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Weak trade persists over Dalal Street
Sep-22-2026

A weak trade persisted over the Dalal Street in early afternoon deals, despite positive cues from other Asian markets. Both Sensex and Nifty were trading lower, with selling pressure emerging after the initial uptick. The decline was led mainly by IT stocks, with HCL Technologies, Tech Mahindra and Infosys among the notable drags. Investors were also booking profits after the recent gains in the benchmark indices.

On the global front, Asian markets were trading mostly in green, as easing crude oil prices allayed concerns about global inflation and the corresponding outlook for interest rates. 

The BSE Sensex is currently trading at 74657.21, down by 201.78 points or 0.27% after trading in a range of 74596.39 and 75038.93. There were 9 stocks advancing against 20 stocks declining, while 1 stock remained unchanged on the index.

The top gaining sectoral indices on the BSE were Telecom up by 1.01%, Realty up by 0.74%, Consumer Disc up by 0.44%, Utilities up by 0.35% and Power up by 0.21%, while IT down by 1.06%, TECK down by 0.79%, FMCG down by 0.53%, Bankex down by 0.31% and Healthcare down by 0.27% were the top losing indices on BSE.

The top gainers on the Sensex were Titan Company up by 1.48%, Eternal up by 0.90%, Interglobe Aviation up by 0.77%, HDFC Bank up by 0.54% and Adani Ports & SEZ up by 0.45%. On the flip side, HCL Technologies down by 1.57%, Infosys down by 1.50%, Tech Mahindra down by 1.33%, TCS down by 1.23% and Sun Pharma down by 1.12% were the top losers.

Meanwhile, Indian Steel Association President Naveen Jindal has noted that India's lower per capita steel consumption compared to the global average leaves ample headroom for domestic output to be absorbed locally. He added that the country’s per capita steel consumption is significantly lower at around 107 kg annually compared to the world average of 220 kg. 

About protectionist measures being taken by various countries creating headwinds for Indian steel players, he said that India is a very big market in itself and there is a huge scope to grow. He added that the government has set a target of producing 300 million tonnes (MT) by 2030 and is working on infra all over the country. India's crude steel output has grown by over 10.7% year-on-year to around 168.4 MT during April to March period of 2026.

On carbon emissions, he said that the domestic steel sector is taking multiple measures to reduce carbon emissions to help India meet net zero goals as set by the government. Amid West Asia crisis, he highlighted that the country has enough sources of energy despite being dependent on fuel. He added that the country is doing very well as compared to other large economies.

The CNX Nifty is currently trading at 23358.00, down by 56.30 points or 0.24% after trading in a range of 23341.50 and 23489.00. There were 19 stocks advancing against 30 stocks declining, while 1 stock remained unchanged on the index

The top gainers on Nifty were Coal India up by 3.01%, Titan Company up by 1.21%, Dr. Reddy's Labs. up by 1.11%, Eternal up by 1.03% and Adani Enterprises up by 0.82%. On the flip side, HCL Technologies down by 1.57%, Infosys down by 1.33%, Cipla down by 1.31%, Bajaj Auto down by 1.31% and Tech Mahindra down by 1.25% were the top losers.

Asian markets were trading mostly in green; KOSPI increased 10.19 points or 0.15% to 7,017.91, Taiwan Weighted added 81.33 points or 0.17% to 47,800.17, Hang Seng advanced 13.29 points or 0.05% to 25,056.00, Straits Times rose 54.62 points or 0.96% to 5,729.85 and Shanghai Composite strengthened 2.22 points or 0.06% to 3,952.13, while Jakarta Composite plunged 80.85 points or 1.27% to 6,303.88.
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