Business EconomyPosted at: Sep 30 2026 5:52PM


Stock markets extend losing streak, selling pressure in metal and pharma

New Delhi, Sep 30 (UNI) Indian stock markets on Wednesday ended with losses and failed to hold on to intraday gains to end marginally lower. Markets continued to extend their losing streak for the third consecutive session. Buying was seen in banking and media stocks, which was offset by selling pressure in metal and pharma names.
Indices opened on a positive note but later on failed to sustain the gains.
At close, the Sensex was down 48.78 points or 0.07 per cent at 72,480.29, and the Nifty was down 95.75 points or 0.42 per cent at 22,620.45. Nifty Midcap index ended in the green, while the Nifty Smallcap index gained 0.3 per cent.
Among the sectors, the key gainers were PSU Bank, Private Bank, Realty and Media indices, gaining 1-2% while Nifty Metal and Pharma indices declined more than 1% each, and the Consumer Durables index fell 0.8%.
On Nifty, the gainers included ICICI Bank, Kotak Mahindra Bank, InterGlobe Aviation, Wipro and Tech Mahindra, while Max Healthcare, Apollo Hospitals, SBI Life Insurance, Eternal and ONGC were among the top losers.
Over 120 stocks touched 52-week low. These included PB Fintech, Britannia Industries, Voltas, Godrej Consumer, Waaree Energies, Havells India, Escorts Kubota, CG Consumer, DCM Shriram, General Insurance, Wipro, among others.
Indian Rupee traded higher at 95.83, supported by some weakness in the Dollar Index.
Vinod Nair, Head of Research, Geojit Investments Limited said, "The relief rally loses its steam with profit booking at the higher levels, followed by a rebound in oil prices. The elevated global bond yields continue to remain a key overhang, limiting the scope for sustained risk-taking. Large-cap stocks, particularly in the banking & IT sectors, gained momentum as investors gravitated towards relatively attractive valuations and a higher margin of safety amid prevailing macro uncertainties."
"The overall market tone remains cautious; investors continue to monitor the trajectory of crude oil prices, bond yields, inflation expectations, and the potential implications for global monetary policy. Consequently, market participants are likely to remain selective, favouring fundamentally strong businesses with resilient earnings profiles until there is greater clarity on the macroeconomic outlook," he added. UNI VK SAS
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Tags: #Stock markets extend losing streak# selling pressure in metal and pharma
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