Indices trade lower in early trade; breadth weak
Barring Pharma all the sectoral indices on the NSE traded in the red, with Media, Private Bank and IT shares witnessing the sharpest declines.
At 09:25 IST, the barometer index, the S&P BSE Sensex declined 411.63 points or 0.57% to 72,350.63. The Nifty 50 index dropped 122.95 points or 0.54% to 22,653.55.
In the broader market, the BSE 150 MidCap Index dropped 0.48% and the BSE 250 SmallCap Index fell 0.51%.
The market breadth was weak. On the BSE, 1,101 shares rose and 1,906 shares fell. A total of 201 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 5,353.22 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,189.02 crore in the Indian equity market on 28 September 2026, according to provisional data.
Stocks in Spotlight:
HCL Technologies shed 0.54%. The company announced that HCL Software, its software business division, intends to acquire Robotiq.ai, a Croatia-based provider of an enterprise robotic process automation platform, to strengthen its enterprise agentic automation capabilities. The acquisition is expected to close in November 2026.
Ellenbarrie rallied 5.29% after the company has secured a Rs 481 crore contract from BHEL for the design, engineering, supply, erection, testing, pre-commissioning, commissioning, trial runs, operation, operator training, demonstration of performance guarantees, supply of spares, and handover of a 1,200 TPD cryogenic Air Separation Unit (ASU) on a turnkey basis for its coal-to-ammonium nitrate (2,000 TPD) project in Odisha.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.03% to 7.181 compared with the previous session close of 7.111.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 96.1000 compared with its close of 95.9700 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.09% to Rs 1,48,6,934.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 101.25.
The United States 10-year bond yield added 0.23% to 5.257.
In the commodities market, Brent crude for November 2026 settlement added $1.61 or 1.53% to $106.89 a barrel.
Global Markets:
US Dow Jones index futures were down 74 points, pointing to a lower opening for US stocks.
Asian market traded lower on Tuesday, following overnight losses on Wall Street. Rising crude oil prices and US Treasury yields continued to weigh on risk sentiment.
US stocks ended lower on Monday as oil prices and Treasury yields remained elevated, while developments surrounding OpenAI added pressure to technology shares. Geopolitical uncertainty also weighed on sentiment after US President Donald Trump rejected an Iranian proposal linked to reopening the Strait of Hormuz.
OpenAI was a source of pressure for AI-related stocks after reports that the company had paused training of some advanced AI models. The development raised concerns about the pace of AI investment and demand for chips and data-centre infrastructure.
The Dow Jones Industrial Average declined 0.67%. The S&P 500 shed 0.77%, while the Nasdaq Composite fell 0.92%.
US Treasury yields continued to rise amid expectations of further interest-rate hikes. The 10-year Treasury yield climbed to around 5.24%, its highest level since 2007, while the 30-year yield rose to around 5.56%, near its highest level in more than two decades.
Crude oil prices rose for a second consecutive session amid concerns over Middle East supply disruptions.
Investors will focus on the US JOLTS job openings data due later on Tuesday, along with comments from Federal Reserve officials including Michelle Bowman, Austan Goolsbee and John Williams.
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