Sensex, Nifty 50 extend losses to 7th consecutive session— 10 key highlights from Indian stock market today

Stock market today: Indian stock market benchmarks—the Sensex and the Nifty 50—ended in negative territory on Monday, September 29, extending their losing streak to the seventh consecutive session. In these seven sessions, both indices have declined by over 3 per cent each.

The Sensex ended 62 points, or 0.08 per cent, lower at 80,364.94, while the Nifty 50 settled at 24,634.90, down 20 points, or 0.08 per cent on Monday.

The BSE Midcap index outperformed, rising 0.34 per cent, but the Smallcap index slipped 0.17 per cent.

ICICI Bank, Axis Bank, and Bharti Airtel were the top drags on the Sensex, while HDFC Bank and SBI offered the strongest support to the index.

Indian stock market: 10 key highlights from the day

1. Why is the Indian stock market falling?

The Indian stock market's fall over the last seven sessions could be largely attributed to US President Donald Trump's fresh protectionist measures—an H-1B visa fee hike and a tariff on pharma imports. Relentless selling by foreign institutional investors (FIIs) and the lack of fresh positive triggers are also affecting market sentiment.

"The domestic market concluded a volatile session on a flat note as investors turned more cautious ahead of a holiday-led truncated week and continued FII selling. Lack of clarity in the US-India trade deal and prolonged pressure on IT and pharma indices are near-term concerns for the market," said Vinod Nair, Head of Research, Geojit Investments Limited.

Nair observed that investors await the RBI policy outcome on Wednesday, and the central bank is expected to keep the rates unchanged to contain volatility in the rupee.

2. Top losers in the Nifty 50 index

Shares of Maruti Suzuki India (down 1.76 per cent), Axis Bank (down 1.73 per cent), and Dr. Reddy's Laboratories (down 1.13 per cent) ended as the top losers.

3. Top gainers in the Nifty 50 index today

Shares of IndusInd Bank (up 3.07 per cent), Titan Company (up 2.70 per cent), and Hindalco Industries (up 1.65 per cent) ended as the top gainers in the Nifty index.

4. Sectoral indices today

Nifty PSU Bank ended with a stellar gain of 1.78 per cent, followed by Nifty Oil and Gas, which rose 1.35 per cent and Nifty Realty, which gained 0.88 per cent. The Nifty Bank index climbed 0.13 per cent.

5. Most active stocks in terms of volume

Vodafone Idea (73.91 crore shares), Sammaan Capital (15.67 crore shares), and PC Jeweller (6.97 crore shares) were the most active stocks in terms of volume on the NSE.

6. 10 stocks jump over 15% on BSE

Bazel International, Graviss Hospitality, Natura Hue Chem, Vascon Engineers, and Sacheta Metals were among the 10 stocks that jumped over 10 per cent on the BSE.

7. Advance-decline ratio

Out of 4,377 stocks traded on the BSE, 1,919 advanced, while 2,275 declined. Some 183 stocks remained unchanged.

8. 146 stocks hit 52-week highs

As many as 146 stocks, including Usha Martin, Tata Investment Corporation, Supreme Petrochem, RBL Bank, Minda Corporation, and Indian Bank, hit their 52-week highs in intraday trade on the BSE.

9. 166 stocks hit 52-week lows

Five-Star Business Finance, Vedant Fashions, Praj Industries, and Ramkrishna Forgings were among the 166 stocks that hit their 52-week lows on the BSE.

10. Nifty's technical outlook

According to Shrikant Chouhan, the head of equity research at Kotak Securities, the Nifty formed a bearish candle on daily charts, and on intraday charts, it continues to show a lower top formation, which is largely negative.

Chouhan believes that the short-term market outlook is weak, but since it is oversold, a quick pullback rally is a strong possibility.

"For day traders, 24,800 would act as an immediate resistance zone. If the market successfully clears this level, it could bounce back up to 24,900-24,925. On the other side, below 24,600, the selling pressure is likely to accelerate. Below this level, it could retest the levels of 24,500–24,450," said Chouhan.

Ajit Mishra, SVP of research at Religare Broking, believes oversold positions may now lead to some consolidation in the Nifty. Strong support is around the 24,400–24,500 zone, and resistance is placed at 24,800–25,000.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.