Indian markets opened with subdued sentiment as NIFTY50 remained flat at 23,441.70 (+0.04%) while BSE SENSEX added marginal gains to reach 74,808.82 (+0.06%). According to latest market reports, the NIFTY50 was trading 0.05% lower at 23,429.35 points during Thursday's session, compared to 23,431.50 points at the previous close. The BSE SENSEX index declined 0.07% to 74,709 points during the trading session, down from 74,764.23 points at the previous market close. The subdued performance was attributed to weak global cues, recent attacks in West Asia, and crude oil prices surpassing $100 per barrel, marking their highest level since May 25, 2026.
Among Vedanta Group companies, Vedanta Ltd shares closed at ₹271.15, down 0.9% with intraday returns of -0.1%. Vedanta Aluminium traded at ₹439.20, declining 1.6% with 5-day returns of 0.7%. Vedanta Power shares were priced at ₹33.95, falling 1.3% with 5-day returns of -1%. Vedanta Iron & Steel closed at ₹33.55, gaining 1.5% despite 5-day returns of -7%. Vedanta Oil & Gas shares ended at ₹36.52, up 2.5% with 5-day returns of -2.6%. Hindustan Zinc shares were priced at ₹596.50, declining 1.4% with 5-day returns of 1.5%.
Market sentiment showed stark sectoral divergence with Cables surging nearly 5% while Automobiles fell over 1.3%. According to latest market data, Energy and Forest Materials provided support to the broader market, while Capital Goods and Services faced selling pressure. The mid-day session reflected a rotation rather than a directional trend, with traders focusing on the strong outperformance in Cables and Energy stocks, while weakness in Automobiles and Capital Goods prevented significant upside momentum in benchmark indices. This contrast highlights the mixed nature of current market conditions across different sectors.
Vedanta Group's parent company, Vedanta Resources, successfully raised $400 million through a triple maturity bond issue priced in June this year, as reported by the Economic Times. The new bonds, maturing in 2032, 2034, and 2037, are priced at coupon rates of 7%, 7.37%, and 7.75% respectively. According to people familiar with the development, these new bonds are expected to reduce the company's costs while increasing the tenure of repayment. While the refinancing provided temporary positive momentum for listed entities, profit booking due to commodity prices and investor caution erased early market gains.
On the company-specific front, Hindustan Zinc signed a six-year transportation agreement with MFL India Limited on September 9 for deploying 30 electric trucks for concentrate transportation. As per the contract, which is extendable up to two years, these electric trucks will be progressively inducted to replace conventional diesel vehicles used for transporting zinc and lead concentrate from Rampura Agucha to smelting operations in Rajasthan. The company noted higher capital requirements associated with emerging technologies such as EVs and LNG, and is working with MFL to enable phased transition to cleaner mobility while ensuring continued participation of local drivers in the transportation network.
