HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Volatility continues to hit Indian markets in early afternoon deals
Oct-03-2025

Volatility continued to hit Indian equity markets in early afternoon deals, with selling in Realty, Energy and Oil & Gas counters. Maruti Suzuki was among the major losers on the BSE, followed by Tech Mahindra and Ultratech Cement. Traders failed to get any sense of relief, from Finance Minister Nirmala Sitharaman’s statement that India's capacity to absorb external shocks is strong at a time when the world economy is undergoing a structural transformation. She also noted that the task before nations is not only to manage uncertainty but to confront trade, financial and energy imbalances.

On the global front, Asian markets were trading mostly in green, after Japan's service sector activity strengthened in September as there were steep increases in both business activity and new orders. The final purchasing managers' survey data from S&P Global showed that the final services Purchasing Managers' Index rose to 53.3 in September from 53.1 in August. A score above 50 indicates expansion. The flash reading was 53.0.

The BSE Sensex is currently trading at 80923.88, down by 59.43 points or 0.07% after trading in a range of 80649.57 and 81056.57. There were 11 stocks advancing against 19 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.30%, while Small cap index up by 0.53%.

The top gaining sectoral indices on the BSE were Metal up by 2.34%, Basic Materials up by 1.15%, PSU up by 0.66%, Industrials up by 0.59% and Utilities up by 0.56%, while Realty down by 0.58%, Energy down by 0.38%, Oil & Gas down by 0.35%, Auto down by 0.28% and Healthcare down by 0.28% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Steel up by 3.85%, Power Grid up by 2.19%, Kotak Mahindra Bank up by 1.78%, Axis Bank up by 1.39% and Bharat Electronics up by 1.03%. On the flip side, Maruti Suzuki down by 1.14%, Tech Mahindra down by 1.02%, Ultratech Cement down by 0.98%, Bajaj Finserv down by 0.90% and Sun Pharma down by 0.86% were the top losers.

Meanwhile, Reserve Bank of India (RBI) Governor Sanjay Malhotra has said that falling inflation has created space for rate cut but looming uncertainties and lack of full transmission of the past monetary measures prompted the central bank to opt for status quo in the bimonthly policy. He elaborated that in June, he had used the phrase ‘limited space’ for cuts whereas the statement on October 1 dropped the word ‘limited’ to say that there exists space for a reduction. He said lack of full transmission of the previous reductions of over 100 basis points, uncertainties on the global front and the unfolding impact of the GST rationalization led the rate setting panel to opt for a status quo. 

On the growth front, the Governor said the Q1 number has positively surprised but there are headwinds in the second half of the fiscal and this is the reason for the marginal dip in the real GDP growth estimate for Q3 and Q4. He said challenges on the growth front will come primarily because of the US tariffs, and added that the RBI's upward revision in real GDP growth estimate to 6.8 per cent for FY26 assumes a 50 per cent impact on Indian goods. He enlisted gems and jewellery, shrimps, textile, pharmaceuticals and footwear as the sectors which will have maximum impact of the decision. 

However, he said India is a domestic demand driven economy and the overall impact of the tariffs will be limited. He also hoped that the government will undertake all efforts to counter the headwinds, and added that negotiations with the US are still on. He said apart from the US trade negotiations, parleys are also underway to have bilateral pacts with other countries which will help India. He expects growth to be resilient and hopes to maintain the trajectory on growth while maintaining price stability, which is RBI's core objective. 

The CNX Nifty is currently trading at 24814.45, down by 21.85 points or 0.09% after trading in a range of 24747.55 and 24855.70. There were 17 stocks advancing against 32 stocks declining, while 1 stock remained unchanged on the index.

The top gainers on Nifty were Tata Steel up by 3.87%, Hindalco up by 2.46%, Power Grid up by 2.08%, Kotak Mahindra Bank up by 1.91% and JSW Steel up by 1.81%. On the flip side, Max Healthcare Inst down by 3.83%, Coal India down by 1.67%, SBI Life Insurance down by 1.63%, Maruti Suzuki down by 1.05% and Tech Mahindra down by 1.01% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 822.27 points or 1.8% to 45,759.00, Taiwan Weighted added 382.67 points or 1.43% to 26,761.06, Jakarta Composite gained 21.02 points or 0.26% to 8,092.10, and Straits Times rose 13.72 points or 0.31% to 4,408.93, while Hang Seng declined 247.12 points or 0.91% to 27,040.00.
  RELATED NEWS >>
Most Viewed >>
September 19 , 2025
Amfi asks MF Central to stop sharing investor
September 22 , 2025
Nippon India Growth Mid Cap Fund: Running with
October 01 , 2025
Equity market will weather tariff volatility b
October 01 , 2025
Zerodha Fund House debuts on ONDC to simplify
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.