Indices magnify losses in late morning deals

Domestic equity indices magnified their losses in late morning deals as market participants continued to reduce their positions. Rising crude oil prices dampened domestic sentiment. Crude oil prices surged as tit-for-tat strikes between the U.S. and Iran on vessels sailing in the Strait of Hormuz and other areas heightened concerns of a prolonged supply disruption from the Middle East. Further, sentiments remained downbeat as Foreign Institutional Investors (FIIs) remained net sellers on September 4, 2026, with a net outflow of Rs 3,111.94 crore.

Both Sensex and Nifty were trading lower with cut of over half percent on account of selling in stocks of Reliance Industries, Infosys, Tata Consultancy Services, HDFC Bank, and Bharti Airtel. On the BSE sectoral front, traders were seen piling up positions in Telecom, Healthcare, and Industrials, while selling was witnessed in IT, Realty, TECK, Metal, and Basic Materials.On the global front, Asian markets were trading mixed following the negative cues from US markets on Friday.

The BSE Sensex is currently trading at 76095.46, down by 419.97 points or 0.55% after trading in a range of 76075.93 and 76477.19. There were 9 stocks advancing against 21 stocks declining on the index.

The few gaining sectoral indices on the BSE were Telecom up by 1.25%, Healthcare up by 0.43% and Industrials up by 0.15%, while IT down by 2.10%, Realty down by 1.49%, TECK down by 1.41%, Metal down by 1.37% and Basic Materials down by 0.73% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid up by 0.75%, Larsen & Toubro up by 0.66%, Bharat Electronics up by 0.58%, Maruti Suzuki India up by 0.33% and ICICI Bank up by 0.31%. On the flip side, Infosys down by 2.99%, Tata Steel down by 2.28%, Tech Mahindra down by 1.77%, HCL Technologies down by 1.58% and Trent down by 1.33% were the top losers.

Meanwhile, Union Commerce Minister Piyush Goyal has said that India and Belgium should work together on the lab-grown diamonds front. He said the two countries need to work on technology and certification aspects of lab-grown diamonds.

Outlining gems and jewellery as the top area where the two economies complement each other, He said, ‘Let us co-create, design, maybe lab-grown diamonds would be a new area we should look at working together in.’  The initiative can be anchored in Antwerp, a major marketplace for rough diamonds, and in Mumbai and Surat, Indian cities at the forefront of diamond polishing.

Besides, he stated other sectors where India and Belgium complement each other include semiconductors, where the European country's strength in microelectronics can pair up with India's scale. Similarly, the two countries can work on green hydrogen and ports, where the fuel of the future produced in India can drive operations, and also in defence and advanced manufacturing.

The CNX Nifty is currently trading at 23767.15, down by 130.55 points or 0.55% after trading in a range of 23762.60 and 23890.00. There were 10 stocks advancing against 40 stocks declining on the index.

The top gainers on Nifty were Power Grid up by 0.71%, Tata Consumer up by 0.57%, Larsen & Toubro up by 0.54%, Apollo Hospital up by 0.48% and Dr. Reddy's up by 0.44%. On the flip side, Infosys down by 3.31%, Tech Mahindra down by 2.49%, Tata Steel down by 2.08%, Trent down by 2.04% and HCL Technologies down by 1.84% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 1194.06 points or 1.84% to 66,215.00, Taiwan Weighted added 775.14 points or 1.64% to 47,326.27 and KOSPI increased 292.18 points or 4.37% to 6,979.39. However, Jakarta Composite plunged 8.29 points or 0.13% to 6,628.19, Shanghai Composite weakened 2.88 points or 0.07% to 3,927.24, Hang Seng declined 286.87 points or 1.12% to 25,364.00 and Straits Times fell 5.76 points or 0.1% to 5,796.20.