Daily Market News Update — 21st-22nd September 2026

Midnight News Update: 21-22 Sep 2026

India core sector growth for August 2026 fell to a 3-month low of 4.8%. While cement and electricity continued to flatter, pressure came from energy products like coal, crude oil, and natural gas. Refinery products continued to be in the positive, growing at 2.6%, which is critical considering its weight in the core sector index. Cement and electricity showed double digit growth, while fertilizers output contracted -12.4% amid supply chain constraints. The positive thrust came largely from the construction linked sectors; principally due to front-loading of capex.

The NSE IPO saw subscription of nearly 5.71X as of the close of the IPO on 21-September. While the QIB segment saw 12.68X subscription, the HNI / NII space saw subscription of 6.55X. The retail response was subdued at 1.39X, but that increases the chances of allotment substantially. The anchor allotment ahead of the IPO had collected a whopping ₹6,746 crore across 189 anchor investors. The response was expected to be restrained due to volatile market conditions, as well as a sharp fall in the GMP of the stock. Its unofficial price has also fallen sharply.

As the Tata Trusts are looking for alternatives to listing Tata Sons, Noel Tata is exploring other alternatives to listing. One of them is by giving an exit route to the SP group to get an 18% vote on their side. The shares will be valued under Rule 11UA for tax purposes. Shapoorji Mistry is looking at monetizing around ₹25,000 crore from this swap / sale, so their short-term liquidity needs can be taken care of. The use of Rule 11UA will benefit the SP group as it will also give them the benefit of the TCS stake that Tata Sons holds. SP group will still retain a big stake in Tata Sons.

Microsoft has opened its fourth data centre in India at Hyderabad, as part of its $20.5 billion investment commitment to India. Major Indian business groups like Adani group, Bajaj group, and HDFC Bank have already signed up for this facility. All the data centres in India are fully AI-enabled. According to estimates by BCG, the data centre buildout could generate up to $200 billion in economic output for India by 2030. The Hyderabad data centre will support customers across South Asia and create solutions that are relevant to the global south.

Even as the blockade of the Straits of Hormuz continues, oil continues to flow through Hormuz via ship-to-ship transfers. These STS transfers are happening closer to the coast of Oman. A string of tankers have created a floating bridge and are waiting at a distance to get supplies through smaller boats. With the East-West pipeline at Yanbu also under maintenance, the STS transfers are the only way oil can move from the Gulf to the rest of the world. In September, the exports through the Straits of Hormuz have averaged around 6.5 million bpd, according to KPLER data.

India’s REIT (real estate investment trusts) market became the 4th largest in Asia at $17.7 billion, edging past Hong Kong. Japan is the biggest REIT market in Asia at $101 billion, while Singapore and China are the second and third largest in Asia. Across Asia, there are 289 REIT products valued at $279 billion. The Indian REIT market grew 62% between 2024 and 2026. The growth in India is attributed to new REIT listings like Knowledge Realty Trust and Bagmane Prime Office REIT. India’s 6 REITs collectively hold 178 million SFT, with another 37 million SFT under construction.

Dilip Buildcon will divest its solar portfolio to Alpha Alternatives in a ₹6,829 crore deal. Under the deal, Dilip Buildcon will sell its interests in a total of 10 SPVs; all solar portfolios being built. It comprises a total of 1,363 MW of grid-connected solar photovoltaic projects across 163 locations in Madhya Pradesh. Commercial operations across the portfolio are expected to commence around September 2027. DBL has been following an asset-light strategy by divesting its non-core assets so as to improve its ROI. The deal is subject to requisite regulatory approvals.

Tractor growth is expected to sharply slow in FY27 as weak monsoon is likely to weigh on tractor demand. The growth in wholesale volumes may slow to anywhere between 1% and 4%. According to ICRA, this would be sharply lower than the 26.5% volume growth seen in FY26. The uneven and deficient monsoons is likely to weigh on agricultural activity and rural incomes, which will impact tractor demand. The monsoon this year stood at 85% of long period average (LPA) making it the worst drought year since 2009. Rabi impact is likely to be more pronounced this year.