Benchmarks extend losing streak; Nifty ends below 22,650

The key equity benchmarks ended lower on Wednesday, extending their decline for a third consecutive session, as healthcare and metal stocks came under selling pressure. The Nifty settled below the 22,650. Realty and banking stocks, including private lenders, advanced and limited the overall decline.

Elevated crude oil prices and continued foreign institutional investor (FII) selling weighed on sentiment. Investors remained cautious amid elevated global bond yields and geopolitical uncertainties. Market participants are also tracking US inflation data and movements in crude oil prices and bond yields for cues on the global interest-rate outlook.

The S&P BSE Sensex declined 48.78 points or 0.07% to 72,480.29. The Nifty 50 index declined 95.75 points or 0.42% to 22,620.45. In three sessions, the Sensex and Nifty fell 1.92% and 2.25%, respectively.

Eternal (down 2.39%), Infosys (down 2.10%) and HDFC Bank (down 1.94%) were major Nifty drags today.

In the broader market, the BSE 150 MidCap Index declined 0.17% and the BSE 250 SmallCap Index was unchanged.

The market breadth was positive. On the BSE, 2,077 shares rose and 2,314 shares fell. A total of 223 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.61% to 13.50.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined 0.04% to 7.156 compared with the previous session close of 7.159.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.8250 compared with its close of 95.9475 during the previous trading session.

MCX Gold futures for the 5 October 2026 settlement advanced 0.83% to Rs 1,47,448.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.19% to 101.20.

The United States 10-year bond yield fell 0.61% to 5.228.

In the commodities market, Brent crude for the November 2026 settlement added $1.24 or 1.21% to $103.83 a barrel.

Global Market:

US Dow Jones index futures were down 95 points on Wednesday, pointing to a higher opening for US stocks.

European shares declined on Wednesday after preliminary consumer price data revealed that inflation accelerated far faster than anticipated across several of the Eurozone?s largest economies during September, largely driven by the ongoing energy-price shock stemming from escalating Middle East hostilities.

The surge in regional price pressures across Germany, France, Spain and Italy increases the likelihood that the ECB will be forced to raise official interest rates again to prevent high inflation from becoming embedded across the single-currency bloc.

Meanwhile, most Asian stocks ended higher today as global bond yields eased and oil prices softened.

US stocks ended slightly lower on Tuesday as government bond yields continued to rise ahead of key inflation and labour market data, while investors assessed comments from Federal Reserve officials for clues on the interest-rate outlook.

The Dow Jones Industrial Average declined 131.59 points, or 0.26%, to 51,349.92, while the S&P 500 fell 12.85 points, or 0.17%, to 7,670.84. The Nasdaq Composite declined 22.84 points, or 0.08%, to 26,797.54.

Longer-dated US Treasury yields rose, with the 30-year bond yield hitting 5.6206%, its highest level since June 2002. The benchmark 10-year Treasury yield climbed to 5.293%, its highest level since June 2007.

The 30-year fixed mortgage rate rose to 7.58% on Tuesday. This was the highest level in the current series since November 2023.

Expectations for at least a 25-basis-point Fed rate hike at the October meeting fell to 51.5% from nearly 70% earlier in the session, according to CME FedWatch. This was after New York Fed President John Williams said the central bank had time to assess incoming data before deciding on another rate increase.

US job openings fell by 256,000 to 7.079 million in August, the lowest level in five months, while the Conference Board's consumer confidence index fell 6.7 points to 81.9 in September, its lowest level since 2014.

Crude oil prices fell as concerns over supply disruptions eased following signs of a recovery in Saudi Arabia's crude exports from its Red Sea ports after repairs to a key pipeline. Uncertainty over the reopening of the Strait of Hormuz continued amid the US-Iran conflict.

New Listing:

Shares of Adroit Industries (India) were traded at Rs 248.35 on the BSE, representing a premium of 85.34% as compared with the issue price of Rs 134.

The stock debuted at Rs 250 on the BSE, a premium of 86.57% over its issue price. The stock has hit a high of Rs 250 and a low of Rs 240. On the BSE, over 6.44 lakh shares of the company were traded in the counter.

Shares of Elevate Campus were traded at Rs 322.95 on the BSE, representing a discount of 10.79% compared with the issue price of Rs 362.

The stock debuted at Rs 356.50 on the BSE, a discount of 1.52% over its issue price. The stock has hit a high of Rs 373 and a low of Rs 290. On the BSE, over 21.88 lakh shares of the company were traded in the counter.

Shares of Swastika Infra were traded at Rs 209.95 on the BSE, representing a premium of 13.49% compared with the issue price of Rs 185.

The stock debuted at Rs 200 on the BSE, a premium of 8.11% over its issue price. The stock has hit a high of Rs 209.95 and a low of Rs 200. On the BSE, over 1.60 lakh shares of the company were traded in the counter.

Shares of ArMee Infotech were traded at Rs 295.35 on the BSE, representing a discount of 21.24% as compared with the issue price of Rs 375.

The stock debuted at Rs 368.85 on the BSE, a discount of 1.64% over its issue price. The stock has hit a high of Rs 372 and a low of Rs 295.10. On the BSE, over 13.74 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Sun TV Network surged 7.73% after a report said the company was considering separating its Indian Premier League (IPL) business through a potential demerger of its cricket franchise assets. According to a media report, Sun TV is preparing for a potential demerger of its cricket franchise assets.

A brokerage report said a potential demerger could unlock value for shareholders. It estimated the IPL franchise could be valued at $1.4 billion-$1.5 billion, or approximately Rs 13,000 crore-Rs 14,000 crore.

Sun TV owns three cricket franchises - SunRisers Hyderabad in the IPL, SunRisers Eastern Cape in Cricket South Africa?s T20 League and SunRisers Leeds Ltd. in The Hundred in the UK.

In a clarification to the stock exchanges, Sun TV said it has made all disclosures to date and confirmed that there is no impending material price-sensitive information or announcement that may have a bearing on the price or trading volume of the company?s shares.

KSB rose 4.28% after the company announced that it had received a significant export order from Dangote Projects Free Zone Enterprise. The order involves the supply of around 18 boiler feed pump packages. The contract is valued at $12.4 million, equivalent to approximately Rs 118 crore, according to the company. The order has been awarded by an international entity and is scheduled to be executed between September 2027 and March 2028.

Power Mech Projects rallied 3.79% after securing a Rs 549.37-crore order from Moxie Power Generation for O&M services at its 2x600 MW Tuticorin thermal power plant. The contract period is 60 months, from 1 October 2026 to 30 September 2031.

Inox Green Energy Services declined 1.81%. The company has announced the successful completion of qualified institutions placement (QIP) for the equity shares of the company, raising an aggregate of approximately Rs 299.99 crore.

HEG Advanced Materials added 0.44%. The company said that Replus Engitech has signed a memorandum of understanding (MoU) with Indus Towers for exploring BESS solutions for telecom infrastructure in India.

IPO Update:

Nityas Gems & Jewellery received bids for 28,79,000 shares as against 1,44,56,000 shares on offer, according to stock exchange data at 17:00 IST on 30 September 2026. The issue was subscribed 0.20 times.

The issue opened for bidding on 30 September 2026 and will close on 5 October 2026. The price band of the IPO is fixed between Rs 70 and 75 per share. An investor can bid for a minimum of 200 equity shares and multiples thereof.

Vishal Nirmiti received bids for 4,61,720 shares as against 84,71,153 shares on offer, according to stock exchange data at 17:00 IST on 30 September 2026. The issue was subscribed 0.05 times.

The issue opened for bidding on 30 September 2026 and will close on 5 October 2026. The price band of the IPO is fixed between Rs 208 and 220 per share. An investor can bid for a minimum of 68 equity shares and multiples thereof.

Shah Investors? Home received bids for 14,40,59,615 shares as against 37,79,440 shares on offer, according to stock exchange data at 17:00 IST on 30 September 2026. The issue was subscribed 38.12 times.

The issue opened for bidding on 28 September 2026 and will close on 30 September 2026. The price band of the IPO is fixed between Rs 159 and 167 per share. An investor can bid for a minimum of 85 equity shares and multiples thereof.

SRIT India received bids for 1,47,18,52,455 shares as against 1,17,60,000 shares on offer, according to stock exchange data at 17:00 IST on 30 September 2026. The issue was subscribed 125.16 times.

The issue opened for bidding on 28 September 2026 and will close on 30 September 2026. The price band of the IPO is fixed between Rs 123 and 130 per share. An investor can bid for a minimum of 115 equity shares and multiples thereof.

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