As per provisional closing data, the S&P BSE Sensex tanked 120.83 points or 0.16% to 74,781.76. The Nifty 50 index lost 79.70 points or 0.34% to 23,398.10.

In the broader market, the BSE 150 MidCap Index declined 0.59% and the BSE 250 SmallCap Index shed 0.03%.

The market breadth was negative. On the BSE, 2,018 shares rose and 2,470 shares fell. A total of 241 shares were unchanged.

India to Hold 18th BRICS Summit on 12-13 September:

India assumed the BRICS presidency for 2026, its fourth after 2012, 2016 and 2021, and will host the 18th BRICS Summit in New Delhi on 12-13 September 2026 under the theme "Building for Resilience, Innovation, Cooperation, and Sustainability." During its chairship, more than 350 meetings and high-level engagements have been held across 25 Indian cities, with the agenda focusing on practical cooperation in areas including agriculture, healthcare, digital technology, energy, urban infrastructure, MSMEs, startups, logistics, global value chains, and customs. Key initiatives include the BRICS Startup Innovation Fund, MSME Cooperation Portal, Digital Agriculture Network, Smart Grids and Energy Storage platform, Urban Mobility Hub, and Logistics Supply-Chain Cooperation Framework.

Initial Public Offer (IPO):

Veegaland Developers received bids for 1,22,59,739 shares as against 1,13,07,692 shares on offer, according to stock exchange data at 15:15 IST on 11 September 2026. The issue was subscribed 1.08 times.

The issue opened for bidding on 10 September 2026 and will close on 15 September 2026. The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 107 equity shares and multiples thereof.

Manika Plastech received bids for 2,46,01,860 shares as against 2,13,86,919 shares on offer, according to stock exchange data at 15:15 IST on 11 September 2026. The issue was subscribed 1.15 times.

The issue opened for bidding on 11 September 2026 and will close on 16 September 2026. The price band of the IPO is fixed between Rs 40 and 43 per share. An investor can bid for a minimum of 348 equity shares and multiples thereof.

LCC Projects received bids for 82,14,76,074 shares as against 2,09,27,281 shares on offer, according to stock exchange data at 15:15 IST on 11 September 2026. The issue was subscribed 39.25 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 139 and 146 per share. An investor can bid for a minimum of 102 equity shares and multiples thereof.

Asset Reconstruction Company (India) received bids for 68,86,99,615 shares as against 3,69,12,363 shares on offer, according to stock exchange data at 15:15 IST on 11 September 2026. The issue was subscribed 18.66 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 132 and 139 per share. An investor can bid for a minimum of 107 equity shares and multiples thereof.

Steamhouse India received bids for 96,36,97,745 shares as against 3,76,36,363 shares on offer, according to stock exchange data at 15:15 IST on 11 September 2026. The issue was subscribed 25.61 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 77 and 81 per share. An investor can bid for a minimum of 185 equity shares and multiples thereof.

Manipal Payment and Identity Solutions received bids for 1,81,81,724 shares as against 1,30,60,472 shares on offer, according to stock exchange data at 15:15 IST on 10 September 2026. The issue was subscribed 1.39 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 322 and 339 per share. An investor can bid for a minimum of 44 equity shares and multiples thereof.

Rentomojo received bids for 1,54,67,83,964 shares as against 2,17,72,311 shares on offer, according to stock exchange data at 15:15 IST on 11 September 2026. The issue was subscribed 71.04 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 384 and 404 per share. An investor can bid for a minimum of 37 equity shares and multiples thereof.

Karamtara Engineering received bids for 1,54,75,86,756 shares as against 2,54,14,937 shares on offer, according to stock exchange data at 15:15 IST on 11 September 2026. The issue was subscribed 60.89 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 241 and 254 per share. An investor can bid for a minimum of 59 equity shares and multiples thereof.

Buzzing Index:

The Nifty Realty index fell 2.70% to 848.50. The index tanked 7.6% in the six consecutive trading sessions.

Godrej Properties (down 6.62%), Lodha Developers (down 4.59%), Aditya Birla Real Estate (down 4.17%), Prestige Estates Projects (down 2.95%), Oberoi Realty (down 2.23%), DLF (down 1.73%), Anant Raj (down 1.72%), Sobha (down 1.53%), Brigade Enterprises (down 1.4%) fell.

Stocks in Spotlight:

Shankesh Jewellers rallied 3.30% after the company reported a 100.14% surge in consolidated net profit to Rs 43.23 crore in Q1 FY27 compared with Rs 21.60 crore in Q1 FY26. Revenue from operations jumped 55.06% YoY to Rs 423.57 crore in Q1 FY27.

Neogen Chemicals shed 0.04%. The company announced that its fund-raising committee has approved the opening of a Qualified Institutions Placement (QIP) of equity shares aggregating up to Rs 600 crore. The committee fixed 10 September 2026 as the relevant date for the issue and approved a floor price of Rs 2,189.73 per equity share, determined in accordance with SEBI regulations.

Premier Energies slipped 0.77%. The company said that it has entered into a binding term sheet with RCT India, part of RCT Group, Germany, to form a joint venture (JV) to establish a 12 GWh battery energy storage system (BESS) manufacturing facility in Telangana.

JSW Infrastructure lost 0.41%. The company said that it has completed the acquisition of NCR Rail Infrastructure through its wholly owned step-down subsidiary Khurja Rail Terminal, effective 10 September 2026. The acquisition consideration is Rs 467.47 crore, with a further Rs 41.94 crore paid for approximately 39.57 acres from Arshiya under the resolution plan.

APL Apollo Tubes fell 2.05%. The company announced that it has incorporated an associate company, SG Enterprise Solutions, which will provide common corporate support services to participating group entities through a centralised shared services model.

Global Markets:

The US Dow Jones index futures were up 310 points, pointing to a higher opening for US stocks on Friday. However, the broader global market backdrop remained cautious as investors assessed surging crude oil prices, rising bond yields and the risk of further monetary tightening.

European markets traded higher on Friday after data showed that the UK economy expanded faster than expected in July. UK gross domestic product (GDP) grew 1.6% year on year in July, while monthly output increased 0.4%, following growth of 0.3% in June and a flat reading in May.

Asian shares mostly ended lower on Friday as investors reacted to the latest escalation in the Middle East and the resulting jump in energy prices.

Japan's wholesale inflation rose 7.6% in August from a year earlier, BOJ data showed. It followed a revised 7.7% gain in July.

Brent crude was trading around $108.35 a barrel, down 0.54%, after jumping 5.9% on Thursday to settle at $107.63.

The rise in crude prices has intensified concerns that a prolonged conflict could keep global inflation elevated. The latest escalation has also raised concerns over shipping through key Middle Eastern and Red Sea routes, adding to uncertainty over the availability and cost of crude supplies.

US stocks fell for a fourth consecutive session on Thursday. The Dow Jones Industrial Average declined 316.56 points, or 0.60%, to 52,064.10, while the S&P 500 fell 0.58% to 7,591.70 and the Nasdaq Composite declined 0.65% to 26,081.72. The S&P 500's four-session losing streak came as investors reassessed the outlook for inflation and interest rates following the surge in oil prices.

The sell-off in equities was accompanied by a sharp rise in US Treasury yields. The 10-year yield moved close to 5%, reaching levels not seen since 2023, while the 30-year yield also climbed to a multi-year high. Higher yields increase borrowing costs and can put pressure on equity valuations, particularly interest-rate-sensitive and growth stocks.

Investors are also digesting the latest US inflation data. The Producer Price Index for final demand increased 0.4% month-on-month in August, while prices rose 5.4% from a year earlier. Energy prices were a major contributor, with final-demand energy prices rising 4.2% in August and diesel prices jumping 24.1%.

Attention now turns to the US Consumer Price Index for August, due later on Friday. The CPI will be closely watched ahead of the Federal Reserve's September 15-16 meeting, as policymakers assess whether higher energy prices are feeding into broader inflation. Markets are currently pricing roughly a 70-71% probability of a 25-basis-point Fed rate hike next week, according to CME FedWatch data.