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Weak trade persists during late afternoon deals
Oct-01-2026

Benchmarks have extended their losses in late afternoon session as surge in crude prices and a long-weekend fueled risk-off sentiment. Brent crude oil prices have surged past the $100 per barrel mark after US President Donald Trump threatened to attack Iran. Besides, persistent capital outflows from foreign institutional investors (FIIs) and rupee weakening by 30 paise against the US dollar to trade at 96.24 have weighed on trading sentiments. FIIs were the net sellers on Wednesday, offloading securities worth Rs 10,148.41 crore. However, market have recovered from their day’s lowest point as market participants remained optimistic after HSBC India Manufacturing Purchasing Managers’ Index (PMI) indicated strong momentum in the country’s manufacturing sector in September. The seasonally adjusted HSBC India Manufacturing PMI jumped from 52.8 in August to 55.1 in September. 

While both the Nifty and Sensex were trading deep in red, Nifty suffered more losses amid continued weakness in insurance and hospital stocks. Meanwhile, Auto stocks came under pressure as their September sales numbers failed to match market expectation. 

On the global front, Asian equity markets were trading mostly in green as softer-than-expected US inflation data eased worries over US Fed rate hike this month.  European equity markets were trading lower amid escalating tensions in Middle East.

The BSE Sensex is currently trading at 71745.84, down by 734.45 points or 1.01% after trading in a range of 71292.88 and 72572.90. There were 4 stocks advancing against 26 stocks declining on the index.

The gaining sectoral indices on the BSE were IT up by 1.13%, TECK up by 0.59% and Telecom up by 0.39%, while Auto down by 3.43%, Metal down by 2.79%, Basic Materials down by 2.39%, Consumer Disc down by 2.36% and Utilities down by 2.00% were the top losing indices on BSE.

The top gainers on the Sensex were Infosys up by 0.90%, HDFC Bank up by 0.61%, Kotak Mahindra Bank up by 0.23% and HCL Technologies up by 0.16%. On the flip side, Maruti Suzuki India down by 5.01%, Mahindra & Mahindra down by 4.53%, Tata Steel down by 4.03%, Adani Ports &Special down by 3.41% and ITC down by 3.15% were the top losers.

Meanwhile, the Reserve Bank of India (RBI) in its latest data has showed that bank credit to industry grew 18.2 per cent year-on-year (y-o-y) by the end of August 2026, a sharp acceleration from 7 per cent recorded in the corresponding period last year. Non-food bank credit accelerated 18.8 per cent y-o-y in the fortnight ended August 31, 2026, as compared to 10.2 per cent during the corresponding fortnight of the previous year (September 5, 2025).  Credit to agriculture and allied activities also strengthened, growing 17.2 per cent against 7.6 per cent a year earlier. 

According to the data, loans to the services sector registered a growth rate of 24.3 per cent y-o-y as compared to 10.3 per cent in the corresponding fortnight of the previous year, supported by robust growth in segments such as non-banking financial companies (NBFCs), trade, professional services and commercial real estate. Credit to personal loans segment also maintained strong momentum, recording a 16.9 per cent year-on-year growth as against 11.9 per cent a year ago.

The RBI said while credit to large and medium industries grew at an accelerated pace, micro and small industries sustained steady expansion. Among major industries, credit to infrastructure, all engineering, basic metal and metal products, chemical and chemical products, food processing, textiles, construction and petroleum, coal products and nuclear fuels exhibited buoyant year-on-year growth. While segments such as housing and vehicle loans sustained double-digit growth, credit card outstanding and loans against gold jewellery decelerated.

The CNX Nifty is currently trading at 22358.45, down by 262.00 points or 1.16% after trading in a range of 22217.30 and 22610.60. There were 10 stocks advancing against 40 stocks declining on the index.

The top gainers on Nifty were Infosys up by 2.95%, HDFC Life Insurance up by 2.30%, HDFC Bank up by 1.16%, TCS up by 1.10% and HCL Technologies up by 0.96%. On the flip side, Bajaj Auto down by 7.59%, Maruti Suzuki India down by 4.86%, Shriram Finance down by 4.48%, Mahindra & Mahindra down by 3.91% and Tata Steel down by 3.90% were the top losers.

Asian equity markets were trading mostly in green; Nikkei 225 surged 2201.28 points or 3.19% to 68,955.00, Taiwan Weighted added 413.36 points or 0.85% to 48,353.49 and KOSPI increased 133.31 points or 1.91% to 6,971.35, while Jakarta Composite plunged 53.54 points or 0.89% to 6,017.60. Meanwhile, Chinese and Hong Kong markets remained closed on account of holiday.

European equity markets were trading lower; UK’s FTSE 100 decreased 164.8 points or 1.58% to 10,441.20, France’s CAC fell 115.41 points or 1.45% to 7,849.10 and Germany’s DAX lost 204.89 points or 0.81% to 24,994.30.
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