The Nifty settled above the 25,400 level. Pharma, IT and financial services shares advanced while media, PSU Bank and realty shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex, rallied 320.25 points or 0.39% to 83,013.96. The Nifty 50 index added 93.35 points or 0.37% to 25,423.60. In three consecutive trading sessions, the Sensex added 1.50% while the Nifty gained 1.41%.

In the broader market, the S&P BSE Mid-Cap index rose 0.36% and the S&P BSE Small-Cap index shed 0.01%.

The market breadth was positive. On the BSE, 2,193 shares rose and 1,984 shares fell. A total of 174 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 3.53% to 9.89.

IPO Update:

The initial public offer (IPO) of Euro Pratik Sales received bids for 1,61,83,860 shares as against 1,34,64,781 shares on offer, according to stock exchange data at 15:15 IST on Thursday (18 September 2025). The issue was subscribed 1.20 times.

The issue opened for bidding on Tuesday (16 September 2025) and it will close on Thursday (18 September 2025). The price band of the IPO is fixed between Rs 235 and 247 per share. An investor can bid for a minimum of 60 equity shares and in multiples thereof.

The initial public offer (IPO) of VMS TMT received bids for 23,41,78,800 shares as against 1,23,00,000 shares on offer, according to stock exchange data at 15:15 IST on Thursday (18 September 2025). The issue was subscribed 19.04 times.

The issue opened for bidding on Wednesday (17 September 2025) and it will close on Friday (19 September 2025). The price band of the IPO is fixed between Rs 94 and 99 per share. An investor can bid for a minimum of 150 equity shares and in multiples thereof.

The initial public offer (IPO) of Ivalue Infosolutions received bids for 28,94,500 shares as against 1,31,17,272 shares on offer, according to stock exchange data at 15:15 IST on Thursday (18 September 2025). The issue was subscribed 0.22 times.

The issue opened for bidding on Thursday (18 September 2025) and it will close on Monday (22 September 2025). The price band of the IPO is fixed between Rs 284 and 299 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Pharma index added 1.50% to 22,574.35. In the previous session, the index declined by 0.10%.

Biocon (up 4.12%), Laurus Labs (up 3.4%), Glenmark Pharmaceuticals (up 3.29%), Natco Pharma (up 3.17%) and Aurobindo Pharma (up 3.1%), Mankind Pharma (up 2.62%), Ipca Laboratories (up 2.32%), Sun Pharmaceutical Industries (up 1.72%), Gland Pharma (up 1.62%) and Zydus Lifesciences (up 1.32%) added.

On the other hand, Ajanta Pharma (down 0.56%), Granules India (down 0.51%) and Abbott India (down 0.29%) edged lower.

Biocon rose 4.12% after the company's subsidiary, Biocon Biologics, received approval from the US Food and Drug Administration (USFDA) for Bosaya and Aukelso, biosimilars of Amgen's Prolia and Xgeva.

Natco Pharma added 3.17% after the U.S. Food and Drug Administration (USFDA) has issued an establishment inspection report (EIR) classifying its pharma division facility in Kothur, Hyderabad, as voluntary action indicated (VAI).

Stocks in Spotlight:

B R Goyal Infrastructure rallied 1.96% after the company reported an order book of Rs 1,442.93 crore as of 31st August 2025, reflecting healthy inflows across multiple segments.

Natco Pharma added 3.30% after the U.S. Food and Drug Administration (USFDA) has issued an establishment inspection report (EIR) classifying its pharma division facility in Kothur, Hyderabad, as voluntary action indicated (VAI).

Colab Platforms locked in the upper circuit of 2% after the company has signed a non-binding Memorandum of Understanding (MoU) with RRP Drones Innovation to collaborate on developing autonomous AI-powered aerial surveillance drones.

Cochin Shipyard gained 0.63%. The company announced that it has secured an order worth Rs 200 crore from Oil and Natural Gas Corporation (ONGC) for dry dock or major lay-up repairs of jack-up rigs.

Azad Engineering advanced 2.53% after the company announced that it has inaugurated an exclusive Lean manufacturing facility at its new plant in Tunikibollaram Industrial Park, Hyderabad.

Global Markets:

European stocks traded higher on Thursday as investors reacted to the U.S. Federal Reserve's recent 0.25% rate cut. Market participants also awaited the upcoming policy-setting meeting by the Bank of England for further cues.

Asian market ended lower after the Federal Reserve lowered its benchmark rate as expected yesterday.

Federal Reserve Chairman Jerome Powell described the decision as a risk management cut rather than something more directed at shoring up a weak economy.

The Fed also indicated two more rate cuts could be made by the year's end, another in 2026, one more in 2027, and no cuts in 2028.

The Bank of Japan (BoJ) is kick-starting its two-day policy meeting, where it is expected by most economists to keep policy rates steady.

According to reports, the Bank of Japan is likely to leave policy rates unchanged at its upcoming meeting. However, a 25-basis point hike is possible in October, which would take the policy rate to 0.75%.

Meanwhile, China's central bank left a key interest rate unchanged on Thursday, as authorities appear in no rush to ease monetary settings. Resilient exports and a sharp stock market rally have allowed policymakers to withhold fresh stimulus even with a broader economic slowdown, media reports stated.

Overnight in the U.S., markets ended mixed after a choppy session. Although the rate cut had been widely expected, investors appeared uncertain about its broader implications.

The Dow Jones Industrial Average briefly touched a record high before paring gains but still managed to finish 260.42 points higher, or 0.6%, at 46,018.32. In contrast, the S&P 500 slipped 0.1% to close at 6,600.35, while the Nasdaq Composite fell 0.3% to 22,261.33.

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