The Indian rupee depreciated by 7 paise to 88.27 against the US dollar due to a stronger dollar and declining domestic equities. US tariffs on Indian goods further dampened investor sentiment. While the rupee stumbled, supportive trade developments and domestic confidence suggest potential for appreciation, with key support at 87.70 and resistance around 88.40.

India’s market regulator, Sebi, continues probing multiple allegations against the Adani Group, including minimum public shareholding compliance and related-party transactions. While some Hindenburg claims were cleared, pending cases and a US DOJ bribery indictment keep regulatory risks alive. Adani’s listed firms have rallied, and expansion plans continue amid scrutiny.

Epack Prefab Technologies has set its IPO price band at Rs 194–204 per share for the Rs 494–504 crore issue, opening September 24 and closing September 26. Retail investors can bid for a minimum of 73 shares. The company has reserved 50% of the shares on offer for QIBs, 35% for retail investors and the remaining for NIIs.

Ixigo shares gained over 3% after Chris Wood of Jefferies added the stock to the India long-only portfolio with a 4% weight. The stock s entry in Wood s portfolio comes on the back of a stellar run over the past year. The online travel company has rallied 88% over the past year, outperforming the Nifty India Tourism index’s 13% returns.

CDSL has delivered a stellar 42% return in six months, with shares trading near Rs 1,600 on NSE, not far from their December 2024 peak of Rs 1,989.80. After a consolidation phase, the stock has regained momentum, posting weekly and monthly gains, and analysts are watching if this strength can drive it back to record highs.

India’s NBFC sector continues to grow rapidly, outpacing banks, but Moody’s warns of rising delinquencies in vehicle loans, microfinance, subprime mortgages, and education loans, with profitability pressured by higher credit costs despite resilient gold loan growth.

Urban Company shares soared nearly 10%, taking total gains to over 81% in just three sessions post-listing. Analysts remain bullish, citing its market leadership, strong brand recall, and long-term growth prospects in the tech-driven home services segment across India and abroad.

Harsha Upadhyaya of Kotak AMC sees GST’s structural benefits driving earnings growth, with Nifty EPS likely to rise 14% by FY27. He expects India-US trade resolution to revive FII inflows and continues to prefer domestic sectors, with selective bets on chemicals, consumption and financials.

Jefferies’ Chris Wood says $6,600 per ounce is a fair gold price, aligning with historical income-adjusted peaks. He maintains a bullish stance, urging gold as a core portfolio allocation despite Fed-driven market volatility.