Benchmarks slide for 4th day, Nifty ends below 22,450 mark

The key equity benchmarks ended sharply lower today, extending their decline for the fourth consecutive session. Intensified foreign institutional investor (FII) selling, rising US bond yields and a weakening rupee weighed on investor sentiment. The sentiment remained subdued amid elevated crude oil prices and continued uncertainty surrounding the US-Iran conflict. The Nifty settled below the 22,450 level, while broader markets also declined. Auto and metal stocks fell, while IT shares bucked the weak market trend.

The Sensex declined 570.59 points or 0.79% to 71,909.70. The Nifty 50 index tumbled 198.50 points or 0.88% to 22,421.95. In the four consecutive trading sessions, the Sensex and Nifty declined 2.69% and 3.11%, respectively.

Bajaj Auto (down 7.62%), Mahindra & Mahindra (down 3.05%) and Reliance Industries (down 1.63%) were major Nifty drags today.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index declined 0.99% and the BSE 250 SmallCap Index dropped 1.23%.

The market breadth was weak. On the BSE, 1,226 shares rose and 3,204 shares fell. A total of 228 shares were unchanged.

The Indian stock market will remain closed on 2 October 2026, on account of Mahatma Gandhi Jayanti.

Economy:

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.

Numbers to Tracks:

In the commodities market, Brent crude for December 2026 settlement climbed $2.05 or 2.09% to $100.08 a barrel.

The United States 10-year bond yield declined 0.19% to 5.303.

The Japan 10-year bond yield jumped 1.51% to 3.097.

The yield on India's 10-year benchmark federal paper jumped 0.31% to 7.206 compared with the previous session close of 7.184.

In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 96.2350 compared with its close of 95.9450 during the previous trading session.

MCX Gold futures for 5 October 2026 settlement rose 0.57% to Rs 1,46,950.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.34% to 101.82.

Global Market:

European equity markets opened the fourth quarter on a weak note on Thursday, as elevated energy prices, rising government bond yields and uncertainty over stalled US-Iran peace talks weighed on risk appetite. Eurozone inflation concerns also resurfaced after price pressures accelerated unexpectedly in some major economies.

Asian market ended mostly higher in holiday-thinned trading, supported by gains in technology stocks following strong results from Micron Technology. Mainland Chinese and Hong Kong markets were closed for holidays. Japan?s Nikkei gained as business confidence reached an eight-year high, although rising Japanese bond yields kept investors cautious.

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.

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.

New Listing:

Shares of Moneyview ended at Rs 54.03 on the BSE, representing a premium of 58.91% as compared with the issue price of Rs 34.

The stock debuted at Rs 55.61 on the BSE, a premium of 63.56% over its issue price. The stock has hit a high of Rs 62 and a low of Rs 50.25. On the BSE, over 7.51 crore shares of the company were traded in the counter.

Shares of A-One Steels ended at Rs 417 on the BSE, representing a premium of 2.96% as compared with the issue price of Rs 405.

The stock debuted at Rs 462 on the BSE, a premium of 14.07% over its issue price. The stock has hit a high of Rs 469.45 and a low of Rs 393.45. On the BSE, over 18.19 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Sterlite Technologies hit upper circuit of 5% after the company said its wholly owned subsidiary had received a long-term supply agreement from an international hyperscale partner. The total potential value of the agreement is estimated at around $1.2 billion based on prevailing selling prices of the connectivity products to be supplied, the company said in a regulatory filing.

Kotak Mahindra Bank rose 0.32%. The reserve bank of India (RBI) approved the appointment of Anup Kumar Saha as the new managing director & CEO of the Bank, for a period of three years, with effect from 1 January 2027.

Saha holds B. Tech degree in Engineering from IIT Kharagpur and has also completed his MBA from IIM Lucknow. He is currently the bank?s whole-time director (executive director). He joined Kotak Mahindra Bank in January 2026 and has been overseeing the retail banking, data analytics and marketing functions since March 2026.

Highway Infrastructure rose 5.26% after the company entered into a Rs 220.66 crore contract with the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for toll operations on the Gorakhpur Link Expressway.

Separately, the company announced that it had received a Letter of Acceptance from the National Highways Authority of India (NHAI) for a Rs 24.46 crore toll operations contract at the Velanchettiyur Fee Plaza in Tamil Nadu.

Surya Roshni fell 0.17%. The company said that the Steel Pipes & Strips sales volume stood at 2.67 lakh tonnes in Q2 FY27 as against 2.18 lakh tonnes in Q2 FY26, thereby registering a growth of 23% YoY.

Steel Strips Wheels (SSWL) declined 4.31%. The company reported a net turnover of Rs 625.81 crore for September 2026, marking a 52.4% year-on-year (YoY) increase compared to Rs 410.60 crore recorded in September 2025.

Escorts Kubota slipped 1.48% after the company's Agri Machinery Business reported 16.7% fall in tractor sales in September 2026, selling 15,214 units during the month as against 18,267 units sold in September 2025.

Mahindra & Mahindra declined 3.05%. The company has reported 15% year-on-year (YoY) increase in overall auto sales for the month of September 2026, which stood at 114,874 vehicles. The auto sales figure for the same period last year was 100,298 vehicles.

Hyundai Motor India shed 0.34%. The company's monthly total sales rose by 10.8% to 77,916 units in September 2026 from 70,347 units in September 2025. While the company's domestic sales increased by 10.9% YoY to 57,166 units, exports improved by 10.4% YoY to 20,750 units in September 2026.

IPO Update:

Nityas Gems & Jewellery received bids for 78,88,800 shares as against 1,44,56,000 shares on offer, according to stock exchange data at 16:21 IST on 1 October 2026. The issue was subscribed 0.55 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 45,70,008 shares as against 84,71,153 shares on offer, according to stock exchange data at 16:21 IST on 1 October 2026. The issue was subscribed 0.54 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.

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