Summary
The Sensex fell 329.91 points to close at 74,529.08 while the Nifty 50 declined 85.30 points to end at 23,329.00 on Tuesday, 22 September 2026, with the Nifty snapping its four-day winning streak as IT and financial shares weighed.
Nifty Media, Realty and Metal rose the most while IT, PSU Bank and Pharma declined the most, with Trent, Tata Consumer Products and Tata Consultancy Services the top Nifty losers.
Raymond surged up to 10% to a fresh 52-week high ahead of its fundraising meeting, taking its six-month gain past 200%, while PC Jeweller rose over 5% after clearing more than 98% of its bank debt.
Infosys extended its slide to 5% over five sessions as brokerages turned cautious on IT demand, and Brent crude recovered above $101 after four days of declines as markets awaited possible US-Iran talks at the UN.
The Sensex fell 329.91 points, or 0.44%, to close at 74,529.08, while the Nifty 50 ended 85.30 points, or 0.36%, lower at 23,329.00.
The broader market held up better than the benchmarks. The Nifty MidCap slipped just 0.08% and the Nifty SmallCap eased 0.23%, suggesting the selling stayed concentrated in a handful of index heavyweights.
Impact on the stock market
Sectoral gainers: Nifty Media, Nifty Realty and Nifty Metal rose the most, with realty and metals continuing the momentum from recent sessions.
Sectoral losers: Nifty IT, Nifty PSU Bank and Nifty Pharma declined the most, with pharma pausing after a three-session rally and IT pressured by cautious brokerage commentary ahead of the September quarter results.
| Sector/Index | Performance |
| IT & BPM sector | -0.86% |
| Healthcare sector | -0.46% |
| Oil & Gas sector | -0.43% |
| Real estate sector | 0.90% |
| PSU Bank in India | -0.49% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Coal India | 428.00 | 3.21 |
| Eternal | 342.00 | 1.82 |
| Interglobe Avi | 5,030.00 | 1.80 |
| Titan Company | 4,928.50 | 1.10 |
| Dr Reddys Labs | 1,211.00 | 1.06 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| TATA Cons. Prod | 984.10 | -1.65 |
| Nestle | 1,363.90 | -1.52 |
| Bajaj Finserv | 1,823.40 | -1.43 |
| Bajaj Finance | 1,008.80 | -1.22 |
| Sun Pharma | 1,846.40 | -1.20 |
Market aftermath: Impact on stocks
Raymond: A 52-Week High and a 200% Six-Month Run Ahead of Its Fundraise
Raymond shares rose as much as 10% in early trade, hitting the upper circuit and a fresh 52-week high of ₹1,193.40 on the NSE, before profit booking trimmed the gain to 4.36% at ₹1,132.20. The rally comes ahead of the company’s extraordinary general meeting scheduled for Saturday, 3 October, which is expected to consider a preferential issue of securities through private placement. According to a BSE filing, Raymond plans to raise funds by allotting 33.28 lakh convertible warrants at ₹645 per warrant to Minerva Ventures Fund.
The fundraise sits on top of a remarkable run, with the stock up 204.28% over the last six months according to BSE Analytics. A warrant at ₹645 against a market price above ₹1,100 highlights how far the stock has travelled since the terms were framed. As always after a vertical rise, investors chasing the momentum should note that Tuesday’s intraday reversal from the high shows profit booking is already active.
Infosys: A 5% Slide in Five Sessions as Brokerages Turn Cautious
Infosys fell another 1.07% to ₹1,027.40, taking its decline over the past five sessions to around 5%, as the Nifty IT index dropped up to 1%. Brokerage CLSA flagged subdued demand as a risk to the sector’s medium-term earnings, saying management commentary heading into the results silent period remains “cautious at best” and that weak macro fundamentals from geopolitics, higher rates and inflation pose downside risk, particularly for Infosys and Wipro. It did note that order books and headcount should stay largely stable, and that demand from banking and financial services clients remains resilient, with HCL’s commentary the most upbeat among peers.
Fund manager Prasenjit Paul of Paul Asset offered a blunter take, saying artificial intelligence is changing the traditional IT services model faster than expected and that Infosys’s accelerating investments in AI, talent and platforms could keep growth and margins under pressure, even though the June quarter margin was healthy at 21.1%. Technically, he noted the structure remains weak with the stock near ₹1,040 against its 200-day moving average around ₹1,289, a long-term trend line it has fallen well below. His advice was to avoid fresh buying until the stock sustains above that level, and for existing investors to use short-term rallies to reduce exposure.
PC Jeweller: A 5% Gain After Clearing 98% of Its Bank Debt
PC Jeweller shares rose over 7% intraday to ₹13.72 before settling 5.39% higher at ₹13.48, after the company announced it had repaid its outstanding debt to one more bank under its September 2024 settlement agreement. With this repayment, the company has fully settled its obligations with 12 of its 14 consortium banks, all ahead of their scheduled due dates. In its exchange filing, the company said it has now discharged more than 98% of its total bank debt liabilities.
For a stock that spent years weighed down by its borrowings, each repayment milestone chips away at the overhang that kept investors away. The announcement also included the allotment of equity shares following the conversion of warrants, part of the funding that has powered the clean-up. Two banks remain, but at 98% done, the debt story is close to its final chapter.
Crude Oil: Brent Recovers Above $101 as All Eyes Turn to the UN
Crude prices snapped a four-day losing streak on Tuesday morning, with November Brent futures rising 1.13% to $101.47 a barrel, WTI gaining 0.91% to $93.21, and October crude futures on the MCX up 1.2% to ₹8,942. The market’s focus is the UN General Assembly this week, where US President Donald Trump has said he would be open to meeting Iranian President Masoud Pezeshkian, and reports suggest Iran has conveyed its conditions for re-engaging in talks through mediators. A genuine meeting would be the most significant diplomatic step of the entire conflict.
Supply strains persist underneath, with Saudi Aramco warning some European customers it may be unable to allocate crude cargoes next month as the damaged East-West pipeline limits availability at Yanbu, pushing some North Sea grades to steep premiums. Aramco has compensated by increasing exports through the Strait of Hormuz, loading about 14 million barrels on seven supertankers inside the Gulf on Sunday. In a notable diplomatic turn, China has reportedly urged Iran privately to help curb Houthi attacks after an appeal from Saudi Arabia.
Conclusion
Tuesday’s pullback was orderly rather than alarming, with the Nifty’s four-day streak ending on the back of IT weakness while media, realty and metals kept rising and the broader market barely moved. The Infosys story deserves attention because the brokerage caution ahead of results season suggests the sector’s summer rebound is being re-examined, and the September quarter numbers will decide who was right. Raymond and PC Jeweller showed the market still rewards clear corporate catalysts, from fundraising momentum to a debt clean-up nearly complete. The week’s defining event now sits in New York, where a possible Trump-Pezeshkian meeting at the UN could reset the oil market, and with it the biggest variable hanging over Indian equities.
