Indian equity markets extended losses in late afternoon session amid heavy selling among large cap banking stocks and IT counters. Among large cap banking stocks, shares of HDFC Bank have suffered heavy selling pressure post its Q2 numbers. The bank has reported a 5.55% rise in its consolidated net profit at Rs 20,700.03 crore for Q2FY27, as compared to Rs 19,610.67 crore for the same quarter in the previous year. Besides, investors remained cautious as global crude oil prices continued to trade higher than their historical averages even after retreating from recent highs. The Brent crude oil prices traded around $108 per barrel mark amid uncertainty over regional supply prospects, as Iran escalated its attacks in the Strait of Hormuz and Ukraine conducted drone attacks on Russian refineries. Further, traders stayed away from any risky bets ahead of weekly expiry of Nifty F&O contracts.
On the global front, Asian equity markets were trading mixed with AI spending concerns and elevated oil prices keeping market participants on edge. European equity markets were trading lower amid concerns about high energy prices and France's political stability.
The BSE Sensex is currently trading at 73779.09, down by 950.18 points or 1.27% after trading in a range of 73708.54 and 74849.75. There were 4 stocks advancing against 26 stocks declining on the index.
The top losing sectoral indices on the BSE were IT down by 1.55%, FMCG down by 1.54%, TECK down by 1.49%, Basic Materials down by 1.08% and Utilities down by 1.05%. Meanwhile, there were no gainers on BSE sectoral index.
The top gainers on the Sensex were Adani Ports & SEZ up by 1.02%, State Bank of India up by 0.83%, Larsen & Toubro up by 0.31% and Maruti Suzuki India up by 0.12%. On the flip side, Axis Bank down by 4.01%, Ultratech Cement down by 2.86%, Trent down by 2.86%, Infosys down by 2.84% and Bajaj Finance down by 2.57% were the top losers.
Meanwhile, underscoring the significant commercial opportunities offered by India’s Free Trade Agreements (FTAs), Union Minister of Commerce and Industry Piyush Goyal has noted that India’s agreements provide preferential access to markets accounting for a major share of global trade. This will create numerous jobs and huge opportunities for farmers, women entrepreneurs, youth, MSMEs, artisans and industry. During ‘Leveraging FTAs’ Outreach Programme in Jaipur, Commerce Minister urged them to make use of reduced- or zero-duty access by focusing on quality.
Besides, he highlighted the new market opportunities for Indian industry and businesses opened through India’s recently concluded FTAs. The objective of the outreach programme is to move beyond negotiating market access to helping enterprises actually use it, with targeted information, capacity building, practical guidance and coordination among the Department of Commerce, the State Government, industry associations and exporters.
Meanwhile, India’s exports of merchandise and services have continued to register growth. Cumulative exports during April-September 2026-27 are estimated at $476.20 billion, compared with $418.31 billion during the corresponding period of 2025-26, registering estimated growth of 13.84%. Major drivers of merchandise export growth in September 2026 included electronic goods, petroleum products, organic and inorganic chemicals, engineering goods, and cotton yarn, fabrics, made-ups and handloom products.
The CNX Nifty is currently trading at 22863.20, down by 282.95 points or 1.22% after trading in a range of 22845.00 and 23175.25. There were 7 stocks advancing against 43 stocks declining on the index.
The top gainers on Nifty were JSW Steel up by 1.36%, Eicher Motors up by 1.03%, State Bank of India up by 0.97%, ONGC up by 0.72% and Adani Ports & SEZ up by 0.53%. On the flip side, Axis Bank down by 4.23%, Trent down by 2.86%, Infosys down by 2.79%, Ultratech Cement down by 2.76% and Tata Motors Passenger Vehicles down by 2.72% were the top losers.
Asian equity markets were trading mixed; Nikkei 225 slipped 414.29 points or 0.64% to 64,910.00, Taiwan Weighted lost 289.18 points or 0.62% to 46,822.08, Straits Times fell 6.65 points or 0.12% to 5,408.88 and Jakarta Composite plunged 201.61 points or 4.05% to 4,983.50, while KOSPI increased 99.96 points or 1.73% to 5,768.01 and Shanghai Composite strengthened 14.64 points or 0.39% to 3,730.92. Meanwhile, the Hong Kong Stock Exchange remained closed today in observance of the Double Ninth Festival (Chung Yeung Festival).
European equity markets were trading lower; UK’s FTSE 100 decreased 100.49 points or 0.93% to 10,781.41, France’s CAC fell 109.5 points or 1.4% to 7,847.20 and Germany’s DAX lost 289.51 points or 1.14% to 25,333.10.
