The week wrapped up on a positive note for markets, with the Nifty and Sensex posting a third straight weekly gain, their longest winning streak in five months. PSU banks, realty, power and oil & gas stocks led the charge, even as the rupee slipped to 88.27 against the dollar. Vodafone Idea surged 12% after the Centre told the Supreme Court it does not oppose the telco’s plea on AGR dues, while Apple fans queued outside flagship stores as the iPhone 17 series went on sale across India.
On the policy front, Union Home Minister Amit Shah hailed GST 2.0 as one of the greatest reforms in independent India, calling it a landmark that simplified taxes and boosted exports.India reacted sharply to Saudi Arabia’s new defence pact with Pakistan, urging Riyadh to respect “mutual interests and sensitivities.” Meanwhile, the US revoked sanctions waivers for Chabahar port, with India examining the impact on its regional connectivity plans. President Trump described himself as “very close” to India and PM Modi, even while reminding that sanctions were imposed over Russian oil imports.
Also in focus: GST rate cuts, Sanjiv Goenka’s new green push, record bank lending to stockbrokers, and India’s Oscar entry
Nifty, Sensex gain for third straight week for first time in five months
The stock market notched a third consecutive weekly gain – their longest winning streak in five months – with benchmarks rising nearly 4% over the past three weeks, as broad-based buying lifted sentiment.This week, all four frontline indices ended higher, gaining about 1% each. The rally was led by PSU banks, realty, power and oil & gas stocks. The Nifty PSU Bank index climbed 5%, realty rose 4%, BSE Power added 3%, and oil & gas gained 2%.Read more hereAlso Read: Rupee falls 7 paise to 88.27 against US dollar in early tradeVodafone Idea shares surge 12% after government says not opposing relief pleaShares of Vodafone Idea Ltd. gained 12% after the Centre told the Supreme Court that it does not oppose Vodafone Idea’s plea on AGR dues, but some solution is required as the Centre is also an equity holder.The Supreme Court observed that there has to be some finality to these proceedings. It has deferred the hearing of Vodafone Idea’s plea to September 26.Read more hereExcusive | Home Minister Amit Shah hails GST 2.0 as one of the greatest reforms everSpeaking in an exclusive interview with Network18, Union Home Minister Amit Shah hailed the Narendra Modi government’s Goods and Services Tax (GST) reform as one of the most significant economic overhauls in independent India. Shah said the GST had replaced 16 different taxes with a unified system, streamlining the economy and boosting exports.”GST has not only simplified the tax structure but has also opened new doors for trade and development. It’s a landmark in India’s economic journey,” Shah told Network18 Group Editor Rahul Joshi.Read more hereIndia examining US revocation of Chabahar sanctions waiver: MEAIndia is assessing the implications of Washington’s decision to revoke the sanctions waiver for the Chabahar Port project in Iran, a move that could disrupt one of New Delhi’s most critical regional connectivity initiatives.”We have seen the US press statement regarding revocation of sanctions waiver for Chabahar Port. We are presently examining its implications for India,” the Ministry of External Affairs (MEA) said on Friday.Read more hereIndia reacts to Saudi-Pakistan defence pact, calls for ‘mutual sensitivities’New Delhi on Friday said it expects Saudi Arabia to respect “mutual interests and sensitivities” in the wake of Riyadh signing a strategic defence pact with Pakistan.The agreement, signed in Riyadh on Wednesday, states that “any aggression against either of the two countries shall be considered as an aggression against both.” Saudi Crown Prince Mohammed bin Salman Abdulaziz Al Saud and Pakistan Prime Minister Shehbaz Sharif signed the pact, with Sharif accompanied by Pakistan Army chief Field Marshal Asim Munir and Defence Minister Khawaja Asif.“India and Saudi Arabia have a wide-ranging strategic partnership that has deepened considerably in the last few years,” External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly briefing.Read more hereAlso Read: Piyush Goyal visits BAPS Hindu temple in Abu Dhabi, calls it ‘testament’ to India-UAE tiesTrump says he’s ‘very close’ to India, PM Modi but sanctioned them for buying Russian crude oilUS President Donald Trump on Thursday said he is “very close” to India and shares a strong personal rapport with Prime Minister Narendra Modi.
Addressing a joint press conference with UK Prime Minister Keir Starmer at Chequers, the British PM’s countryside residence, Trump said he has a “very good relationship” with Modi and also wished him on his 75th birthday — a gesture reciprocated by the Indian leader with a “beautiful” statement.Read more hereSanjiv Goenka says RPSG group will foray into cell and module manufacturing: ExclusiveThe RPSG Group will be foraying into module and cell manufacturing with some capacity coming on stream in the next few days, Chairman Sanjiv Goenka told CNBC-TV18 first and exclusively, in an interaction on Friday, September 19.Goenka said that within the next three years, there will be 3 GW each of cell and module capacity that will go on stream.Read more hereAlso Read: Sanjiv Goenka hints at IPO for RPSG’s renewables business in the next 12-18 monthsTop 3 banks have lent over ₹1 lakh crore to stockbrokersAdvances to stockbrokers by India’s top three private lenders—HDFC Bank, ICICI Bank, and Axis Bank—crossed ₹1 lakh crore mark for the first time in FY25, buoyed by rising retail participation in the world’s fifth-largest equity market and tighter Reserve Bank of India (RBI) curbs on shadow lenders’ capital market exposure.Read this on accessPeople queue up outside Apple stores as iPhone 17 series goes on sale in IndiaFollowing the iPhone 17 launch, Apple stores in major cities across India have reported serpentine queues and massive crowds. Just days after its unveiling, Apple’s iPhone 17 series went on sale in the country on Friday, September 19, with enthusiasts and fans flocking to flagship stores in Mumbai and Delhi to get their hands on the latest devices.Read more hereExclusive | Retailers, chemists, dealers brace for GST rate cuts: Price reset from Sept 22As the biggest GST price reset is on the anvil, CNBC-TV18 stepped out on September 19 to do a ground reality check on how prepared retailers, chemists, distributors and auto dealers are for this sweeping GST rate cut that is to take effect from September 22.From kirana shelves and pharmacy counters to auto showrooms, businesses are racing to update systems, relabel goods and align distribution networks — but with varying levels of readiness.Read more hereNeeraj Ghaywan’s ‘Homebound’ selected as India’s official entry for Oscars 2026Filmmaker Neeraj Ghaywan’s Hindi feature Homebound has been announced as India’s official entry for the 98th Academy Awards in the Best International Feature Film category. The decision was made by the Film Federation of India on Friday (September 19).The film, which premiered in the Un Certain Regard section at the Cannes Film Festival and also screened at the Toronto International Film Festival, was unanimously picked by a 14-member selection committee led by filmmaker N. Chandra.Read more hereBeyond #Newsroom Follow the CNBC-TV18 channel on WhatsAppCatch crispy news updates on the go! – CNBCTV18 MinisWatch all #videos under one segment- CNBCTV18 BingeWe bring you real-time updates and analysis of the stock market – Real-time market updatesWe’ll see you on Monday with another engaging ‘Top 10@10.’
