The domestic equity market was trading lower by midday on September 7, with the Nifty 50 hovering around 23,800 and the BSE Sensex hovering around 76,000. 

Oil-linked stocks remained under pressure as crude prices moved above $97 per barrel, while IT stocks declined amid concerns over higher US borrowing costs. Defence stocks, however, continued to attract buying interest ahead of the Defence Acquisition Council meeting.

Here are the top movers and shakers at this hour  – 

Defence stocks

The share price of Paras Defence gained 3.8% by midday, while Apollo Micro Systems rose 4.3%, Solar Industries advanced 3.5% and MTAR Technologies gained 2.6%. Axiscades Tech added 1.9%, BEML climbed 3.2%, BEL rose 0.9%, Hindustan Aeronautics Ltd. gained 1.1%, Cochin Shipyard advanced 1.4% and Mishra Dhatu Nigam added 2.5%.

 The Nifty India Defence index was up 1.22% as the Defence Acquisition Council was scheduled to meet on September 7 to consider military procurement proposals covering air platforms, armoured platforms, naval warships and missile systems. The Ministry of Defence had earlier announced a Rs3,070 crore business opportunity covering 405 strategically important items, including helicopters, aircraft, engines, naval platforms, missiles, radars and other defence equipment.

Oil-linked stocks

The share price of Chennai Petroleum Corporation fell 2.4% by midday, while Indraprastha Gas declined 1.8%, HPCL fell 1%, Indian Oil dropped 1.1% and Bharat Petroleum Corporation Ltd. declined 0.7%. Reliance Industries was up 0.4%, while Asian Paints fell 0.6%, InterGlobe Aviation declined 0.6%, Apollo Tyres slipped 2.1% and MRF fell 0.9%. The selling came as global crude prices moved above $97 per barrel amid continuing supply disruption concerns around the Strait of Hormuz.

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Higher crude costs can put pressure on oil marketing companies through higher raw material expenses, while aviation, paint and tyre companies also face higher input costs because of their dependence on crude-linked products.

Information technology stocks

The share price of Infosys Ltd. fell 3.3% by midday, while LTM, Mphasis, Oracle Financial Services Software, Tech Mahindra, Coforge, Wipro, HCL Technologies, Persistent Systems Ltd. and Tata Consultancy Services declined between 1.25% and 2.91%. 

The Nifty IT index fell around 2.3% as concerns over higher US borrowing costs raised the possibility of weaker discretionary technology spending by American companies. US clients account for a significant portion of revenue for Indian IT companies, making technology budgets, consulting expenditure and contract spending important factors for the sector.

PVR INOX

The share price of PVR INOX Ltd. fell 8.24% by midday after the company crossed the September 4 record date for its Rs300 crore share buyback. The company will repurchase up to 20.69 lakh shares through the tender-offer route, with the buyback having earlier supported buying interest in the stock. 

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With the record date now past, the stock came under selling pressure as the event linked to shareholder eligibility ended. The company had also announced the opening of its first SMART Cinema at ICON Plaza Mall in Muzaffarpur, Bihar, taking its total screen presence in the state to 11 screens.

ESDS Software Solution

The share price of ESDS Software Solution gained 20% by midday and hit the upper circuit on the second day of its market listing. The stock had debuted on September 4 at a premium of 76.46% to its IPO issue price on the NSE. 

The Rs720 crore IPO comprised a fresh issue of 1.68 crore shares, with proceeds earmarked mainly for cloud computing equipment and data centre infrastructure. The issue was subscribed 135.88 times during the bidding period, while the company operates in artificial intelligence-enabled cloud, managed services, data centre infrastructure and software solutions.

Shiprocket

The share price of Shiprocket Ltd. gained 4.3% by midday as the logistics solutions provider was set to announce its April-June quarter results for FY27. The company’s board meeting was scheduled for September 7 to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The stock’s movement came ahead of the earnings announcement, with the market awaiting the company’s latest operating and financial performance.

Zydus Wellness

The share price of Zydus Wellness gained 9.55% by midday amid a sharp rise in trading activity. Trading volume on the NSE jumped 28 times to 59.23 lakh shares against an average volume of 2.10 lakh shares, while 3.74 lakh shares changed hands on the BSE compared with an average of around 20,000 shares over the previous two weeks.

Syrma SGS Technology

The share price of Syrma SGS Technology Ltd. advanced 11.45% by midday and touched a fresh 52-week high amid a rise in trading activity. NSE volumes jumped 8.5 times to 69.95 lakh shares against an average of 8.25 lakh shares. The company had recently announced the inauguration of a new high-reliability electronics manufacturing facility in Bengaluru through its joint venture with Elemaster Group, aimed at supporting customers across domestic and global markets.

TVS Holdings

The share price of TVS Holdings Ltd. advanced 5.85% by midday after CARE Ratings assigned a CARE AA+ Stable rating to the company’s non-convertible redeemable preference shares worth Rs930.68 crore. Trading volume on the NSE rose three times to 15,997 shares against an average of 5,344 shares, while BSE volumes also increased from their recent average.