The headline equity indices ended marginally lower on Monday, extending their losing streak to a seventh straight session. Investors stayed cautious ahead of the Reserve Bank of India's Monetary Policy Committee (MPC) decision. The Nifty closed below the 24,650 level, weighed down by weakness in private banks and consumer durables, while PSU banks and energy stocks outperformed.

The S&P BSE Sensex slipped 61.52 points, or 0.08%, to 80,364.94. The Nifty 50 declined 19.80 points, or 0.08%, to 24,634.90. Over the seven sessions, the Sensex has dropped 3.19% and the Nifty has lost 3.10%.

Axis Bank fell 1.91%, Larsen & Toubro shed 1.17%, and ICICI Bank declined 1.01%, emerging as major drags on the Nifty today.

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%.

Market breadth was weak. On the BSE, 1,911 shares advanced, 2,281 declined, and 195 remained unchanged.

The NSE's India VIX, which measures near-term market volatility, eased 0.52% to 11.37.

The Reserve Bank of India began its three-day monetary policy meeting today, with the outcome due on October 1.

Economy:

India's industrial output grew by 4% in August as against the growth of 4.3% in July, according to the Index of Industrial Production (IIP) data released by the Ministry of Statistics and Programme Implementation on Monday. Manufacturing activity grew by 3.8% on an annual basis in August, compared to 6% last month. Mining output, another key component of the IIP, rose 6% year-on-year in August versus a fall of 7.2% last month. Electricity production increased 4.1% as against 3.7% in the previous month.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.74% to 6.565 from the previous close of 6.517.

MCX Gold futures for 3 October 2025 settlement gained 1.14% to Rs 115,089.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.16% to 97.66.

The United States 10-year bond yield declined 1% to 4.145.

In the commodities market, Brent crude for November 2025 settlement dropped $1.07 or 1.55% to $68.15 a barrel.

Global Markets:

The U.S. Dow Jones index futures were up 209 points on Monday, indicating a positive opening for Wall Street.

European market 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.

Most Asian indices ended higher 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 0.65%, the S&P 500 added 0.59%, while the Nasdaq Composite rose 0.44%.

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.

New Listing:

Shares of Ganesh Consumer Products were at Rs 293.95 on the BSE, representing a discount of 8.71% 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 308.90 and a low of Rs 291.50. On the BSE, 3.45 lakh shares of the company were traded in the counter.

Shares of Atlanta Electricals were at Rs 823.35 on the BSE, representing a premium of 9.20% 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, 9.47 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Vascon Engineers surged 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 4.14% after the company said it entered into a technical agreement with SHPAC, a South Korean hydraulic cylinder manufacturer, for technology transfer in manufacturing.

E2E Networks declined 4.53% after the board approved plans to raise up to Rs 1,000 crore. The funds may be raised through public offerings, rights issues, private placements, or qualified institutional placements. The move is subject to shareholder and regulatory approvals.

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.

Aurionpro Solutions rose 1.16%. 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.

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.

IPO Update:

Pace Digitek received bids for 1,48,70,376 shares as against 2,76,06,555 shares on offer, according to stock exchange data at 16:45 IST on Monday (29 September 2025). The issue was subscribed 0.54 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 43,62,51,720 shares as against 67,21,048 shares on offer, according to stock exchange data at 16:45 IST on Monday (29 September 2025). The issue was subscribed 64.91 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 88,76,26,470 shares as against 1,23,55,424 shares on offer, according to stock exchange data at 16:45 IST on Monday (29 September 2025). The issue was subscribed 71.84 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 84,03,282 shares as against 2,01,23,929 shares on offer, according to stock exchange data at 16:45 IST on Monday (29 September 2025). The issue was subscribed 0.42 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 1,06,98,624 shares as against 79,16,945 shares on offer, according to stock exchange data at 16:45 IST on Monday (29 September 2025). The issue was subscribed 1.35 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 82,78,950 shares as against 1,20,60,000 shares on offer, according to stock exchange data at 16:45 IST on Monday (29 September 2025). The issue was subscribed 0.69 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.

Powered by Capital Market - Live News