September 22nd  to September 26th 2025.

 

Nifty receives massive drubbing as Nifty IT index and Nifty Pharma index take it on the chin.

 

The negative takeaway was that Nifty’s losses worsened as the day went on, and most importantly, the benchmark ended on a jittery note. 

 

 

 

[President Trump said his administration will impose a 100% tariff on branded and patented pharmaceuticals from October 1, 2025, unless companies set up U.S. production.]

 

 

# Amidst this backdrop, India VIX zoomed 14.62% higher to end at 11.43.

 

# The pessimism at Dalal Street was compounded by persistent foreign portfolio investor outflows. Last week, the FIIs have net sold to the tune of Rs. 19570.10 Cr. In the month of September, FIIs have already net sold to the tune of Rs 30142.80 Cr. This FY26, FIIs selling has already sold to the tune of Rs. 104301.70 Cr.

 

# Long story short: Trump’s tariff moves are shaking already fragile investor sentiment at Dalal Street.

 

Dalal Street is feeling the heat from Trump’s Tariffs — Pharma Stocks and IT stocks shall continue to brace for turbulent times ahead. Caution shall continue to be the buzzword.

 

Weekly Recap:

Instruments	LTP	Weekly % Change
Nifty	24655	(-2.65%)
Sensex	80426	(-2.66%)
Bank Nifty	54809	(-1.93%)
Nifty Midcap	15443	(-5.71%)
India VIX	14.62	+14.62%
Dow Jones	46096	(-0.45%)
Nasdaq	24335	(-1.21%)
Bovespa	14555	(-0.25%)
Crude Oil	66.01	+5.80%
Gold	3780	+2.51%
Silver	45.70	+5.96%
USD/INR	88.73	+0.72%

 

 

1) Nifty plunged 2.65% lower and the negative takeaway was that Nifty is now below its 21 DMA (24949), 50 DMA (24865) and its 100 DMA (24932).

 

Nifty bears will now aim Nifty 200-DMA which is placed at 24162 mark.

 

2) Bank Nifty (-1.93%) mostly mirrored Nifty declines and the negative takeaway was that its technical landscape is now seen deteriorating and appears bit ugly. Bank Nifty is too trading way below its 21-DMA (54666), 50-DMA (55305) and 100-DMA (55682) level.

 

Bank Nifty bears will now aim its 200-DMA at 53194 mark.

 

3) Nifty Private Bank index dropped 1.79% lower while Nifty PSU Bank index plunged 1.84%.

 

4) The broader markets too fell miserably with Nifty Mid-cap 50 index falling 5.71% while the Nifty Small-cap index gained 5.10%.

 

Nifty IT (-7.86%)

Nifty Reality (-6.10%)

Nifty Pharma (-5.20%)

Nifty Media (-2.72%)

Nifty Auto (-2.70%)

Nifty Energy (-2.56%)

Nifty FMCG  (-2.53%)

Nifty Infra (-2.14%)

Nifty PSE Index (-2.13%) 

Nifty Oil & Gas (-1.77%)

Nifty Metal  (-1.02%)

 

 

NONE

 

 

1) Glenmark Pharmaceuticals (-5.44%) tumbled despite the company announcing that its arm, Glenmark Specialty, entered into an exclusive licensing agreement with Hengrui Pharma for Trastuzumab Rezetecan (SHR-A1811), a HER2-targeting antibody drug conjugate.

 

2) Lupin (-6.61%) plunged despite the company announced that it has received tentative approval from the USFDA for Bictegravir, Emtricitabine & Tenofovir Alafenamide Tablets, used for treating human immunodeficiency virus (HIV) infection in adults.

 

3) Tata Motors (-4.88%) tumbled on reports said Jaguar Land Rover (JLR), its UK-based luxury car subsidiary, will keep its factories closed until October 1. 

 

4) Hindustan Aeronautics Ltd (HAL)  (-3.66%) fell despite reports that Government has inked pact with HAL for procurement of 97 Tejas jets for IAF

 

The Defence Ministry sealed a ₹62,370 crore deal with the HAL to procure 97 Tejas light combat aircraft for the Indian Air Force.

1) Tata Motors (-2.62%) tumbled on reports said Jaguar Land Rover (JLR), its UK-based luxury car subsidiary, will keep its factories closed until October 1. 

 

(The shutdown follows a cyberattack on 31 August 2025 that has crippled JLR's IT systems and brought production to a halt. The incident, widely believed to be a ransomware assault, has disrupted operations not only in the UK but also at facilities in China, Slovakia, Brazil and India. Losses are estimated at 50 million pounds ($68 million) a week).

 

5) Minda Corporation (+4.01%) zoomed higher after the company’s bold new growth blueprint, dubbed Vision 2030. 

 

(The company’s strategy is to scale revenue from Rs 5,056 crore in FY25 to over Rs 17,500 crore by FY30 while keeping debt under tight control. Management also reaffirmed its commitment to improving margins with a target EBITDA of more than 12.5%. Exports are projected to soar from Rs 420 crore in FY25 to more than Rs 1,500 crore by FY30, implying a compounded annual growth rate of 37%).

 

6) Larsen & Toubro (L&T) (+1.47%) was in limelight after the company said that it has formed a strategic partnership with Bharat Electronics (BEL) to support Advanced Medium Combat Aircraft (AMCA) programme of the Indian Air Force.

 

7) Bajaj Electricals (-7.86%) tumbled on reports that the company’s board has approved a proposal for the acquisition of 'Morphy Richards’ brand and related intellectual property rights for five territories. 

 

The 'Morphy Richards’ brand rights are being acquired from Glen Electric, which is a part of the Ireland-based Glen Dimplex Group. 

 

8) Refex Industries (+7.23%) rebounded sharply higher after the company's board approved a composite scheme of arrangement aimed at unlocking value from its green mobility business.

 

9) Zydus Lifesciences (-6.01%)was seen consolidating with slight negative bias in Monday’s trade after the company announced that it has received the establishment inspection report (EIR) from US Food and Drug Administration (USFDA) for GMP follow-up inspection conducted at its oncology injectable facility located at SEZ1, Ahmedabad.

 

10) Netweb Technologies India (+12.69%) gained and scaled further into uncharted territory  after the company announced that it has secured a purchase order valued at approximately Rs 450 crore for the supply and deployment of its advanced Tyrone AI GPU-accelerated systems.

 

11) Vodafone-Idea tanked -4.52% after the SC deferred the AGR to October 6.

 

 

MARUTI SUZUKI (+2.66%)

AXIS BANK (+1.59%)

LARSEN (+1.47%)

EICHER MOTORS (+1.05%)

ADANI ENTERPRISES (+0.78%)

 

TECH MAHINDRA (-9.4%)

TCS (-8.52%)

TRENT (-7.89%)

WIPRO (-7.87%)

JIO FINANCIAL (-6.67%)

 

 

 

# Before we get into detail, the good news which should cheer investors: 

 

# Investors are likely to welcome the latest US PCE report which showed inflationary pressures in the US remained stable. The data came in line with forecasts, with core inflation holding steady and headline PCE inflation posting a slight uptick. The results reinforced expectations that the Fed has room to cut rates further this year, with markets pricing in another move in the coming months

 

Hurting sentiments would however be WTI crude oil futures which have now spiked towards $66 a barrel, hovering near a three-week high, as conflict-related pressures on Russian oil spurred supply concerns. 

 

US President Donald Trump urged Turkish President Recep Tayyip Erdogan to halt oil imports from Russia to increase constraints on Moscow amid the Ukraine conflict. 

 

#  That said, hurting sentiments will be the fact that in the coming quarters the Indian economy could see impact of punitive US 50% tariffs and a whopping 100% tariff on all branded & patented drugs.

 

# Also note, the Indian rupee has dropped to record lows, breaching the 88.70-per-dollar mark over concerns that steep U.S. tariffs could hurt growth and further hit portfolio flows.

 

# Nifty’s technical view: The interweek/intermonth risk is on the downside with immediate support seen at Nifty’s 200 DMA at 24162 mark.

 

On the upside, Nifty will face major inter-month hurdles at 25251 mark and then all eyes will be at 25670 mark (high as on June 30th).

 

# Bottom-line: No signs of any massive recovery for benchmark Nifty amidst fragile bullish sentiments. 

 

 

 

 

 

 

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