Summary of the Day's Market Performance

• Indian benchmark indices ended lower on September 27, with Nifty slipping below 26,200.

• Sensex closed down by 264.27 points at 85,571.85, and Nifty declined by 37 points to close at 26,179.

• BSE Midcap and Smallcap indices ended flat.

• After a recent surge, the markets experienced sideways movement as investors engaged in profit booking at elevated levels.

• The Chinese market showed strong gains, influencing metals stocks, while the weakness in INR provided support to the Pharma and IT sectors.

• Investors are keenly awaiting the Q2 earnings report, expecting improved earnings outlooks.

Performance of Key Sectors

• Gainers: Auto, Metal, IT, Pharma, Oil & Gas up 0.3-2.5%.

• Losers: Realty, Power, Bank, Media, FMCG, Telecom down 0.3-1%.

Market Transactions:

• Foreign Institutional Investors (FII): ₹-1,209.10 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹6,886.65 crore (Net Buyers)

Domestic investors showed strong buying activity, while foreign investors remained cautious, pulling out funds.

• Profit Booking: After significant gains, profit booking emerged at elevated levels, leading to market consolidation.

• Earnings Season: Investors are now focused on the upcoming Q2 earnings, which are expected to shape market sentiment.

• INR Weakness: The depreciation in INR helped boost Pharma and IT stocks, making these sectors stand out in today's trade.

The sugar sector witnessed a massive surge, with stocks like Shree Renuka Sugars, Bajaj Hindustan, and Balrampur Chini soaring by 7-11%, fueled by a buzz of price hikes!

Key Stock Movements and News

• Top Gainers: BPCL, Cipla, Sun Pharma, Coal India, Reliance Industries.

• Top Losers: Power Grid Corp, Bharti Airtel, HDFC Bank, ICICI Bank, Kotak Mahindra Bank.

• RITES bagged an order worth ₹100 crore from Adani Ports.

• Sugar stocks soared on price hike speculations, with Shree Renuka Sugars, Bajaj Hindustan, and Balrampur Chini rallying 7-11%.

• SpiceJet shares rose as the airline cleared all GST dues after raising ₹3,000 crore via QIP.

• Tata Power jumped 3% intraday after a double upgrade from Morgan Stanley, which sees a potential 20% upside from current levels.

• SJVN rallied 6% after signing two agreements with the Maharashtra Government worth ₹48,000 crore.

• Westlife Foodworld gained as Goldman Sachs upgraded the stock.

• Authum Investment is set to acquire a 26% stake in Prataap Snacks via an open offer.

• Tata Power: With a double upgrade by Morgan Stanley and a projected 20% upside, this stock is positioned for further gains.

The market faced some consolidation as profit booking at higher levels dragged the Nifty below 26,200. While the auto, metal, IT, and pharma sectors provided support, pressure on banking, power, and FMCG stocks led to a mixed market performance. Domestic institutions drove the buying momentum, but foreign investors continued to offload. With the Q2 earnings season around the corner, all eyes are on future corporate performances to guide market direction.

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Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.

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