BSE IT index corrected by 7% this week. The BSE healthcare index corrected ~5% this week amid US announcing 100% tariffs on branded or patented pharma products imported into the US.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, September 26, 2025: This week, the overall market breadth of the Indian equity markets was negative as it factored in the US announcement with respect to H1B visas and the pharma sector. The BSE Sensex and the NSE Nifty index fell in excess of 2% and the decline in the BSE Midcap and the BSE Smallcap was higher at 4%. All the key sectoral indices ended the weak in the red. US announced stricter norms on H1B visas. Accenture’s FY26 revenue guidance assumes no improvement in discretionary spending at the top end and some deterioration at the bottom end. BSE IT index corrected by 7% this week. The BSE healthcare index corrected ~5% this week amid US announcing 100% tariffs on branded or patented pharma products imported into the US. Auto stocks remained in focus as news report indicate healthy booking and deliveries in the initial days of the current festive season. Global equity markets were mixed in the past week, with developed markets outperforming the emerging markets. The key global news-flows impacting global markets included continued uncertainty around US trade policies and the ECB maintaining a cautious outlook on growth.
Mr. Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates, adds: “The domestic benchmark index Nifty opened on a weak note, remained under pressure throughout the session, and finally settled on a bearish note at 24,655. On the daily chart, Nifty broke its short-term trend line support and formed a big bearish candle, indicating weakness. The next trend line support is placed near 24,520, while intermediate support lies around 24,340. On the upside, resistance is now shifted towards 25,000 levels. Till the index sustains below 25,000, weakness is likely to persist. Traders are therefore advised to remain cautious.
The Bank Nifty index opened on a negative note, faced heavy selling pressure, and closed on a bearish note at 54,389. On the daily scale, the index broke its 100-DEMA support and formed a red candle, confirming weakness. On the downside, the next major support is placed near 53,785, where the 200-DEMA is positioned. On the upside, the 100-DEMA hurdle is placed near 54,900 which will act as the first resistance, followed by 55,510.”
