The BSE Sensex ended at 81,160, down by 556 points or 0.68%, while the Nifty50 closed at 24,891, slipping by 166 points or 0.66%.
The broader markets mirrored the downtrend, with the Nifty MidCap index slipping by 0.64% and the Nifty SmallCap index falling by 0.57%. These losses reflected the widespread nature of the selloff, with most sectors affected negatively.
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Impact on the stock market
Sector-wise performance
The sectoral indices painted a bleak picture, with only the Nifty Metal index showing a glimmer of positivity, up by 0.22%. On the other hand, the Nifty Realty index was the hardest hit, losing 1.65%, marking its second consecutive day of declines. The Nifty Auto index also saw a drop of 0.9%, adding to the bearish sentiment.
The Nifty IT index, which has been struggling recently, fell by 1.3%, exacerbating the downward pressure. Other major losers included the Nifty Pharma and Nifty FMCG indices, which also ended lower by 0.8% and 0.5%, respectively. This broad-based decline reflects the overall weak market sentiment.
Market breadth remained negative, with 2,709 stocks declining compared to 1,474 advancing. TCS was the biggest drag on the Sensex, slipping by 2.5%, followed by Reliance Industries, which fell by 0.8%.
| Sector/Index | Performance |
| IT & BPM sector | -1.27% |
| Healthcare sector | -0.77% |
| Oil & Gas sector | -0.31% |
| Real estate sector | -1.65% |
| PSU Bank in India | -0.52% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Bharat Elec | 403.15 | 1.95 |
| Hero Motocorp | 5,354.50 | 1.47 |
| Axis Bank | 1,166.60 | 0.66 |
| Hindalco | 745.65 | 0.62 |
| ONGCÂ | 239.67 | 0.48 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Trent | 4,742.50 | -3.15 |
| Power Grid Corp | 284.40 | -3.03 |
| Tata Motors | 664.30 | -2.73 |
| TCSÂ | 2,957.40 | -2.57 |
| Asian Paints | 2,404.00 | -2.17 |
Market aftermath: Impact on stocks
Accenture’s Strong Performance Amid Market Decline
Despite the broader market’s struggles, Accenture’s performance remains a standout. The company reported a strong growth trajectory in Generative AI (Gen AI) bookings, with Q4 bookings touching $1.8 billion and total FY25 bookings reaching $5.9 billion. This growth in AI-related services reflects the continued enterprise demand for advanced technological solutions, and Accenture’s focus on AI-driven services has driven its success.
For the full fiscal year, Accenture’s Gen AI-related bookings exceeded $7 billion, with the company being one of the few large IT firms to disclose such revenue and bookings. Accenture’s strategic investments in AI are paying off, driving its revenue growth in FY25, which saw a 7% increase.
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Jefferies Sees Upside for Nifty Despite Current Struggles
Global brokerage Jefferies has a positive outlook for the Indian stock market, forecasting a nearly 7% upside for the Nifty by the end of 2025. Jefferies has set a target of 26,600 for the Nifty50, which implies a potential rise from current levels. Despite the recent underperformance of Indian equities, Jefferies sees the market ripe for a near-term bounce.
However, the brokerage cautioned that equity supply could limit the upside due to an expanded issuance encouraged by market regulators. Foreign investors, who have been underweight on Indian stocks due to earnings disappointments, might also limit the overall growth potential in the short term. Despite these challenges, Jefferies remains optimistic about the market’s long-term growth, supported by India’s economic growth forecast and expected capital inflows.
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IT Stocks Struggle Amid US Visa Concerns
The IT sector has been facing significant headwinds following the Trump administration’s recent announcements regarding changes to the H-1B visa program. The news that the US plans to introduce a wage-based selection process for H-1B visas has sent shockwaves through Indian IT stocks, which rely heavily on these visas for their global operations.
Tata Consultancy Services (TCS), HCLTech, and Wipro were among the hardest-hit stocks, with TCS reaching a 52-week low of ₹2,956.90 per share. The Nifty IT index fell by 1.25% in the afternoon session, extending its losses for the fifth consecutive day. This decline reflects investor concerns over the long-term impact of these visa policy changes on hiring and offshore operations.
Analysts suggest that while the proposed changes may hurt fresh hiring, especially for startups and smaller IT firms, larger companies might mitigate the impact through offshoring, local hiring, and nearshoring strategies. The overall sentiment, however, remains cautious, as the sector struggles to adjust to these policy shifts.
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Crude Oil Prices: A Mixed Outlook
In global commodities, crude oil futures traded lower due to concerns over an oversupply in the market. November Brent oil futures dropped by 0.51%, closing at $66.23, while WTI futures fell by 0.47%, settling at $61.99. The decline in oil prices is linked to reports that Iraq may soon resume oil exports via Kurdistan, which will add 230,000 barrels per day to the global supply. This could exacerbate the already volatile oil market, especially as geopolitical tensions in Russia and the Middle East continue to add uncertainty.
At the same time, Iraq’s decision to increase oil exports under an OPEC+ agreement is likely to contribute to the global supply glut, putting additional downward pressure on crude prices. While some analysts predict further declines, others are watching the geopolitical situation closely, as tensions in Russia and West Asia could further disrupt oil flows.
Conclusion
The Indian stock market faced a turbulent session on 25th September 2025, with both benchmark indices ending in the red. A sharp pullback in the final hour of trading, coupled with broad-based sectoral declines, created a challenging environment for investors. The IT sector, in particular, continues to struggle amid concerns over US visa policy changes, while the broader market faces pressure from weak foreign investor sentiment.
Despite these challenges, there are pockets of optimism, with Accenture’s strong performance in AI services and Jefferies’ positive outlook for the Nifty offering some hope for a potential rebound by year-end. However, market participants must brace for further volatility in the coming months, as external factors such as geopolitical risks and changes in visa policies continue to weigh on market sentiment.
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