Top 10@10: Nifty at 3-month low, Biocon's $1 billion insulin bet, GFF 2026 kicks off and more

Nifty hits a 3-month low, DIIs double downMarkets extended their slide on weekly expiry day, with the Sensex falling 555 points to 75,778 and the Nifty slipping below 23,700 to close at a three-month low, with banks leading the drag. DIIs, however, remained the steadying hand, more than doubling their net buying to ₹1,349.64 crore and extending their buying streak to 21 straight sessions. Oil offered little relief, with Brent holding above $97 as traders awaited final details of an Iran-Oman shipping arrangement for the Strait of Hormuz — a deal that could give Tehran greater control over the vital waterway. Sensex falls 555 points, Nifty ends at 3-month low: 5 reasons behind today's market decline The equity benchmark indices ended lower today, with the Sensex falling 555 points to 75,778 and the Nifty declining 144 points to 23,635. The Nifty slipped below 23,700 and ended at its lowest closing level in three months on weekly expiry day. Read more Also watch: Sensex down 550 points, Nifty ends at 3-month low levels: Banks drag DIIs more than double equity buying to ₹1,350 crore as markets slide Domestic institutional investors more than doubled their net buying in Indian equities to ₹1,349.64 crore on Tuesday from ₹566.76 crore a session earlier, extending their buying streak to 21 consecutive sessions.Read more Also read: Rupee falls 28 paise to close at 94.84 against US dollar Brent above $97 as crude holds steady after Iran-Oman Hormuz shipping deal nears final stages Oil prices held steady on Tuesday as traders awaited details of a shipping arrangement between Iran and Oman for the Strait of Hormuz, a deal that could hand Tehran greater control over the vital waterway. Read more Also watch: Brent crude holds above $97/bbl as Iran says Hormuz deal with Oman close A bumper IPO day, and Biocon's billion-dollar insulin bet Wednesday brings a busy primary market, with six IPOs opening for subscription and looking to collectively raise ₹4,510 crore. Biocon stays in focus for a different reason, guiding for continued double-digit growth in its biosimilars business, with insulin revenue alone seen crossing $1 billion. On the stock front, Bank of Baroda's planned NSE OFS, a Biocon block deal and fresh order wins for Innovision, Enviro Infra and TCS round out the day's watchlist. Stocks to Watch for September 9: Bank of Baroda, GE Shipping, Biocon and more From Bank of Baroda's planned NSE OFS and Biocon's block deal to fresh orders for Innovision, Enviro Infra and TCS, here are the stocks to track ahead of Wednesday's trading session. Read more Six IPOs open for subscription on Wednesday: All you need to know about their top risk factors As many as six Initial Public Offerings (IPOs), will open for subscription on Wednesday. These six companies, Karamtara Engineering, LCC Projects, Steamhouse India, Manipal Payments, Asset Reconstruction Company, and Rentomojo, cumulatively plan on raising a total of ₹4,510 crore.Read more Also read: No salaries for 4 months, flight delays: SpiceJet cash crunch deepens Biocon sees double-digit biosimilars growth continuing, targets mid-20% margins Biocon expects double-digit revenue growth in its biosimilars business to continue, with margins targeted at the mid-20% range and expected to improve further, the biopharmaceutical company said it has an aggressive revenue target, with insulin alone expected to hit $1 billion in revenue. This, it says, is more a matter of when, rather than if. Read more Also watch: Biocon target areas: Debilitating diabetes, oncology & ophthalmology Diplomacy, deals and a walkout in Paris Beyond the market moves, Wednesday's watchlist spans diplomacy, trade, artificial intelligence and an unusual labour dispute in Paris. Prime Minister Narendra Modi is set to meet Russian President Vladimir Putin in New Delhi around the BRICS Summit, while the UK has recognised India's Carbon Credit Trading Scheme for pricing relief under its carbon border mechanism — a potential boost for domestic exporters. In AI, French startup Mistral has hit a $24 billion valuation, with Samsung making its first major bet on the company. Meanwhile, the Eiffel Tower saw a staff walkout following allegations that women were sidelined during a visit by Hindu group BAPS, which has since apologised. Modi-Putin bilateral meeting at the 18th BRICS Summit: All you need to know Prime Minister Narendra Modi and Russian President Vladimir Putin are expected to meet in New Delhi around the 18th BRICS Summit on September 12-13, as India and Russia seek to build on a longstanding strategic partnership spanning defence, energy, trade, nuclear cooperation, space and other areas. Read more UK recognises India's carbon credit scheme under its carbon tax mechanism In a breakthrough, the UK has recognised India's Carbon Credit Trading Scheme as a qualifying criterion for pricing relief under its carbon border adjustment mechanism (CBAM), a move that would reduce the tax burden on domestic exporters, an official said on Monday. Read more Also read: India's first bullet train to begin testing by mid-2027: Ashwini Vaishnaw PM Modi at GFF calls for Fintech Consumer Protection Index, wider play and stronger cybersecurity Prime Minister Modi on Tuesday called on India's fintech industry to move beyond payments and expand its footprint across credit, insurance, savings, investments and pensions, saying the next phase of growth must replicate the 'speed and scale' achieved by UPI. Read more French AI company Mistral hits $24 billion valuation in funding round French AI startup Mistral raised a record €3 billion at a €21 billion valuation, co-led by Samsung Electronics. This marks the South Korean tech giant's first major investment in the three-year-old firm. Read more Also watch: Mistral secures $3.5 billion funding to compete with AI giants Women staffers sidelined at Eiffel Tower ahead of Hindu group's visit; BAPS 'apologises' The Eiffel Tower was temporarily closed on Monday after staff went on strike to protest gender discrimination. The walkout followed allegations that female workers were sidelined and replaced by men during a visit by the Hindu group BAPS. Read more