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Indices continue to face heavy selling pressure in late morning deals
Sep-28-2026

Domestic equity indices continued to face heavy selling pressure in late morning deals as market participants indulged in reducing their positions. Rising crude oil prices in international markets weighed on domestic market sentiment. Crude oil prices rose after U.S. President Donald Trump rejected an Iranian peace proposal aimed at ending the Middle East conflict and reopening the Strait of Hormuz. Further, depreciation in Indian rupee against dollar also weighed down sentiments. Rupee weakened by 22paise to 95.97 against the dollar at the Inter-bank Foreign Exchange market.

Both the Sensex and the Nifty were trading lower, declining by 1.37% and 1.43%, respectively, amid selling pressure in index-heavyweight stocks such as Reliance Industries, HDFC Bank, ICICI Bank, Tata Consultancy Services, Infosys, and Bharti Airtel. All the sectoral indices on the BSE were trading in the red, led by Bankex, Telecom, Capital Goods, Power, and Realty. On the global front, Asian markets were trading mostly in red amid continued uncertainty over the end of the U.S.-Iran conflict.

The BSE Sensex is currently trading at 72881.92, down by 1013.82 points or 1.37% after trading in a range of 72832.08 and 73740.85. All the 30 stocks were declining on the index.

The top losing sectoral indices on the BSE were Bankex down by 1.88%, Telecom down by 1.79%, Capital Goods down by 1.73%, Power down by 1.66% and Realty down by 1.65%, while there was no gaining sectoral index on the BSE. 

The top losers on the Sensex were HDFC Bank down by 2.00%, Hindustan Unilever down by 1.99%, Bharat Electronics down by 1.78%, Bajaj Finance down by 1.71% and State Bank of India down by 1.64%, while there was no gainer on the Sensex.

Meanwhile, Reserve Bank of India (RBI) in its article on 'State of the Economy' published in the latest Bulletin has said that India's financial and external sectors continue to draw strength from a resilient domestic economy. However, it flagged the escalating geopolitical tensions and weather-related uncertainties as the key risks. It noted that the renewed conflict between US and Iran in September has pushed up crude oil prices sharply, raising the prospect of fresh supply-chain disruptions and renewed inflationary pressures. Alongside, the rise in sovereign yields in some of the major advanced economies has put pressure on government finances.

Notwithstanding the ongoing global turbulence, the article said the Indian economy recorded robust growth of 7.8 per cent in Q1:2026-27, driven by domestic consumption and investment. It further said system liquidity remained in surplus in August and surged further in the first half of September as banks tapped the Reserve Bank's Foreign currency non-resident (Bank) [FCNR(B)] swap facility, before moderating later in the month due to tax-related outflows. It said money supply growth accelerated in August on account of a rapid increase in aggregate deposits. Credit growth maintained its momentum while deposit growth picked up.

According to the article, Indian equity markets remained subdued in August and September as geopolitical tensions and elevated bond yields weighed on investor sentiment. The current account deficit remained moderate in Q1:2026-27, supported by robust services exports and remittance flows. It said foreign direct investment (FDI) flows strengthened in July with net FDI reaching its highest monthly level in five years, and added that net inflows under non-resident deposits rose sharply. Various capital flow measures announced in June supported the accumulation of foreign exchange reserves, which rose to $765.9 billion as of September 18, 2026. On the other hand, the article said, foreign portfolio investment (FPI) registered net outflows in September after witnessing inflows in August, on re-escalation of the West Asia crisis and rising global bond yields. 

The CNX Nifty is currently trading at 22810.60, down by 329.90 points or 1.43% after trading in a range of 22807.55 and 23080.25. There was 1 stock advancing against 49 stocks declining on the index.

The only gainer on Nifty was Dr. Reddy's up by 1.45%. On the flip side, Adani Enterprises down by 2.67%, Tata Consumer down by 2.40%, Bharat Electronics down by 2.29%, Tata MotorsPassenger down by 2.15% and HDFC Bank down by 2.08% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 144.2 points or 0.22% to 66,220.00, Jakarta Composite plunged 60.46 points or 0.98% to 6,181.43, Shanghai Composite weakened 75.96 points or 1.95% to 3,812.41, KOSPI dropped 170.79 points or 2.41% to 6,910.13 However, Hang Seng advanced 113.91 points or 0.46% to 24,624.00 and Straits Times rose 36.23 points or 0.63% to 5,747.35.
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