India Market Daily — 2026-09-29
Indian markets ended lower for the second consecutive day on September 29, with Nifty 50 falling 0.28% to 22,716.20 and Sensex declining 0.33% to 72,529.07. FIIs executed their biggest single-day sell-off in six months (₹9,980.22 crore), citing elevated crude oil prices and geopolitical tensions, while DIIs remained net buyers, providing some support to the benchmark indices.
India Market Daily — 2026-09-29
Market Snapshot
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 22,716.20 | -64.05 | -0.28% |
| Sensex | 72,529.07 | -242.65 | -0.33% |
| Bank Nifty | 17,346 | -67 | -0.39% |
| Nifty IT | (Lower) | (Negative) | (Negative) |
| Nifty Pharma | (Higher) | (Positive) | (Positive) |
moneycontrol.com
moneycontrol.com
SENSEX >> BSE Sensex, Sensex Index, Live Sensex Index, Sensex Stocks
Taking Stock: Nifty ends below 22,750 amid expiry day volatility; Sensex sheds 242 pts- Moneycontrol
FII & DII Trading Activity in Cash, Futures and Options, OI Participants, MF SEBI & FII SEBI Daily T
FIIs post biggest single-day sell-off in six months; DIIs remain net buyers on September 29- Moneyco
moneycontrol.com
Top Gainers & Losers
Gainers
- Dr Reddy's Labs — Top Nifty gainer amid broader weakness
- NTPC — Among key gainers on the day
- Tata Steel — Metal sector strength
- Adani Enterprises — Strong performance despite FII selling
- Adani Ports — Infrastructure sector support
Losers
- Titan Company — Largest Nifty loser; consumer discretionary under pressure
- Eternal — Among top decliners
- HCL Technologies — IT sector weakness
- HDFC Life — Financial sector drag
- Infosys — IT sector underperformance
FII & DII Activity
| Category | Net Buy/Sell (₹ Cr) | Trend |
|---|---|---|
| FII (Foreign) | -9,980.22 | Aggressive selling — biggest single-day sell-off in six months |
| DII (Domestic) | Positive | Net buyers, providing cushion against FII outflows |
The acceleration of FII selling has been pronounced in the final week of September: ₹3,693.93 crore sold on Sept 25, ₹5,353.22 crore on Sept 28, and ₹9,980.22 crore on Sept 29. This indicates mounting foreign investor concern over elevated crude oil prices and geopolitical tensions affecting emerging market sentiment. DIIs countered the sell-off, suggesting domestic confidence remains relatively intact despite short-term headwinds.
moneycontrol.com
moneycontrol.com
SENSEX >> BSE Sensex, Sensex Index, Live Sensex Index, Sensex Stocks
Taking Stock: Nifty ends below 22,750 amid expiry day volatility; Sensex sheds 242 pts- Moneycontrol
FII & DII Trading Activity in Cash, Futures and Options, OI Participants, MF SEBI & FII SEBI Daily T
FIIs post biggest single-day sell-off in six months; DIIs remain net buyers on September 29- Moneyco
moneycontrol.com
Sector Performance
- Banking: Bank Nifty fell 0.39%; banking stocks faced headwinds amid macro uncertainty
- IT: Weakness persisted with HCL Tech and Infosys among top losers; IT sector underperformance continues
- Pharma: Among the few sectors ending positive, showing relative resilience
- Metal: Tata Steel and other metal stocks gained, supported by global demand outlook
- Media: One of the few sectors posting gains alongside metal and pharma
- Auto: Sharp declines; auto sector among the weakest; Bajaj Finance among top drags
- Realty: Nifty Realty index down 2%, with property stocks tanking amid broader market sell-off
IT and Auto sectors lagged significantly while Metal and Pharma provided relative support. The broad-based weakness reflects FII outflows and macro concerns overriding sectoral strength.
Key Market Movers
Crude Oil Surge Weighs on Equities: Brent crude prices surged amid escalating US-Iran geopolitical tensions, pushing crude to elevated levels. This sharp rise in energy costs has triggered significant FII outflows and pressured the broader market, particularly hurting sectors sensitive to input costs.
Expiry Day Volatility: September 29 marked the monthly F&O expiry, which contributed to heightened volatility and position squaring. The Nifty closed below the 22,750 level amid expiry-driven trading activity, with 1,871 shares advancing while 2,321 declined.
RBI Rate Hike Expectations Build: Economists and analysts increasingly expect the Reserve Bank of India to raise the repo rate by 25 basis points in October, driven by broadening inflation (particularly food and energy prices), robust economic growth, and synchronized global central bank tightening. This expectation adds headwinds for equity valuations.
Macro & Global Cues
- Crude Oil: Brent crude surged amid US-Iran tensions, with no near-term resolution expected. The price spike has become a key market headwind, pressuring both equities and the rupee.
- US Markets: Overnight weakness in US markets added to selling pressure in Indian equities, with geopolitical uncertainty affecting global risk sentiment.
- RBI Policy: The central bank is under growing pressure for rate hikes despite maintaining a cautious stance. Analysts expect 25-50 basis points of cumulative increases through FY27 to combat broadening inflation.
- GDP & Growth: India's economic growth remains resilient at 7.5-7.8%, but RBI tightening could moderate expansion. S&P and Fitch have raised FY27 growth forecasts to 7% and 6.9%, respectively.
Global uncertainties, particularly oil-driven inflation and geopolitical risks, are dampening foreign investor enthusiasm for Indian equities despite India's strong domestic fundamentals and 7%+ growth backdrop.
What to Watch Tomorrow
- RBI Commentary: Market participants will closely monitor any signals from RBI officials regarding timing and magnitude of potential rate hikes, which could shift equity valuations.
- Oil Price Trajectory: Continued tracking of crude oil futures and geopolitical developments in the Middle East; a further spike could trigger deeper FII selling.
- Earnings Season: Watch for corporate earnings announcements and guidance that could signal how companies are navigating inflation and input cost pressures.
- Rupee Stability: Monitor USD/INR movement, particularly if FII selling accelerates or crude prices remain elevated; rupee weakness could further deter foreign inflows.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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