Indian Stock Market Today: September 29, 2026

The Indian stock market enters Tuesday, September 29, 2026, under pressure after a sharp sell-off in the previous session. The Sensex plunged more than 1,100 points, while the Nifty 50 closed below the crucial 22,800 mark and slipped to a six-month low.

Rising crude oil prices, concerns over global inflation, higher US bond yields, foreign institutional selling and uncertainty surrounding the geopolitical situation have increased volatility across equity markets.

Investors will also keep a close watch on the upcoming F&O expiry, global market cues, the rupee, crude oil prices and fresh corporate developments.

Indian Stock Market Today: Key Things to Watch

1. Sensex and Nifty suffer sharp sell-off

Indian equities witnessed heavy selling pressure on Monday.

• The Sensex fell 1,124 points and closed at a six-month low.
• The Nifty 50 ended below 22,800.
• The Nifty broke below the 22,900 level during the session for the first time since April 7.
• Broader markets also remained weak, with small-cap and mid-cap indices declining around 1%.
• Market breadth was strongly negative, with 1,166 stocks advancing, 2,553 declining and 170 remaining unchanged on the BSE.
• The India VIX rose as volatility increased.
• Almost all sectors came under selling pressure.

The sharp fall followed concerns over higher crude oil prices, interest-rate expectations and global geopolitical developments.

2. Nifty technical levels become important

Technical analysts are watching the 22,700 level closely after the recent decline.

According to the market setup provided in the source, a sustained break below 22,700 could expose the Nifty to the next important support around 22,500.

At the same time, analysts see the possibility of a short-term pullback towards the 22,800-22,900 zone following the heavy selling. However, the technical setup remains cautious, and a rebound may face selling pressure.

Bank Nifty is also being watched around the 54,000 support level.

3. FII selling remains a major concern

Foreign institutional investors remained heavy sellers in the Indian equity market.

FIIs bought shares worth approximately Rs 9,047.56 crore and sold shares worth around Rs 14,400.78 crore, resulting in net selling of about Rs 5,353 crore.

This was described in the source as the largest September FII outflow.

Domestic institutional investors provided some support. DIIs bought shares worth approximately Rs 15,918.32 crore and sold shares worth Rs 10,729.30 crore, resulting in net buying of about Rs 5,189 crore.

The divergence between FII selling and DII buying will remain an important market factor.

Global Market Cues

4. Wall Street declines as oil prices rise

US markets remained under pressure as investors assessed rising crude oil prices and geopolitical uncertainty.

The Dow Jones Industrial Average was down around 0.5% shortly after opening, while US stock futures also indicated a weaker start.

Rising oil prices are raising concerns that inflation could remain elevated for longer, potentially influencing expectations surrounding US Federal Reserve policy.

5. Crude oil crosses $107-$108 per barrel

Crude oil has emerged as one of the biggest concerns for global investors.

Brent crude moved above $107 per barrel, with reports also pointing to prices above $108 during the recent period.

Higher crude prices can create pressure for oil-importing economies such as India because they can increase the country’s import bill, influence inflation and put pressure on the rupee.

The combination of higher crude prices and elevated US yields is also weighing on other asset classes.

6. Asian markets remain mixed to weak

Asian markets were largely under pressure.

• Japan’s Nikkei declined as investors assessed oil prices and interest-rate concerns.
• South Korea’s KOSPI also remained weak.
• Shanghai’s SSE Composite ended lower.
• Hong Kong’s Hang Seng showed relative resilience.

Weak Asian market cues could influence the opening direction of Indian equities.

Rupee and Interest Rates

7. Rupee remains under pressure

The Indian rupee has been volatile amid rising crude prices and global dollar strength.

The rupee recently closed at around Rs 95.98 per US dollar, compared with Rs 95.82 in the previous session.

However, another source update showed the rupee recovering to around Rs 95.80, gaining 19 paise. Currency movement will remain closely linked to crude oil, foreign fund flows and global bond yields.

8. RBI rate-hike expectations in focus

Markets are currently pricing significantly more RBI tightening than some analysts expect.

Nomura said markets are pricing nearly 125 basis points of RBI rate hikes over the next year, while the brokerage expects only around 50 basis points of tightening by December.

The difference highlights the uncertainty surrounding India’s interest-rate outlook as investors balance inflation risks against economic growth.

A separate poll of economists, treasury heads and fixed-income experts showed that a majority expected the RBI’s Monetary Policy Committee to raise the repo rate by 25 basis points to 5.5% while maintaining its inflation and growth estimates.

Stocks to Watch Today

9. Coforge

Coforge appointed Akhil Gupta as chairman following weeks of boardroom turmoil.

The appointment follows the resignation of former chairman O P Bhatt on September 9. The development could keep investors focused on the company’s corporate governance and board structure.

10. HCLTech

HCLTech plans to acquire Croatia-based Robotiq.ai for €9 million to strengthen its capabilities in agentic artificial intelligence.

The transaction is expected to be entirely cash-funded and is expected to close by the end of November 2026, subject to the applicable conditions.

The acquisition highlights the continued focus of Indian IT companies on AI-related capabilities.

11. Ola Electric

Ola Electric’s board approved a Rs 1,000 crore rights issue.

The issue will be available to eligible shareholders based on a record date that will be announced separately.

The fundraising comes after recent volatility in the company’s stock and will remain an important development for investors tracking the company’s capital position.

12. Aequs

Aequs shares rose as much as 6% after the company outlined a Rs 660 crore capex budget for FY27.

The company is also planning to raise around Rs 800 crore in debt and is accelerating its broader investment programme.

Management has indicated an ambitious growth plan, making the company’s capex execution and future earnings visibility important factors for investors.

13. Clean Max Enviro Energy Solutions

Augment Infrastructure Partners offloaded a stake worth approximately Rs 1,096 crore in Clean Max Enviro Energy Solutions.

Following the transaction, Clean Max shares closed around 1.46% lower at Rs 1,373.10 amid high trading volumes.

The transaction will remain a key stock-specific development for investors tracking institutional ownership changes.

14. Electrosteel Castings

Belgrave Investment Fund sold a 4.67% stake in Electrosteel Castings.

The shares closed around Rs 72.35, almost unchanged on the session, despite high volumes.

Investors may watch the stock for further institutional activity following the large stake transaction.

15. NSE-related stocks and IFCI

NSE-related developments are also in focus after NSE shares fell below their IPO price amid the broader market sell-off.

IFCI holds a 52% stake in Stock Holding Corporation of India, which in turn owns around 4.4% of NSE.

IFCI and NIACL declined as much as 4.5% amid the market weakness.

16. Tata Steel, JSW Steel and Jindal Steel

Metal stocks will remain in focus after rebar prices strengthened.

Nomura retained its positive view on Tata Steel, JSW Steel and Jindal Steel as steel prices reached new highs.

Tata Steel also has a brokerage target of Rs 220 from Motilal Oswal in the research material provided.

Investors should note that brokerage ratings and target prices represent analysts’ views rather than guaranteed future prices.

17. Petronet LNG

Petronet LNG remains on the radar following multiple brokerage updates.

The source lists:

• Motilal Oswal target: Rs 362
• Emkay Global Financial target: Rs 360
• Prabhudas Lilladher target: Rs 302
• Nomura target: Rs 345

Kochi pipeline utilisation has been identified as one of the factors supporting the company’s outlook.

These are brokerage estimates and should be considered alongside valuation, earnings and market conditions.

18. QMS Medical Allied

QMS Medical Allied shares gained around 5% after the company announced a partnership with HCAH to build a large patient-support platform.

The proposed transaction would combine the patient support businesses of HCAH and QMS under Saarathi Healthcare, a wholly owned subsidiary of QMS.

19. Hero Motors

Hero Motors hit a 10% lower circuit.

Despite the sharp decline, the stock remained around 55.7% above its listing price of Rs 82, according to the source.

The stock’s recent price performance highlights the volatility that can occur in newly listed companies.

20. Tata Motors

Tata Motors is targeting annual vehicle sales of more than 7.5 lakh units and has launched its Aries compact sedan at a starting price of Rs 5.29 lakh.

The company expects continued electric vehicle demand and is targeting growth in Tier 2 and Tier 3 markets.

Tata Motors Passenger Vehicles has also indicated ambitions to reach a 15% market share in the near term and 20% by FY31.

Other Corporate Developments

LG India and appliance stocks

LG India plans to increase air-conditioner prices by 5-7% from October 1 amid higher input costs.

Manufacturers have also cited the transition to enhanced Bureau of Energy Efficiency standards as one factor behind price revisions.

Other appliance and television prices could also rise by up to 8% from October 1, potentially affecting consumer durable companies during the festive season.

Mahindra & Mahindra

Mahindra & Mahindra may increase prices of models including the Thar, Scorpio and XUV 7XO.

The development comes amid broader automobile-sector price increases during 2026.

Godrej Properties

Godrej Properties plans to develop a luxury residential project in Mumbai’s Marine Lines with an estimated potential revenue of approximately Rs 6,000 crore.

The project could add to the company’s development pipeline in the Mumbai market.

ONGC

ONGC has discovered gas near the Odisha coast in the Mahanadi deepwater basin.

The development adds to the country’s exploration and domestic energy-production story.

Welspun Corp

Welspun Corp gained as much as 5% after its subsidiary secured a Rs 2,000 crore Saudi Aramco order.

The stock has reportedly gained around 240% year-to-date, making order wins and valuation important factors for investors.

IPO Market Updates

Several IPO developments are also likely to attract investor attention.

• Roopa Screen IPO closed with around 350 times subscription.
• Peshwa Wheat IPO was subscribed around 2.7 times.
• SRIT India IPO was fully subscribed on Day 1, with the retail portion fully booked.
• AceVector IPO was subscribed 1.13 times by 5 PM on September 28.
• ArMee Infotech IPO received 2.44 times subscription during its three-day bidding period.
• Functional and Innovative Foods received SEBI approval to proceed with its IPO plans.
• Shah Investor’s Home IPO was around 31% subscribed on Day 1.
  IPO investors will also track allotment dates and expected listing schedules for recently closed issues.

Gold and Precious Metals Under Pressure

Gold prices suffered a sharp decline, with international gold falling around 3% to approximately $4,150, its lowest level in nearly eight weeks according to the report.

Gold and silver ETFs also declined sharply.

The pressure came amid rising crude prices, inflation concerns and expectations of further US Federal Reserve rate hikes.

Higher yields can reduce the relative attractiveness of non-yielding assets such as gold.

Market Outlook for September 29

The market setup remains highly volatile after Monday’s heavy decline.

Key levels to watch:

• Nifty resistance: 22,800-22,900
• Immediate support: 22,700
• Next downside level: 22,500
• Bank Nifty support: Around 54,000
• Key market triggers: F&O expiry, crude oil, US yields, rupee movement and FII flows

A recovery from oversold conditions cannot be ruled out, but traders will likely watch whether the Nifty can reclaim the 22,800-22,900 zone and sustain above it.

At the same time, continued weakness below 22,700 could keep selling pressure elevated.

Key Factors Investors Should Track Today

Before the market opens, investors should monitor:

1. Crude oil prices amid continuing geopolitical uncertainty.
2. US Treasury yields and Federal Reserve rate expectations.
3. FII and DII activity after heavy foreign selling.
4. Rupee movement against the US dollar.
5. Asian and US market cues.
6. Nifty’s 22,700 support zone.
7. Bank Nifty around the 54,000 level.
8. F&O expiry-related volatility.
9. IPO allotments and new issue activity.
10. Company-specific developments and bulk/block deals.

Bottom Line

The Indian stock market begins September 29 with investors facing a combination of domestic and global risks. The sharp fall in the Sensex and Nifty, heavy FII selling, rising crude oil prices, elevated US yields and geopolitical uncertainty have created a cautious trading environment.

At the same time, corporate developments involving Ola Electric, Aequs, HCLTech, Coforge, Tata Motors, Tata Steel, Petronet LNG, QMS Medical Allied and Clean Max Enviro Energy Solutions could create stock-specific trading opportunities.

For the broader market, the 22,700 level on the Nifty 50 remains an important technical reference. Investors and traders will also closely watch whether any recovery can push the index back towards 22,800-22,900.

With F&O expiry approaching, volatility may remain elevated. Investors should therefore focus on price action, volumes, institutional flows and company-specific developments rather than relying solely on short-term market moves.

This article is for informational and educational purposes only and does not constitute investment advice. Brokerage ratings and target prices mentioned above are views expressed by the respective research houses and should not be treated as guaranteed outcomes.