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Trendlyne Marketwatch
30 Sep 2026
Market closes lower amid weakness in healthcare stocks and FII outflows
By Trendlyne Analysis

 

Nifty 50 closed at 22,620.45 (-95.8, -0.4%), BSE Sensex closed at 72,480.29 (-48.8, -0.1%) while the broader Nifty 500 closed at 22,072.10 (-28.9, -0.1%). Market breadth is in the red. Of the 2,858 stocks traded today, 1,316 were on the uptrend, and 1,469 went down.

Indian indices closed lower amid weakness in healthcare stocks and continued foreign fund outflows. The Indian volatility index, Nifty VIX, rose 0.6% and closed at 13.5 points. Indian hospital stocks, including Max Healthcare and Fortis, fell after the Supreme Court raised concerns over steep medicine mark-ups at private hospitals. The court also questioned hospitals requiring inpatients to buy medicines from in-house pharmacies at higher prices.

Nifty Smallcap 100 closed higher, while Nifty Midcap 100 closed flat. BSE Hospitals and Nifty Healthcare Index are among the top index losers today. According to Trendlyne’s sector dashboard, Healthcare emerged as the worst-performing sector of the day, with a fall of 3.5%.

Asian markets closed mixed. European markets traded with varied trends. US index futures traded higher, indicating a positive start to the trading session. Investors await the US consumption expenditure inflation data for August, due later today, for cues on the Fed’s policy path. Meanwhile, the White House reportedly discussed a possible diesel export ban as the Trump administration looks to cool domestic fuel prices. The move could disrupt fuel supplies to US allies and add pressure on global energy markets.

  • Relative Strength Index (RSI) indicates that stocks like Sunflag Iron & Steel and Spectrum Electrical Industries are in the overbought zone.

  • Transrail Lighting is rising sharply as it secures orders worth Rs 574 crore in its domestic transmission & distribution (T&D) segment. The company will undertake the engineering, procurement & construction (EPC) of transmission lines, reconductoring of lines and supply of poles. With this win, Transrail's order inflow for the year jumps to Rs 1,609 crore.

  • Prestige Estates Projects is rising sharply as CPP Investments plans to acquire a 27% stake in its hospitality arm, Prestige Hospitality Ventures, for Rs 3,000 crore. The investment will be used to fund hotel expansion across Bengaluru, Chennai, Delhi, Goa, Hyderabad and Mumbai.

  • Larsen & Toubro's transportation infrastructure business secures two contracts from Dubai’s Roads and Transport Authority to develop the Latifa Bint Hamdan Corridor. The projects include roads, bridges, tunnels and a new interchange, and are scheduled for completion by the end of 2028. One order is worth Rs 2,500-5,000 crore and the other Rs 1,000-2,500 crore.

  • Indus Towers is rising as it reportedly signs a memorandum of understanding (MoU) with Replus Engitech to develop battery energy storage system (BESS) solutions for telecom infrastructure in India.

  • Mangalore Refinery and Petrochemicals (MRPL) declines after a major fire breaks out at its coker hydroheater unit in Mangalore. Reports indicate that around eight people sustained injuries, including one person who suffered significant burns.

  • KPI Green Energy is rising as it enters an agreement to acquire 507.9 megawatt (MW) of wind power plants in Gujarat for Rs 2,410 crore from Alfanar Energy and Netra Wind. The acquisition is in line with the company's strategy to expand its renewable energy portfolio.

  • 360 One Wam rises as The Regents of the University of California sells 36.3 lakh shares for Rs 374.3 crore through a bulk deal at an average price of Rs 1,030.1 per share.

  • Kajaria Ceramics’ promoter, Chetan Kajaria Family Private Trust, sells 18 lakh shares for Rs 214.2 crore through a bulk deal at an average price of Rs 1,190 per share. SageOne Investment Managers buys 10.5 lakh shares.

  • Sun TV Network surges more than 10% as the company reportedly plans to separate its IPL business. Sun TV is preparing for a potential demerger of its Sunrisers Hyderabad franchise assets, a move that could unlock significant value for shareholders. The IPL franchise is estimated to be valued at around Rs 13,000–14,000 crore.

  • BSE is falling sharply as Goldman Sachs Investments Mauritius I and BNP Paribas Financial Markets sell 68.3 lakh shares for Rs 2,186.6 crore through bulk deals at an average price of Rs 3,200 per share. UTI Mutual Fund and Nippon India Mutual Fund pick up the shares.

  • Time Technoplast rises as its board of directors approves the merger of its subsidiary, TPL Plastech, with itself. Shareholders of TPL Plastech will receive 403 shares of Time Technoplast for every 1,000 shares held.

  • Shares of ArMee Infotech make a flat debut on the bourses, listing at its issue price of Rs 375. The Rs 300 crore IPO received bids for 2.4 times the total shares on offer.

  • INOXGFL Group’s renewable energy arm, Inox Clean Energy, files a draft prospectus for an IPO targeting a fundraise of up to Rs 10,000 crore. The issue is expected to include a fresh share sale of up to Rs 8,000 crore, while promoter Devansh Jain may offload shares worth up to Rs 2,000 crore. The company may also explore a pre-IPO placement of up to Rs 1,600 crore, with the fresh issue being reduced accordingly.

  • Elevate Campuses' shares debut on the bourses at a 1.9% discount to the issue price of Rs 362. The Rs 2,100 crore IPO received bids for 1.8 times the total shares on offer.

  • JSW Cement rises as its board of directors approves the merger of its subsidiary, Shiva Cement, with itself.

  • Gujarat Government appoints Ajay Bhadoo as Gujarat Mineral Development Corp's Managing Director (MD), effective September 29.

  • Crude oil prices are easing after a sharp rally in September, with Brent trading near $102 a barrel and WTI around $98. The decline is largely driven by the recovery in Middle East oil exports, including Saudi Arabia’s resumption of loadings through the East-West pipeline, along with the US release of 40 million barrels from its strategic reserves.

  • Swastika Infra's shares debut on the bourses at an 8.1% premium to the issue price of Rs 185. The Rs 161.4 crore IPO received bids for 7.6 times the total shares on offer.

  • Adroit Industries' shares debut on the bourses at a 75.4% premium to the issue price of Rs 134. The Rs 150.7 crore IPO received bids for 176.8 times the total shares on offer.

  • Uflex projects FY27 revenue to grow 35% to Rs 20,943 crore, driven by capacity expansion, higher utilisation and a richer product mix.

  • Indian hospital stocks, including Max Healthcare and Fortis, fall sharply after the Supreme Court raises concerns over steep mark-ups on medicines at private hospitals. The court flags the practice of requiring inpatients to purchase medicines from hospital pharmacies at significantly higher prices. No immediate regulatory action has been ordered, as the government sought time for consultations. The matter is scheduled for further hearing on October 12, 2026.

  • JNK India secures two domestic orders worth Rs 100 crore each to supply a flare package and provide support services for the package.

  • NLC India is rising as its board of directors approves forming a 50:50 joint venture (JV) with National Aluminium Co (NALCO) to develop a 1,080 MW captive thermal plant for the latter.

  • STL Networks surges as it emerges as the lowest bidder for a Rs 249.8 crore RailTel project to build cloud infrastructure at its data centre and disaster recovery site.

  • KSB is rising as it secures an export order worth around Rs 118 crore from Dangote Projects Free Zone Enterprise to supply 18 boiler feed pump packages.

  • Nifty 50 was trading at 22,732.20 (16, 0.1%), BSE Sensex was trading at 72,631.75 (102.7, 0.1%), while the broader Nifty 500 was trading at 22,189 (88, 0.4%).

  • Market breadth is highly positive. Of the 2,544 stocks traded today, 1,800 were in positive territory, and 666 were negative.

Riding High:

Largecap and midcap gainers today include Solar Industries India Ltd. (19,700, 5.6%), ICICI Lombard General Insurance Company Ltd. (1,590, 5.0%) and Prestige Estates Projects Ltd. (1,481.90, 4.5%).

Downers:

Largecap and midcap losers today include Fortis Healthcare Ltd. (770, -6.3%), Apollo Hospitals Enterprise Ltd. (8,165.50, -5.7%) and Max Healthcare Institute Ltd. (929.80, -5.3%).

Volume Rockets

29 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Ircon International Ltd. (116.50, 13.7%), Rites Ltd. (212.34, 10.4%) and Sun TV Network Ltd. (596, 7.7%).

Top high volume losers on BSE were Fortis Healthcare Ltd. (770, -6.3%), Apollo Hospitals Enterprise Ltd. (8,165.50, -5.7%) and Max Healthcare Institute Ltd. (929.80, -5.3%).

JSW Holdings Ltd. (11,375, 3.4%) was trading at 35.6 times of weekly average. Jupiter Wagons Ltd. (232.20, 5.6%) and Firstsource Solutions Ltd. (254.05, 2.1%) were trading with volumes 35.3 and 15.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks hit their 52 week highs, while 28 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Sun TV Network Ltd. (596, 7.7%), Maharashtra Seamless Ltd. (737, 2.1%) and Syrma SGS Technology Ltd. (1,785.50, 5.5%).

Stocks making new 52 weeks lows included - Britannia Industries Ltd. (4,830, -0.1%) and Can Fin Homes Ltd. (719, -1.7%).

16 stocks climbed above their 200 day SMA including Rites Ltd. (212.34, 10.4%) and Sun TV Network Ltd. (596, 7.7%). 16 stocks slipped below their 200 SMA including Aster DM Quality Care Ltd. (696, -5.2%) and OneSource Specialty Pharma Ltd. (1,515, -4.3%).

 
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