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EQUITY
Key gauges end lower; Telecom, IT cushion losses
Sep-11-2026

Indian equity benchmarks erased most of their initial losses but ended lower on Friday as escalating West Asia tensions weighed on market sentiment and raised inflation concerns. Foreign fund outflows also dented investors' sentiment. Exchange data showed Foreign Institutional Investors (FIIs) remained net sellers on September 10, 2026, with a net outflow of Rs 438.24 crore.

Both Sensex and Nifty ended lower amid broad-based selling in heavyweight stocks. Realty stocks remained the biggest drag, with Metal and Basic Materials also under pressure. The markets, however, managed to recover from day’s lows following a drop in crude oil prices and value buying in select sectors, particularly Telecom, IT and TECK. 

Some of the important factors in trade: 

New IIP, PPI series should improve accuracy of GDP estimates: Amid the ongoing debate over the credibility of India’s latest GDP estimates, the International Monetary Fund (IMF) has welcomed the country’s efforts to modernise its statistical framework, and said that the incorporation of a new Index of Industrial Production (IIP) and Producer Price Index (PPI) series should help improve the accuracy of GDP estimates. 

India, Russia fast-tracking negotiations for new bilateral investment treaty: Commerce and Industry Minister Piyush Goyal has said that India and Russia are fast-tracking negotiations for a new bilateral investment treaty (BIT) aimed at providing greater legal certainty to investors on both sides. 

India’s organised apparel retail sector expected to grow by 12-13% in FY27: Crisil Ratings in its latest report has said that India’s organised apparel retail sector is expected to grow by 12-13 percent this fiscal (FY27), moderating from the 15 per cent growth recorded in the previous year, as consumers increasingly spread discretionary spending across categories beyond clothing. 

India aims to lead 6G race, global design tech standards: The Union Communications Minister Jyotiraditya Scindia has said that India aims to lead the world in the upcoming sixth-generation mobile technology and become a designer of global technology standards. 

Global front: European markets were trading higher as data showed the U.K. economy expanded at a faster pace in July, driven by services and industrial production. Asian markets settled mostly lower as inflation and interest rate worries weighed on markets after Brent crude prices jumped to their highest level since May on escalating Middle East tensions.

Finally, the BSE Sensex fell 120.83 points or 0.16% to 74,781.76 and the CNX Nifty was down by 79.70 points or 0.34% to 23,398.10.    

The BSE Sensex touched high and low of 74,917.15 and 74,160.16, respectively. There were 11 stocks advancing against 19 stocks declining on the index.            

The top gaining sectoral indices on the BSE were Telecom up by 1.00%, IT up by 0.29%, TECK up by 0.25% and Bankex up by 0.10%, while Realty down by 2.69%, Metal down by 2.40%, Basic Materials down by 1.61%, Energy down by 1.06% and Utilities down by 1.00% were the losing indices on BSE.

The top gainers on the Sensex were HDFC Bank up by 2.13%, Tech Mahindra up by 1.37%, HCL Technologies up by 1.30%, ITC up by 0.97% and Trent up by 0.73%. On the flip side, Tata Steel down by 1.75%, NTPC down by 1.31%, Mahindra & Mahindra down by 1.15%, Bajaj Finance down by 1.05% and Power Grid down by 1.05% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has said that India and Russia are fast-tracking negotiations for a new bilateral investment treaty (BIT) aimed at providing greater legal certainty to investors on both sides. He said that both sides are committed to the early conclusion of negotiations for an India-Eurasian Economic Union (EAEU) free trade agreement. The Russia-led EAEU also includes Armenia, Belarus, Kazakhstan and Kyrgyzstan. He said the pact would open new markets for industries including MSMEs. 

The minister also called for an accelerated India-Russia economic and industrial partnership, urging businesses from both countries to work towards achieving the target of $100 billion in bilateral trade and $50 billion in two-way investment by 2030. At present, the bilateral trade stood at $60 billion. He said reaching the $100 billion target would require adding about $40 billion in trade over the next four years and sustained double-digit growth year-on-year. He stressed that achieving this would require significant efforts not only from the governments but equally from businesses in both countries.

Highlighting the opportunities for diversifying bilateral trade, he said that Indian exports of meat and edible meat products had more than doubled from $36 million to $97 million, an increase of nearly 170 per cent. Fish and aquatic products grew from $123 million to $159 million, an increase of nearly 30 per cent, while exports of edible vegetables rose from $38 million to $54 million, an increase of 40 per cent. Similarly, shipments of coffee, tea and spices increased by 13 per cent to $116 million, while products of the milling industry had nearly doubled. He said these figures reflected growing demand in the Russian market for products from Indian farmers, food processors, micro, small and medium enterprises and MSME exporters. However, he noted that only a small portion of the potential had been tapped so far.

CNX Nifty touched high and low of 23,448.10 and 23,231.40, respectively. There were 12 stocks advancing against 37 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were HDFC Bank up by 2.08%, Dr. Reddy's Labs. up by 1.97%, Tech Mahindra up by 1.00%, HDFC Life Insurance up by 0.73% and Wipro up by 0.66%. On the flip side, Hindalco Industries down by 3.21%, JSW Steel down by 2.99%, Eicher Motors down by 2.17%, Tata Steel down by 2.02% and ONGC down by 2.01% were the top losers. 

European markets were trading higher; UK’s FTSE 100 increased 69.57 points or 0.66% to 10,678.49, France’s CAC rose 51.64 points or 0.63% to 8,168.40 and Germany’s DAX gained 198.15 points or 0.78% to 25,559.30.

Asian markets settled mostly lower on Friday tracking Wall Street's overnight fall as markets faced heavy selling pressure due to inflation worries after Brent crude prices jumped to their highest level since May on escalating Middle East tensions. Market sentiments weakened further as Global bond yields surged toward multi-year highs ahead of US CPI report and after Thursday's PPI data showed wholesale prices picked up last month, strengthening expectations for a Federal Reserve rate hike next week. Further, Japanese Nikkei fell amid rising expectations that Bank of Japan may raise its benchmark interest rate by 25 basis points to 1.25% at its upcoming policy meeting next week. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,888.11

-46.29

-1.18

Hang Seng

24,805.63

-148.84

-0.60

Jakarta Composite

6,541.38

-47.96

-0.73

KLSE Composite

1,686.74

-18.78

-1.10

Nikkei 225

64,011.34

-1,259.61

-1.93

Straits Times

5,695.93

6.18

0.11

KOSPI Composite

6,909.91

-124.01

-1.76

Taiwan Weighted

46,184.85

-755.64

-1.61
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