Stock News Highlights
KEC International (-2.00%): Stock declined despite securing new orders worth ₹1,014 crore in its India transmission and distribution business, including its first 765 kV transmission line project for power evacuation from a pumped storage plant in western India. The company’s year-to-date order intake has now exceeded ₹9,600 crore.
Viviana Power Tech (+3.67%): Stock rose after securing new turnkey contracts worth ₹466.73 crore from existing client Madhya Gujarat Vij Company (MGVCL). The projects involve converting 11 kV overhead HT lines into MVCC lines and developing underground network infrastructure, strengthening the company’s order book and revenue visibility.
Bajel Projects(-0.63%): Stock fell despite securing an EPC order worth over ₹200 crore from Tata Power Company for the supply and installation of 220 kV gas-insulated switchgear (GIS) substations at Salsette and Powai in Mumbai. The decline came despite the order win, amid broader market weakness and potential profit-booking.
Blue Dart Express (+0.08%): Stock remained flat after signing an MoU with India Post to expand its delivery network across Tier III and Tier IV towns and remote locations. The partnership aims to strengthen last-mile connectivity for businesses and customers, with the expanded coverage to be rolled out in phases.
Sectoral Performance
Nifty Media (+4.60%): Sector rose the most today, led by Nazara Technologies, Prime Focus and PVR INOX, as investors showed renewed interest in media and entertainment stocks. The rally also reflected a potential shift towards relatively fairly valued sectors amid selling pressure in PSU and IT stocks.
Nifty Chemicals (+1.24%): Sector advanced, with 13 gainers and 8 decliners, supported by easing input cost pressures, supply disruptions in Russia and China reshaping global chemical markets, and positive pre-earnings momentum ahead of upcoming quarterly results.
Nifty FMCG (-1.67%): Sector led sectoral losses amid heavy profit-booking and broad-based selling pressure, with ITC, Hindustan Unilever and Varun Beverages among the major laggards. Weak investor sentiment and concerns over demand growth and margin pressures weighed on FMCG stocks.
Nifty PSU Bank (-1.18%): Sector declined sharply, with all constituents closing in the red, amid tightening liquidity conditions, rising bond yields and broader market weakness. Higher yields and concerns over funding costs weighed on investor sentiment across public sector banking stocks.
Market Insights
Technical Level: Nifty opened with a minor gap-up and witnessed high volatility during the session, facing resistance near 22,650. The index moved lower from this level throughout the day, finding support near 22,300, and closed in negative territory amid continued FII selling and elevated Brent crude oil prices, which weighed on market sentiment.
Advance-Decline Ratio: Market breadth remained nearly balanced, with 1,795 stocks advancing against 1,796 declining, resulting in an A/D ratio of 1.00, indicating mixed market sentiment with a marginal bearish bias.
The Big Picture: Trump’s deal to resume Russian diesel supplies is meant to ease fuel prices before the US midterms, but limited shipments and damaged refineries may keep the relief small.
FII/DII Activity (October 09, 2026): DIIs were net buyers at ₹4,743 crore, while FIIs were net sellers at ₹3,569 crore, reflecting strong domestic institutional support despite continued foreign outflows.
Watch Out For Tomorrow
IPO Corner: HD Fire Protect IPO is Opening for subscription Tomorrow, making the IPO robust sentiment.
Market Watch: For investors, the market is near multi-year lows, and quality stocks look tempting. But with negative triggers piling up and FIIs still selling, this could be a falling knife. Don’t go big at once. Stick to strong businesses and add in small amounts on each drop.
Word of the day
Order Book
An order book represents the total value of confirmed orders a company has received but not yet executed. It provides insights into future revenue visibility and business growth potential.