India's automobile industry needs to move beyond its focus on resilience and accelerate efforts to build global scale, technology leadership and internationally competitive value chains, industry leaders said on Wednesday.

The index declined as much as 2.38 per cent to 27,802.65 on the NSE, with all its constituents trading in the red. At around 10:15 AM, the Nifty Auto index was down 2.09 per cent at 27,896, compared with a 0.87 per cent decline in the Nifty 50 at 23,847.

The US 10-year Treasury yield rose to 4.81 per cent on Wednesday, moving closer to the 5 per cent level that Wood considers a potential trigger point for a major equity-market correction.

Shares of Sai Life Sciences continued their strong upward momentum on Wednesday, September 2, hitting a fresh lifetime high even as the broader Indian equity market witnessed heavy selling pressure.

The industry's underlying demand remains robust, with original equipment manufacturers (OEMs) maintaining healthy production schedules and expectations of another strong financial year.

The rupee opened at 94.97 against the US dollar, down 2 paise from its previous close of 94.95. The currency remained in a narrow trading range initially, but the broader market environment continued to remain challenging for emerging-market currencies.

The move comes as global philanthropic institutions increasingly look beyond traditional grant-making towards collaborative models that can identify promising solutions.

The stock debuted at ₹75 on the BSE, representing a 24.24 per cent discount to its issue price of ₹99. On the NSE, the shares opened at ₹72, translating into a 27.27 per cent discount.

Authorities have urged people living in central, eastern and western parts of Nepal to remain alert, particularly communities located close to riverbanks and in low-lying downstream areas.