Domestic equity benchmarks kicked off the trading session on October 1 with subdued sentiment, drifting into negative territory under persistent selling across key sectors. Mixed directional cues from global markets combined with sharp declines in automobile and infrastructure shares weighed heavily on investor sentiment at the open. However, steady accumulation in large-cap information technology and major banking counters prevented deeper drawdowns across the headline indices.
Benchmark Indices Open Lower Amid Negative Breadth
At the start of trade, the BSE Sensex fell by 66.44 points, or 0.09 percent, opening at 72,413.85. Similarly, the NSE Nifty dropped 39.60 points, or 0.18 percent, to hover around 22,580.85 during early exchanges. Market breadth remained firmly tilted in favor of declines, underscoring caution across the trading floor. In the opening minutes, approximately 942 stocks advanced against 1,551 declining issues, while 145 counters traded flat without any change in their stock prices.
IT and Bank Indices Gain Ground While Realty and Infra Decline
Sector-specific trends highlighted a sharp divergence, with the technology segment single-handedly acting as a buffer against broader market weakness. The Nifty IT index surged 1.40 percent to trade at 28,094.05, underpinned by strong demand for tech majors. The banking sector also supported the benchmarks, with the Nifty Bank rising 0.29 percent to 54,789.55 in green territory. Conversely, heavy profit-taking gripped capital-intensive segments: Nifty Infra dropped 0.99 percent, Nifty Pharma declined 0.86 percent, Nifty Realty slipped 0.81 percent, Nifty PSE eased 0.79 percent, and Nifty MNC fell 0.63 percent.
Key Movers: Kotak Bank Rallies as Auto Giants Skid
Among individual shares, performance varied widely depending on sectoral tailwinds. Kotak Mahindra Bank emerged as the top gainer, advancing 2.76 percent. Tech leaders registered notable inflows, with Infosys climbing 1.56 percent, HCL Tech gaining 1.35 percent, and TCS rising 1.07 percent, alongside gains in HDFC Life of 1.04 percent and HDFC Bank of 0.82 percent. On the losing side, automotive counters faced intense selling pressure. Bajaj Auto slid 5.52 percent to become the worst performer, followed by Mahindra & Mahindra which lost 3.05 percent. Other notable laggards included Eicher Motors shedding 2.54 percent, Apollo Hospitals losing 2.40 percent, Grasim down 2.28 percent, and Maruti Suzuki dropping 2.07 percent.
