Indian benchmark stock indices, the Sensex and Nifty, recorded their third straight day of declines on Tuesday, September 23, 2025. This downturn was characterized by volatile trading, primarily due to intense selling pressure in IT and leading private banking shares. The markets were also weighed down by significant outflows from foreign funds and mounting anxieties surrounding a substantial increase in U.S. H-1B visa fees.
Throughout the day, the 30-share BSE Sensex experienced considerable fluctuation, alternating between periods of gains and losses. Ultimately, it settled 57.87 points lower, marking a 0.07% decrease to close at 82,102.10. Intraday trading saw the index swing by 593.85 points, reaching a peak of 82,370.38 and a low of 81,776.53.
Similarly, the broader 50-share NSE Nifty index also closed in the red, shedding 32.85 points (0.13%) to finish at 25,169.50.
Market analysts noted that some of the day’s losses were mitigated by buying activity in the automotive sector and specific public sector banks.
Among the Sensex constituents, key underperformers included Trent, Tech Mahindra, Hindustan Unilever, UltraTech Cement, Asian Paints, Eternal, and ITC. Heavy selling pressure on prominent private lenders like HDFC Bank and ICICI Bank further contributed to the downward pull on the main indices.
Conversely, shares of Axis Bank, Bajaj Finance, Maruti, and State Bank of India managed to register gains, offering some support.
Vinod Nair, Head of Research at Geojit Investments Ltd, commented on the market’s performance, stating, ‘The domestic equity market largely traded within a narrow range and concluded the day relatively flat, suggesting a continuation of the consolidation phase. Overall market sentiment remained cautious, with small- and mid-cap stocks notably trailing behind the benchmark indices.’
Nair further elaborated that sector-wise, auto, metal, and financial stocks saw gains, bolstered by expectations of strong festive demand following recent GST reductions. In contrast, Fast-Moving Consumer Goods (FMCG) and real estate shares faced pressure due to profit-booking activities.
Exchange data revealed that Foreign Institutional Investors (FIIs) were net sellers on Monday, September 22, 2025, divesting equities valued at a substantial ₹2,910.09 crore.
Across Asian markets, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index closed lower. However, South Korea’s Kospi managed to end the day with gains. Meanwhile, Japanese equity markets were closed for a public holiday.
European markets were trading positively, building on the gains seen in U.S. markets which closed higher on Monday.
Adding to the market’s woes, the Indian Rupee depreciated significantly on Tuesday, falling by 52 paise to reach a new all-time low of 88.82 against the U.S. dollar during intra-day trading. This sharp decline was attributed to the continued outflow of foreign funds.
In commodity markets, the global oil benchmark, Brent crude, saw a modest increase of 0.45%, reaching $66.87 per barrel.
The previous trading day, Monday, had already seen the Sensex fall by 466.26 points (0.56%) to close at 82,159.97, while the Nifty registered a decline of 124.70 points (0.49%), settling at 25,202.35.