Post Session: Quick Review

Thursday turned out to be a yet another lackluster day for Indian equity benchmarks, as bears held a tight grip over markets. After a cautious start, markets continued their southward trade till the end of the session, as sentiment remained subdued following the RBI’s shift towards a calibrated tightening stance and elevated crude oil prices.

Both indices, Sensex and Nifty, ended in deep red, amid broad-based selling with mid and small-cap stocks also coming under pressure. Traders remained cautious during the session as foreign institutional investors (FIIs) continued their selling spree, offloading equities worth Rs 6,121.37 crore on Wednesday.

Some of the important factors in trade:

FIEO raises concern over higher financial burden on exporters: Against the backdrop of 25 basis points policy repo rate hike by the Reserve Bank of India (RBI), apex exporters body - Federation of Indian Export Organisations (FIEO) has raised concerns over higher borrowing costs leading to rise in financial burden on exporters, particularly MSMEs, at a time when global trade is facing heightened uncertainty. 

Business conditions across services sector strengthen in Q2:2026-27: The Reserve Bank of India (RBI) in its latest quarterly services and infrastructure outlook survey has showed that business conditions across the services sector strengthened in Q2:2026-27, with firms reporting improvement in turnover and full-time employment.

India, UK reaffirm important role of Financial Markets Dialogue in deepening trade, investment ties: India and the UK have reaffirmed the important role of the Financial Markets Dialogue (FMD) in supporting sustainable growth, deeper trade and investment ties, and resilient financial markets.

Massive surplus liquidity in India's banking system to be absorbed within FY27 itself: RBI Governor Sanjay Malhotra has said the massive surplus liquidity in India's banking system will be absorbed within the current financial year itself (FY27). He said factors such as currency leakage, the Reserve Bank's liquidity operations and banks' reserve requirements would gradually absorb a substantial part of the surplus.

Weak global cues: European markets were trading lower, while Asian markets ended lower, as concerns over rising bond yields and the outlook for monetary policy weighed on markets as oil prices remained elevated in the wake of supply disruptions linked to the Iran conflict and attacks by Yemen's Iran-backed Houthis on Saudi Arabia.

The BSE Sensex ended at 71593.24, down by 1045.46 points or 1.44% after trading in a range of 71327.75 and 72693.97. There were 2 stocks advancing against 28 stocks declining on the index. (Provisional)

The top losing sectoral indices on the BSE were Power down by 3.51%, Utilities down by 3.38%, Metal down by 3.34%, Realty down by 3.07% and Capital Goods down by 3.02%, while there were no gaining sectoral indices on the BSE. (Provisional)

The only gainers on the Sensex were Infosys up by 0.49% and Tech Mahindra up by 0.11%. On the flip side, ITC down by 3.64%, Interglobe Aviation down by 3.52%, Bharat Electronics down by 3.10%, Adani Ports & SEZ down by 2.96% and Power Grid down by 2.96% were the top losers. (Provisional)

Meanwhile, the Federation of Automobile Dealers' Association (FADA) has said that India’s electric vehicle (EV) retail sales increased 74.08 per cent year-on-year to 3,33,364 units in September 2026 as compared to 1,91,497 units in September 2025. It said overall EV market penetration expanded to 13 per cent during the month, up from 10 per cent a year ago. 

According to FADA, the electric passenger vehicle (PV) retail sales nearly doubled in September 2026 to 36,108 units from 18,559 units in the corresponding month last year. Two-wheeler sales rose 88.67 per cent to 2,07,314 units in September 2026 from 1,83,204 units a year ago. Electric three-wheeler sales also registered strong growth of 40.03 per cent, rising to 86,024 units in September 2026 from 61,434 units in the corresponding month last year. Electric commercial vehicle (CV) retail sales stood at 4,138 units in September 2026, up from 1,622 a year ago. 

In terms of market share, the two-wheeler segment recorded 11.6 per cent growth in September over 8.2 per cent in the same month last year. Three-wheelers' share in the overall EV share increased to 56.7 per cent during September from 64.9 per cent in September 2025. Electric commercial vehicle segment's market share nearly doubling to 4.04 per cent during the month from 2.16 per cent in September 2025.  

The CNX Nifty ended at 22231.80, down by 371.25 points or 1.64% after trading in a range of 22179.90 and 22599.05. There were 3 stocks advancing against 47 stocks declining on the index. (Provisional)

The only gainers on Nifty were Infosys up by 0.50%, Tech Mahindra up by 0.34% and Axis Bank up by 0.20%. On the flip side, Adani Enterprises down by 5.36%, JSW Steel down by 4.46%, ITC down by 4.03%, Max Healthcare down by 3.81% and Interglobe Aviation down by 3.55% were the top losers. (Provisional)

European markets were trading lower; UK’s FTSE 100 decreased 45.5 points or 0.44% to 10,413.00, France’s CAC fell 81.01 points or 1.04% to 7,688.20 and Germany’s DAX lost 227.76 points or 0.91% to 24,876.60.

Asian markets ended lower on Thursday as Brent crude prices climbed above the $104 per barrel mark and bond yields in international markets remained elevated. Market sentiment was further dampened by a decline in technology stocks fuelled by concerns over a surge in AI-related corporate debt and negative cues from Wall Street overnight. Investors remained cautious after the US Federal Reserve's latest meeting minutes confirmed that most officials expect another interest rate hike before the end of the year. Chinese market slipped after traders returned from the week-long Golden Week holiday. Meanwhile, Japan's Nikkei index dropped as investors booked profits following a rapid rally to a three-month high.