Stock Market Today: Sensex Gains 324 Points at Open, Nifty Above 23,300; Midcaps, Smallcaps Mixed

Stock Market Today, September 21: Indian equity markets began Monday on a mixed note, with the Sensex gaining more than 300 points while the Nifty traded largely unchanged around 23,350. Investors remained focused on sectoral movements and volatility in the broader market.

At 9:16 am, the BSE Sensex was trading 324 points, or 0.44%, higher at 74,618.96. The Nifty 50 stood nearly flat at 23,345.20.

Broader Markets Show Mixed Trend

The broader market saw divergent moves. The Nifty Smallcap 100 advanced 0.19%, while the Nifty Smallcap 50 and Nifty Smallcap 250 rose 0.18% and 0.19%, respectively.

Midcap indices, however, remained under pressure. The Nifty Midcap 100 declined 0.26%, while the Nifty Midcap 150 slipped 0.27%.

The India VIX climbed 3.24% to 11.76, signalling increased expectations of near-term volatility.

Realty, FMCG Lead Sectoral Gainers

Among sectoral indices, Nifty Realty emerged as the strongest performer, rising 0.85%. FMCG followed with a gain of 0.51%, while Nifty Auto advanced 0.34%. Nifty Cement and Healthcare gained 0.34% and 0.18%, respectively.

On the weaker side, Nifty IT declined 0.54%. Nifty MidSmall Financial Services fell 0.63%, while Nifty Financial Services ex-Bank dropped 0.47%. PSU Bank was also down 0.20%.

Ultracemco Leads Sensex Gainers

Ultracemco topped the Sensex gainers, rising 3.15%. Asian Paints advanced 2.13%, followed by Trent at 1.49%, IndiGo at 1.47% and Titan at 1.13%.

ITC, ICICI Bank, Larsen & Toubro, Hindustan Unilever and Kotak Mahindra Bank were among the other stocks trading higher.

Meanwhile, Adani Ports declined 1.03%, Bharti Airtel fell 1.02%, Power Grid lost 0.83% and Infosys slipped 0.77%.

Global Risks Remain in Focus

Geojit Investments Ltd chief investment strategist V K Vijayakumar said rising geopolitical tensions remain a key concern for global markets, pointing to the conflicts in the Middle East and the Russia-Ukraine war.

He noted that Brent crude had moved below $102 as oil flows through the Strait of Hormuz increased, while US 10-year bond yields remained around 5%, potentially putting pressure on equities.

At the same time, Vijayakumar said expectations of strong economic growth in developed markets and healthy corporate earnings were helping equity markets remain resilient.

For India, he said GDP growth of around 7% and Nifty earnings growth of 12-14% could be achievable in FY27, with broader-market earnings growth potentially stronger.

He also said valuations of mid- and small-cap stocks remain significantly higher than those of large-caps, suggesting the possibility of greater investor interest in large-cap stocks if geopolitical tensions ease and crude prices and bond yields decline.