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Bears take full control over Dalal Street in late trade
Sep-28-2026

Benchmarks have expended losses in late afternoon session as continued surge in crude price and bond yields spooked the market participants. The Brent crude oil prices have surged past $107 a barrel mark after US President Donald Trump rejected Iran's proposal to reopen the Strait of Hormuz. He has also threatened to attack Iran after US mid-term elections. Besides, persistent capital outflows from foreign institutional investors (FIIs) have weighed on investor sentiment. FIIs were the net sellers in Friday’s session, offloading securities worth Rs 3,693.93 crore. 

On the global front, Asian equity markets were trading mostly in red as ongoing tensions in Middle-East and hawkish signals from Federal Reserve policymakers have made traders nervous. European equity markets were trading higher despite the lacklustre economic data.

The BSE Sensex is currently trading at 72780.67, down by 1115.07 points or 1.51% after trading in a range of 72768.86 and 73740.85. There were 2 stocks advancing against 28 stocks declining on the index.

The top losing sectoral indices on the BSE were Power down by 2.38%, Telecom down by 2.29%, Utilities down by 2.25%, PSU down by 2.10% and Capital Goods down by 2.07%. Meanwhile, there were no gainers on BSE sectoral index.

The top gainers on the Sensex were Infosys up by 0.68% and Maruti Suzuki India up by 0.03%. On the flip side, Adani Ports &Special down by 2.37%, State Bank Of India down by 2.30%, Larsen & Toubro down by 2.22%, Hindustan Unilever down by 1.97% and Power Grid Corpn. down by 1.97% were the top losers.

Meanwhile, the Department for Promotion of Industry and Internal Trade (DPIIT) in its latest data has showed that the government has disbursed Rs 36,754 crore to beneficiary companies under the Production Linked Incentive (PLI) schemes since the launch in 2020 till June 30, 2026, with large-scale electronics manufacturing accounting for the biggest share at Rs 19,090.98 crore. It said that Rs 1,400 crore was disbursed under the schemes during the current fiscal year up to June 30. In the previous two financial years, the government disbursed Rs 15,519 crore in 2025-26 and Rs 10,114 crore in 2024-25. The government launched the schemes in 2020 for 14 sectors, with an approved outlay of Rs 1.91 lakh crore. The schemes aim to strengthen domestic manufacturing capabilities, attract investments, boost exports, create employment and reduce dependence on imports.

DPIIT said the pharma sector received Rs 6,662 crore in disbursals, while beneficiary companies in food products and automobiles and auto components received Rs 3,271.44 crore and Rs 3,174.15 crore, respectively, as of June 2026. Other disbursals included Rs 2,796 crore for telecom and networking products; Rs 593 crore for white goods; Rs 386 crore for textiles; Rs 236 crore for speciality steel; Rs 93 crore for drones and drone components; Rs 98 crore for IT hardware; and Rs 88 crore for bulk drugs beneficiary companies. There were no disbursals in the Advanced Chemistry Cell (ACC) battery sector. It further said that as on June 30, 2026, the schemes had attracted actual investments of over Rs 2.58 lakh crore and generated more than 14.57 lakh direct and indirect jobs along with Rs 36,754 crore of cumulative incentives disbursed so far. During the said period, the schemes also achieved Rs 23.79 lakh crore in production/sales and Rs 15.53 lakh crore in exports.

DPIIT data showed that cumulative investment across the 14 PLI sectors stood at Rs 2,58,835 crore as of June 2026. The highest investment was recorded in high-efficiency solar PV modules at Rs 73,437 crore, followed by pharmaceuticals at Rs 46,744 crore, automobiles and auto components at Rs 45,477 crore, and speciality steel at Rs 27,368 crore. Large-scale electronics manufacturing attracted Rs 20,580.20 crore, while investments in telecom and networking products stood at Rs 5,627 crore and bulk drugs at Rs 5,211 crore. Similarly, investments in textile products, including the MMF segment and technical textiles, stood at Rs 9,510 crore, followed by food products at Rs 9,207 crore, white goods at Rs 7,670 crore, ACC batteries at Rs 5,270 crore, medical devices at Rs 1,185 crore, IT hardware at Rs 954 crore, and drones and drone components at Rs 595 crore.

The CNX Nifty is currently trading at 22783.05, down by 357.45 points or 1.54% after trading in a range of 22781.35 and 23080.25. There were 2 stocks advancing against 48 stocks declining on the index.

The top gainers on Nifty were Dr. Reddy's Laboratories up by 1.75% and Infosys up by 0.19%. On the flip side, Adani Enterprises down by 3.18%, JIO Financial Services down by 3.03%, Adani Ports & SEZ down by 2.73%, State Bank Of India down by 2.69% and Tata Consumer Products down by 2.56% were the top losers.

Asian equity markets were trading mostly in red; Nikkei 225 slipped 134.2 points or 0.2% to 66,230.00, KOSPI dropped 191.18 points or 2.77% to 6,889.74, Shanghai Composite weakened 64.75 points or 1.69% to 3,823.62 and Jakarta Composite plunged 91.33 points or 1.48% to 6,150.56, while Hang Seng advanced 115.91 points or 0.47% to 24,626.00 and Straits Times rose 22.89 points or 0.4% to 5,734.01.

European equity markets were trading higher; UK’s FTSE 100 increased 47.89 points or 0.45% to 10,743.14, France’s CAC rose 10.3 points or 0.13% to 8,088.10 and Germany’s DAX gained 69.66 points or 0.27% to 25,478.30.
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