JKB Financial Services Ltd.

As on : 23-Sep-2025

Market Commentary - Mid-Session
23-Sep-2025 14:14

Indices recover losses; PSU bank shares rallies

The headline equity benchmarks reversed all losses and traded with minor gains in the mid-afternoon session. Investors are closely monitoring IPO participation. The market is volatile today due to the weekly F&O expiry of the Nifty and Bank Nifty. The Nifty is trading near the 25,200 level. PSU bank shares advanced after declining in the previous trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex advanced 61.05 points or 0.08% to 82,207.60. The Nifty 50 index added 10.90 points or 0.05% to 25,213.25.

In the broader market, the S&P BSE Mid-Cap index fell 0.18% and the S&P BSE Small-Cap index declined 0.24%.

The market breadth was weak. On the BSE, 1,767 shares rose and 2,310 shares fell. A total of 179 shares were unchanged.

Economy:

The HSBC Flash India Composite Output Index declined to 61.9 in September compared with 63.2 in August. Growth of factory production outpaced that seen for services activity, though rates of increase moderated in each case.

HSBC Flash India Services PMI Business Activity Index eased to 61.6 in September as against 62.9 in August. HSBC Flash India Manufacturing PMI Output Index slipped to 62.7 in September as compared with 63.7 in August.

The HSBC India Manufacturing PMI eased to 58.5 from 59.3 in August. Despite the dip, the index continued to signal strong improvement in operating conditions, remaining well above the neutral 50.0 mark and the long-run average of 54.2.

Buzzing Index:

The Nifty PSU Bank index jumped 1.33% to 7,468.95 . The index shed 0.36% in the past trading session.

State Bank of India (up 2.1%), Canara Bank (up 1.88%), Union Bank of India (up 1.53%), Bank of Baroda (up 1.04%), Bank of India (up 0.77%), Punjab National Bank (up 0.63%), Central Bank of India (up 0.48%), Punjab & Sind Bank (up 0.27%) and UCO Bank (up 0.13%) advanced.

On the other hand, Indian Bank (down 0.79%), Indian Overseas Bank (down 0.20%) and Bank of Maharashtra (down 0.10%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper added 0.23% to 6.496 from the previous close of 6.481.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.7675 compared with its close of 88.2875 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement jumped 1.24% to Rs 1,13,628.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 96.94.

The United States 10-year bond yield fell 0.34% to 4.131.

In the commodities market, Brent crude for November 2025 settlement lost 28 cents or 0.42% to $66.29 a barrel.

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