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Trendlyne Marketwatch
08 Oct 2026
Market closes lower amid rising oil prices and persistent FII outflows
By Trendlyne Analysis

 

Nifty 50 closed at 22,231.80 (-371.3, -1.6%), BSE Sensex closed at 71,593.24 (-1,045.5, -1.4%) while the broader Nifty 500 closed at 21,616.15 (-443.8, -2.0%). Market breadth is sharply down. Of the 2,872 stocks traded today, 450 were on the uptick, and 2,362 were down.

Indian indices closed in the red, dragged down by rising oil prices and persistent FII outflows. The Indian volatility index, Nifty VIX, rose 10.1% and closed at 15.3 points. Drugmakers like Mankind Pharma and Zydus Lifesciences fell sharply after the Supreme Court directed the Centre to form a committee on regulating pharmaceutical companies’ marketing practices. The panel will recommend measures to curb expensive gifts and other incentives offered to doctors for promoting medicines.

Nifty Midcap 100 and Nifty Smallcap 100 closed lower, following the benchmark index. Nifty Metal and BSE Power were among the top index losers today. According to Trendlyne’s Sector dashboard, Commercial Services & Supplies emerged as the worst-performing sector of the day, with a fall of 3.6%.

Asian indices closed in the red, while European indices are trading lower. US index futures traded lower, indicating a cautious start to the trading session. Federal Reserve meeting minutes showed that most officials believed another 25 bps rate hike would likely be appropriate this year to curb persistent inflation, though no timing was set. Officials viewed further tightening as a safeguard against sticky price pressures, including from energy costs and AI-driven investment demand, despite President Donald Trump’s calls for rate cuts.

  • Money Flow Index (MFI) indicates that stocks like Sun TV Network and Shreeji Shipping Global are in the overbought zone.

  • Embassy Developments is rising sharply as its presales soar 3.7x QoQ to Rs 3,225 crore in Q2FY27, driven by project launches in Bengaluru and Mumbai. Collections grow 10% to Rs 546 crore during the quarter.

  • Keystone Realtors is falling sharply as its Q2FY27 collections decline 19% YoY to Rs 541 crore due to slower project execution. However, presales soar 84% to Rs 1,423 crore, driven by buying momentum from luxury and super premium projects.

  • Fino Payments Bank surges as its Q2FY27 business update shows a sharp rise in loan referrals and steady deposit growth. Loans disbursed through its lending partners jumped 223% YoY to Rs 278 crore, while average deposits grew 13%.

  • Oil marketing companies like Mangalore Refinery & Petrochemicals, Chennai Petroleum Corp and Hindustan Petroleum Corp are falling sharply as Brent crude prices soar over $104 per barrel, raising concerns over margin contraction.

  • Info Edge's standalone billings grow 12.8% YoY to Rs 822.3 crore during Q2FY27, driven by recruitment solutions and 99acres increasing 12.6% and 21.2%, respectively.

  • A-One Steels India is falling after reporting a fire at Furnace-4 of its ferro plant in Ballari, Karnataka. The fire was extinguished, while the cause, damage and operational impact remain under assessment.

  • Saudi Arabia’s General Authority of Civil Aviation (GACA) says three people were killed and 36 injured in separate attacks on two airports. Yemen’s Iran-aligned Houthi rebels claimed responsibility, as fighting escalated after Saudi-backed forces launched an offensive against the group near the Bab el-Mandeb Strait and western coast.

  • GM Breweries is falling sharply as its Q2FY27 EBITDA margin drops 150 bps YoY to 23.3% due to higher raw materials, inventory and excise duty expenses. However, revenue jumps 19.9% to Rs 214 crore, supported by higher country liquor sales. It shows up in a screener of stocks with growing costs for long-term projects.

  • Drugmakers like Mankind Pharma and Zydus Lifesciences are falling after the Supreme Court directed the Centre to form a committee on regulating pharmaceutical companies’ marketing practices. The panel will recommend measures to curb expensive gifts and other incentives offered to doctors for promoting medicines.

  • Brigade Enterprises plans a capex of Rs 40,000 crore over three years for its 40 mn sq ft development pipeline across the residential, commercial, retail, hospitality and warehousing markets.

  • Nuvama Institutional Equities initiates coverage on Sagility India and Inventurus Knowledge Solutions (IKS) with a ‘Buy’ rating, citing their exposure to the US healthcare payer and provider segments. The brokerage highlights their complementary positions across the healthcare value chain, with Sagility focused on payers and IKS on provider-focused care enablement, alongside a growing shift towards AI-led, technology-enabled delivery models.

  • Tata Steel is falling as its Q2FY27 steel sales decline by 1.7% YoY to 8 million tonnes (MT) due to lower sales in the UK, Netherlands and Thailand amid higher inventory levels in the UK and heavy rain in Thailand. However, production increases by 5% to 8.1 MT, driven by higher output at Jamshedpur and Kalinganagar facilities.

  • Muthoot Microfin's Q2FY27 assets under management (AUM) jump 22% YoY to Rs 15,323 crore, driven by a 28% increase in loan disbursements. The lender's collection efficiency expands 477 bps during the quarter.

  • One97 Communications, One MobiKwik Systems and Pine Labs are falling sharply as reports emerge that the scheduled rollout of the UPI merchant discount rate (MDR) on October 15 could be deferred.

  • The Indian government is reportedly considering a minimum export price (MEP) for cotton yarn to ensure domestic availability and ease rising costs for textile manufacturers. Cotton yarn prices have surged nearly 60% to around Rs 400/kg from Rs 250/kg in early 2026, following US restrictions on cotton from China’s Xinjiang region, putting pressure on yarn-dependent textile producers.

  • Senco Gold is rising sharply as its Q2FY27 revenue surges 31% YoY, driven by 19% same-store sales growth (SSSG), a favourable festive calendar and elevated gold prices. The company also adds six new stores, taking its total store count to 215.

  • Tata Power enters a partnership with Norway-based Ocean Sun to develop a 300 kilowatt-peak (kWp) floating solar plant at Mulshi reservoir in Maharashtra. Tata Power will utilise Ocean Sun's membrane-based floating solar technology for the project.

  • Vishal Nirmiti's shares debut on the bourses at a 2.3% discount to the issue price of Rs 220. The Rs 178 crore IPO received bids for 1.7 times the total shares on offer.

  • Nifty IT rises despite weak market sentiment as investors focus on TCS, which kicks off the Q2 earnings season later today. IT stocks gain as the dollar eases slightly but remains near multi-month highs. Brokerages expect TCS to report around 13% YoY revenue growth in Q2, while profit is projected to rise by about 9%.

  • Nityas Gems and Jewellery's shares debut on the bourses at a 6.7% premium to the issue price of Rs 75. The Rs 108.4 crore IPO received bids for 2.3 times the total shares on offer.

  • PC Jeweller is rising after reporting around 28% YoY revenue growth in Q2FY27. The company recovered Rs 142 crore in outstanding export receivables and became debt-free after repaying all bank borrowings ahead of schedule, which should reduce interest costs.

  • Maharashtra Seamless is falling sharply as its board of directors approves the demerger of the Maharashtra and Telangana operations into MSL Seamless Tubes (MSTL) and United Seamless (USL). Shareholders of Maharashtra Seamless will get one share of MSTL and USL each for every five shares held.

  • NPCI and the Finance Ministry are reportedly considering merchant requests to postpone the UPI MDR rollout from October 15, 2026, to January 2027. A final decision is expected shortly, with trade associations citing concerns over increased costs for small retailers and MSMEs during the peak festive sales season as the primary reason for the proposed delay.

  • TD Power Systems' board of directors approves a Rs 600 crore fundraise through a qualified institutional placement (QIP) of equity shares at a floor price of Rs 775.4 per share.

  • Polyplex Corp's subsidiary, Polyplex (Thailand) Public Co, approves setting up a 12,000 metric tonne per annum (MTPA) film line in Thailand, with a capex of Rs 147 crore. The new plant will take the total capacity to 1 lakh MTPA and is expected to be operational by Q4FY28.

  • ITC is falling as around 36.7 crore shares (~2.9% stake), worth approximately Rs 9,437 crore, reportedly change hands in a block deal at an average price of Rs 257 per share.

  • Jubilant Foodworks' revenue from operations grows 11.9% YoY to Rs 2,608.7 crore in Q2FY27. Domino’s India posts a 4.1% like-for-like sales growth. The company adds 108 new stores during the quarter, taking the total store count to 3,820.

  • Nifty 50 was trading at 22,528.50 (-74.6, -0.3%), BSE Sensex was trading at 72,668 (29.3, 0.0%), while the broader Nifty 500 was trading at 21,965.90 (-94, -0.4%).

  • Market breadth is sharply down. Of the 2,274 stocks traded today, 677 were gainers and 1,509 were losers.

Riding High:

Largecap and midcap gainers today include NTPC Green Energy Ltd. (90.62, 2.4%), ICICI Lombard General Insurance Company Ltd. (1,624, 2.1%) and Tata Communications Ltd. (1,685, 1.5%).

Downers:

Largecap and midcap losers today include Adani Green Energy Ltd. (1,235.70, -7.9%), Tube Investments of India Ltd. (2,241, -6.2%) and JSW Infrastructure Ltd. (334, -5.6%).

Volume Shockers

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

Top high volume gainers on BSE included Alok Industries Ltd. (9.08, 9.5%), LIC Housing Finance Ltd. (537, 4.2%) and IFCI Ltd. (66.09, 3.2%).

Top high volume losers on BSE were One97 Communications Ltd. (1,641.50, -5.2%), GMR Airports Ltd. (87.77, -3.8%) and Ola Electric Mobility Ltd. (35.04, -3.5%).

Firstsource Solutions Ltd. (263.40, 1.6%) was trading at 26.2 times of weekly average. India Cements Ltd. (293.50, -3.2%) and Eris Lifesciences Ltd. (1,162, 1.4%) were trading with volumes 5.9 and 4.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

1 stock took off, crossing 52 week highs, while 69 stocks hit their 52 week lows.

Stock touching their year highs included - Finolex Cables Ltd. (1,401, -5.6%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,132, -2.9%) and Ambuja Cements Ltd. (341, -4.5%).

8 stocks climbed above their 200 day SMA including LIC Housing Finance Ltd. (537, 4.2%) and IFCI Ltd. (66.09, 3.2%). 24 stocks slipped below their 200 SMA including Adani Enterprises Ltd. (2,596, -5.4%) and Adani Energy Solutions Ltd. (1,251.50, -5.1%).

 
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