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M&M, ICICI Bank, Infosys Contributing The Most To Nifty’s Losses

In reaction to an order win, railway PSU RITES Ltd.’s shares increased by as much as 7% on Friday, September 26. Despite being below the day’s peak, the stock is trading at its biggest volume thus far this year.

The business declared that it had secured a $18 million international contract from Talis Logistics of South Africa.

Here are the top contributors to Nifty’s 200 point fall today.

Market extends losses; Nifty slips below 24,700

The Nifty Smallcap index has fallen over 300 points, falling alongside the front-line indices.

The Nifty Midcap Index has fallen over 1,000 points.

Waaree Energies, India’s largest solar panel manufacturer, saw its shares decline more than 6% on September 26 following reports that the US is investigating allegations of evading anti-dumping and countervailing duties on solar cells.

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Market at day’s low; Midcap index down nearly 2%

A series of military contract wins has driven a sharp rally in DroneShield’s shares, positioning the Australian drone maker as the top-performing defence stock in Asia.

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The Supreme Court of India rekindled industry anxiety by preventing JSW Steel from acquiring a bankrupt asset four years after it was completed. The industry has previously experienced trauma from retroactive decision revisions.

The Nifty Smallcap index has fallen over 300 points as it declines alongside the front-line indices.

Partho Banerjee, Senior Executive Officer-Marketing & & Sales at Maruti Suzuki India, To CNBC-TV18

Partho Banerjee of Maruti Suzuki speaks to CNBC-TV18

Siva Chittor, Whole-time Director & CFO of Sai Life Sciences, To CNBC-TV18

Issuing a clarification on the reported US probe, Waaree Energy said that it has in the past cooperated with the US investigations and will continue to cooperate in ongoing investigations. We are a responsible corporate citizen in every country we operate in ,and we abide by all applicable local laws and regulations.

Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited (Tata Power), has signed a Memorandum of Understanding (MoU) with Bank of Baroda to facilitate financing solutions for MSME and Commercial & Industrial (C&I) customers opting for solar energy.

Sanjay Parekh, Founder and CIO of Sohum Asset Managers, which oversees $9.61 million in assets, said his portfolio has no FMCG exposure, pointing to sluggish growth and elevated valuations in the sector.

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HAL To CNBC-TV18

MARUTI SUZUKI To CNBC-TV18

Market Watch: Siddharth Rai Mangala, Sr Research Analyst, Stockbox Technologies

In the face of stronger-than-expected US economic statistics that strengthened the currency and dampened hopes of additional rate cuts this year, gold prices in India slightly declined on Friday, September 26.

According to GoodReturns, the current prices of 24-carat gold are ₹11,488 per gram, 22-carat gold is ₹10,530 per gram, and 18-carat gold (999 gold) is ₹8,616 per gram.

Elon Musk’s AI venture, xAI, has sued OpenAI in the US District Court for the Northern District of California.

The September 23 filing accuses OpenAI of a “deeply troubling pattern” of hiring ex-xAI employees to obtain trade secrets linked to its chatbot, Grok.

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Ankit Thakker, ED & CEO of Jupiter Life Line Hospitals, On CNBC-TV18

Larsen & Toubro (L&T) shares emerged as the top gainers on the Nifty 50, outperforming even as the benchmark index extended its decline for the sixth straight session.

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RITES surged on an order win, with trading volume hitting the highest since July 2 as 2.1 crore shares changed hands versus a 20-day average of 3.7 lakh.

Key technical levels are the 50-DMA at ₹261 and 100-DMA at ₹269, though the stock remains 36% below its peak.

Nitin Raheja, Julius Baer India On CNBC-TV18

Canara Bank arm Canara HSBC Life Insurance has filed an updated DRHP with SEBI

Along with the frontlines indices, all major sectoral indices are trading in red.

As the bears take over the markets, the Nifty 50 index has extended its losses even further.

According to the Wall Street Journal, the US intends to require semiconductor companies to produce domestically an amount of chips equal to what their customers currently import from overseas suppliers.

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