JKB Financial Services Ltd.

As on : 26-Sep-2025

Market Commentary - Mid-Session
26-Sep-2025 14:42

Sensex slides 773 pts; PSU bank shares underpressure

The headline equity benchmarks traded with major losses in the mid-afternoon trade after U.S. President Donald Trump announced a 100% tariff on branded drug imports starting from 1 Oct 2025, pressuring pharma stocks despite generics being exempt. The Nifty slipped below the 24,650 mark.

PSU Bank shares declined for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex slipped 773.05 points or 0.94% to 80,382.40. The Nifty 50 index lost 239.65 points or 0.97% to 24,652.25.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.86% and the S&P BSE Small-Cap index declined 2.13%.

The market breadth was weak. On the BSE, 891 shares rose and 3166 shares fell. A total of 165 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index fell 2.01% to 7,244.75. The index dropped 2.76% in the three consecutive trading sessions.

Punjab National Bank (down 3.39%), Central Bank of India (down 3.03%), UCO Bank (down 2.92%), Union Bank of India (down 2.90%), Canara Bank (down 2.77%), Punjab & Sind Bank (down 2.56%), Indian Overseas Bank (down 2.49%), Bank of Maharashtra (down 2.4%), Bank of India (down 2.16%) and Bank of Baroda (down 1.91%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.12% to 6.500 from the previous close of 6.493.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.7050 compared with its close of 88.7675 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement gained 0.35% to Rs 1,13,020.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.19% to 98.02.

The United States 10-year bond yield rose 0.05% to 4.176.

In the commodities market, Brent crude for November 2025 settlement gained 13 cents or 0.19% to $68.71 a barrel.

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