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EQUITY
Post Session: Quick Review
Sep-23-2026

Indian equity markets ended higher on Wednesday, supported by a decline in crude oil prices and gains across Asian markets amid signs of de-escalation in U.S.-Iran tensions. Sentiment improved after U.S. President Donald Trump said that U.S. officials had a ‘very good’ meeting with an Iranian delegation in New York. Sentiments remained upbeat as S&P Global Ratings raised its forecast for India’s GDP growth for the current fiscal year ending March 31, 2027, to 7.0%, from 6.6% previously.

Both indices, the Sensex and Nifty, closed with gains of around half a percent, supported by broad-based gains by metals, financials and select large-cap stocks. However, weakness in major IT stocks capped some of the market’s gains.

Some of the important factors in trade:

Fitch Ratings raises India's GDP growth forecast to 6.9% for FY27: Some support also came as Fitch Ratings raised India's GDP growth forecast for the current fiscal year to 6.9 per cent, from 6.4 per cent, citing strong economic growth in the June quarter and overall economic resilience. 

States’ revenue to grow by 9-11% to Rs 44 lakh crore in FY27: Sentiments remained upbeat, as the rating agency Crisil Ratings, in its latest report, has forecasted 9-11% growth in revenue of 18 large states, which account for more than 90% of India’s gross state domestic product (GSDP), this fiscal (FY27).

India's private sector activity gains momentum in September: Traders took support with the HSBC Flash India Purchasing Managers’ Index (PMI) data showing India’s private sector activity strengthened in September, led by a sharper improvement in manufacturing. The HSBC Flash India Composite Output Index rose to 56.5 in September from a final reading of 54.3 in August, signalling the strongest expansion in private sector activity since June. 

On the global front: European stocks were trading mostly in red as investors keep a close eye on developments between the U.S. and Iran. Asian markets closed mostly lower, following the mixed cues from Wall Street overnight.

The BSE Sensex ended at 74828.25, up by 299.17 points or 0.40% after trading in a range of 74599.88 and 74973.74. There were 21 stocks advancing against 9 stocks declining on the index. (Provisional)

The gaining sectoral indices on the BSE were Metal up by 2.37%, Basic Materials up by 1.64%, FMCG up by 1.30%, Realty up by 1.11% and Telecom up by 0.93%, while IT down by 0.77%, TECK down by 0.31% were the only losing indices on BSE. (Provisional)

The top gainers on the Sensex were Tata Steel up by 3.28%, Bajaj Finance up by 3.07%, ITC up by 1.77%, Ultratech Cement up by 1.73% and Power Grid Corporation up by 1.65%. On the flip side, HCL Technologies down by 1.10%, Infosys down by 1.03%, TCS down by 0.95%, Titan Company down by 0.60% and Mahindra & Mahindra down by 0.49% were the top losers. (Provisional)

Meanwhile, the S&P Global Ratings, in its Asia-Pacific Economic Outlook, has raised its forecast for India’s gross domestic product (GDP) growth for the current fiscal year ending March 31, 2027 (FY27), to 7.0%, from 6.6% previously. It said several factors drove growth above its expectations in the June quarter, including robust industrial activity, healthy consumption, strong goods exports, and an acceleration in government investment.

The ratings agency expects growth to moderate in the second half of the fiscal year as the tailwinds from Goods and Services Tax (GST) rationalisation and income-tax cuts fade. It said weather-related risks also warrant close monitoring. Cumulative rainfall was 15% below normal as of September 9, 2026, during the current monsoon season. Therefore, it said agricultural output and food inflation remain key variables to watch.

On inflation, the ratings agency expects consumer inflation to average 5.1% during the fiscal year and the Reserve Bank of India (RBI) to raise its policy rate by 25 basis points (bps). It expects the balance of considerations to shift towards higher interest rates, citing solid economic growth, persistent inflationary pressures, the unresolved conflict in West Asia, and weather-related risks as factors supporting such a shift.

The CNX Nifty ended at 23446.80, up by 117.80 points or 0.50% after trading in a range of 23349.55 and 23466.90. There were 36 stocks advancing against 14 stocks declining on the index. (Provisional)

The top gainers on Nifty were Bajaj Finance up by 3.41%, Hindalco Industries up by 3.17%, Tata Steel up by 3.16%, Apollo Hospital up by 2.64% and JSW Steel up by 2.43%. On the flip side, HCL Technologies down by 1.08%, Titan Company down by 0.98%, Infosys down by 0.86%, Coal India down by 0.81% and TCS down by 0.73% were the top losers. (Provisional)

European markets were trading mostly in red; Germany’s DAX lost 84.15 points or 0.33% to 25,494.70 and France’s CAC fell 10.81 points or 0.13% to 8,144.10, while UK’s FTSE 100 increased 12.58 points or 0.12% to 10,720.91.

Asian markets settled mostly lower on Wednesday following hawkish comments from several Federal Reserve officials, including St. Louis Fed President Alberto Musalem, Richmond Fed President Tom Barkin and Boston Fed President Susan Collins. The officials stressed that additional interest rate hikes may be needed to control inflation, hinting at further tightening. Investors also remained cautious ahead of a high-stakes US-China summit on Thursday. However, South Korea’s Kospi rose by tracking a record-high Nasdaq index rally, while advances in AI-related stocks boosted Korean chipmakers. Meanwhile, Japanese markets were remained closed for Autumn Equinox holiday.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,936.52

-15.61

-0.39

Hang Seng

24,834.12

-253.63

-1.01

Jakarta Composite

6,374.91

97.87

1.54

KLSE Composite

1,676.43

-7.07

-0.42

Nikkei 225

--

--

--

Straits Times

5,709.91

-13.85

-0.24

KOSPI Composite

7,080.92

63.01

0.90

Taiwan Weighted

48,157.29

357.12

0.75
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