Indian Stock Markets Recover from Day’s Low, End Marginally Lower; Sensex, Nifty Shed 2% in Week

NEW DELHI, SEP 11 : Indian stock markets recovered sharply from the day’s low on Friday but ended marginally lower after a highly volatile trading session. The benchmark Sensex declined 120.83 points, or 0.16 per cent, to close at 74,781.76, while the Nifty fell 79.70 points, or 0.34 per cent, to 23,398.10.

The broader market also remained under pressure, with the Nifty Midcap index declining 0.26 per cent and the Smallcap index falling 0.60 per cent. For the week, both the BSE Sensex and Nifty lost around 2 per cent.

Among sectoral indices, the Nifty Private Bank index gained 0.5 per cent. Metal and Realty indices declined more than 2 per cent each, while Auto, Energy, Oil & Gas and PSU Bank indices fell around 0.5 per cent.

On the Nifty, Dr Reddy’s Laboratories, HDFC Bank, ITC, Tech Mahindra and Wipro were among the major gainers. Hindalco Industries, JSW Steel, Tata Steel, Eicher Motors and ONGC were the leading losers.

More than 130 stocks touched their 52-week highs, including Welspun Corp, Redington, Finolex Cables, Laurus Labs, FSN E-Commerce Ventures, Lenskart Solutions, Divi’s Laboratories and Chennai Petroleum. More than 180 stocks hit their 52-week lows, including HEG, Gujarat Energy, Muthoot Finance, IEX, Bikaji Foods, IRCON International, Ambuja Cements, Cello World, Shree Cement, Aditya Birla Fashion, ACC, HDFC Bank, Havells India, Rail Vikas Nigam, ICICI Lombard, IRFC, Zensar Technologies, IRCTC, PI Industries and SBI Life Insurance.

The Indian rupee weakened for the fourth consecutive session, falling 11 paise to close at 95.55 against the US dollar.

Vinod Nair, Head of Research at Geojit Investments Ltd, said a sharp rise in crude oil prices and concerns over a higher global interest-rate environment weighed on domestic equities and extended the recent corrective trend.

He said higher producer inflation and strong US economic data reinforced expectations of tighter monetary policy, pushing bond yields higher and sustaining foreign institutional investor outflows.

However, Nair noted that the domestic market recovered from its intraday lows on value buying in select sectors, particularly IT, following a positive opening in European markets.

“Despite the rebound, weak market breadth suggests broader consolidation persists,” he said, adding that elevated crude prices, foreign outflows and geopolitical uncertainty could keep volatility high.

At the same time, resilient domestic fundamentals and strong institutional support are expected to attract buying at lower levels, limiting downside risks and supporting the medium-term market outlook.

The Indian stock market will remain closed on Monday, September 14, on account of Ganesh Chaturthi.