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Trendlyne Marketwatch
22 Oct 2026
Market closes lower, led by losses in FMCG stocks
By Trendlyne Analysis

 

Nifty 50 closed at 22,687.65 (-123.7, -0.5%), BSE Sensex closed at 73,249.39 (-460.3, -0.6%) while the broader Nifty 500 closed at 21,696.55 (-141.4, -0.7%). Market breadth is moving down. Of the 2,841 stocks traded today, 768 were in the positive territory and 2,023 were negative.

Indian indices closed lower, dragged down by losses in FMCG stocks. The Indian volatility index, Nifty VIX, rose 0.9% and closed at 15.8 points. Indian Hotels Co surged to its 52-week high of Rs 788.8 per share as it raised its FY27 revenue guidance by 300 bps to 16%, driven by the upcoming festive and wedding seasons. Separately, Q2FY27 net profit jumped 22.7% YoY to Rs 349.5 crore, led by increased revenue per available room.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty India Tourism and Nifty Cement were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hotels, Restaurants & Tourism emerged as the best-performing sector of the day, with a rise of 1.9%.

Asian indices closed lower, while European indices are trading mixed. US index futures traded lower. The US ordered some diplomats and their families to leave Saudi Arabia as escalating attacks killed three people. Meanwhile, President Donald Trump said Washington is not negotiating with Tehran, warning that “something” could happen “very soon.” Reports indicate the US and Israel are preparing plans for possible renewed strikes on Iran after the November 3 US midterm elections.

  • Relative Strength Index (RSI) indicates that stocks like Himadri Specialty Chemical, Exide Industries and SJVN are in the overbought zone.

  • Bondada Engineering secures a letter of intent (LoI) from Gujarat Industries Power Co (GIPCL) to develop a 20 MW vanadium redox flow (VRF) battery energy storage system (BESS). The company will set up the project at GIPCL's 165 MW natural gas power plant in Vadodara and will operate & maintain the plant for 10 years.

  • Force Motors partners with Rosmerta Auto Recycling to provide customers access to authorised vehicle scrapping facilities. The partnership will initially cover Delhi-NCR, with the company exploring similar arrangements in other parts of India.

  • BoB Capital Markets retains its 'Buy' call on South Indian Bank with a higher target price of Rs 66 per share. This indicates a potential upside of 18.7%. The brokerage believes that the bank's focus on higher-yielding loans, better liability management and a recovery in loan growth will drive its net interest margins higher. It expects the lender to deliver a net interest income (NII) CAGR of 23.4% over FY27-29.

  • Jammu & Kashmir Bank's Q2FY27 net profit grows 10.6% YoY to Rs 546.4 crore. Revenue increases 13.2% to Rs 3,727.1 crore, driven by improvement in the treasury, retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 109 bps and 25 bps, respectively.

  • Gold loan NBFCs face short-term stress from rising 30-day delinquencies and a 22%+ fall in domestic gold prices from January 2026 peaks. The RBI's new gold loan rules also affect renewal trends. JPMorgan views recent repayment adjustments as temporary rather than systemic, citing resilient loan-to-value (LTV) buffers of 55–65% and low gross non-performing asset (GNPA) ratios despite rapid sector growth.

  • Bansal Wire Industries is falling sharply as its Q2FY27 revenue misses Forecaster estimates by 5.1% due to lower steel prices, despite growing 23.4% YoY to Rs 1,308.6 crore. Net profit climbs 38% to Rs 52.9 crore, supported by higher throughput. It shows up in a screener of stocks with declining returns on capital employed in the past two years.

  • Garware Hi-Tech Films' management raises its FY27 EBITDA margin guidance by 200 bps to 27%, driven by a richer product mix. Separately, the company's Q2FY27 net profit jumps 42% YoY to Rs 129 crore. Revenue climbs 22% to Rs 696 crore, fueled by strong demand and higher realisations. It appears in a screener of stocks with high trailing twelve-month (TTM) EPS growth.

  • Balkrishna Industries is rising as it signs an agreement with Pirelli for a proposed 50:50 joint venture to manufacture passenger car radial tyres in India. The JV plans to set up a new plant, while BKT will initially manufacture Pirelli-branded tyres at its Bhuj facility until the venture becomes operational.

  • Jefferies maintains a 'Hold' rating on SRF with a target price of Rs 2,540. The brokerage says Q2 performance misses expectations, mainly due to margin pressure in specialty chemicals. While refrigerant gases remain strong, packaging films and technical textiles also report weaker-than-expected EBIT as margins reverse inventory gains seen in the June quarter.

  • JTEKT India's board of directors approves setting up a new 8 lakh units per annum constant velocity joint (CVJ) line to meet growing demand from Indian original equipment manufacturers (OEMs). This expansion will take the company's CVJ capacity to 20 lakh units per annum.

  • Bajaj Consumer Care is falling as MD Naveen Pandey indicates upto a 5% hike in consumer prices during Q3FY27 to manage input cost volatility. He adds that this will be a combination of a 2-3% direct price hike and a reduction in weightage.

  • KEI Industries is falling sharply as its Q2FY27 net profit declines 4.3% QoQ to Rs 262.5 crore due to higher raw materials, subcontracting and depreciation & amortisation expenses. However, revenue jumps 18.6% to Rs 3,800.9 crore, supported by wires & cables and stainless steel wire demand. It shows up in a screener of stocks with medium to low Trendlyne momentum scores.

  • Nestle and Zydus Wellness decline after the Food Safety and Standards Authority of India (FSSAI) issues notices to both companies over allegedly misleading product claims, seeking scientific evidence to substantiate their advertisements.

  • Seamec rises as it secures a contract worth $55 million (~Rs 520 crore) from HAL Offshore to hire Seamec's vessel. HAL Offshore will use the ship for inspection, maintenance & repair (IMR) jobs for ONGC.

  • Indian Hotels Co surges to its 52-week high of Rs 788.8 per share as it raises its FY27 revenue guidance by 300 bps to 16%, driven by the upcoming festive and wedding seasons. Separately, Q2FY27 net profit jumps 22.7% YoY to Rs 349.5 crore, led by increased revenue per available room. Revenue grows 20.8% to Rs 2,566.2 crore, owing to higher management fee income and new hotels.

  • Persistent Systems approves a $450 million qualified institutional placement (QIP) at a floor price of Rs 5,550 per share. The fundraising will help finance its $1.5 billion acquisition of Nagarro.

  • Nirmal Bang retains a 'Buy' rating on Eternal with a higher target price of Rs 385. The brokerage says the quarter reinforces a growth-led strategy across Blinkit and food delivery, with improving visibility on quick-commerce expansion economics. Planned store additions, an expected pickup in net order value growth from Q3FY27, and further productivity gains support Blinkit’s medium-term growth outlook.

  • Fusion CX's shares debut on the bourses at a 5.5% premium to the issue price of Rs 289. The Rs 702 crore IPO received bids for 4.5 times the total shares on offer.

  • International Gemmological Institute surges to its 10% upper circuit as its Q2FY27 net profit climbs 43.2% YoY to Rs 185.8 crore, owing to revenue growth outpacing expenses. Revenue jumps 31.8% to Rs 416.8 crore, helped by higher adoption of lab-grown diamonds and demand for natural diamonds & jewellery. It appears in a screener of stocks with increasing topline over the past four quarters.

  • Adani Energy Solutions falls as Prazim Trading & Investment Co sells 49.5 lakh shares for Rs 660.9 crore through a block deal at an average price of Rs 1,334 per share. PI Opportunities AIF V picks up the shares.

  • Swiggy declines after Citi warns that Eternal’s renewed focus on food delivery growth weighs on its outlook. However, continued margin expansion in Swiggy’s core food delivery business and potential growth from Toing offer some cushion. Citi also expects Swiggy’s quick-commerce adjusted EBITDA loss to widen to Rs 870 crore from Rs 780 crore in the June quarter.

  • SPR Auto Technologies is falling as Prazim Trading & Investment Co sells 2.6 lakh shares for Rs 115.4 crore through a block deal at an average price of Rs 4,490 per share. PI Opportunities AIF V picks up the shares.

  • PC Jeweller soars to its 5-year high of Rs 20.1 per share as its Q2FY27 net profit surges 58% YoY to Rs 331.1 crore, thanks to lower raw materials and finance costs. Revenue jumps 21.8% to Rs 1,090 crore, driven by strong consumer demand. It features in a screener of growth stocks where promoters are increasing their shareholding.

  • Sagility is rising after agreeing to acquire 100% of US-based Chirok Health for up to $32.4 million (~Rs 300 crore). The acquisition will strengthen its healthcare provider business by adding medical coding, clinical documentation and revenue management services.

  • Bharat Electronics secures orders worth Rs 1,011 crore to supply lightweight radars, communication equipment, sonars and spares.

  • Nifty 50 was trading at 22,610.30 (-201.1, -0.9%), BSE Sensex was trading at 73,201.27 (-508.4, -0.7%), while the broader Nifty 500 was trading at 21,621.55 (-216.4, -1.0%).

  • Market breadth is sharply down. Of the 2,253 stocks traded today, 497 were on the uptick, and 1,687 were down.

Riding High:

Largecap and midcap gainers today include Indian Hotels Company Ltd. (782.30, 3.9%), Balkrishna Industries Ltd. (2,110.20, 3.5%) and PB Fintech Ltd. (1,037.90, 3.0%).

Downers:

Largecap and midcap losers today include Swiggy Ltd. (211.40, -5.5%), Kalyan Jewellers India Ltd. (530.40, -4.8%) and Oracle Financial Services Software Ltd. (9,843, -4.1%).

Volume Shockers

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

Top high volume gainers on BSE included International Gemological Institute Ltd. (353.20, 10%), Crisil Ltd. (4,777.20, 4.2%) and Indian Hotels Company Ltd. (782.30, 3.9%).

Top high volume losers on BSE were KEI Industries Ltd. (3,873, -8.5%), Swiggy Ltd. (211.40, -5.5%) and CreditAccess Grameen Ltd. (1,088.50, -4.7%).

Sapphire Foods India Ltd. (195.85, 1.5%) was trading at 11.6 times of weekly average. India Cements Ltd. (331.75, 0.6%) and Mahindra & Mahindra Financial Services Ltd. (287.60, -3.3%) were trading with volumes 7.2 and 7.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks overperformed with 52 week highs, while 81 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Indian Hotels Company Ltd. (782.30, 3.9%) and PVR INOX Ltd. (1,419.90, 0.1%).

Stocks making new 52 weeks lows included - Biocon Ltd. (330.30, -1.4%) and Blue Dart Express Ltd. (4,316.90, -1.6%).

6 stocks climbed above their 200 day SMA including International Gemological Institute Ltd. (353.20, 10%) and Asahi India Glass Ltd. (913.55, 2.2%). 35 stocks slipped below their 200 SMA including Gallantt Ispat Ltd. (550.70, -5.6%) and Aarti Industries Ltd. (441.30, -5.0%).

 
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