Benchmarks trade with significant cuts; Europe opens marginally higher

The benchmark indices continued to trade with significant losses in afternoon trade. Investor sentiment remained cautious amid a surge in crude oil prices and rising global bond yields. The Nifty managed to hold aboe the 22,650 mark.

At 13:25 IST, the S&P BSE Sensex was down 404.82 points or 0.56% to 72,366.90. The Nifty 50 index dropped 116.95 points or 0.51% to 22,663.30.

In the broader market, the NSE MidCap 150 Index fell 0.45% while the NSE SmallCap 250 Index rose 0.02%.

The market breadth was negative. On the NSE, 1,862 shares rose and 2,349 shares fell. A total of 232 shares were unchanged.

Gainers & Losers:

Dr Reddy's Lab (up 1.51%), Adani Enterprises (up 1.47%), Kotak Mahindra Bank (up 1.15%), Adani Ports (up 0.99%) and Tata Steel (up 0.91%) were the top gainers.

HDFC Life (down 1.95%), Titan Company (down 1.86%), Infosys (down 1.78%), Eternal (down 1.69%) and HCL Tech (down 1.68%) were the top losers.

Stocks in Spotlight:

Pashupati Cotspin was locked in 20% upper circuit. The company said that its board will meet on Saturday, 03 October 2026, to consider a proposal for issue of bonus shares, subject to requisite approvals.

Pine Labs fell 2.08%. The company has announced the extension of its technology partnership with Woolworths Group for their gift card ecosystem through enhanced platform capabilities, deeper API integrations, and support for new digital stored-value experiences.

Krsnaa Diagnostics rose 1.54%. The company said that its board has approved the sale of identified diagnostic equipment for an aggregate consideration of up to Rs 120 crore to identified purchasers.

Symbiotec Pharmalab jumped 6.84%. The company announced the receipt of establishment inspection report (EIR) from the U.S. Food and Drug Administration (US FDA) for its manufacturing facility in Pithampur (SEZ), Madhya Pradesh.

Global Market:

US Dow Jones index futures were down 48 points, pointing to a lower opening for US stocks.

European shares traded marginally in the green while their Asian counterparts 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.

Powered by Capital Market - Live News