The BSE Sensex rose by 355.97 points, or 0.44%, closing at 81,904.70, while the NSE Nifty 50 climbed 108.50 points, or 0.43%, to settle at 25,114.
The market saw overall positive sentiment, with the Nifty Midcap 100 and Nifty Smallcap 100 both ending the day in the green. The Nifty Midcap 100 gained 0.32%, while the Nifty Smallcap 100 saw an increase of 0.64%.
The India VIX, a measure of market volatility, decreased by 2.29%, closing at 10.12 points, which suggests a period of relatively low volatility in the market.
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Impact on the stock market
Sector-wise performance
The Nifty FMCG, PSU Bank, and Media indices underperformed. The FMCG sector, typically a defensive one, faced some selling pressure, which affected its overall performance on the day.
| Sector/Index | Performance |
| IT & BPM sector | 0.30% |
| Healthcare sector | 0.43% |
| Oil & Gas sector | 0.04% |
| Real estate sector | 0.06% |
| PSU Bank in India | -0.27% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Bharat Elec | 399.35 | 3.69 |
| Bajaj Finance | 1,003.25 | 3.40 |
| Bajaj Finserv | 2,081.50 | 2.14 |
| Hindalco | 758.05 | 2.07 |
| Shriram Finance | 632.85 | 2.06 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| HULÂ | 2,580.50 | -1.58 |
| Eternal | 323.65 | -1.36 |
| Bajaj Auto | 9,003.00 | -1.21 |
| IndusInd Bank | 741.80 | -0.91 |
| Trent | 5,130.00 | -0.79 |
Market aftermath: Impact on stocks
Infosys announces Rs 18,000-crore share buyback
Infosys made headlines with its announcement of a Rs 18,000 crore share buyback, the largest in the company’s history. The buyback is priced at Rs 1,800 per share, which represents a 19% premium over its previous closing price. This announcement gave a boost to Infosys shares, which gained 2% intraday.
The buyback is expected to benefit the company’s 26 lakh shareholders and is part of Infosys’ capital allocation strategy to return 85% of its free cash flow over five years through dividends and share repurchases. The buyback will be done through the tender offer route, allowing shareholders to submit their shares within a stipulated time frame.
Despite a 3% decline in the stock price over the past six months and a significant 18% drop in 2025, analysts have been bullish on the stock’s prospects. CLSA set a target price of Rs 1,861, implying an upside of 23%, while Nomura set a price target of Rs 1,880, reflecting a 24% potential upside.
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Steel stocks fall as earnings outlook weakens
Steel stocks faced pressure after a report by JM Financial Securities predicted subdued earnings for the steel sector in Q2. The report cited several factors affecting steel companies, including declining steel prices, increased Chinese exports, and seasonal challenges.
- Jindal Stainless fell by 1.6%, while Jindal Steel & Power dropped by 0.91%.
- JSW Steel also saw a slight dip of 0.2%.
The subdued earnings outlook has raised concerns among investors, leading to profit-taking in these stocks. As steel prices decline and supply from China increases, the market is expecting a muted performance from Indian steel companies in the upcoming quarter.
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HFCL shares rise after Andhra Pradesh land allotment
Shares of HFCL Ltd surged by over 4% after the Andhra Pradesh government allotted 1,000 acres of land for the company’s defence manufacturing facilities. The proposed facilities will manufacture artillery shells, TNT, and multi-mode hand grenades, among other defence products.
At Rs 73.27, HFCL’s stock rose by 4.4%, driven by the positive news of land allocation for its expansion in the defence sector. The market capitalization of HFCL now stands at around Rs 10,600 crore. Despite challenges in its past performance, the company’s growth in the defence sector is seen as a key driver for future prospects.
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Crude oil: Prices dip amid increased supply forecasts
Crude oil prices fell on September 12 after the International Energy Agency’s (IEA) Oil Market Report indicated an increase in global oil supplies.
- Brent crude was down by 0.74%, trading at $65.88.
- WTI crude fell by 0.80%, closing at $61.87.
The IEA forecasted that global oil production would rise by 2.7 million barrels per day in 2025 and 2.1 million barrels per day in 2026, mainly driven by non-OPEC countries such as the US, Brazil, and Canada. This increase in supply, coupled with muted demand in some emerging economies, contributed to the price drop.
The global oil demand growth is forecasted to rise by 740,000 barrels per day in 2025, with advanced economies leading the charge. The increased supply and demand imbalance have led to some cautious sentiment in the oil market, contributing to the dip in prices.
Conclusion
The Indian stock market had a strong finish to the week, with both Sensex and Nifty 50 posting gains. While Infosys’s record-breaking buyback and HFCL’s defence expansion news were key positive drivers, the steel sector faced headwinds due to weaker earnings projections.
The oil market, too, showed signs of uncertainty, as increased supply and forecasted demand slowdowns weighed on prices. However, the overall market sentiment remained positive, with a steady flow of positive news supporting key sectors.
As always, staying informed about corporate announcements, sectoral performance, and macroeconomic trends will be essential for navigating the coming weeks in the market.
For more stock market insights, check out the StockGro blog.
