News

What is the problem for the Bulls?

FII Average Selling!

Last Week                                        -3914cr

Earlier in September                   -705cr

What are bulls clinging onto?

Stretched Technical Indicators

Half-yearly NAV propping

FIIs IN INDEX FUTURES

Contracts                Change in OI                        Positioning

Shorts                    +19,067             86%

Rollovers

Nifty OI                                               52%

Bank Nifty OI                                  48%

OPTION CUES

Nifty PCR at 0.63 Vs 0.68

NIFTY OPTIONS (Sept 30)

Strike                                 Change in OI                 Premium

24800 call                        +1.07 cr shares                             46

24900 call                        +75.83 lk shares                          26

24600 put                         +38.91 lk shares                          54

Nifty levels

26-Sep-25 high                             24869                 (50 DMA 24,865)

Support                                              24500

Nifty Bank

20 DMA                              54,717

200 DMA                           53,194

F&O BAN:

STILL IN BAN: RBL BANK

OUT OF BAN: SAMMAAN CAP

Nifty Rejig!

Who will be included?

IndiGo

Max Healthcare

Who will be excluded?

Hero MotoCorp

IndusInd

Atlanta Electricals Ltd. will debut on the stock market on September 29 after its nearly ₹700 crore IPO was heavily subscribed. The three-day IPO was subscribed 72.16 times overall, with the QIB portion seeing 194 times subscription. Shares were priced between ₹718 and ₹754, with a ₹70 discount for eligible employees. here

Analysts expect gold and silver to continue their upward trend this week but caution that late profit-booking may occur as traders track key global economic indicators, including PMI data, US non-farm payrolls, consumer confidence, and comments from Federal Reserve officials. here

With advances throughout the region offsetting losses in Japan, Asian equities opened in a narrow range.

The Nikkei-225 index dropped 0.7% while Australian and South Korean stocks rose. US stock equity-index futures rose 0.2%, suggesting that Friday’s gains would hold. As traders kept an eye on the possibility of a US government shutdown, a measure of the dollar remained stable.

Tata Capital Ltd., the Tata Group NBFC, has set a price band of ₹310–₹326 per share for its ₹15,000 crore-plus IPO, the largest of 2025. The issue opens for subscription on October 6. here

As worries about a glut were heightened by hopes that OPEC+ would increase production once more in November, oil fell at the beginning of the week.

After rising 5.2% last week, Brent dropped below $70 a barrel, while West Texas Intermediate was trading at about $65.

The British government has announced a £1.5 billion ($2 billion) loan package to support Jaguar Land Rover after the company was hit by a cyber breach earlier in September. here

Analysts said stock markets will be influenced this week by the RBI’s interest rate decision, tariff-related developments, global cues, and foreign investor activity. Investors will also track macroeconomic data, including industrial production and HSBC PMI manufacturing figures. here

Lupin arm Nanomi signed a definitive agreement to acquire VISUfarma for an EV worth €190 million.

TRADE SET UP

LAST WEEK

THIS WEEK

India’s stock market has underperformed other emerging markets in 2025, dragged by foreign portfolio investor outflows, a weaker rupee, and global trade concerns, said Mahesh Patil, CIO at Aditya Birla Sun Life AMC. He noted that “year-to-date, the Indian market has underperformed the emerging market by almost 26% in dollar terms” as investors shifted to China and Europe. here

Shares of HDB Financial Services, the non-bank lending arm of HDFC Bank, will be in focus on September 29 as its three-month shareholder lock-in period following the IPO comes to an end. here

The Dubai Financial Services Authority (DFSA) has barred HDFC Bank’s Dubai International Financial Centre (DIFC) branch from taking on new clients or fresh business. The bank informed stock exchanges that the branch received the decision notice on September 26. here

GIFT Nifty is higher, trading at a premium of more than 100 points from the Nifty Futures Friday close, indicating a gap-up start for the Indian market.

On Friday, Hindustan Unilever Ltd. (HUL) released its Q2 FY26 business report, outlining the prospects and immediate difficulties brought on by the most recent GST amendments.

About 40% of its products, including soaps, toothpaste, shampoos, hair oils, talcum powder, lifestyle nutrition, and other items, are now subject to a lower GST rate of 5% as of September 22, as opposed to the previous slabs of 12% or 18%.

Three independent directors of PTC India Financial Services — Seema Bahuguna, Naveen Bhushan Gupta and PV Bharathi — resigned on September 28, citing corporate governance concerns that had made it “difficult” for them to function. They had joined the board in November 2022. here

Last week would rank first on the list of forgettable weeks, according to the Nifty bulls. The index has lost 800 points, or 80% of the 1,000-point climb it saw from the August 29 lows, since its peak on September 18 of 25,448.

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