🌍 Global & Macro Overview
Markets globally were jittery today, with fresh U.S. tariff announcements weighing heavily on investor sentiment.
The pharma sector in India was hit hard after news of steep import duties on branded drugs triggered sharp selloff in related names.
Meanwhile, continued foreign capital outflows exerted additional pressure on the domestic equity space.
Investor caution was amplified by weak trend cues from global indices, and the domestic tone remained defensive.
The failure to find strong support in earlier sessions carried through into the close.
📈 Top Gainers & 📉 Top Losers
Gainers:
- L &T – 2.7% up – ₹3743.
- Tata Motors -1.4% up-₹673
- ITC- 1.2%-up ₹405
Losers:
1.Indusand Bank – 3.8% Down- ₹712
2.M&M- 3.6% Down -₹3400
3.Tata Steel -2.9% Down- ₹167
On the downside, the pharmacy / pharmaceutical names were worst hit following the tariff shock. Large-cap IT and finance names also absorbed selling pressure, compounding the bearish theme.
🏦 Index Levels, Market View & Sentiment
Nifty: breached support zones; key support was around 25,000 / 24,900, resistance would now rest near 25,125–25,200.
Bank Nifty:
By day’s end, markets settled substantially weaker.
Reports indicate that Nifty ended below 24,700, and the Sensex tumbled ~730 points, extending the slide.
Nifty 50: 24,654.70 (down ~236.15 pts / –0.95%)
Sensex: 80,426.46 (down ~733.22 pts / –0.90%)
Bank Nifty: 54389.35(down~586.85 pts/-1.06%)
Given the steep declines, markets may remain choppy.
Any rebound would need strong institutional participation or a surprise global cue.
Open interest trends (from F&O data) suggest that many call options had built up earlier near higher strikes — those positions are under stress with the fall.
Some unwinding of longs is likely contributing to the downward momentum.
🧾 FII / DII Flows & Cash Segment Activity
FII / DII data:
FII / FPI (26-Sep-2025): Gross purchase ~ ₹10,751.34 crore, gross sales ~ ₹16,438.92 crore → net ~ –₹5,687.58 crore (net sellers)
DII (26-Sep-2025): Gross purchase ~ ₹17,766.67 crore, sales ~ ₹11,923.46 crore → net ~ +₹5,843.21 crore (net buyers)
This dynamic — FIIs selling, DIIs buying — is now a recurring theme. Domestic flows are providing some cushion, but not enough to halt the slide.
📊 VIX / Volatility
Volatility rose today. The India VIX up figure of 11.43 (+5.9%) was reported in market commentary, pointing to increased fear.
A rising VIX in the middle of a decline signals that uncertainty is increasing. Traders should expect sharper intraday moves and manage risk with tighter stops.
📅 IPO / Primary Market Updates
While broader markets were weak, the IPO segment remains active.
Some names may struggle in the near term given the overall tone.
The structural momentum is intact — but demand risk is higher now. (From daily post-market summary)
Monitor subscription trends and anchor investor uptake before placing significant allocations.
💡 Investment / Trade Themes
Swing / Tactical Ideas
Watch volatile names like Vodafone Idea for intraday bounces — but treat them as high-risk trades.
Infrastructure / energy / power names may offer counter-trend bounce potential if global cues turn mild. In oversold names, look for signs of reversal (e.g. bullish divergences) before entry.
Long-Term Picks
Defensive large-cap banks (SBI, ICICI) remain strong structural bets as valuations correct.
IT exporters and infrastructure names, while under pressure now, have longer-term tailwinds.
Select pharmaceutical names may be oversold, but the tariff shock means risk is elevated here.
Adopt a staggered approach — don’t go all-in at once. Use pullbacks responsibly.
🔍 Final Thoughts
September 26, 2025 turned into a brutal session for Indian markets.
The catalyst was the U.S. tariff action on pharma, exacerbated by weak global cues and continued FII selling.
The domestic buying (DII) was helpful, but not strong enough to reverse the momentum. With volatility rising, expect sharper swings ahead.
In this environment, trade with caution. Use defined risk limits, watch for support holds or breakouts, and avoid chasing panic moves. Long-term investors should keep capital ready to selectively buy strong names on dips.