Sensex, Nifty trade in negative terrain; metal shares tumble
Metal shares declined for second consecutive trading sessions.
At 11:25 IST, the barometer index, the S&P BSE Sensex declined 173.12 points or 0.24% to 72,325.38. The Nifty 50 index fell 87.80 points or 0.39% to 22,530.05.
In the broader market, the BSE 150 MidCap Index shed 0.43% and the BSE 250 SmallCap Index dropped 0.72%.
The market breadth was weak. On the BSE, 1,396 shares rose and 2,574 shares fell. A total of 255 shares were unchanged.
The Indian stock market will remain closed on Friday, 2 October 2026, on account of Mahatma Gandhi Jayanti.
Economy:
The government has reduced the windfall gains tax on exports of diesel and aviation turbine fuel (ATF) for the fortnight beginning 1 October 2026, while keeping the levy on petrol exports unchanged. The special additional excise duty (SAED), along with road and infrastructure cess, on diesel exports has been cut to Rs 16 per litre from Rs 20 per litre, while the levy on ATF exports has been reduced to Rs 10.5 per litre from Rs 15 per litre. The duty on petrol exports remains unchanged at Rs 0.5 per litre. The Finance Ministry said there is no change in the existing duty rates on petrol and diesel cleared for domestic consumption.
The seasonally adjusted HSBC India Manufacturing PMI rose to 55.1 in September from 52.8 in August, marking the strongest improvement in the sector?s health in seven months. The September data indicated a recovery in growth momentum across India?s manufacturing sector, supported by faster increases in new orders and output, which also contributed to job creation and inventory accumulation.
IPO Update:
Nityas Gems & Jewellery received bids for 47,33,200 shares as against 1,44,56,000 shares on offer, according to stock exchange data at 11:25 IST on 1 October 2026. The issue was subscribed 0.33 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 20,13,684 shares as against 84,71,153 shares on offer, according to stock exchange data at 11:25 IST on 1 October 2026. The issue was subscribed 0.24 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.
Buzzing Index:
The Nifty Metal index fell 1.07% to 12,623.35. The index declined 2.56% in the two consecutive trading sessions.
Lloyds Metals & Energy (down 2.81%), Hindustan Copper (down 2.33%), Vedanta (down 2.22%), Vedanta Aluminium Metal (down 1.85%), Jindal Steel (down 1.71%) were the top losers. Among the other losers were Jindal Stainless (down 1.44%), National Aluminium Company (down 1.42%), APL Apollo Tubes (down 1.38%), Steel Authority of India (down 1.25%) and Hindustan Zinc (down 0.91%) declined.
Stocks in Spotlight:
Hyundai Motor India added 1.02% to Rs 2052.90 after the company's monthly total sales rose by 10.8% to 77,916 units in September 2026 from 70,347 units in September 2025.
Molbio Diagnostics surged 3.98% to Rs 1,361 after HDFC Mutual Fund purchased 23 lakh shares of the company through a bulk deal on the BSE. According to bulk deal data for 30 September 2026, HDFC Mutual Fund bought 23 lakh shares, representing a 2% stake in Molbio Diagnostics, at Rs 1,315 per share.
Global Market:
Asian shares advanced on Thursday, with mainland China and Hong Kong markets closed for holidays.
US stocks ended mixed on Wednesday after data showed that inflation rose less than expected in August, easing expectations of an immediate Federal Reserve rate hike.
However, elevated Treasury yields limited gains. The Dow Jones Industrial Average declined 443.87 points, or 0.86%, to 50,906.05, while the S&P 500 fell 19.30 points, or 0.25%, to 7,651.54. The Nasdaq Composite rose 63.52 points, or 0.24%, to 26,861.06.
US inflation, as measured by the Personal Consumption Expenditures (PCE) price index, rose 0.3% month-on-month in August and 3.4% year-on-year. The annual increase was below economists? expectations of 3.7%, helping reduce expectations of a Federal Reserve rate hike at the October meeting. Core PCE inflation rose 3% year-on-year.
Micron Technology reported record fiscal fourth-quarter revenue of $54.23 billion and non-GAAP earnings of $33.42 per share. The company forecast adjusted EPS of $38.15 at the midpoint for the current quarter, above market expectations. Its shares initially gained in after-hours trading before paring the move.
Crude oil prices traded lower, with Brent crude futures down 0.24% at $97.79 a barrel. Oil prices remained a key focus for investors amid ongoing geopolitical tensions and concerns over energy supply.
Investors will next focus on the US nonfarm payrolls report for September, due on Friday, for further clues on the Federal Reserve?s interest-rate path.
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