Industry Odisha Bureau, Sep 04: Indian stocks extended losses for a fourth straight session on Thursday. The Nifty 50 fell 0.17% to 23,873. Sensex declined 0.55% to close at 76,152. Brent crude oil broke above $95 a barrel. Geopolitical tensions added further pressure on sentiment. HDFC Bank, M&M, Gland Pharma and CreditAccess Grameen stayed in focus.
Technically, Nifty’s bias remains negative below 24,025, according to Bajaj Broking’s Pabitra Mukherjee. Sustained weakness could push the index toward 23,800–23,600. That zone aligns with the previous gap area and July’s low. On the upside, a move past 24,143, the 50-day EMA, could open a pullback toward 24,300–24,350. Only a break above 24,380 would signal renewed positive momentum, per the supplied market commentary.
HDFC Bank has raised close to $12 billion through FCNR-B deposits. The funds came via the RBI’s concessional swap window. Sources put the total between $11.5 billion and $12 billion. The fundraising highlights the lender’s continued access to overseas capital, though no further financial metrics were disclosed.
M&M expects its SML Mahindra integration completed by January. The truck-business merger remains on track for that timeline. Electric truck development is also progressing at the company. M&M plans to launch an electric small bus by April. These moves signal continued investment in commercial and electric mobility.
Gland Pharma is drawing attention over a reported stake sale. Fosun Pharma is reportedly considering divesting a 5% stake. The block deal has not been confirmed as completed. Fosun Pharma Industrial held 51.77% as of June 30. The reported floor price is Rs 2,763 per share. That could reflect up to a 5% discount to market price. The offer size is pegged near Rs 2,279.5 crore, with a 12-month lock-up reportedly attached.
CreditAccess Grameen raised Rs 300 crore through NCDs. The debentures were issued via bilateral placement in two tranches. No further terms on coupon or maturity were disclosed.
Elsewhere, Bharat Forge’s Kalyani Strategic Systems partnered with FN Herstal on small-arms and counter-drone capabilities. Ramco Systems signed an MoU with Safran Helicopter Engines to automate maintenance data flows. UltraTech Cement entered the wires and cables business with a Rs 1,800 crore investment under its Ultravolt brand. Sterlite Technologies approved Rs 3,000 crore in capacity-expansion capex.
Thursday’s session underscored a familiar divide. Broad market pressure stemmed from crude oil and geopolitical concerns. Company-specific catalysts, meanwhile, kept individual stocks like HDFC Bank and Gland Pharma actively tracked. The contrast reflects how index-level weakness and corporate-level developments can diverge, even within the same trading session.
