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Nifty traded at 25,115 (-87 points) and Sensex at 81,873 (-287 points), while the auto sector outperformed with a 1.5% rally.
Maruti Suzuki share price hit a 52-week high after 30,000 bookings and 80,000 enquiries on Navratri’s first day, signaling strong festive demand.
Indian Rupee touched a record low at 88.49 against the dollar, highlighting macroeconomic pressure despite sectoral resilience.
The Indian stock market today, on September 23, 2025, showed mixed emotions, with benchmark indices trading in the red despite strong sectoral performances. Nifty 50 declined by 87.25 points to settle at 25,115.10 with a 0.35% drop. Meanwhile, Sensex fell 286.60 points to 81,873.37, down 0.35%. The broader market sentiment remained cautious, with the BSE Smallcap index declining 0.45% to 53,991.89.
Foreign institutional investors (FIIs) continued their selling spree, offloading Rs. 2,910.09 crore worth of equities on September 22. At the same time, domestic institutional investors (DIIs) provided support by buying Rs. 2,582.63 crore worth of stocks. The India volatility index (India VIX) increased by 2%, reflecting heightened market volatility. Let’s take a closer look at how different stocks performed today based on Moneycontrol Live Updates.
The standout performer in the stock market today was the automotive sector, with Nifty Auto index surging nearly 1.5% despite broader market weakness. This rally was primarily driven by festive demand during the ongoing Navratri season, which began on September 22.
Maruti Suzuki share price was the top gainer on Nifty 50, climbing 1.66% to Rs. 16,079 and hitting a fresh 52-week high of Rs. 16,321. The company reported exceptional first-day festive sales with approximately 30,000 bookings and 80,000 enquiries on the inaugural day of Navratri. Goldman Sachs further boosted investor confidence by upgrading Maruti to 'Buy' from 'Neutral' with a target price of Rs. 18,900.
Hyundai Motor India also reported 11,000 dealer billings on September 22, its best single-day performance in five years. Tata Motors shares registered 10,000 deliveries and over 25,000 enquiries on the first day of festivities.
Other automotive stocks that contributed to the rally included Eicher Motors (up 1.52%), Bajaj Auto, TVS Motor, and Bharat Forge. Ancillary players like Motherson Sumi and Bharat Forge have gained 10-15% over the past 30 days, expecting spillover benefits from the key automotive companies' strong performance.
Also Read: TCS Share Price Declines 2.75% to Rs. 3,082 Following US H-1B Visa Fee Surge
Indian rupee's decline hits an all-time low of 88.4950 against the US dollar. The domestic currency opened 10 paise lower, pressured by weak Asian currencies and a firm dollar. This currency weakness adds to the challenges facing the domestic equity markets, particularly for import-dependent sectors.
Financial services stocks provided some support to the markets, with Bajaj Finance leading Nifty 50 gainers at 2.09%. It was followed by Bajaj Finserv (1.04%) and Shriram Finance (1.00%). However, the IT sector faced pressures with Nifty IT index declining 0.77%.
Emkay Global Financial Services gained attention after Kirti Doshi acquired over 21% stake through Antique Securities, investing Rs. 227.5 crore. The stock surged following this development, as reported by The Economic Times.
Trent led the losers on Nifty 50 with a 1.90% decline, followed by UltraTech Cement (-1.89%) and Tech Mahindra (-1.69%). Consumer goods stocks like HUL and Nestle followed suit.
According to Business Today, ACME Solar Holdings secured Rs. 1,100 crore refinancing from SBI for its renewable energy project. At the same time, Rail Vikas Nigam emerged as the lowest bidder for a Rs. 145.3 crore project from Southern Railway as per a Mint report.
CNBC TV18 reported that Alkem Laboratories announced the launch of Pertuza injection, a pertuzumab biosimilar for HER2-positive breast cancer treatment in India. Vikran Engineering reported strong Q1 results according to Mint. Its profit grew 31.7% to Rs. 5.65 crore, and revenue increased 17% to Rs. 159.2 crore.
Also Read: Top Indian Firms’ Market Valuation Jumps Rs. 1.18 Lakh Crore: SBI and Reliance Industries Lead Gains
The stock market today suggests selective optimism amid broader caution. Brokerage firms remain bullish on the automotive sector's medium-term prospects, with Nuvama indicating the passenger vehicle upcycle could continue until FY29. The festive season demand, coupled with GST benefits and anticipated government policy support, provides a positive backdrop for automotive stocks. However, currency headwinds and global uncertainty continue to weigh on overall market sentiment, requiring investors to maintain a selective approach in their investment strategies.
1. Why did the stock market decline today despite strong auto sector gains?
The market declined because of heavy foreign institutional investor (FII) selling, rupee weakness, and global uncertainty overshadowed sectoral strength. While autos rallied, broader indices fell as IT, cement, and consumer stocks faced pressure.
2. What drove the surge in auto stocks today?
Auto stocks rallied on robust festive season demand, with Maruti, Tata, and Hyundai reporting record bookings and enquiries. Analysts also expect this momentum to extend into FY29, supported by GST benefits and policy measures.
3. How did foreign and domestic investors trade in today’s session?
FIIs sold equities worth Rs. 2,910 crore, continuing their recent selling trend. However, DIIs countered with Rs. 2,583 crore in purchases, preventing a deeper market slide and showing confidence in India’s medium-term growth outlook.
4. What impact did the rupee’s record low have on markets?
The rupee’s fall to 88.49 against the dollar increased concerns for import-heavy sectors like oil, technology, and consumer goods. This currency weakness heightened volatility and added pressure to already cautious investor sentiment.
5. What is the outlook for the Indian stock market in the coming weeks?
Experts see selective optimism, especially in autos and financials, due to festive demand and policy support. However, rupee weakness, global market trends, and FII activity could continue weighing on overall sentiment.
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