The Indian stock market closed lower on Wednesday (September 16) with the 30-share BSE Sensex falling 778 points to settle at 74,003.82, while the 50-share NSE Nifty dropped below 23,150 to end at 23,118.60. According to latest market data, the decline was broad-based with realty sector worst hit, down 4%, while IT sector outshone with a 2.3% gain. The Rupee closed weak at 95.96 against the US dollar, reflecting the overall market weakness. Broader indices underperformed with Nifty Midcap and Smallcap indices shedding more than 2% each, indicating widespread selling pressure across market segments.
Ahead of the trading session, SEBI-registered research analyst Deepak Pal and an analyst at HDFC Securities have recommended several stocks that could potentially be bought or sold during Wednesday's trading session. As reported by ET Now, the analysts have provided specific target prices and stop-loss levels for these recommendations. Nomura maintains 'buy' on HDFC Bank with a target price at ₹950/share, while HSBC maintains 'outperform' on ACME Solar with a raised target price to ₹450/share. These recommendations come despite the challenging market conditions that saw biggest Nifty losers including Bharat Electronics, Shriram Finance, Adani Enterprises, Interglobe Aviation, and Grasim Industries.
According to the analyst recommendations, HDFC Bank is recommended as a BUY with a target price of ₹730 and stop loss at ₹700. Similarly, Colgate Palmolive (India) is suggested as a BUY with a target price of ₹1,850 and stop loss at ₹1,795. For selling recommendations, Bharat Electronics (BEL) is recommended as a SELL with a target price of ₹362 and stop loss at ₹403. Additionally, ACME Solar Holdings is recommended as a BUY with a target price of ₹445 and stop loss at ₹389.40. The recommendations highlight IT sector strength with HCL Technologies, Infosys, TCS, Tech Mahindra and Wipro gaining, while realty sector faced significant pressure with 4% decline.
Colgate Palmolive (India) Ltd. share price moved up by 1.28% from its previous close of ₹1,797.40, trading at ₹1,820.30 as of the latest market data. The FMCG major, with a market capitalization of ₹49,509.54 crore, operates in the personal care segment and has maintained a debt-free status for the last five years. The stock has shown resilience with a 52-week high of ₹2,413.80 and 52-week low of ₹1,782.00, reflecting its strong market position within the FMCG sector. Interestingly, Colgate shares rose amid unusual trading volumes during Wednesday's session, suggesting increased investor interest despite broader market weakness. As per Kotak Neo, Colgate-Palmolive (India) share price is ₹1,834.2 in NSE and ₹1,830 in BSE as on September 15, 2026, with the stock trading between ₹1,788.80 and ₹1,846.60 during the session.
The latest market decline follows the previous session's performance where the 30-share BSE Sensex fell 777.94 points, or 1.04 per cent, to settle at a three-month low of 74,003.82 on September 15. The 50-share NSE Nifty dropped 279.50 points, or 1.19 per cent, to end at 23,118.60, its lowest closing level since April 6. The decline was dragged by losses in blue-chip banking, auto and oil & gas shares. As per ET Now, GIFT Nifty was trading 0.1 per cent, or 21.5 points, higher at 23,224.50 as of 7:50 am IST on Wednesday, indicating a potentially higher opening before the actual market decline.
