The Indian stock market ended a volatile session on a flat note Monday, breaking a six-day losing streak as investors turned cautious ahead of the Reserve Bank of India's (RBI) monetary policy meeting. A late-session recovery, driven by gains in PSU banks and the oil & gas sector, helped the indices pare early losses, but the overall market sentiment remained subdued amid continued foreign fund outflows.
The S&P BSE Sensex closed with a marginal loss of 61.52 points (0.08%) at 80,364.94. The NSE Nifty 50 also ended slightly lower, dropping 19.80 points (0.08%) to settle at 24,634.90.
Key Market Highlights
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Sensex: Closed at 80,364.94, down 62 points.
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Nifty 50: Ended the session just below the 24,650 mark.
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Market Sentiment: The market was caught in a tug-of-war between bargain hunting at lower levels and caution ahead of the RBI's interest rate decision. The central bank's Monetary Policy Committee (MPC) began its three-day meeting today.
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Broader Markets: The broader markets showed a mixed trend, with the Nifty Midcap 100 index gaining 0.27%, while the Nifty Smallcap 100 slipped by 0.07%.
Top Gainers and Losers
Gains in financial services and consumer goods stocks were offset by losses in auto and some private banking heavyweights.
| Top Gainers |
Top Losers |
| Titan Company |
Axis Bank |
| State Bank of India (SBI) |
Maruti Suzuki |
| Trent |
Bharti Airtel |
| NTPC |
ICICI Bank |
| Wockhardt |
Dr. Reddy's Laboratories |
Sectoral Performance
PSU Banks and Oil & Gas sectors were the top performers, while auto and pharma stocks dragged.
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Top Gainers: The Nifty PSU Bank and Nifty Oil & Gas indices were the standout performers, each rising over 1%.
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Top Losers: The Nifty Auto and Nifty Pharma indices were the main laggards, ending with losses of around 0.15% to 0.18%.
Major News and Stock-Specific Action
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Pharma Stocks Rebound on Tariff Clarification: The pharmaceutical sector saw a significant rebound after last week's sharp fall. The recovery was fueled by a clarification from the White House, which exempted pharma imports from nations with existing trade pacts from the new tariff regime. This led to a surge in stocks like Wockhardt, which rallied nearly 10%.
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BEL Continues to Gain: Shares of defence PSU Bharat Electronics (BEL) continued their upward momentum, rising by 2.85%.
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HUL Slips on Sales Warning: Shares of Hindustan Unilever (HUL) declined after the company warned of flat-to-low sales growth due to the impact of recent GST reforms.
IPO Market Update
September has been a blockbuster month for the primary market, with a record number of initial public offerings (IPOs) hitting the street.
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Post-Listing Performance: While the month saw 11 new listings, their performance after the initial debut has been mixed. According to recent data, about half of these newly listed companies, including Dev Accelerator, VMS TMT, and iValue Infosolutions, are now trading below their issue price.
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Upcoming IPOs: The IPO pipeline remains robust, with several companies like Glottis, Fabtech Technologies, and Om Freight lined up for public issues.
Global Market Summary
Global markets started the week on a cautious note as investors braced for a potential U.S. government shutdown, which could delay key economic data releases.
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Asian & European Markets: Asian markets were mixed, while European markets traded with modest gains. U.S. markets had closed higher on Friday.
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FII Selling Continues: Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹5,687 crore on Friday, adding to the pressure on the market. In contrast, Domestic Institutional Investors (DIIs) provided support with net purchases of ₹5,843 crore.
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Crude Oil: Brent crude, the global oil benchmark, saw a decline of 1.25% to trade at $69.25 per barrel.
Frequently Asked Questions (FAQs)
Why did the market end on a flat note today?
The market's flat close was due to a volatile session where investors remained cautious ahead of the RBI's monetary policy decision. While there was some recovery in sectors like PSU Banks, continued selling by foreign investors and weakness in auto stocks capped the gains.
What was the biggest positive news for the market today?
The biggest positive was the rebound in pharmaceutical stocks. This came after a clarification from the White House that exempted pharma imports from certain nations from the new, steep tariffs, easing investor concerns.
What is the key domestic event investors are watching this week?
The primary domestic focus is on the RBI's monetary policy decision, which is scheduled to be announced on Wednesday, October 1. While the central bank is expected to keep rates unchanged, its commentary on inflation and growth will be closely watched.
How has the recent IPO boom performed?
September was a record month for IPOs with 11 new listings. However, their post-listing performance has been a mixed bag, with about half of the stocks now trading below their issue prices, highlighting the risks for IPO investors.