NEWS UPDATE 26 SEPTEMBER

📰 Key Headlines & Themes

1. Indian markets extend slide
   India’s major indices continued losses for the sixth straight session. Sensex dropped over 300 points, and Nifty slipped below 24,800.The Economic Times+2The Times of India+2
   Weakness is led by pharma stocks, reacting to U.S. tariff announcements.The Economic Times+2The Economic Times+2
2. Trump’s tariff shock rattles pharma & trade sentiment
   U.S. President Trump announced 100% import tariff on branded/pharmaceutical drugs, plus tariffs on heavy trucks and certain furnishings.Reuters+3AP News+3Reuters+3
   That move sent global markets downward, particularly in Asia, and raised concerns over trade frictions.Bloomberg+3Reuters+3AP News+3
3. Rupee under pressure
   The Indian rupee faced renewed weakness as investors anticipated fallout from the tariff shock.Reuters
   If tariffs affect India’s pharma exports, pressure on the currency could intensify.Reuters
4. Domestic bright spot: Maruti crosses valuation landmark
   Maruti Suzuki scaled the ranks globally: with a market cap of USD 57.6 billion, it overtook Ford, GM, and Volkswagen in valuation.The Economic Times
   This shows selective strength in consumer/auto names despite overall market stress.
5. Policy & consumption stimuli expected
   Analysts point to a possible Rs 3 lakh crore “lollapalooza effect” in India — driven by GST cuts, income tax reductions, and lower interest rates — that might boost consumption and support certain sectors.The Economic Times
   On the international front, U.S. macro data (jobs, inflation) are closely watched, as they shape expectations for future Fed rate cuts.S&P Global+2Bloomberg+2
6. Broker views / stock calls
   • Kotak Institutional gave a “sell” rating for Cochin Shipyard (CSL) citing execution risks.The Times of India
   • Sumeet Bagadia highlighted potential breakout names: Arihant Capital Markets, Hindware Home Innovation, Inox Green Energy Services, KIOCL, Hindustan Zinc.mint
   • Vaishali Parekh flagged stocks like PNB, HFCL, and TCS for intraday action.mint
7. Global markets dragging sentiment
   • Asian equities fell broadly following tariff developments and weaker global cues.Bloomberg+3AP News+3Reuters+3
   • Strong U.S. economic prints dampened expectations for aggressive Fed easing, contributing to volatility.Reuters+2Bloomberg+2

📊 Market Outlook & Levels to Watch

• On technicals, Nifty’s support is eyed around 24,876, while a break below could drag it toward 24,600 zones.mint+1
• Resistance sits around 25,300, and reclaiming that could signal a short-term bounce.mint+1
• The Bank Nifty is hovering near its 38.2% retracement (≈ 54,950). A fall below may trigger a slide toward 54,700 – 54,500.mint
• The upcoming U.S. inflation data, jobs report, and India–U.S. trade developments will likely be major catalysts.S&P Global+2Reuters+2