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• Equity benchmark indices started the week on a positive note, with the Nifty gaining around half a percent to close above the 23,400 level, supported by a decline in crude oil prices below $102/bbl, softer US bond yields, and gains across global equity markets. On the domestic front, market sentiment was further supported by Moody’s upward revision of India’s FY27 GDP growth forecast to 7% from 6%, along with robust net direct tax collections, which rose 13% to over ?12.12 lakh crore as of September 17, driven by healthy corporate tax collections and steady advance-tax payments.

• The Nifty 50 advanced 104 points, or 0.45%, to close at 23,414, compared with the previous session’s close. Sectorally, Nifty Pharma, Realty, and FMCG indices gained more than 1% each, while the Nifty Defence index rose 0.8%. The Nifty 500 advance-decline ratio stood at 1:1.5, indicating that buying interest was largely concentrated in large-cap stocks, while profit booking was witnessed at higher levels in the mid- and small-cap segments.

• In global markets, both Asian and European equities gained around 1% each as easing crude oil and gas prices helped reduce concerns over inflation. Optimism ahead of the upcoming China-US summit also contributed to the improvement in global investor sentiment.

Technical Outlook:

• Nifty index opened on a flattish note and remained in a sideways to positive trend throughout the session. The index has been making higher highs - higher lows from the last four sessions as buyers continued to absorb dips and defend lower levels. It formed a bullish candle on the daily frame indicating support based buying at lower levels. Now if it holds above 23400 zones then upside could be seen towards 23550 then 23650 zones while support can be seen at 23300 then 23200 zones.

• S&P BSE Sensex index opened on a positive note and witnessed buying interest on small dips. Momentum remained slow but bulls managed to hold their gains for most part of the session. It formed a bullish candle on the daily chart and closed the session above its hurdle zones of 74500 zones with gains of around 560 points. Now it has to hold above 74700 zones for a bounce towards 75000 then 75300 levels while on the downside support is seen at 74500 then 74300 zones.

Derivative Outlook:

• Nifty future closed positive with gains of 0.31% at 23450 levels. Positive setup seen in LIC Housing, Laurus, Policy Bazaar, Eternal, Torrent Pharma, DLF, CG Power and Indian Hotel while weakness seen in UPL, Bharti Airtel, BSE, Vedanta, IREDA, Tata Power, Waaree Energies, Havells, JSW Energy and RVNL.

• On option front, Maximum Call OI is at 23500 then 23400 strike while Maximum Put OI is at 23400 then 23300 strike. Call writing is seen at 23500 then 23450 strike while Put writing is seen at 23400 then 23450 strike. Option data suggests a broader trading range in between 23000 to 23800 zones while an immediate range between 23200 to 23600 levels.

• Dilip Bulidcon – Company has been picked as the successful bidder for a Rs1265cr switching station project by REC Power Development.

• Marine Electricals Opens Goa Factory Targeting 800 Power Train Units Annually By March 2027 – Company has inaugurated its sixth manufacturing facility in Goa, built to produce Power Train Units and port power systems. Targeting an annual manufacturing capacity of 800 units for data centers by March 2027, the factory strengthens the company's critical infrastructure execution pipeline which is backed by a robust order book.

• Jaiprakash Power Ventures: The company and NARCL have agreed to settle claims related to insolvency proceedings; the company will pay a full and final settlement amount of Rs. 511 crore, following which the IBC proceedings will be withdrawn.

• Cohance Lifesciences – The US FDA issued five observations under Form 483 after inspecting Cohance Lifesciences’ Andhra Pradesh facility from September 14 to 19.

• Apollo Pipes: Arm Apollo Ceramics acquires a 76% stake in Mazzini Tiles for Rs. 40.4 crore; enters ceramic tiles sector through Mazzini Tiles.

• Shriram Finance – Board approved the purchase of notes worth up to $460 million issued under its Global Medium Term Note programme.

• Diamond Power – Company has received an order worth Rs110 crore from Polite Powertech.

• Puravankara Plans 2,200-Unit Kerala Project – Puravankara plans to launch a project with about 2,200 units in Kerala, Mallanna Sasalu said. The company has a presence in Chennai and Kochi. Pre-sales at its new Bengaluru project stand at Rs 1,000 crore. The project is expected to be completed in the next two-and-a-half years. Global Market Update

• European Market – European shares gained as cooling oil and gas prices eased inflation concerns, while optimism ahead of this week’s China-US summit also lifted sentiment. UK, Germany and France Index gained nearly 1% each.

• Asian Market – Asian stock markets mostly rose on Monday, boosted by global demand for artificial intelligence technology and positive signals from trade talks over the weekend between Chinese and US officials. Taiwan, South Korea, Hong Kong and China Index gained 1% each. Japan Market closed today.

• .US Data – Chicago Fad Nat Activity Index.

• Commodity – Oil prices fell 2% to below $102/bbl for a fourth consecutive session Monday as improving flows through the Strait of Hormuz and prospects for renewed diplomacy over the Iran conflict eased immediate supply concerns.

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