Sensex falls 252 points, Nifty settles below 22,650; Bajaj Finance, M&M see big cut

Indian equity markets ended the session on a weak note on Wednesday, as selling pressure in financial and automobile stocks weighed on benchmark indices.

Gains in information technology and select consumer stocks offered some support.

The Sensex fell 0.34%, to close at 72,781.89, while the Nifty 50 declined 0.44%, to settle at 22,622.70.The Nifty Bank index was also trading in the red. Selling pressure increased as the session progressed, with both benchmark indices moving lower after a subdued start.

On the sectoral front, financial services and pharmaceutical stocks were among the key laggards on the Nifty.

Investors will keep an eye on the quarterly earnings of BHEL, Groww, Canara Bank and several other companies scheduled to announce their Q2 results today.

The Sensex and Nifty 50 ended lower on Wednesday, with the Sensex declining 251.89 points, or 0.34%, to close at 72,781.89. The Nifty 50 fell 99.25 points, or 0.44%, to settle at 22,622.70.

Information technology (IT) stocks were among the top gainers, with Infosys rising 2.51%, Tech Mahindra gaining 2.20% and Tata Consultancy Services (TCS) advancing 1.54%. Hindustan Unilever and NTPC also ended higher, gaining 1.15% and 0.87%, respectively.

On the other hand, financial and select auto stocks weighed on the market. Bajaj Finance fell 2.55%, followed by Mahindra & Mahindra (M&M), which declined 2.24%. Bajaj Finserv lost 1.99%, Eternal dropped 1.68% and ICICI Bank slipped 1.54%.

The Indian stock market continued to trade in the red at this hour, with the Sensex falling 200.46 points, or 0.27%, to 72,833.32, while the Nifty 50 declined 93.10 points, or 0.41%, to 22,628.85.

Larsen & Toubro (L&T) fell 1.77%, while Adani Ports declined 1.95% in intraday trade. IndiGo slipped 2%, Bajaj Finance dropped 2.25%, Sun Pharma lost 2.28%, and Bajaj Finserv was down 2.59%.

After trading largely flat earlier in the session, the Indian stock market has turned sharply lower. The Sensex was down 375.87 points, or 0.51%, at 72,657.91, while the Nifty 50 fell 146.10 points, or 0.64%, to 22,575.85.

Transformers and Rectifiers India: Shares surged over 18% in intraday trade after the company reported a 135% year-on-year jump in Q2FY27 net profit to around Rs 80 crore.

Vedanta Power: Shares rallied as much as 13.3% on the BSE, rebounding after five consecutive sessions of losses. Trading volumes rose more than threefold.

Tata Elxsi: Shares gained 8.3% intraday trade on the NSE after its September quarter revenue rose 3.4% sequentially to Rs 1,056 crore, exceeding market estimates.

Aegis Logistics: Shares climbed 8% intraday after the company announced an agreement to acquire an approximately 89.8% stake in Tristar Holdings for an equity consideration of $809 million.

Bharat Coking Coal: Shares advanced nearly 8% after the company approved price increases of around 0.1% to 14% for select grades of raw coking coal sold to the non-regulated sector.

Hero Motors: Shares opened 3.74% higher at Rs 164 after the newly listed company reported a 25% year-on-year rise in revenue to Rs 319 crore for the quarter ended June 2026.

In the afternoon trade, the Sensex was down 34.02 points, or 0.05%, at 72,999.76, while the Nifty 50 slipped 27.35 points, or 0.12%, to 22,694.60.

Share price of Transformers & Rectifiers India rose as much as 17% in the intraday trade, after the company reported a strong set of September quarter results. The company recorded sharp growth in both profit and operating earnings compared with the same period last year.

Net profit surged 135% year-on-year to Rs 79.8 crore in the September quarter, compared with Rs 33.9 crore a year ago. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) also rose sharply, increasing nearly 150% to Rs 128.6 crore.

Shares of Vedanta Power surged around 9% intraday today. The stock has risen after ending lower for five straight sessions.

Infosys was the top gainer at this hour, rising 2.45%, followed by Tata Consultancy Services (TCS), which gained 2.21%.

HCL Technologies advanced 1.19%, while UltraTech Cement rose 0.91%. Tech Mahindra and Hindustan Unilever were also trading higher, up 0.89% and 0.88%, respectively.

"The 358 point sharp rally in the Nifty yesterday, in an otherwise weak downtrending market, came as a bit of a surprise. The bears with short positions must have run for short-covering in a market which suddenly turned. The trigger for the rally came from the finance minister Nirmala Sitaraman’s comment at the Bloomberg New Economy Forum that “the government would carefully review and discuss stakeholder feedback regarding the LTCGs tax and STT.” The market response indicates potential changes in the LTCGs tax.

This has triggered hopes among investors," said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investments.

"Along with this, the RBI measures to restrict speculation in the currency market led to 1.5% appreciation in the rupee in the last two trading days. This has helped reduce the FII selling in the market significantly."

"But the US 10-year bond yield hovering around 5.2% and Brent crude trading around $106 continue to be strong headwinds for the market. It would be difficult for the rally to sustain given these negatives. But segments like financials, telecom, metals and automobiles which are likely to report good Q2 numbers will remain resilient," he added.

Shares of Bharat Coking Coal surged 6% in early trade today. The company has raised prices of certain grades of raw coking coal for the non-regulated sector. The basic prices of different grades have been raised by up to 14%.

Shares of Polycab India plunged 5% in early trade today. The stock extended a sharp decline from the previous session.

Polycab will be excluded from the equity derivatives segment and its contracts will not be available for trading from December 30, 2026.

The stock has declined 17% in the last three months.

The IDBI Bank shares soared nearly 13% in early trade today.

The stock has gained over 24% in the last six months but has declined around 11% this year.

Shares of Tata Elxsi jumped over 7% in early trade today. Its net profit for Q2FY27 declined 0.2% quarter-on-quarter to Rs 170 crore. However, its net profit was up 10% year-on-year.

Its revenue rose over 3% sequentially to Rs 1,056 crore.

Share price of Transformers and Rectifiers (India) surged nearly 14% in early trade after the company posted robust numbers for Q2FY27.

The company reported a 135% year-on-year increase in consolidated net profit to Rs 79.8 crore for the quarter.

The benchmark indices opened flat on Wednesday. The Nifty 50 was trading holding on to 22,700 points while the Sensex was around 73,044 points.

Information technology stocks were leading gains in early trade, extending gains from the previous session. IT major TCS was up over 3%, followed by HCL Technologies and Infosys with nearly 2% gains each.

Shriram Finance was the worst hit in Nifty 50, down 1.8%.

PTC Industries share price will be watched after it completed a Rs 1,800-crore Qualified Institutions Placement (QIP), raising funds from domestic and international institutional investors.

Bharat Electronics (BEL) share price will be on investors’ radar after the state-owned defence electronics company announced additional orders worth Rs 533 crore on Tuesday, October 13. The orders were received since its previous disclosure on September 17, 2026.

Share price of Transformers and Rectifiers (India) will be in focus after the company reported a 135% year-on-year increase in consolidated net profit to Rs 79.8 crore for the second quarter of financial year 2026-27.

The Hyundai Motor India share price will be in focus today. The Hyundai Motor Group on Tuesday committed $15.5 billion in investments in India between 2026 to 2032, as it looks to expand manufacturing capacity in the country.

In Tuesday’s session, the Ruchi Group gained 8.8%, followed by the HCL Group, which closed 8.4% higher.

The Nagarjuna Group was the worst hit on Tuesday, ending 5% lower, followed by the Patodia Group at 3.8% lower.

In Tuesday’s trading session, the IT sector gained the most, ending 4.8% higher. This was followed by the artificial intelligence sector, which closed 4.7% higher.

The diagnostics sector was the worst hit, ending 1.6% lower.

Foreign institutional investors continued to be sellers, giving up equities worth Rs 1,305.13 crores on Tuesday, according to NSDL data.

Domestic institutional investors remained buyers and purchased shares worth Rs 2,439.24 crores.

COMEX silver was trading lower at $59.250 per ounce in early trade on Wednesday.

Silver prices in India were at Rs 218.8 per gram on Wednesday.

COMEX gold was trading flat at around $4,179.3 per ounce in early trade on Wednesday.

The rate for 24-carat gold today in India is Rs 1,48,240 per 10 grams. The 18-carat gold price today in India is Rs 1,11,180 per 10 grams. The 24-carat gold rate in Dubai today is Rs 1,36,618.97.

The US Dollar Index (DXY) , which measures the value of the dollar against a basket of six foreign currencies, was trading at 102.14. The index evaluates the strength or weakness of the US dollar with major currencies.

The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, and others.

On October 13, the Indian rupee ended at 95.28 against the US dollar.

US stock futures were little changed on Wednesday morning. The S&P 500 futures and Dow Jones Industrial Average futures were flat, while the Nasdaq-100 futures were 0.15% lower.

The US Yield remained at multi-year highs with the 10-year yield at 5.22%.

US Markets on Tuesday: US stocks ended lower on Tuesday. The Dow Jones Industrial Average lost 180.45 points, or 0.35% to end at 51,670.1 points. The S&P 500 closed just below the flatline at 7,805.45 points. The Nasdaq Composite lost 0.15% to end at 27,204.38 points.

Crude oil prices were higher than their previous close in early trading on Wednesday, with Brent crude oil hovering around $107 per barrel. The West Texas Intermediate crude oil futures were 0.9% higher at nearly $95 per barrel.

Crude oil prices remained significantly higher than their pre-West Asia war levels.

Asian markets opened mixed on Wednesday, with Japan’s Nikkei 225 gaining 0.32% while the Topix fell 0.11%. South Korea’s Kospi gained 0.82% at open while the small-cap Kosdaq declined 0.45%.

Australia’s S&P/ASX 200 was 0.62% lower.