IT, banking and FMCG shares advanced while auto and media stocks declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex added 323.83 points or 0.40% to 81,425.15. The Nifty 50 index rose 104.50 points or 0.42% to 24,973.10.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.84% and the S&P BSE Small-Cap index advanced 0.72%.

The market breadth was negative. On the BSE, 2,414 shares rose and 1,704 shares fell. A total of 167 shares were unchanged.

Fitch Ratings:

Global ratings agency Fitch Ratings has revised its growth forecast for India, raising its projection for the fiscal year ending March 2026 (FY26) to 6.9 percent, up from the previous 6.5 percent.

India-US Trade Deal

US President Trump indicated progress in India-US trade negotiations, a move that could lift sentiment in Indian equities. He expressed confidence in concluding discussions with Prime Minister Narendra Modi, who underscored the strategic importance of the India-US partnership.

IPO Update:

The Initial Public Offer (IPO) of Urban Company received bids for 29,25,24,015 shares as against 10,67,73,244 shares on offer, according to stock exchange data at 15:35 IST on Wednesday (10 September 2025). The issue was subscribed 2.74 times.

The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 98 and 103 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.

The Initial Public Offer (IPO) of Shringar House of Mangalsutra received bids for 2,88,54,900 shares as against 1,70,16,000 shares on offer, according to stock exchange data at 15:35 IST on Wednesday (10 September 2025). The issue was subscribed 1.79 times.

The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 155 and 165 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.

The Initial Public Offer (IPO) of Dev Accelerator received bids for 6,13,69,075 shares as against 1,31,47,075 shares on offer, according to stock exchange data at 15:35 IST on Wednesday (10 September 2025). The issue was subscribed 4.67 times.

The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 56 and 61 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.

Buzzing Index:

The Nifty IT index rallied 2.62% to 36,178.55. The index jumped 5.44% in the two consecutive trading sessions.

Oracle Financial Services Software (up 10.12%), Persistent Systems (up 5.81%), Coforge (up 4.41%), Mphasis (up 4.15%), HCL Technologies (up 2.71%), Wipro (up 2.71%), LTIMindtree (up 2.39%), Tata Consultancy Services (up 2.05%), Tech Mahindra (up 1.99%) and Infosys (up 1.96%) advanced.

Stocks in Spotlight:

Kellton Tech Solutions jumped 4.73% after the company announced the signing of a memorandum of understanding (MoU) with Hungary-based E-Group ICT Software Zrt to collaborate on an AI Project under the EU' India Framework Agreement.

Hero MotoCorp declined 1.53%. The company announced that it will fully pass on the benefits of the next-generation GST 2.0 reforms to customers, effective 22 September 2025.

Bajaj Auto fell 1.56%. The company announced that it will fully pass on the recent GST reduction to buyers, offering price cuts of Rs 20,000 on its two-wheelers and KTM motorcycles and up to Rs 24,000 on its three-wheeler range.

Sun Pharmaceutical Industries rose 0.06%. The company said the U.S. Food and Drug Administration (FDA) has classified its Halol manufacturing facility in Gujarat as official action indicated (OAI), indicating non-compliance with the regulator's manufacturing standards.

Sri Lotus Developers and Realty added 2.52% after the company said that it has been appointed as developer of a prestigious re-development project located in Mumbai's Bandra West, in close proximity to the iconic Bandstand Promenade.

Oracle Financial Services Software surged 10.54% after its parent, Oracle Corp, delivered an ambitious forecast for its cloud business, lifting the NYSE-listed stock to a record high.

Olectra Greentech rose 2.52% after a media report stated that China's electric vehicle giant BYD plans a senior management visit to India. The report notes that BYD, the world's largest EV maker, is preparing to assess its existing factory, restart training programs, and explore market opportunities for its Atto 2 compact electric SUV, set to be its most affordable model in India.

Olectra Greentech, a key partner of BYD in India, has played a pivotal role in manufacturing and supplying electric buses. The collaboration was the first to bring fully electric buses to the Indian market and has helped establish local design, R&D, and manufacturing capabilities. Olectra continues to supply buses across the country using BYD's technology.

Global Markets:

European market advanced Wednesday as investors awaited U.S inflation data due later today.

Asia market ended higher as investors assessed China's August inflation data.

Consumer prices in the mainland fell 0.4% year over year in August, according to data from the National Bureau of Statistics released Wednesday. Core CPI, which strips out volatile food and energy prices, rose 0.9% from a year earlier, according to the official release.

Meanwhile, the producer price index fell 2.9% year over year, improving from the 3.6% drop in July.

In South Korea, the seasonally adjusted unemployment rate rose slightly to 2.6% in August compared with July's 2.5%, according to government data.

Overnight, all three key benchmarks in the U.S. closed at all-time highs as investors moved past concerns about disappointing jobs data and bet on Federal Reserve rate cuts.

The S&P 500 index settled up 0.27% at 6,512.61, while the Nasdaq Composite gained 0.37% to end the day at 21,879.49, with the latter hitting a new all-time intraday high as well. The Dow Jones Industrial Average finished up 196.39 points, or 0.43%, at 45,711.34.

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