Back home, the Sensex and Nifty soared to their highest in over two months, led by banks and auto stocks, even as investors kept a close watch on the US Fed’s rate call later this week.
Gold hovered near record highs of ₹1.10 lakh per 10 grams, while the GST rate cut on medicines from September 22 promises relief for households. At CNBC-TV18’s Banking Transformation Summit, DFS Secretary M Nagaraju said Indian banks “deserve to be in the top 10 globally” — underscoring the sector’s ambition to scale with India’s growth story.
On the corporate front, L&T sought an exit from the Hyderabad Metro, Jindal Steel’s offer sent Thyssenkrupp soaring, and ARM’s chief made a bold pitch for AI’s role in healthcare.
Outside boardrooms, Dehradun reeled under a cloudburst, the Supreme Court set a firm deadline for Maharashtra polls, and the UN levelled grave charges against Israel.
Here are the day’s 10 stories that shaped conversations across markets, policy, and geopolitics.
India, US step up efforts to fast-track bilateral trade agreement talks
A team of officials from the Office of the United States Trade Representative (USTR), led by Brendan Lynch, Chief Negotiator of the India–US Bilateral Trade Agreement (BTA) negotiations, met Indian officials in New Delhi on September 16 for a fresh round of discussions. The Indian side was led by Rajesh Agrawal, Special Secretary in the Department of Commerce.
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Sensex, Nifty climb to over two-month high as banks, autos lead gains
The stock market rose sharply on Tuesday, with benchmark indexes closing at their highest level in more than two months, lifted by financials and auto stocks, while gains in midcap and smallcap counters kept market breadth strong.
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Fed may stick to a smaller rate cut despite weak data, says Raymond James strategist
The US Federal Reserve is poised to deliver a 25 basis point (0.25%) rate cut this week, according to Matt Orton, Chief Market Strategist at Raymond James Investment. He dismissed speculation of a larger 50 basis point reduction as highly improbable under current economic conditions.
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Also Read: Gold rates in India near ₹1.10 lakh per 10 grams ahead of Fed policy decision
India needs bigger banks, deserves spot in world’s top 10: DFS Secretary
M Nagaraju, Secretary, Department of Financial Services (DFS) has called for Indian banks to think bigger, scale faster, and aim for a place among the world’s largest lenders.
Speaking at the CNBC-TV18 Banking Transformation Summit 2025, Nagaraju said, “Our banks deserve to be in the top 10 globally. At least two Indian banks need to make it to that list.” He stressed that this ambition could be realised through multiple routes, including organic growth, but cautioned against the risks of over-leveraging.
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GST rate cut on medicines from Sept 22: No need for re-labelling, prices to be updated via revised lists
If you are planning to buy medicines after September 22, 2025, here’s how the new Goods and Services Tax (GST) rate cut will impact your medical bills. The Central Board of Indirect Taxes and Customs (CBIC) has clarified that there will be no requirement to recall or re-label medicine stocks already in the supply chain before the new rates take effect.
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AI will revolutionise drug discovery and healthcare: ARM CEO Rene Haas
Rene Haas, CEO of ARM Holdings, believes the biggest potential for artificial intelligence lies in healthcare. “Designing a chip versus curing cancer—I’m going to bet that the killer app for AI is in health,” he said, pointing to areas such as drug research, gene studies, genomics, and clinical trials.
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L&T seeks exit from Hyderabad Metro project, cites heavy losses and lack of state support
Infrastructure major Larsen & Toubro (L&T) has formally requested to exit the Hyderabad Metro Rail project, citing mounting financial losses and a lack of support from the Telangana government. In a letter to Union Housing and Urban Affairs Minister Manohar Lal Khattar, the company said it was open to selling its more than 90% equity stake to either the state or central government through a new Special Purpose Vehicle (SPV).
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Jindal Steel bid lifts Thyssenkrupp shares to highest level in over four years
Shares of Thyssenkrupp AG surged to a four-and-a-half-year high in Frankfurt after the German conglomerate received a non-binding indicative offer from Jindal Steel International for its steel division. The stock jumped nearly 9% in Tuesday’s trade to touch €11.83 — its highest level since May 2021. The rally also lifted Thyssenkrupp’s market value to about €7.3 billion ($8.6 billion). The counter has tripled in 2025, as investors bet Thyssenkrupp will benefit from a European defense boom.
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Uttarakhand: Massive cloudburst in Dehradun leads to landslides and heavy rains | Watch videos
Two people are reportedly missing so far after a massive cloudburst occurred on the outskirts of Uttarakhand’s Dehradun on Tuesday (September 16), causing landslides and heavy downpour in the Sahastradhara area.
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Supreme Court fixes January 2026 deadline for Maharashtra local body polls
The Supreme Court on Tuesday (September 16) set January 31, 2026, as the final deadline for conducting all pending local body elections in Maharashtra, issuing a stern warning to the State Election Commission (SEC) and the state government for repeated delays.
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UN inquiry finds top Israeli officials incited genocide in Gaza
A United Nations Commission of Inquiry concluded on Tuesday (September 16) that Israel has committed genocide in Gaza and that top Israeli officials including Prime Minister Benjamin Netanyahu had incited these acts – accusations that Israel called scandalous.
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