Allied Blenders and Distillers Limited (ABDL) shares rose as much as 7.3% on the NSE on Thursday, September 24, after SBI Mutual Fund bought 34 lakh shares of the company. Abu Dhabi Investment Authority also acquired a little over 15 lakh shares at an average price of ₹650 apiece. The rally lifted ABDL to a session peak of ₹704.40. Bina Kishore Chhabria, a promoter, divested nearly 2% of his stake for ₹357 crore through an open market transaction on Wednesday, adding to the trading activity.

During the same afternoon session, the Indian benchmark indices SENSEX and NIFTY50 fell into negative territory. SENSEX tumbled as much as 1.2% to an intraday low of 73,947.70, while NIFTY50 dropped as much as 1.2% to a session low of 23,164.85. At 1:17 PM, the S&P BSE SENSEX slumped 803.98 points, or 1.07%, to trade at 74,024.27, and NSE’s NIFTY50 stood at 23,182.35, reflecting a 264-point, or 1.13%, decline.

The decline in the indices was accompanied by a sharp sell‑off in insurance and insurance‑distribution stocks such as PB Fintech, HDFC Life, SBI Life, ICICI Prudential Life, LIC, Max Financial Services, and Turtlemint Fintech Solutions. The sell‑off was triggered by the Insurance Regulatory and Development Authority of India’s (IRDAI) proposed changes aimed at banning dark patterns, rationalising distribution costs and recalibrating commission structures. IRDAI has issued a consultation paper on ‘Recalibrating Economics of Insurance Distribution’ covering distribution structure, expenses, commissions, market conduct, transparency and digital infrastructure.

FMCG and edible‑oil shares traded mixed after the government cut basic customs duty (BCD) on crude and refined palm, soybean, and sunflower oils. The BCD on crude sunflower oil was reduced to nil from 10%, while refined sunflower oil duty fell to 22.5% from 32.5%. For crude soybean and palm oil, the duty was lowered to 5% from 10%, and refined varieties were cut to 27.5% from 32.5%. These changes, effective from September 24, could ease input‑cost pressures for packaged food and consumer goods companies ahead of the festive season.

Ola Electric Mobility shares jumped as much as 6.4% to hit an intraday high of ₹44.55 per unit after the company announced a proposed rights issue of equity shares. The exchange filings on Wednesday evening showed that Ola Electric is scheduled to hold a board meeting on Monday, September 28, 2026, to consider the proposal. The rights issue route is being considered to enable participation by all eligible shareholders, including retail, institutional and promoter groups, subject to applicable laws.

Max Estates stock surged up to 8.22% to a 52‑week and intraday high of ₹652.80 after the company entered into a memorandum of understanding for a joint development agreement on a 9.76‑acre land parcel in Ghaziabad. The project, a super built‑up development with an estimated gross development value of ₹2,500‑₹3,000 crore, is part of the company’s expansion plan. The memorandum, dated September 23, was filed with the regulator and outlines a potential development of approximately 1.5 million sq. ft.