Stock News Highlights
Ellenbarrie Industrial Gases (+2.87%): Stock rose after the company secured a ₹481 crore contract from BHEL to supply and erect a 1,200 TPD cryogenic Air Separation Unit for its Odisha coal-to-ammonium nitrate project, boosting order visibility.
Pidilite Industries (-2.79%): Stock fell amid broader market weakness, with the partnership announcement having limited immediate earnings visibility as financial terms were not disclosed. The company has partnered with Hwaseung Chemical to introduce advanced footwear adhesive technologies in India.
HCL Technologies (-2.44%): Stock declined despite HCLSoftware announcing the acquisition of Croatia-based Robotiq.ai for €9 million, as the broader IT sector remained under pressure amid concerns over subdued growth and AI-driven pricing pressures.
NCC (-1.55%): Stock declined amid the broader market sell-off, as weak investor sentiment and profit booking in infrastructure stocks outweighed the positive impact of the company securing a ₹1,076.71 crore drinking water supply order from the Andhra Pradesh government.
Sectoral Performance
Nifty Metal (+0.78%): The index gained amid renewed buying in metal stocks, supported by firm commodity prices and improved demand expectations, with Vedanta, Tata Steel & Lloyds Metals leading the gains.
Nifty Pharma (+0.64%): The index rebounded from the previous session’s fall, with 12 gainers & 6 losers, as renewed buying emerged in pharma stocks and the sector benefited from a relatively defensive positioning amid broader market weakness. Positive sentiment following the US tariff exemption for select specialty drugs imported from India also supported the sector.
Nifty Consumer Durables (-2.71%): Consumer durables shares declined for the second consecutive trading session, with 2 gainers & 13 losers, amid broad-based market selling and a risk-off mood as rising crude prices and elevated US bond yields weighed on investor sentiment.
Nifty Realty (-2.31%): Realty shares declined for the second consecutive trading session, with Prestige Estates, Oberoi Realty & DLF among the major losers, as investors booked profits amid weak broader market sentiment and concerns over demand.
Market Insights
Technical Level: Nifty opened with a minor gap-down and faced sharp selling pressure, with resistance near 22,750 at the start of the session. The index fell toward support near 22,570, before staging a rebound toward the day’s resistance level, but closed below it, keeping the overall trend negative.
Advance-Decline Ratio: Market breadth remained positive, with 1,924 stocks advancing against 1,592 declining, resulting in an A/D ratio of 1.21, indicating broader buying interest.
The Big Picture: Diplomacy resumed quietly. US-Iran talks continued through mediators as Middle East crude exports recovered, easing some supply concerns, though Strait of Hormuz disruptions and elevated diesel prices kept oil-market risks far from resolved.
FII/DII Activity (September 28, 2026): Institutional flows remained mixed, with DIIs net buyers at ₹5,189 crore, while FIIs were net sellers at ₹5,353 crore, indicating strong domestic buying but continued foreign selling pressure.
Watch Out For Tomorrow
IPO Corner: SRIT India & Shah Investor’s Home IPO is closing for subscriptionTomorrow, making the IPO robust sentiment.
Macro: China NBS Manufacturing PMI (Sep) & GDP Growth Rate QoQ Final (Q2) data is scheduled to be released tomorrow.
Market Watch: Today’s expiry-driven weakness appeared largely technical, with negative market breadth reflecting broader selling pressure. The market continues to watch Iran mediation talks closely, as any meaningful progress could ease crude oil concerns and provide some relief to Indian equities.
Word of the day
Volatility
Meaning: The degree to which the price of an asset or market moves up and down over a period.
In simple words: How sharply and frequently prices change.
Example: “Rising crude prices and geopolitical tensions increased market volatility today.”