Stock Market 20 September: IT Crash Hits Nifty, Adani Stocks Soar 20%

Table of Contents

Introduction

The Stock Market 20 September closed on a weak note as both benchmark indices — Nifty and Sensex — slipped under pressure from the IT sector. Despite strong momentum in select heavyweight stocks, particularly from the Adani Group, the overall market mood remained cautious.

The day saw a tale of two markets: on one side, Nifty IT plunged nearly 3%, weighing down the benchmarks, while on the other, Adani stocks hit fresh highs, locking in upper circuits with massive investor interest. The contrast highlighted the current sectoral rotation within the Indian equity market.

In this blog, we break down how indices performed, which stocks gained and lost, and why the market ended in the red on Stock Market 20 September.

Index Performance on Stock Market 20 September

The Indian equity market saw across-the-board selling in frontline IT counters, with ripple effects on broader indices. Banking and smallcap segments also closed weak but managed to limit losses compared to IT.

Index	Closing	Change	% Change
NIFTY 50	25,204.85	-122.20	-0.48%
SENSEX	82,190.92	-435.31	-0.53%
Nifty Bank	55,287.25	-171.60	-0.31%
Nifty IT	35,521.85	-1,056.40	-2.89%
S&P BSE SmallCap	54,243.04	-379.00	-0.69%

Key Highlight: The spotlight was on Nifty IT, which cracked below 36,000 due to global headwinds, visa policy changes in the U.S., and heavy foreign selling. This single sector accounted for most of the benchmark weakness on Stock Market 20 September.

Top Gainers on Stock Market 20 September

While the benchmarks looked weak, the Adani Group scripted a remarkable rally, driven by favorable news flow and investor appetite.

Adani Power – Jumped 20% to ₹170.25 after SEBI’s clearance for its stock split. The move triggered massive buying interest, taking the stock to a fresh 52-week high on heavy volumes.
Adani Total Gas – Spiked 19.99% to ₹781.7, also hitting upper circuit. Analysts highlighted strong accumulation by institutions amid energy sector tailwinds.
Adani Green Energy – Advanced 11.87% to ₹1153, backed by investor optimism around renewable energy, making it one of the top-performing green stocks in the index.
Netweb Technologies – Climbed 7.64% to ₹3530 after bagging a major order win, propelling the stock to a 10-year high. Strong delivery volumes supported the move.
Adani Energy – Gained 6.52% to ₹934.3, reinforcing the broad-based Adani rally, as the group continues to attract renewed institutional interest.

Takeaway: The Adani stocks not only provided support to the broader market but also highlighted pockets of strength even in a weak market environment.

Top Losers on Stock Market 20 September

The losers were dominated by IT names, reflecting the sector-wide stress.

Zensar Technologies – Slipped 5.87% to ₹807.4 after reports of insider trades, sparking heavy selling.
KFIN Technologies – Dropped 5.21% to ₹1090, dragged by profit booking and weak sectoral sentiment.
Mphasis – Declined 4.7% to ₹2853, with analysts citing pressure on outsourcing revenues post U.S. visa fee hikes.
LTIMindtree – Lost 4.6% to ₹5256, hurt by global macro concerns and fears of slower client spending.
Alivus Life Sciences – Corrected 4.54% to ₹999.9, dragged by heavy selling after a recent strong rally.

Takeaway: IT weakness clearly dominated the loser’s list, underlining that Stock Market 20 September was largely a tech-driven fall.

Summary Table – Top Gainers & Losers

Top Gainers	% Change	Price (₹)	Top Losers	% Change	Price (₹)
Adani Power	+20%	170.25	Zensar Technologies	-5.87%	807.4
Adani Total Gas	+19.99%	781.7	KFIN Technologies	-5.21%	1090
Adani Green Energy	+11.87%	1153	Mphasis	-4.7%	2853
Netweb Technologies	+7.64%	3530	LTIMindtree	-4.6%	5256
Adani Energy	+6.52%	934.3	Alivus Life Sciences	-4.54%	999.9

Why Did the Stock Market Fall on 20 September?

Several macro and sector-specific triggers combined to drag markets lower:

IT Sector Drag: The steepest fall came from the IT pack, where Nifty IT collapsed by nearly 3%. This followed the U.S. move to hike H-1B visa fees to $100,000, which is expected to hurt Indian IT companies that rely heavily on skilled workforce deployment in the U.S.
FPI Selling Pressure: Foreign investors continued to offload Indian equities, particularly in the tech and financial sectors. Persistent outflows have added to near-term volatility.
Weak Global Sentiment: Global equity markets were under pressure due to renewed uncertainty around U.S. interest rates and oil price volatility. Indian markets mirrored the cautious trend.
Rupee Weakness: The Indian rupee slipped against the U.S. dollar, making imports costlier and fueling concerns of imported inflation, which spooked traders.
Profit Booking in Broader Markets: After a sustained rally in midcap and smallcap indices, investors engaged in profit booking, further deepening market losses.

In essence, the Stock Market 20 September fall was not about a broad economic slowdown but rather a sector-specific correction led by IT, compounded by global uncertainties.

Conclusion: Stock Market 20 September

The Stock Market 20 September painted a mixed picture — benchmarks weakened due to IT sector drag, but Adani stocks delivered extraordinary gains, showing how selective stock moves can still create wealth.

Going forward, markets are likely to remain range-bound with a cautious undertone, given the FPI selling trend and global headwinds. However, opportunities remain in energy, renewables, and power sectors, as seen in today’s rally.

For investors, the key lesson is to stay selective and focus on sectors that are structurally strong. While short-term volatility may persist, the long-term growth story of Indian equities remains intact.