HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Key gauges fall for second consecutive day
Sep-29-2026

Indian equity benchmarks erased most of their initial losses but ended lower for the second consecutive session on Tuesday as elevated crude oil prices triggered by uncertainty over the West Asia situation and foreign fund outflows weighed on investor sentiment. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,353.22 crore on Monday, according to exchange data. 

Both the indices, Sensex and Nifty, closed in negative territory weighed down by selling pressure in Consumer Durables, Realty and IT stocks. Gains in Telecom and Metal stocks helped cushion the decline. Adding to the worries, the unprecedented pace of IPO fundraising is absorbing incremental liquidity. 

Some of the important factors in trade: 

India’s industrial growth rises to 8.0% in August: The Ministry of Statistics and Programme Implementation (MoSPI) in its quick estimates has shown that industrial growth rose to 8.0 percent in the month of August 2026 (Base 2022-23=100) from a revised growth of 7.4 percent in July 2026 led by robust growth in manufacturing and electricity generation. 

India, UAE to deepen trade, investment ties; target $200 billion trade by 2032: With an aim to increase two-way commerce to $200 billion by 2032, India and the UAE have agreed to take steps for the timely implementation of initiatives relating to settlement of trade in local currencies, integration of payment and messaging systems, and central-bank digital currencies.

India's merchandise exports increase by 15% up to September 21 this fiscal: Commerce and Industry Minister Piyush Goyal has said that India's merchandise exports increased by 15 per cent up to September 21 in the current financial year (FY27) despite global economic uncertainties stemming from the ongoing US-Iran conflict. 

India’s renewable energy sector to witness sharp rise in BESS deployment: Crisil Ratings in its latest report has said that India’s renewable energy (RE) sector is expected to witness a sharp rise in battery energy storage system (BESS) deployment, with 45-50 GWh of capacity likely to be commissioned over the current and next fiscals, compared with around 1 GWh as of last fiscal. 

Global front: European markets were trading higher supported by gains in technology stocks, although higher oil prices and elevated bond yields limited the advance. Asian markets ended mostly lower following the broadly negative cues from Wall Street overnight, amid a substantial rebound in both crude oil prices and bond yields, renewing concerns about the outlook for global inflation and interest rates. 

Finally, the BSE Sensex fell 242.65 points or 0.33% to 72,529.07 and the CNX Nifty was down by 64.05 points or 0.28% to 22,716.20.

The BSE Sensex touched high and low of 72,684.90 and 72,064.00, respectively. There were 12 stocks advancing against 18 stocks declining on the index. 

The top gaining sectoral indices on the BSE were Telecom up by 1.35%, Metal up by 0.86%, Healthcare up by 0.27%, Utilities up by 0.19% and Industrials up by 0.12%, while Consumer Durables down by 1.97%, Realty down by 1.49%, IT down by 1.28%, Auto down by 1.08% and FMCG down by 0.85% were the top losing indices on BSE.

The top gainers on the Sensex were Adani Ports &SEZ up by 1.63%, Tata Steel up by 1.13%, Kotak Mahindra Bank up by 0.97%, NTPC up by 0.86% and Bharti Airtel up by 0.65%. On the flip side, Titan Company down by 2.58%, HCL Technologies down by 2.05%, Infosys down by 1.79%, Bajaj Finance down by 1.68% and TCS down by 1.62% were the top losers.

Meanwhile, Crisil Ratings in its latest report has said that India’s renewable energy (RE) sector is expected to witness a sharp rise in battery energy storage system (BESS) deployment, with 45-50 GWh of capacity likely to be commissioned over the current and next fiscals, compared with around 1 GWh as of last fiscal. The growth will be supported by a strong pipeline of projects under implementation and continued policy support. It said capacity additions could have been even higher; however, nearly 8-9 GWh of awarded capacity faces a higher risk of delay, somewhat moderating the overall deployment outlook.

The analysis report which covers bids awarded between fiscals 2024 and 2026 across nearly 100 RE developers, has further noted that the growing need for storage is a direct consequence of the rising share of RE to around 39% of India's installed power generation capacity and around 15% of energy generated last fiscal. However, by nature, the RE generation is intermittent which has increased the need for firm and peak-hour power supply. This has elevated the importance of energy storage solutions, particularly BESS. The requirement is especially acute for solar projects because electricity demand typically peaks in the evening, when solar generation is negligible. BESS can address this mismatch by storing surplus solar power during periods of high generation and supplying it during periods of elevated demand.

As per the report, in line with its objective of integrating a larger share of RE into the national power grid in a sustainable manner, the government has accelerated storage-linked auctions. Projects incorporating BESS accounted for nearly 40% of total auctioned capacity in fiscal 2026, up sharply from about 5% in fiscals 2024 and 2025. As a result, 50-55 GWh of BESS capacity is scheduled for commissioning across fiscals 2027 and 2028. Of this, around 40 GWh has been awarded through government-led auctions, where distribution utilities are the offtakers, while the remaining 10-15 GWh is expected to serve commercial and industrial consumers directly or be deployed in the merchant market.

CNX Nifty touched high and low of 22,753.25 and 22,569.65, respectively. There were 17 stocks advancing against 32 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were Adani Enterprises up by 5.01%, Adani Ports &SEZ up by 4.49%, BSE up by 3.31%, Dr. Reddy's Labs. up by 2.53% and Sun Pharma up by 1.47%. On the flip side, Titan Company down by 3.00%, HCL Technologies down by 2.44%, Apollo Hospital down by 2.27%, Tech Mahindra down by 2.06% and Bajaj Auto down by 1.93% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 39.44 points or 0.37% to 10,724.32, France’s CAC rose 6.22 points or 0.08% to 8,084.70 and Germany’s DAX gained 172.58 points or 0.68% to 25,547.00. 

Asian markets ended mostly lower on Tuesday tracking Wall Street’s fall overnight. Further, concerns surrounding elevated global bond yields, rising inflation and interest rate overhang have weighed on investor sentiments. Besides, market participants remained cautious as tensions between US and Iran showed no sign of easing. Private reports indicated that Iranians are pessimist about reaching a diplomatic deal with US before the US midterm elections on November 3, 2026. However, Chinese market gained following a cabinet pledge from the State Council to step up counter-cyclical policy support. Meanwhile, trading in China remained thin ‌as it prepares for its annual National Day Golden Week holiday running from October 1 to 7, 2026.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,830.45

6.83

0.18

Hang Seng

24,523.57

-118.94

-0.48

Jakarta Composite

6,121.70

-26.16

-0.43

KLSE Composite

1,643.96

-26.06

-1.56

Nikkei 225

65,481.27

-396.35

-0.60

Straits Times

5,714.84

-14.18

-0.25

KOSPI Composite

6,870.81

-18.93

-0.27

Taiwan Weighted

47,631.96

-392.64

-0.82
  RELATED NEWS >>
Most Viewed >>
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.