's forex reserves dropped by $396 million to $702.57 billion for the week ended September 19, according to the RBI data.
In the previous reporting week, the overall reserves had jumped by $4.698 billion to $702.966 billion.
For the week ended September 19, foreign currency assets, a major component of the reserves, decreased by $864 million to $586.15 billion.
The gold reserves increased by $360 million to $92.779 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by $105 million to $18.879 billion, the apex bank said.
India's reserve position with the IMF was also up by $2 million at $4.762 billion in the reporting week, the data showed.
New Listing:
Shares of Ganesh Consumer Products were at Rs 292 on the BSE, representing a discount of 9.32% compared with the issue price of Rs 322.
The scrip was listed at Rs 295, at an 8.39% discount to the issue price.
The stock has hit a high of Rs 305.85 and a low of Rs 294.80. On the BSE, over 1.46 lakh shares of the company were traded in the counter.
Shares of Atlanta Electricals were at Rs 829.70 on the BSE, representing a premium of 10.04% compared with the issue price of Rs 754.
The scrip was listed at Rs 858.10, exhibiting a premium of 13.81% to the issue price.
The stock has hit a high of Rs 863.70 and a low of Rs 806. On the BSE, over 5.16 lakh shares of the company were traded in the counter.
IPO Update:
Pace Digitek received bids for 1,20,06,624 shares as against 2,76,06,555 shares on offer, according to stock exchange data at 15:20 IST on Monday (29 September 2025). The issue was subscribed 0.43 times.
The issue opened for bidding on Thursday (25 September 2025) and it will close on Tuesday (30 September 2025). The price band of the IPO is fixed between Rs 115 and Rs 121 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.
Jinkushal Industries received bids for 32,93,44,800 shares as against 67,21,048 shares on offer, according to stock exchange data at 15:21 IST on Monday (29 September 2025). The issue was subscribed 49 times.
The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 115 and Rs 121 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.
TruAlt Bioenergy received bids for 44,52,90,360 shares as against 1,23,55,424 shares on offer, according to stock exchange data at 15:23 IST on Monday (29 September 2025). The issue was subscribed 36.04 times.
The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 472 and Rs 496 per share. An investor can bid for a minimum of 30 equity shares and in multiples thereof.
Glottis received bids for 62,02,512 shares as against 2,01,23,929 shares on offer, according to stock exchange data at 15:26 IST on Monday (29 September 2025). The issue was subscribed 0.31 times.
The issue opened for bidding on Monday (29 September 2025) and it will close on Wednesday (1 October 2025). The price band of the IPO is fixed between Rs 120 and Rs 129 per share. An investor can bid for a minimum of 114 equity shares and in multiples thereof.
Om Freight Forwarders received bids for 71,46,846 shares as against 79,16,945 shares on offer, according to stock exchange data at 15:26 IST on Monday (29 September 2025). The issue was subscribed 0.90 times.
The issue opened for bidding on Monday (29 September 2025) and it will close on Friday (3 October 2025). The price band of the IPO is fixed between Rs 128 and Rs 135 per share. An investor can bid for a minimum of 111 equity shares and in multiples thereof.
Fabtech Technologies received bids for 76,35,150 shares as against 1,20,60,000 shares on offer, according to stock exchange data at 15:28 IST on Monday (29 September 2025). The issue was subscribed 0.63 times.
The issue opened for bidding on Monday (29 September 2025) and it will close on Wednesday (1 October 2025). The price band of the IPO is fixed between Rs 181 and Rs 191 per share. An investor can bid for a minimum of 75 equity shares and in multiples thereof.
Buzzing Index:
The Nifty PSU Bank index jumped 1.78% to 7,390.75. The index dropped 1.14% in the three consecutive trading sessions.
Indian Bank (up 2.42%), Bank of Baroda (up 2.19%), Bank of India (up 2.05%), Canara Bank (up 1.97%), State Bank of India (up 1.56%), Punjab National Bank (up 1.51%), Bank of Maharashtra (up 1.5%), UCO Bank (up 1.32%), Union Bank of India (up 1.17%) and Punjab & Sind Bank (up 1.08%) gained.
Stocks in Spotlight:
Vascon Engineers hit an upper circuit of 20% after the company signed a memorandum of understanding (MoU) with Adani Infra (India) to act as their execution partner under an early engagement model for five years. Under the arrangement, Vascon will work with Adani on select projects from the design stage, to ensure seamless integration of design and execution.
Wheels India rose 4.22% after the company said it entered into a technical agreement with SHPAC, a South Korean hydraulic cylinder manufacturer, for technology transfer in manufacturing.
Azad Engineering added 2.15% after the company announced that it has entered into a new long-term contract and price agreement with Mitsubishi Heavy Industries (MHI), Japan, valued at $73.47 million (Rs 651 crore).
Brahmaputra Infrastructure rose 1.15% after it secured an order worth Rs 169.45 crore from the National Highway Authority of India. The project involves four-laning of the Jorabat'Shillong (Barapani) section of NH-40 (New NH-6) in Assam and Meghalaya on an item rate (percentage) basis, to be executed within 12 months.
Softtech Engineers shed 1.55%. The company said that it has secured an order worth Rs 17.16 crore from Airports Authority of India (AAI) for its BIM-based Project Monitoring System (BPMS) software application.
Aurionpro Solutions rose 0.69%. The company secured a contract to implement its cash management platform for a leading public sector bank. The multi-year agreement includes software licensing, implementation, and an annual maintenance contract. The company said the deal is valued in the multi-million-dollar range.
SEPC fell 1%. The company received a contract from Avenir International Engineers & Consultants LLC for the execution of engineering services related to various ADNOC (Abu Dhabi National Oil Company) projects.
Zaggle Prepaid Ocean Services rose 0.50%. The company has entered into a referral partnership agreement with IDFC First Bank to offer forex solutions to its corporate customers.
RailTel Corporation of India fell 1.68%. The company announced that it has received a Letter of Acceptance (LoA) worth Rs 50.62 crore from the State Project Director (SPD), Bihar Education Project Council (BEPC).
Global Markets:
European shares traded higher on Monday as investors monitored the impact of a potential U.S. government shutdown later in the week.
Spain's inflation rate accelerated in September to 3%, up from 2.7% in August.
Asian market ended mixed as investors looked past the latest tariff developments.
Investors braced for a possible shutdown of the U.S. government, which would in turn delay publication of the September payrolls report and a raft of other key data.
President Donald Trump will meet with the top Democratic and Republican leaders in Congress later on Monday to discuss extending government funding. Without a deal, a shutdown would begin on Wednesday, which is also when new U.S. tariffs on heavy trucks, pharmaceuticals, and other items go into effect.
On the data front, China's industrial profits returned to growth in August even as businesses braced for a broader economic slowdown amid persistent demand woes.
Industrial profits rose 20.4% in August from a year earlier, reversing a 1.5% year-on-year decline in July, while profits grew 0.9% in the first eight months compared to a 1.7% decline in the January-July period, National Bureau of Statistics (NBS) data showed on Saturday.
Meanwhile, the Reserve Bank of Australia was set to kickstart its two-day policy meeting, where it is reportedly expected to hold its cash rate steady at 3.6%.
On Friday, all three major averages on Wall Street edged higher following the release of crucial U.S. inflation data.
The Dow Jones Industrial Average advanced 299.97 points, or 0.65%, to close at 46,247.29. The S&P 500 added 0.59% to close at 6,643.70, while the Nasdaq Composite rose 0.44% to settle at 22,484.07.
Friday's rally snapped a three-day losing streak for the major indexes but still ended the week down. The Nasdaq Composite and S&P 500 slid 0.7% and 0.3%, marking each index's first losing week in four. The Dow shed 0.2%.
U.S. core inflation held steady in August, keeping the Federal Reserve on track for expected rate cuts. The personal consumption expenditures (PCE) price index rose 0.3% in the month, lifting the annual headline inflation rate to 2.7% from 2.6% in July. Core PCE, which excludes food and energy, increased 0.2% on the month and remained unchanged at 2.9% year-on-year.
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