The SENSEX rose as much as 388 points during the session, closing 315 points higher at 73,896, while the NIFTY50 index advanced 77 points to close at 23,140. The benchmark reached an intraday high of 23,163, led by gains from heavyweights such as HDFC Bank, Axis Bank, Mahindra & Mahindra, Reliance Industries, Larsen & Toubro and Bajaj Finance. The rally was driven by short covering and value buying after the previous day’s worst single‑day decline in over six months. The market opened in a narrow range before breaking out on the upside in the afternoon as private‑sector lenders and small‑cap shares attracted buying interest.

Ten of the fifteen major sector gauges compiled by the National Stock Exchange ended higher, with the NIFTY Consumer Durables index posting a 1 % gain. The NIFTY Realty, Auto, Private Bank, PSU Bank, Metal, FMCG, Financial Services and Bank indices also rose between 0.4 % and 0.9 %. In contrast, IT, media, pharma, healthcare and oil & gas shares experienced selling pressure during the session. The broader market underperformed its larger peers, as the NIFTY Midcap 100 index fell 0.14 % while the NIFTY Smallcap 100 index advanced 0.15 %.

PB Fintech shares fell for a second straight session, closing 3.7 % lower at ₹1,165. According to The Economic Times, the company’s parent, Policybazaar, said proposed changes to insurance distribution economics could make it harder to justify remaining solely a distributor and increase the attractiveness of entering insurance manufacturing, which would allow it to design, underwrite and sell policies. Shares of Bharat Parenterals were locked in a 20 % upper circuit at its 52‑week high of ₹1,895.10 on the BSE after the company informed exchanges that its board will meet on Tuesday, 29 September to consider fund‑raising via preferential issuance of equity shares, though the amount remains undisclosed. Transport Corporation of India shares surged more than 14 % after the board announced it would consider an equity share buyback proposal next week.

Axis Bank was the top gainer in the NIFTY50 index, rising 3.03 % to close at ₹1,222. Asian Paints, Mahindra & Mahindra, Bajaj Finance, HCL Technologies, Power Grid, Titan, InterGlobe Aviation, Coal India and HDFC Bank also rose between 0.9 % and 2.14 %. On the flip side, Max Healthcare, Tata Motors PV, Infosys, ONGC, Trent, SBI Life, ICICI Bank, Bharti Airtel, Hindalco and Tata Consumer Products were the top losers in the NIFTY50 index.

The market’s short‑covering rally and value buying at lower levels helped lift the benchmarks after a sharp decline, but sectoral performance remained mixed, with consumer durables and banking leading gains while IT and oil & gas lagged. The day’s activity underscored the volatility in the Indian equity market, as midcap and smallcap indices moved in opposite directions. Investors noted that policy changes could affect distribution models for insurers, while corporate actions such as equity buybacks and preferential issuances influenced individual stock movements. The session concluded with the SENSEX at 73,896 and NIFTY50 at 23,140.