Stock Market Today: Nifty at Rs. 25,108, Sensex Around Rs. 81,706

Rupee hits record low, FPIs pull out big money, and volatility grips Dalal Street

The Indian stock market is trading under pressure today as both global and domestic concerns weigh on investor sentiment. The benchmark indices opened in negative territory, with the Nifty 50 slipping below the 25,100 mark and the Sensex losing close to 250–300 points. At present, the Nifty 50 is hovering around 25,098, down by nearly 0.28 percent, while the Sensex is near 81,852, down by about 0.30 percent. This cautious mood reflects the nervousness in the market, especially after fresh developments in US trade and visa policies that directly impact Indian companies.

The overall market tone remains weak, with fifteen out of sixteen major sectors opening in the red. The IT sector is the worst hit, dragging the benchmarks lower. Concerns are amplified by continued foreign investor outflows, which added up to Rs. 35.51 billion, or nearly $400 million, just on Tuesday. This was the largest single-day selloff in September so far.

Technology Sector Feels the Heat

Technology and IT companies are at the center of today’s decline. The US government has announced higher H-1B visa fees and tighter eligibility rules. Since Indian IT exporters rely heavily on these work visas to send professionals abroad, the news is being interpreted as a direct threat to their margins and business models.

Among individual stocks, Tech Mahindra is one of the worst performers, falling by about 2.15 percent. Other big players like Infosys and TCS are also under pressure, although their losses are slightly smaller. The selloff in IT stocks is sharp enough to weigh heavily on the benchmark indices.

Auto Stocks Offer Some Resilience

While technology shares are tumbling, auto companies are showing relative strength. Maruti Suzuki is among the top gainers, rising by nearly 1.83 percent, supported by robust domestic demand. The auto sector is proving to be more resilient in today’s trading, with some mid-cap and small-cap auto names also holding firm. This indicates that investors continue to back companies that are tied to strong local consumption, even when global headwinds are weighing on other sectors.

Financials and Banking Sector Trends

In the financial space, there is mixed performance. ICICI Bank slipped by around 0.49 percent in the previous session and continues to trade weakly. Other private sector banks are also under mild pressure. However, some public sector banks and niche financial institutions are relatively steady, with investors showing interest in them because of their attractive valuations compared to larger peers. The financial sector, though not as battered as IT, is still struggling to provide positive triggers for the broader market.

Heavyweights and Select Stock Moves

Among heavyweights, Reliance Industries is showing resilience and has largely managed to resist the broader weakness. Its performance is helping to prevent deeper losses for the indices. Meanwhile, analysts are highlighting a few smaller stocks like NLC India and Deepak Fertilisers as showing technical strength, with bullish signals that could attract short-term traders.

In other segments, commodity and energy-linked companies are trading with mixed trends. The volatility in global commodity prices and concerns over input inflation continue to affect investor behavior in these stocks.

External Pressures from US Trade and Visa Policies

Global factors are heavily influencing today’s market mood. The United States has not only raised H-1B visa fees but also introduced a system that favors higher-paid foreign workers, a move that is likely to hurt Indian outsourcing firms. In addition, fresh US import tariffs of up to 50 percent on Indian goods have added to the uncertainty for exporters. These policies together create strong headwinds for Indian businesses dependent on US markets.

Rupee at Record Low

The Indian rupee is also under severe pressure. It touched a record low of about 88.7975 against the US dollar before recovering slightly to around 88.7550. This intraday decline of nearly half a percent adds another layer of stress for the economy. A weaker rupee makes imports costlier, adding to inflation risks, and puts pressure on companies with foreign borrowings or those dependent on imported raw materials.

IPO Market Shows Activity Despite Volatility

Even with such volatility, the Indian capital market remains active in terms of fundraising. JPMorgan has forecast that India’s IPO volumes in 2025 will exceed the levels seen in 2024. So far this year, Indian companies have raised about $8.2 billion through 49 initial public offerings. There are approvals in place for another $13 billion worth of IPOs in the pipeline. This trend shows that investors are still interested in new listings, although the shaky secondary market performance could impact valuations.

Corporate Earnings and Outlook

Market experts note that the wave of earnings downgrades that troubled the market in recent quarters is now starting to ease. Reports from leading brokerages suggest that the worst phase for corporate earnings may be over. If this trend continues, the overall outlook for Nifty stocks could brighten. However, there are still risks from margin pressures, high interest rates, and uncertain global conditions. Any recovery in earnings will depend on stability in the macro environment and favorable government policy support.

Technical Picture of the Market

On the technical side, the Nifty 50 is showing bearish chart patterns. Market charts reveal long lower shadows, which suggest higher intraday volatility and selling pressure. The Nifty faces strong support in the 25,000 to 25,100 range, while the Sensex has critical support levels around 81,500 to 82,000. If these levels are breached, more downside could open up. Resistance on the upside remains capped, with investors unwilling to chase rallies without clarity on global developments.

The Gift Nifty, which often sets the tone for the Indian session, has also been trending weak, adding to the cautious sentiment. Sectoral rotation is evident, with autos and selective financials holding up while IT and export-oriented stocks drag down the market.

Key Risks and Things to Watch

The biggest risk for Indian equities right now comes from US policy. Any further escalation in tariffs or visa restrictions could worsen the situation for exporters and IT companies. The rupee’s persistent weakness is another key factor that could influence corporate profitability and inflation.

Global cues, including the US Federal Reserve’s policy moves, China’s growth numbers, and other international developments, will continue to play a big role in market direction. Domestically, investors will also keep an eye on government policy announcements, reforms, or stimulus measures that could support sentiment.

The IPO market will be another area to watch. The level of oversubscription, pricing strength, and post-listing performance of upcoming issues will indicate whether investor appetite is strong enough to absorb large offerings in a volatile environment.

Final Thoughts

The Indian stock market is currently caught between strong domestic fundamentals in some sectors and mounting external headwinds from global developments. Technology stocks are dragging the indices lower as concerns about US visa rules intensify. Autos and select heavyweights are trying to provide some balance, but the overall market remains weak. The rupee’s record low, combined with heavy foreign investor outflows, is amplifying the stress.

While the IPO market and signs of stabilizing corporate earnings offer some hope, the near-term outlook remains cautious. Until there is greater clarity on US trade and visa policies, as well as stability in currency markets, Indian equities are likely to remain volatile. Investors continue to tread carefully, waiting for the next set of triggers to decide whether the market can recover from this pressure or slip further into correction.