The frontline benchmarks traded with modest losses in the mid-morning trade after the U.S President Donald Trump announced a 100% tariff on branded drug imports starting from 1 Oct 2025, pressuring pharma stocks despite generics being exempt. The Nifty slipped below the 24,800 mark, while IT stocks extended losses for the sixth consecutive trading session.
At 11:27 IST, the barometer index, the S&P BSE Sensex, slipped 392.72 points or 0.48% to 80,783.34. The Nifty 50 index lost 123.05 points or 0.49% to 24,767.85.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.05% and the S&P BSE Small-Cap index tumbled 1.33%.
The market breadth was weak. On the BSE, 1,091 shares rose and 2,739 shares fell. A total of 182 shares were unchanged.
IPO Update:
Pace Digitek received bids for 9,48,736 shares as against 2,76,06,555 shares on offer, according to stock exchange data at 11:15 IST on Friday (26 September 2025). The issue was subscribed 0.03 times.
The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 115 and Rs 121 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.
Jinkushal Industries received bids for 2,13,67,440 shares as against 67,21,048 shares on offer, according to stock exchange data at 11:15 IST on Friday (26 September 2025). The issue was subscribed 3.18 times.
The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 115 and Rs 121 per share. An investor can bid for a minimum of 120 equity shares and in multiples thereof.
TruAlt Bioenergy received bids for 68,74,920 shares as against 1,23,55,424 shares on offer, according to stock exchange data at 11:15 IST on Friday (26 September 2025). The issue was subscribed 0.56 times.
The issue opened for bidding on Thursday (25 September 2025) and it will close on Monday (29 September 2025). The price band of the IPO is fixed between Rs 472 and Rs 496 per share. An investor can bid for a minimum of 30 equity shares and in multiples thereof.
BMW Ventures received bids for 83,25,838 shares as against 2,34,00,000 shares on offer, according to stock exchange data at 11:15 IST on Friday (26 September 2025). The issue was subscribed 0.36 times.
The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 94 and Rs 99 per share. An investor can bid for a minimum of 151 equity shares and in multiples thereof.
Epack Prefab Technologies received bids for 1,42,79,749 shares as against 1,76,70,103 shares on offer, according to stock exchange data at 11:15 IST on Friday (26 September 2025). The issue was subscribed 0.81 times.
The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 194 and Rs 204 per share. An investor can bid for a minimum of 73 equity shares and in multiples thereof.
Jain Resource Recycling received bids for 4,67,96,224 shares as against 3,12,49,999 shares on offer, according to stock exchange data at 11:15 IST on Friday (26 September 2025). The issue was subscribed 1.50 times.
The issue opened for bidding on Wednesday (24 September 2025) and it will close on Friday (26 September 2025). The price band of the IPO is fixed between Rs 220 and Rs 232 per share. An investor can bid for a minimum of 64 equity shares and in multiples thereof.
Buzzing Index:
The Nifty IT index fell 1.41% to 34,060.05. The index dropped 4.53% in the six consecutive trading sessions.
Oracle Financial Services Software (down 2.45%), Wipro (down 1.89%), LTIMindtree (down 1.85%), Infosys (down 1.39%), HCL Technologies (down 1.36%), Coforge (down 1.34%), Tech Mahindra (down 1.21%), Tata Consultancy Services (down 1.12%), Mphasis (down 0.86%) and Persistent Systems (down 0.69%) declined.
Stocks in Spotlight:
RailTel Corporation of India has secured a significant domestic contract worth approximately Rs 970.08 crore from the State Project Director, Bihar Education Project Council (BEPC).
Waaree Energies has incorporated a step-down subsidiary, Waaree Forever Energies Three, for undertaking power projects.
Global Markets:
Most Asian market declined on Friday, led by sharp losses in pharmaceutical stocks after U.S. President Donald Trump announced sweeping new tariffs. Sentiment was further pressured as traders scaled back expectations of aggressive Federal Reserve rate cuts following stronger-than-expected U.S. economic data.
Trump revealed that the U.S. will impose 100% tariffs on imported branded drugs, 25% on heavy-duty trucks, 50% on kitchen cabinets, 50% on bathroom vanities, and 30% on upholstered furniture. The duties are set to take effect on October 1.
On Wall Street, technology stocks extended their pullback for a third consecutive session, weighed down by rising Treasury yields. The S&P 500 slipped 0.50% to 6,604.72, the Nasdaq Composite lost 0.55% to close at 22,384.70, and the Dow Jones Industrial Average fell 0.38% to 45,947.32. The 10-year Treasury yield climbed to 4.2% after jobless claims data came in lower than expected.
Separately, Trump signed an executive order approving a $14 billion proposal to keep TikTok operational in the U.S., according to Vice President JD Vance. The plan, which still requires Beijing’s approval, calls for a new joint venture to manage TikTok’s U.S. operations, with ByteDance retaining a stake of less than 20%.