Sensex, Nifty Under Pressure; Infosys, Ola Electric, Tata Steel, Pharma and Key Stocks in Focus

The Indian stock market enters Wednesday, September 30, 2026, after another volatile session that saw the benchmark indices extend their decline. Rising crude oil prices, foreign fund outflows, elevated US Treasury yields, geopolitical uncertainty and monthly F&O expiry volatility continued to weigh on sentiment.

On September 29, the Sensex fell 242.65 points, or 0.33%, to 72,529.07, while the Nifty 50 declined 64.05 points, or 0.28%, to 22,716.20. The Nifty touched an intraday low of 22,569.65 before recovering part of its losses.

The September 30 trading session will therefore be closely watched for signs of stabilization, particularly around the Nifty’s 22,700–23,000 zone.

Indian Stock Market Today: Key Points to Watch

• Sensex and Nifty extended losses for the second consecutive session.
• Nifty closed below 22,750 on September 29.
• Crude oil prices around $105–$106 a barrel remain a major concern.
• US 10-year Treasury yields moved above 5.27%, adding pressure to emerging-market equities.
• Foreign investors continued to sell Indian equities.
• IT and consumer durable stocks remained under pressure.
• Pharma and metal stocks showed relative strength.
• Monthly F&O expiry added significant intraday volatility.
• Nifty’s 23,000 level remains an important technical zone.
• Several corporate developments could influence individual stocks on Wednesday.

Nifty, Sensex Under Pressure as Oil and Global Yields Rise

The biggest concern for Indian equities remains the combination of elevated crude oil prices and rising global bond yields.

Brent crude was trading around the $105–$106 per barrel zone, while the US 10-year Treasury yield moved above 5.27%. Higher crude prices can increase India’s import bill and potentially put pressure on inflation, corporate margins and the rupee.

Foreign institutional investors have also remained sellers. Reuters reported that foreign investors had sold more than $2.17 billion of Indian equities during September through the latest session.

For September 30, traders are likely to monitor:

• Crude oil prices
• US bond yields
• Rupee movement
• Foreign institutional flows
• Asian market cues
• Developments around the Middle East
• Nifty support and resistance levels

Nifty 50: 23,000 Remains an Important Technical Zone

The Nifty has been under sustained selling pressure, and technical analysts have been closely tracking the 23,000 level.

SBI Securities’ Sudeep Shah identified 23,000 as a crucial support zone, while noting that the technical setup could make it difficult for the index to defend that level without reclaiming important resistance areas.

With the Nifty closing at 22,716.20 on September 29, the index is already below 23,000.

Levels traders may watch

Support: 22,700 and 22,500 zones

Resistance: 22,800 and 23,000 zones

A sustained move back above 23,000 would need to be accompanied by broader market participation and improving global cues. Conversely, continued weakness below recent lows could keep volatility elevated.

These are market reference levels rather than guaranteed trading outcomes.

Bank Nifty: Financial Stocks Remain Under Pressure

Bank Nifty also remained weak during the previous session. The index closed at 54,259.95, down 211.70 points, or 0.39%.

The broader banking space will remain sensitive to:

• Foreign fund flows
• Bond yields
• Rupee movement
• Interest-rate expectations
• Overall risk appetite

Traders will therefore watch whether Bank Nifty can stabilize around recent lows or whether selling pressure continues.

Stocks to Watch Today, September 30

Several stocks from the news flow could remain in focus because of corporate developments, brokerage views, orders, acquisitions or sector-specific triggers.

1. Infosys

Infosys remained among the major IT stocks under pressure during the recent market decline. The stock was reported to have touched a six-year low intraday.

IT stocks have faced additional pressure as investors assess slower growth expectations, AI-related disruption, global technology spending and elevated US yields.

On September 29, Infosys was among the major Nifty laggards.

Investors will watch whether the stock finds support after the recent decline or remains under selling pressure.

2. Tata Steel, JSW Steel and Jindal Steel

Metal stocks showed relative strength during the previous session.

The news flow highlights rising rebar prices and continued positive brokerage commentary on Tata Steel, JSW Steel and Jindal Steel. Tata Steel was also among the notable gainers on September 29.

The steel sector could remain in focus as investors track:

• Domestic steel prices
• Rebar prices
• Demand trends
• Raw-material costs
• Global steel markets

3. Pharma Stocks

Pharma stocks gained after the US announced tariff exemptions covering certain specialty drugs, according to the news headlines.

On September 29, Nifty Pharma was one of the few sectoral indices to finish higher, gaining 0.64%.

Stocks including Dr Reddy’s Laboratories could remain in focus. Dr Reddy’s shares gained more than 1% after Nomura retained its Buy view and a ₹1,740 target, according to the news flow. The stock was also among the strongest Nifty gainers during the September 29 session.

4. Nuvoco Vistas and CleanMax

Nuvoco Vistas is in focus after entering into an arrangement with Clean Max for a renewable-energy project.

According to reports, Nuvoco will acquire a 26% stake in Clean Max Ilgohp Pvt Ltd. The proposed project is expected to have 46.4 MW of wind-solar hybrid capacity, comprising 20 MW of wind power and 26.4 MWdc of solar capacity, along with a 2-MWh battery storage system.

The development is aimed at increasing renewable energy consumption in Nuvoco’s operations and reducing dependence on conventional energy sources.

5. CleanMax Enviro

CleanMax is also in focus following its partnership with Nuvoco.

The news flow separately highlights CleanMax’s renewable-energy activities and an earlier stake sale by Augment Infrastructure Partners involving a reported ₹1,096 crore transaction.

Investors may track developments around CleanMax’s renewable-energy portfolio and corporate ownership changes.

6. Ola Electric

Ola Electric remains under the spotlight after its board approved a ₹1,000 crore rights issue, according to the headlines. The stock had also fallen ahead of the board meeting considering fundraising.

The fundraising development could remain an important trigger for the stock as investors assess the company’s capital requirements, electric-vehicle business and future expansion plans.

7. Landmark Cars

Landmark Cars shares surged as much as 12% to a one-month high after the company added new outlets involving Mahindra & Mahindra and BYD, according to the news.

The company is also highlighted for expanding its footprint through additional BYD and Mahindra outlets.

The expansion could keep the stock active as investors evaluate its dealership network and automobile demand.

8. Mahindra & Mahindra

Mahindra & Mahindra remains in focus amid reports that the company is considering another SUV price increase.

The Thar, Scorpio and XUV 7XO were specifically mentioned in the news flow. At the same time, Nomura retained its Buy view on Mahindra & Mahindra along with Hyundai India, Ather, TVS and Sona BLW as automobile demand remains a focus.

Investors will watch the impact of any price changes on demand and margins.

9. Tata Motors

A Tata Motors subsidiary reportedly acquired a 26% stake in an e-mobility company for ₹2.6 lakh, according to the headlines.

The development keeps Tata Motors connected to the broader electric-mobility ecosystem, an area that remains strategically important for the automobile sector.

10. Axiscades

Axiscades is in focus following a large block deal.

Jupiter Capital reportedly sold a 10.69% stake, with Abakkus and Kotak AMC among the buyers.

Large block transactions can increase trading activity and may lead investors to examine changes in institutional ownership.

11. Honasa Consumer

Honasa Consumer, the parent company of Mamaearth, is another stock to watch after Sequoia Capital and Peak XV Partners reportedly sold more than 4% stake.

The news flow also mentions significant selling involving Goldman Sachs and BNP Paribas in BSE.

Investors may track the shareholding changes and their impact on market sentiment toward the company.

12. BSE

BSE is in focus after reports that Goldman Sachs and BNP Paribas offloaded a combined 1.67% stake.

The development comes at a time when exchange-related stocks continue to attract investor attention because of strong market participation, derivatives activity and changing regulatory conditions.

13. Petronet LNG

Petronet LNG remains in focus following multiple brokerage views.

The news flow includes Buy calls from Motilal Oswal, Emkay Global Financial and Prabhudas Lilladher, while Nomura retained a Buy rating with a ₹345 target and highlighted the Kochi pipeline as a potential utilisation driver.

Investors should distinguish between brokerage targets and actual market outcomes, as target prices represent analysts’ views rather than guaranteed future prices.

14. GAIL and ONGC

GAIL is also in focus after Emkay Global Financial maintained a Buy view with a ₹200 target, according to the headlines.

Meanwhile, ONGC reported a gas discovery near the Odisha coast in the Mahanadi deepwater basin.

Energy stocks could remain sensitive to the movement in crude oil and natural-gas prices.

15. Welspun Corp

Welspun Corp gained as much as 5% after one of its units won a Saudi Aramco order worth approximately ₹2,000 crore, according to the news.

The stock was also reported to be up substantially year-to-date, making order execution and future order inflows important factors for investors to monitor.

16. PB Fintech

PB Fintech has come under pressure following concerns around proposed IRDAI insurance-distribution rules.

The news reports that the stock declined sharply over four sessions as investors assessed the possible impact of the proposals.

Insurance-related stocks will remain sensitive to regulatory developments, particularly changes affecting commissions, distribution structures and customer acquisition.

17. Whirlpool of India

Whirlpool of India shares hit the 20% upper circuit after reports that the promoter was set to sell its entire stake.

The stock is therefore likely to remain on investors’ radar as the market evaluates the potential ownership change and any subsequent transaction details.

18. Symphony

Symphony shares surged around 9% after the company announced plans to enter categories including air conditioners, BLDC fans and air purifiers, according to the news.

The move could expand the company’s addressable consumer-electronics market and will be watched for details on product launches and execution.

Global Market Cues for September 30

Global markets are likely to remain an important driver for Indian equities.

Asian markets showed mixed trends, with Japanese stocks extending losses amid higher yields and oil prices, while Chinese equities edged higher on hopes of fiscal support.

US markets are also being influenced by:

• Elevated Treasury yields
• Oil prices
• Inflation expectations
• Geopolitical developments
• Technology-stock sentiment

The global-news flow also points to gains in technology stocks amid optimism surrounding a potential Anthropic IPO, partly offsetting concerns over high oil prices and bond yields.

IT Stocks Under Pressure

The IT sector has been one of the weaker areas of the market.

On September 29, the Nifty IT index fell 1.48%, with Infosys and HCL Technologies among the major losers.

The sector continues to face questions around:

• Global technology spending
• AI-driven changes in IT services
• Client demand
• Pricing pressure
• US economic conditions
• H-1B-related developments

The news flow also highlights concerns around AI talent shortages and the changing role of AI in India’s technology sector.

Metal and Pharma Stocks Show Relative Strength

While several sectors declined, metal and pharma stocks displayed relative resilience on September 29.

Nifty Metal gained 0.78%, while Nifty Pharma advanced 0.64%.

Tata Steel, JSW Steel, Jindal Steel and selected pharmaceutical companies could therefore remain on the market’s radar.

IPO and Fundraising Activity

The news flow also highlights continued activity in India’s primary market.

Companies including Royal Chain, Technopaints, SJP Ultrasonics and Deon Energy are reported to have initiated IPO-related processes, while Sollfege Smart Electronics is reported to be planning a ₹22 crore IPO.

Ola Electric’s ₹1,000 crore rights issue is another important fundraising development.

Investors should assess valuation, business fundamentals, issue structure and use of proceeds rather than relying only on listing expectations.

Indian Stock Market Today: What Traders Should Watch

For the September 30 session, market participants may focus on the following:

1. Nifty 23,000 zone

The index is already below 23,000, making this level an important technical reference point.

2. Crude oil

Any further rise in crude could add pressure to India’s inflation and external-balance concerns.

3. US Treasury yields

Higher US yields can influence global capital flows and emerging-market valuations.

4. FII and DII activity

Foreign selling has been a major contributor to recent market weakness, while domestic institutional buying has provided some support.

5. IT sector

Infosys, HCL Tech and other IT stocks will remain sensitive to global technology spending and AI-related concerns.

6. Pharma

US tariff developments have provided a positive sector-specific trigger for selected Indian pharmaceutical companies.

7. Metals

Tata Steel and other steel stocks remain in focus amid higher steel prices.

8. Auto stocks

Mahindra & Mahindra, Landmark Cars and other automobile-linked companies could react to price changes, dealership expansion and demand trends.

Indian Stock Market Outlook for September 30, 2026

The market begins the final trading day of September with a cautious tone after two consecutive sessions of declines.

The immediate backdrop is dominated by high crude oil prices, elevated US Treasury yields, foreign fund selling and geopolitical uncertainty. The Nifty’s position below 23,000 also makes the technical setup an important consideration for short-term traders.

At the same time, relative strength in pharma and metal stocks, selected corporate announcements and domestic institutional participation could create pockets of buying interest.

Rather than focusing only on index movements, traders and investors may want to monitor sector rotation and stock-specific developments throughout the session.

Key levels and market commentary are for educational and informational purposes only and should not be treated as investment advice.

Key Stocks in Focus Today

• Infosys
• HCL Technologies
• Tata Steel
• JSW Steel
• Jindal Steel
• Dr Reddy’s Laboratories
• Nuvoco Vistas
• CleanMax
• Ola Electric
• Mahindra & Mahindra
• Landmark Cars
• Tata Motors
• Axiscades
• Honasa Consumer
• BSE
• Petronet LNG
• GAIL
• ONGC
• Welspun Corp
• PB Fintech
• Whirlpool of India
• Symphony