NIFTY TRADES BELOW 25,350 MARK; IT SHARES SLUMPS

The headline equity indices traded with moderate losses in the morning trade as investor sentiment took a hit following the Trump administration�s controversial H-1B visa policy, which imposes a one-time $100,000 fee on new applicants. The move, seen as a blow to India�s tech sector.

The Nifty traded below 25,350 mark. IT shares extended losses for the second consecutive trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, declined 145.82 points or 0.18% to 82,480.41. The Nifty 50 index lost 19.40 points or 0.08% to 25,307.65.

In the broader market, The S&P BSE Mid-Cap index fell 0.15% and the S&P BSE Small-Cap index shed 0.03%.

The market breadth was positive. On the BSE, 2,064 shares rose and 1,808 shares fell. A total of 210 shares were unchanged.

Trumps H1B Visa

The Trump administration has issued a key clarification regarding its new visa policy, confirming that the controversial $100,000 H-1B visa fee will be a one-time charge applicable only to new applicants. The policy, which came into effect at midnight on Sunday, 21 September 2025, does not impact petitions filed before this date�offering limited relief to the rattled tech industry.

Despite the clarification, the sudden announcement triggered widespread panic among Indian professionals in the U.S. on H-1B visas. Confusion and uncertainty gripped many, with some canceling last-minute travel plans and others already in India scrambling to return. Immigration attorneys and companies quickly raised red flags, especially for H-1B holders and their families currently outside the U.S. for work or vacation. American lawmakers also criticized the move, calling it �reckless� and potentially damaging to the country�s tech-driven economy.

Buzzing Index:

The Nifty IT index dropped 2.56% to 35,641.40. The index fell 3.01% in the two consecutive trading sessions.

Persistent Systems (down 4.22%), Mphasis (down 4.16%), Tech Mahindra (down 3.75%), Coforge (down 3.55%), LTIMindtree (down 3.53%), Tata Consultancy Services (down 2.18%), Wipro (down 2.04%), Infosys (down 1.97%), HCL Technologies (down 1.66%) and Oracle Financial Services Software (down 0.57%) declined.

Stocks in Spotlight:

Zydus Lifesciences shed 0.05%. The company announced that it has received the establishment inspection report (EIR) from US Food and Drug Administration (USFDA) for GMP follow-up inspection conducted at its oncology injectable facility located at SEZ1, Ahmedabad.

Netweb Technologies India rallied 5.89% after the company announced that it has secured a purchase order valued at approximately Rs 450 crore for the supply and deployment of its advanced Tyrone AI GPU-accelerated systems.

NBCC (India) added 1.47% after the company has secured multiple work orders worth approximately Rs 117 crore from the Housing and Urban Development Corporation (HUDCO).

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