Domestic equity indices extended their losses in late morning deals as market participants reduced their positions. Weak cues from other Asian markets weighed on domestic sentiment. Sentiment remained weak as foreign institutional investors (FIIs) extended their selling streak in the cash market for an 11th consecutive session, with net sales of Rs 3,568.90 crore on October 9, 2026. Besides, caution prevailed in the markets as the Reserve Bank of India (RBI) raised the minimum daily cash reserve ratio (CRR) maintenance requirement for banks to 99 per cent from 90 per cent of the prescribed requirement, effective from the fortnight beginning October 16.
Sensex traded lower with cut of 0.73 percent, while Nifty fell 0.60 percent on account of selling in Reliance Industries, ICICI Bank, Bharti Airtel, Hindustan Unilever and HDFC Bank, On the global front, Asian markets were trading mostly in red as traders remained cautious about the developments in the Middle East as US President Donald trump said he may join Saudi Arabia in retaliating against Iran-backed Houthis in Yemen following another deadly attack on Riyadh's international airport and tanker attacks near the Strait of Hormuz over the weekend.
The BSE Sensex is currently trading at 71941.72, down by 530.61 points or 0.73% after trading in a range of 71898.17 and 72884.25. There were 11 stocks advancing against 19 stocks declining on the index.
The top gaining sectoral indices on the BSE were Capital Goods up by 1.25%, Auto up by 1.03%, Realty up by 0.71%, Industrials up by 0.70% and Consumer Disc up by 0.55%, while Telecom down by 1.32%, FMCG down by 1.06%, TECK down by 0.99%, Bankex down by 0.75% and IT down by 0.41% were the top losing indices on BSE.
The top gainers on the Sensex were Bharat Electronics up by 1.60%, Mahindra & Mahindra up by 1.34%, Trent up by 0.59%, Tata Steel up by 0.46% and Ultratech Cement up by 0.34%. On the flip side, Tech Mahindra down by 3.50%, ITC down by 2.27%, Bharti Airtel down by 1.94%, State Bank of India down by 1.70% and NTPC down by 1.16% were the top losers.
Meanwhile, Commerce and Industry Minister Piyush Goyal has said that the trade agreement between India and the United States (US) will be finalised considering changing circumstances since two countries announced a framework for an interim pact in February. He said India is also negotiating trade agreements with several countries and regional blocs, including Israel, Chile, the Gulf Cooperation Council (GCC) and the Russia-led Eurasian Economic Union (EAEU). He added that India is seeking lower tariffs for its goods in the US market than its competitors.
The minister did not elaborate on the changed circumstances, but the changing tariff landscape in the US has led to further negotiations on the first phase of the proposed India-US Bilateral Trade Agreement (BTA). Earlier this month, Goyal met US Trade Representative Jamieson Greer on the sidelines of G20 trade mister meeting in Milwaukee, where the two sides discussed trade pact-related issues.
Goyal said that negotiations for a trade pact with Canada are progressing at a faster pace and talks for an agreement with South Africa-led SACU group is expected to begin soon. He said several countries are keen to negotiate trade agreements with India, and added that talks with Mexico will be launched next week. He further said that the trade ministers of the UK and Canada will be visiting India next week. India and the UK implemented a trade agreement in July. He said the UK minister will be here for the India-UK Joint Economic and Trade Committee (JETCO) meeting.
The CNX Nifty is currently trading at 22386.05, down by 134.40 points or 0.60% after trading in a range of 22370.65 and 22651.10. There were 18 stocks advancing against 32 stocks declining on the index.
The top gainers on Nifty were Bajaj Auto up by 2.80%, Dr. Reddy's up by 2.26%, Mahindra & Mahindra up by 1.42%, Bharat Electronics up by 1.14% and BSE up by 1.02%. On the flip side, Tech Mahindra down by 3.00%, ITC down by 2.54%, State Bank of India down by 2.06%, Bharti Airtel down by 1.79% and Coal India down by 1.69% were the top losers.
Asian markets were trading mostly in red; Taiwan Weighted lost 11.48 points or 0.02% to 49,301.96, Jakarta Composite plunged 117.98 points or 1.97% to 5,975.78, Shanghai Composite weakened 10.73 points or 0.28% to 3,803.06, KOSPI dropped 195.47 points or 3.04% to 6,430.46. However, Hang Seng advanced 27.65 points or 0.11% to 24,239.00 and Straits Times rose 18.22 points or 0.34% to 5,420.11.
