Auto, metal and media shares declined while IT, private bank shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 570.59 points or 0.79% to 71,909.70. The Nifty 50 index tumbled 198.50 points or 0.88% to 22,421.95. In the four consecutive trading sessions, the Sensex and Nifty declined 2.69% and 3.11%, respectively.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index declined 0.99% and the BSE 250 SmallCap Index dropped 1.23%.

The market breadth was weak. On the BSE, 1,383 shares rose and 3,039 shares fell. A total of 236 shares were unchanged.

The Indian stock market will remain closed on Friday, 2 October 2026, on account of Mahatma Gandhi Jayanti.

Economy:

The government has reduced the windfall gains tax on exports of diesel and aviation turbine fuel (ATF) for the fortnight beginning 1 October 2026, while keeping the levy on petrol exports unchanged.

The special additional excise duty (SAED), along with road and infrastructure cess, on diesel exports has been cut to Rs 16 per litre from Rs 20 per litre, while the levy on ATF exports has been reduced to Rs 10.5 per litre from Rs 15 per litre.

The duty on petrol exports remains unchanged at Rs 0.5 per litre. The Finance Ministry said there is no change in the existing duty rates on petrol and diesel cleared for domestic consumption.

The seasonally adjusted HSBC India Manufacturing PMI rose to 55.1 in September from 52.8 in August, marking the strongest improvement in the sector’s health in seven months. The September data indicated a recovery in growth momentum across India’s manufacturing sector, supported by faster increases in new orders and output, which also contributed to job creation and inventory accumulation.

New Listing:

Shares of Moneyview were traded at Rs 53.06 on the BSE, representing a premium of 56.06% as compared with the issue price of Rs 34.

The stock debuted at Rs 55.61 on the BSE, a premium of 63.56% over its issue price.

The stock has hit a high of Rs 62 and a low of Rs 50.25. On the BSE, over 7.51 crore shares of the company were traded in the counter.

Shares of A-One Steels were traded at Rs 414 on the BSE, representing a premium of 2.22% as compared with the issue price of Rs 405. .

The stock debuted at Rs 462 on the BSE, a premium of 14.07% over its issue price.

The stock has hit a high of Rs 469.45 and a low of Rs 393.45. On the BSE, over 18.19 lakh shares of the company were traded in the counter.

IPO Update:

Nityas Gems & Jewellery received bids for 75,60,200 shares as against 1,44,56,000 shares on offer, according to stock exchange data at 15;30 IST on 1 October 2026. The issue was subscribed 0.52 times.

The issue opened for bidding on 30 September 2026 and will close on 5 October 2026. The price band of the IPO is fixed between Rs 70 and 75 per share. An investor can bid for a minimum of 200 equity shares and multiples thereof.

Vishal Nirmiti received bids for 43,39,760 shares as against 84,71,153 shares on offer, according to stock exchange data at 15:30 IST on 1 October 2026. The issue was subscribed 0.51 times.

The issue opened for bidding on 30 September 2026 and will close on 5 October 2026. The price band of the IPO is fixed between Rs 208 and 220 per share. An investor can bid for a minimum of 68 equity shares and multiples thereof.

Buzzing Index:

The Nifty Auto index dropped 3.46% to 25,384.95. The index added 0.46% in the past trading session.

Bajaj Auto (down 7.62%), Maruti Suzuki India (down 5.16%), Uno Minda (down 5.13%), Bosch (down 3.82%), Samvardhana Motherson International (down 3.65%), Sona BLW Precision Forgings (down 3.25%), Mahindra & Mahindra (down 3.18%), Bharat Forge (down 3.01%), TVS Motor Company (down 2.63%) and Eicher Motors (down 2.45%) declined.

Stocks in Spotlight:

Kotak Mahindra Bank rose 0.53%. The reserve bank of India (RBI) approved the appointment of Anup Kumar Saha as the new Managing Director & CEO of the Bank, for a period of three years, with effect from January 1, 2027.

Saha holds B. Tech degree in Engineering from IIT Kharagpur and has also completed his MBA from IIM Lucknow. He is currently the bank’s whole-time director (executive director). He joined Kotak Mahindra Bank in January 2026 and has been overseeing the retail banking, data analytics and marketing functions since March 2026.

Surya Roshni added 0.27%. The company said that the Steel Pipes & Strips sales volume stood at 2.67 lakh tonnes in Q2 FY27 as against 2.18 lakh tonnes in Q2 FY26, thereby registering a growth of 23% YoY.

Sterlite Technologies hit upper circuit of 5% after the company said its wholly owned subsidiary had received a long-term supply agreement from an international hyperscale partner.

Steel Strips Wheels (SSWL) declined 4.55%. The company reported a net turnover of Rs 625.81 crore for September 2026, marking a 52.4% year-on-year (YoY) increase compared to Rs 410.60 crore recorded in September 2025.

Escorts Kubota slipped 1.53% after the company's Agri Machinery Business reported 16.7% fall in tractor sales in September 2026, selling 15,214 units during the month as against 18,267 units sold in September 2025.

Mahindra & Mahindra declined 3.27%. The company has reported 15% year-on-year (YoY) increase in overall auto sales for the month of September 2026, which stood at 114,874 vehicles. The auto sales figure for the same period last year was 100,298 vehicles.

Hyundai Motor India shed 0.38%. The company's monthly total sales rose by 10.8% to 77,916 units in September 2026 from 70,347 units in September 2025. While the company's domestic sales increased by 10.9% YoY to 57,166 units, exports improved by 10.4% YoY to 20,750 units in September 2026.

Global Market:

European equity bourses began October and the final quarter of the year on a dour note on Thursday, as persistent energy-driven inflation fears and a stalled Middle East peace process outweighed relief from softer U.S. macroeconomic data.

Meanwhile, Asian shares ended higher today, with mainland China and Hong Kong markets closed for holidays.

US stocks ended mixed on Wednesday after data showed that inflation rose less than expected in August, easing expectations of an immediate Federal Reserve rate hike.

However, elevated Treasury yields limited gains. The Dow Jones Industrial Average declined 443.87 points, or 0.86%, to 50,906.05, while the S&P 500 fell 19.30 points, or 0.25%, to 7,651.54. The Nasdaq Composite rose 63.52 points, or 0.24%, to 26,861.06.

US inflation, as measured by the Personal Consumption Expenditures (PCE) price index, rose 0.3% month-on-month in August and 3.4% year-on-year. The annual increase was below economists’ expectations of 3.7%, helping reduce expectations of a Federal Reserve rate hike at the October meeting. Core PCE inflation rose 3% year-on-year.

Micron Technology reported record fiscal fourth-quarter revenue of $54.23 billion and non-GAAP earnings of $33.42 per share. The company forecast adjusted EPS of $38.15 at the midpoint for the current quarter, above market expectations. Its shares initially gained in after-hours trading before paring the move.

Investors will next focus on the US nonfarm payrolls report for September, due on Friday, for further clues on the Federal Reserve’s interest-rate path.