Author: Partha Halder

Dalal Street mounted a resilient late-afternoon comeback on Thursday, September 25, as the BSE Sensex reclaimed 315.20 points to close at 73,895.74 and the Nifty 50 defended the 23,000 threshold to settle at 23,140.50. Bargain hunting in beaten-down financials and RBI intervention in the currency market helped stem losses, though persisting geopolitical frictions in the Strait of Hormuz and elevated US Treasury yields keep traders cautious.

Indian benchmark indices plunged to three-month lows on Thursday, September 24, with the BSE Sensex tumbling 1,247.71 points to 73,580.54 and the Nifty 50 sliding 1.64% to close at 23,063.10. An overseas bond rout that took US 10-year yields to a 19-year peak, combined with crude oil rebounding past $102 and proposed IRDAI caps hammering insurers and banks, triggered broad-based capitulation despite the historic debut of the Rs 22,569-crore NSE IPO.

Dalal Street halted its mid-week slide on Tuesday, September 23, as the BSE Sensex advanced 299.17 points to settle at 74,828.25 and the Nifty 50 climbed 0.50% to reclaim the 23,446 mark. Buoyed by Brent crude retreating below $99, an improved Flash Composite PMI reading of 56.5, and heavy buying across banking and NBFC majors, Indian benchmarks staged a measured recovery despite ongoing geopolitical concerns over the Strait of Hormuz.

Dalal Street reversed early morning momentum on Tuesday, September 22, as the BSE Sensex tumbled 329.91 points to settle at 74,529.08 and the Nifty 50 slipped below key technical supports to 23,329. Heavy profit-taking across IT heavyweights like TCS and Infosys, coupled with ongoing foreign outflows, overshadowed macroeconomic relief from softening crude oil prices and global market strength.

Dalal Street halted its six-week losing streak on Monday, September 21, as the BSE Sensex rallied nearly 600 points to 74,894 and the Nifty 50 advanced to 23,429. Relief was driven by Brent crude slipping to $101.5 a barrel, a steadying rupee, and heavy subscription numbers for the NSE IPO, even as geopolitical standoffs in Hormuz and new US tariff warnings kept broader sentiment guarded.

Dalal Street closed on a split note on Friday as an afternoon bounce lifted the Nifty 50 by 0.33% to 23,346, while the Sensex surrendered early gains in the final 30 minutes to settle marginally lower. With Brent crude still above $100, central banks turning hawkish, and a high-stakes governance battle erupting at Tata Sons, both indices logged their sixth consecutive weekly decline.

Dalal Street delivered a split verdict on Thursday as cautious optimism wrestled with persistent global macro pressures. While the Nifty managed a 53-point gain to close at 23,270, the Sensex ended flat with a negative bias, weighed down by an aggressive US Fed dot plot, $106 Brent crude, and massive liquidity absorption by the primary market.

Dalal Street halted its multi-session slide on Tuesday as both the Sensex and Nifty staged a relief rally from five-month lows, buoyed by defensive FMCG buying and central bank defense of the rupee. However, with Brent crude stubbornly elevated near $108 and US Treasury yields lingering at 5%, broader market sentiment remains guarded ahead of the Federal Reserve’s rate decision.

After a promising gap-up opening on Tuesday, Dalal Street succumbed to heavy selling pressure as the Nifty tumbled 474 points from its intraday high to close at 23,118.60. Surging energy prices driven by Middle East disruptions, steep rupee depreciation, and hardening US bond yields sealed a fifth consecutive week of market declines.

A potent double whammy of soaring energy prices and hardening global bond yields triggered another volatile session on Dalal Street on Friday. Despite a valiant mid-session rebound attempt, the Sensex and Nifty ended in the red, logging their fifth straight week of losses as geopolitical escalations in the Middle East and Fed rate hike fears unnerved investors.