Sensex Plunges 1,734 Points to 74,781 as Brent Tops $109, Nifty Falls 2.09% in Fifth Straight Weekly Loss 

Mumbai, Sept 12: Indian equity markets extended their losing streak to a fifth consecutive week, with the benchmark Sensex and Nifty 50 indices recording their longest weekly decline since July 2025. The BSE Sensex fell 1,733.67 points, or 2.27%, to close at 74,781.76, while the NSE Nifty 50 declined 2.09% to end at 23,398.10. The week was dominated by a surge in Brent crude oil prices past the $109 per barrel mark amid escalating US-Iran tensions, a weakening rupee that touched 95.57 against the US dollar, and persistent foreign institutional selling.  

Mid-cap and small-cap indices also ended lower, with the Nifty Midcap 100 declining 0.26% and the Nifty Smallcap 100 falling 0.58% on Friday. The India VIX, a measure of near-term volatility, spiked over 6% to 12.5 during the week as investors grappled with a sharp increase in geopolitical risk. 

Nifty 50 Ends at 23,398 After 5.9% Weekly Intraday Swing 

The Nifty 50 commenced the week on a weak note, opening at 23,779.15 on Monday, 7 September, and declining 0.50% as a firmer-than-anticipated US jobs report weighed on IT stocks. The index slipped further to 23,635.10 on Tuesday, down 0.61%, as crude oil futures surged toward $100 per barrel.  

Wednesday witnessed the sharpest single-day decline of the week, with the Nifty falling 0.86% to 23,431.50, as Brent crude decisively crossed the $100 mark and triggered a broad-based sell-off. The index recovered marginally on Thursday, gaining 0.20% to 23,477.80, before ending the week at 23,398.10, down 0.34% on Friday.  

The Nifty’s intraday low for the week was 23,231.40, touched on Friday, while its weekly high was 23,883.15, recorded on Monday. Over the past five weeks, the Nifty has lost approximately 4.8%, with the index down nearly 4.27% in that period. The IT sector emerged as the biggest drag, with the Nifty IT index falling 3.50% during the week and 21.14% so far in 2026. 

Sensex Slips 1,733 Points as Brent Crude Breaches $109 

The BSE Sensex mirrored the Nifty’s decline, opening the week at 76,132.81 on Monday, 7 September, down 382.62 points or 0.50%. The index fell 555.23 points or 0.73% to 75,577.58 on Tuesday, as private banks and financial stocks including ICICI Bank, Axis Bank, and HDFC Bank came under sustained pressure. Wednesday’s session saw the Sensex plunge 813.35 points or 1.08% to 74,764.23, marking the week’s steepest single-day loss.  

The index recovered 138.36 points or 0.19% to 74,902.59 on Thursday before closing the week at 74,781.76, down 120.83 points or 0.16%. The Sensex’s weekly high was 76,132.81 and its weekly low was 74,194.03, recorded during Friday’s sharp intraday decline. Foreign institutional investors sold equities worth ₹438.24 crore on Thursday and ₹123.19 crore on Tuesday, adding to the downward pressure. 

Nifty Bank Falls 2.47% as 14 Counters Trade in Red 

The Nifty Bank index emerged as a significant laggard during the week, falling 2.47% and now trading nearly 10% below its all-time high. On Friday, 11 September, the index declined 1.36% with all 14 constituents trading in the red at one point during the session. AU Small Finance Bank and IndusInd Bank were the biggest losers within the index, each falling over 2%.  

HDFC Bank declined approximately 2%, while Union Bank and Canara Bank fell over 2% each. Among large banks, State Bank of India declined over 1%, ICICI Bank fell nearly 1%, Kotak Mahindra Bank dropped around 1%, and Axis Bank declined nearly 1%.  

The banking index breached the trendline support of its three-month consolidation zone with a downside gap, triggered by Brent crude surging toward $108. The Nifty PSU Bank index fell 0.5% on Friday, while the Nifty Private Bank index rose 0.5%, reflecting divergent trends within the banking space. 

Nifty IT Sheds 3.5% as AI Concerns, US Rate Fears Bite 

The Nifty IT index was among the worst-performing sectoral indices, declining 3.50% during the week and 4.59% over the past month. On Monday, 7 September, the index fell 1.94% to 30,100.75, weighed down by losses across major IT stocks. Infosys fell 2.85% to ₹1,097.80, LTM declined 2.72% to ₹4,430.20, Mphasis fell 2.44%, Tech Mahindra 1.92%, and HCL Technologies 1.65%.  

The index declined for a fifth consecutive session on Tuesday, losing over 1,200 points over the past week. The sector faced a dual blow from a stronger US jobs report that raised the prospect of higher US interest rates and a McKinsey report highlighting that while AI adoption is rising rapidly, financial returns from these investments remain limited. Only 37% of respondents said AI had contributed positively to their organisations’ EBIT, broadly unchanged from 2025. 

Nifty Midcap 100 Down 0.26%, Smallcap Falls 0.58% 

The broader market also ended the week in negative territory, with the Nifty Midcap 100 declining 0.26% or 160.15 points to close at 62,197.20 on Friday. The Nifty Smallcap 100 fell 0.58%, extending losses from earlier in the week. The Nifty Midcap 50 managed to end with gains, reflecting some resilience in select mid-cap stocks. Among small-cap gainers, IFCI, Welspun Corp, Capri Global Capital, RBL Bank, Brigade Enterprises, Urban Company, and Indraprastha Gas were notable performers.  

Key losers included Aarti Industries, Kaynes Technology India, Amara Raja Energy & Mobility, Swan Corp, and Deepak Fertilisers. The broader market saw over 130 stocks touching 52-week highs, including Welspun Corp, Redington, Finolex Cables, Laurus Labs, and FSN E-Commerce Ventures. 

India VIX Spikes 6% to 12.5 as Oil Fears Grip Markets 

The India VIX, a gauge of near-term market volatility, spiked more than 6% to 12.5 on Friday as crude oil prices surged to near $110 per barrel. The volatility index had traded in a range of 9.25 to 12.12 during the previous week, but the sharp escalation in Middle East tensions and the corresponding spike in oil prices triggered a significant increase in fear among market participants.  

The rise in the VIX was accompanied by a surge in US 10-year Treasury yields to near 5% and the Indian government’s 10-year bond yield rising above 7%. The VIX ended the week at 12.27, up 4% from the previous close, reflecting the heightened uncertainty surrounding the trajectory of crude oil prices and their implications for inflation and interest rates. 

12 Mainboard IPOs Raise ₹7,179 Crore in Week of Frenzied Activity 

The primary market witnessed a flurry of activity during the week, with 12 mainboard initial public offerings (IPO) opening for subscription between 7 and 11 September, collectively aiming to raise ₹7,179.84 crore. Pranav Constructions opened the week on September 7, followed by Glass Wall Systems, Kanohar Electricals, and Prasol Chemicals.  

Karamtara Engineering mobilised over ₹262 crore through its anchor book ahead of its ₹875-crore IPO, which opened on September 9 with a price band of ₹241-254 per share. Steamhouse India raised over ₹124 crore from six anchor investors ahead of its ₹414-crore IPO. Manika Plastech also launched its ₹125-crore offering.  

In the SME segment, Vinod Texworld, Amtech Esters, and Infrax Renewable opened their IPOs on September 9, collectively aiming to raise approximately ₹101.59 crore. The NSE’s much-anticipated IPO, expected to raise approximately ₹30,000 crore, was slated to open later in September, with listing expected on September 25. 

Adani Enterprises Surges 5.1% on Airport Stake Sale Plan 

Adani Enterprises share prices rose nearly 5% after Adani Airport Holdings announced a $1 billion (₹9,825 crore) fundraising from Alpha Wave Global, Premji Invest, Temasek and BlackRock-managed funds. 

The deal values the airport operator at around $18 billion on a pre-money basis. The investors will acquire new shares in three tranches and collectively hold about 5.54% after the final tranche, expected by July 2027. 

Adani Airport Holdings will use the funds to expand and modernise airport infrastructure, develop Adani Airport City projects and scale non-aeronautical businesses such as ground handling. The fundraising follows Adani Enterprises’ ₹15,000 crore QIP in July and strengthens its funding position for airport expansion. 

The company operates eight airports across India, handling more than 23% of the country’s passenger traffic. The latest investment is expected to increase its annual passenger-handling capacity to around 200 million. The fundraising also brings major global investors into the airports business as Adani Enterprises continues to expand its infrastructure portfolio. 

TCS Wins ₹122.6 Crore Odisha Government Contract; Shares Fall 2.3% 

Tata Consultancy Services (TCS) had won a ₹122.6 crore contract from the Odisha government to implement the next phase of the Odisha State Workflow Automation System (OSWAS) 3.0). The project will extend TCS’ partnership with the state by around six years. 

Powered by TCS DigiBOLT, OSWAS 3.0 will combine workflow automation, analytics, system integration, security and AI-enabled capabilities. The platform will support digital file processing, electronic approvals, real-time tracking and easier access to government records. It will also feature a microservices-based architecture, mobile-first design and Odia language support. 

OSWAS has been in use since 2009 and currently supports more than 4,600 government offices and nearly 50,000 users across Odisha. The latest upgrade aims to make government processes faster, more accessible and more transparent. 

TCS share price: Despite the contract win, TCS shares declined on Wednesday amid broader weakness in the IT sector and Indian equities. The stock fell 2.26% to ₹2,209 at Wednesday’s close, while the Sensex declined 1.08%. 

The contract adds to TCS’ public-sector technology portfolio and strengthens its focus on AI and automation-led digital transformation. The company also supports several other Odisha government initiatives, including the Integrated Financial Management System and Odisha Judicial Workflow Automation System. 

Granules India Executes ₹1,160 Crore Block Deal; 5.3% Stake Changes Hands 

Granules India witnessed a ₹1,160 crore block deal on Friday, involving around 1.33 crore shares, or 5.3% of the company’s equity. The shares changed hands at ₹872.50 each, about 3% below the previous close of ₹899.25. The buyer and seller identities remained undisclosed. The deal followed reports that promoter Krishna Prasad Chigurupati planned to sell up to 1.72 crore shares, representing a 6.94% stake. 

Chigurupati held around 31% of the company at the end of June 2026. However, the transaction details do not confirm his involvement in Friday’s deal. Granules India shares have gained around 45% in 2026, despite the Nifty 50 declining about 10.2% during the period. 

The transaction comes after a strong Q1 FY27 performance. The company reported a 60% year-on-year increase in net profit to ₹179.96 crore, while revenue rose 22% to ₹1,476.8 crore. Complex generics accounted for 50% of finished-dosage sales, up from 39% a year earlier. The block deal was smaller than the previously reported potential ₹1,500 crore stake sale. 

Defence Stocks Gain on ₹1.1 Lakh Crore Procurement Approvals 

Defence stocks emerged as a rare bright spot during Tuesday’s session, gaining after defence procurement approvals worth approximately ₹1.1 lakh crore were announced. The approvals, which cover a range of military platforms and equipment, provided a boost to defence-related stocks even as the broader market came under pressure from rising crude oil prices and foreign institutional selling.  

The newly introduced Closing Auction Session added to volatility around the market close on Tuesday, with the Sensex’s indicative price briefly jumping nearly 1,000 points to 75,708 before settling significantly lower. The defence sector has been a consistent outperformer in recent months, benefiting from the government’s focus on indigenisation and increased defence spending. 

Wipro to Exit Nifty 50 on September 30 as BSE Enters 

In a significant index rejig, NSE Indices announced that Wipro Ltd will move out of the Nifty 50 index, with BSE Ltd set to replace it. The changes will take effect from September 30, 2026, after the close of trade on September 29. BSE Ltd’s inclusion in the benchmark index follows its six-month average free-float market capitalisation meeting the required threshold.  

Wipro will move to the Nifty Next 50 index. In other changes, Hitachi Energy India, Polycab India, Vedanta Aluminium Metal, and Vodafone Idea will be included in various indices, while Indian Hotels, Lodha Developers, REC, Shree Cement, and United Spirits will be excluded.  

The Nifty 500 will see 27 stocks being included and 27 stocks being excluded as part of the semi-annual rebalancing exercise. These changes are expected to trigger passive fund flows into the incoming constituents and out of the outgoing ones. 

NSE Freezes ISIN from September 11 Ahead of ₹30,000 Crore IPO Listing 

The National Stock Exchange of India (NSE) initiated the freezing of its ISIN INE721I01024 in the depository system from Friday, 11 September 2026, as part of procedural requirements for its much-anticipated initial public offering. The ISIN will remain frozen until the listing and commencement of trading of the exchange’s equity shares. Shareholders have been advised against creating any pledges over NSE shares during this period, as the equity shares are required to be unencumbered and free from being pledged. During the freeze, no transfers, including off-market transactions, of NSE shares will be permitted without corresponding corporate action and supporting documentation. 

Several institutional shareholders moved to pare their stakes ahead of the IPO. Indian Bank proposed to sell up to 15 lakh NSE shares through an Offer for Sale, representing 17.91% of its holding, with the consent letter executed on 9 September. Bank of Baroda planned to divest up to 76.90 lakh shares, equivalent to 35% of its NSE stake, with the shares transferred to an escrow account on 8 September. New India Assurance also planned to divest 1.05 crore NSE shares, representing 29.83% of its holding. The NSE IPO, expected to raise approximately ₹30,000 crore, is likely to open on 18 September and list on 25 September, and could challenge India’s IPO record. 

Over 150 Companies Turn Ex-Dividend as Kajaria Announces ₹296.7 Crore Buyback 

The week witnessed significant corporate action activity, with over 150 companies including Kalyan Jewellers, IREDA, Zee Entertainment, and NSDL turning ex-record date for dividends between September 7 and September 11. Kajaria Ceramics set September 21, 2026, as the record date for its ₹6 final dividend per share for FY26, while also announcing a ₹296.7 crore share buyback. Kaveri Seed announced a ₹325 crore share buyback at a 9% premium.  

GeeCee Ventures turned ex-dividend on September 7 with a final dividend of ₹2. PVR Inox’s buyback opened on September 10 and was scheduled to close on September 17. Great Eastern Shipping’s buyback commenced on September 4. Sammaan Capital’s board approved enabling authorisation to raise up to ₹25,000 crore via non-convertible debentures and bonds, with its AGM scheduled for September 30, 2026. 

Indian Startups Raise $392 Million Across 27 Deals in Second Week 

Indian startups raised a total of $392 million across 27 deals in the second week of September, compared to $196 million raised in the previous week, marking a significant acceleration in private market activity. QNu Labs raised nearly $21 million (approximately ₹200 crore) in a Series A1 funding round led by the National Quantum Mission and Speciale Invest.  

The funding momentum was supported by participation from investors including Temasek, Seraphim, 360 ONE Asset, IMM Investment, Radical Ventures, and growX Ventures. The increased deal activity in the startup ecosystem contrasted with the cautious sentiment in the public markets, where foreign institutional investors continued their selling spree, offloading equities worth ₹5,611.94 crore during the week, while domestic institutional investors provided strong support by investing ₹23,156.38 crore in equities. 

HDFC Bank Jumps 2.08%, Hindalco Slumps 3.21% on Friday 

On Friday, 11 September, HDFC Bank emerged as the top gainer on the Nifty, rising 2.08% to ₹708.25, while Hindalco Industries was the biggest loser, falling 3.21% to ₹981.50. Dr Reddy’s Laboratories, ITC, Tech Mahindra, and Wipro were among the other major Nifty gainers, while JSW Steel, Tata Steel, Eicher Motors, and ONGC were the top losers.  

Among the Sensex constituents, Dr Reddy’s Laboratories, HDFC Bank, Tech Mahindra, HCL Technologies, ITC, and Wipro were the major gainers. The Nifty Metal index was the worst-performing sectoral index on Friday, declining 2.30% to 12,999.05, while the Nifty Bank index was the best-performing sector, rising 0.24% to 56,606.55. The Nifty Realty index also declined over 2%, reflecting the broad-based selling pressure across cyclical sectors. 

Key Data Releases, RBI Policy and NSE IPO to Drive Sentiment 

The week ahead will be closely watched for a series of domestic and global triggers that could influence market direction. The NSE IPO, expected to raise approximately ₹30,000 crore, remains the most significant primary market event on the horizon, with the issue to open on September 17 and list on September 24.  

On the global front, US consumer inflation data and the Federal Reserve’s September 15-17 policy meeting will be critical in shaping expectations around interest rates. The Bank of Japan’s September 18 policy decision will also be monitored for its impact on global currency markets. Domestic markets will remain shut on Monday, September 14, 2026, on account of Ganesh Chaturthi, providing a brief pause before the next batch of economic data and corporate announcements. 

Source 

• https://www.nseindia.com/index-tracker/NIFTY%2050 

• https://www.nseindia.com/index-tracker/NIFTY%20BANK 

• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-auto 

• https://www.niftyindices.com/indices/equity/broad-based-indices/NIFTY-Midcap-100 

• https://www.niftyindices.com/indices/equity/broad-based-indices/nifty-smallcap-500 

• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-oil-and-gas-index 

• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-it 

• https://www.bseindia.com/sensex/code/16/ 

• https://www.nseindia.com/