Stock Market 23 September: Nifty, Sensex End Slightly Negative Amid Volatile Trade

Table of Contents

Introduction

The Stock Market 23 September session was a roller-coaster ride for investors, filled with sharp swings and shifting sentiment. Markets opened the day on a flat note, reflecting cautious investor behavior amid weak global cues and concerns over foreign institutional investors’ (FIIs) selling pressure. However, as the session progressed, bearish undertones started to dominate, and indices slipped into the red during the first half.

Interestingly, the second half of the trading session witnessed a strong wave of buying, particularly in banking and select PSU stocks, leading to a sharp recovery. Nifty and Sensex clawed back most of their early losses and even turned positive briefly. But by the closing bell, markets once again lost steam, finishing slightly in the red. This highlights the ongoing volatility in the Indian stock market, driven by sectoral divergences, global uncertainties, and stock-specific movements.

While Nifty 50 ended just 29 points lower, and Sensex lost a mere 10 points, the day’s trend underlined one key theme — volatility is here to stay, and smart sectoral play is making all the difference for traders and investors.

Index Performance on Stock Market 23 September

The benchmark indices ended with mild cuts after recovering most intraday losses. Here’s how the key indices performed:

Index	Closing Level	Change	% Change
NIFTY 50	25,172.70	-29.65	-0.12%
SENSEX	82,149.72	-10.25	-0.012%
Nifty Bank	55,554.45	+269.70	+0.49%
Nifty IT	35,299.95	-200.20	-0.56%
S&P BSE SmallCap	54,043.82	-189.81	-0.35%

The Nifty Bank stood out as the star performer with nearly half-a-percent gains, while IT and small-cap indices dragged the market lower.

Top Gainers on Stock Market 23 September

Tata Investment – The stock surged 11.77% to ₹8138, hitting a 52-week high on news of a possible stock split. Heavy volumes underlined the bullish sentiment.
Gujarat Mineral – Jumped 11.01% to ₹627.4, buoyed by strong sectoral performance and renewed optimism in the mining industry.
NLC – Climbed 4.48% to ₹276.09, continuing its upward momentum as power and energy stocks remained in focus.
Deepak Fertilisers – Added 4.47% to ₹1518.6 on positive sector outlook and strong institutional buying.
Vodafone Idea – Rose 3.93% to ₹8.72 amid hopes of improved financial stability following relief expectations in AGR dues.

Top Losers on Stock Market 23 September

Adani Total Gas – Fell sharply by 7.4% to ₹722.95, as profit-booking hit the stock after its recent rally.
LT Foods – Dropped 5.86% to ₹429.9 on heavy volumes, suggesting institutional profit booking.
Adani Power – Slipped 4.64% to ₹162.35, despite its stock split news, as traders locked in recent gains.
Sammaan Capital – Declined 4.35% to ₹135.02, pressured by weak sentiment in financial services names.
AWL Agri Business – Corrected 4.06% to ₹260.1, impacted by concerns over global agri-commodity price movements.

Summary Table of Top Gainers & Losers – Stock Market 23 September

Top Gainers	% Change	LTP	Top Losers	% Change	LTP
Tata Investment	+11.77%	₹8138	Adani Total Gas	-7.4%	₹722.95
Gujarat Mineral	+11.01%	₹627.4	LT Foods	-5.86%	₹429.9
NLC	+4.48%	₹276.09	Adani Power	-4.64%	₹162.35
Deepak Fertilisers	+4.47%	₹1518.6	Sammaan Capital	-4.35%	₹135.02
Vodafone Idea	+3.93%	₹8.72	AWL Agri Business	-4.06%	₹260.1

Why Did the Stock Market Fall on 23 September?

The Stock Market 23 September ended in mild weakness, but the story behind the numbers reveals a tale of strong volatility and mixed triggers. Here are the key reasons:

Global Market Jitters
U.S. H-1B Visa Fee Hike — This has raised concerns in the Indian IT outsourcing sector which relies heavily on visa access. It increases costs, impacts margin expectations, and dampens sentiment in IT stocks.

IT Sector Drag
The Nifty IT index was one of the biggest drags of the day, falling by nearly 200 points (-0.56%). Heavyweights like Zensar Technologies, Mphasis, and LTIMindtree witnessed selling pressure, fueled by weak global demand outlook for IT services and currency fluctuation worries.

Profit Booking in Mid & Small Caps
The S&P BSE SmallCap index slipped 0.35% as investors booked profits after last week’s rally. High valuations in mid- and small-cap counters triggered selling pressure.

Adani Group Volatility
Adani stocks once again became a major theme. While Adani Total Gas and Adani Power faced sharp declines, Adani Green and Adani Energy in earlier sessions had shown strength. This back-and-forth created sectoral choppiness.

Strong Banking Support But Not Enough
Nifty Bank stood out as the positive sector (+0.49%) thanks to buying in frontline banks. However, its gains could not fully offset losses in IT and select large-cap stocks, keeping the benchmark indices under pressure.

In short, while the recovery during the second half of the day was impressive, the market could not hold on to gains because of profit booking in IT, small caps, and stock-specific volatility.

Conclusion: Stock Market 23 September

The Stock Market 23 September session highlighted the ongoing tug-of-war between bulls and bears. While the second-half recovery showcased underlying strength in selective pockets like banking and investments, persistent weakness in IT, small-caps, and select heavyweights pulled the market slightly lower.

For investors, the key takeaway is that markets remain highly sensitive to both global cues and domestic profit-booking trends. Volatility is expected to continue, with sector rotation playing a major role in market direction. Short-term traders may need to stay cautious, while long-term investors can use such dips to accumulate quality stocks selectively.