Taking Stock: Bears tighten grip on D-Street; Sensex down 733 pts, Nifty below 24,700

Market Today

Bears' dominance continued for sixth consecutive session, dragging Nifty below 24,650, intraday, on September 26 amid selling seen across the sectors, especially the pharma names post Trump's 100% tariff on imports of branded or patented pharmaceutical products. IT stocks also plunged on weak growth outlook from Accenture.

The market has registered the longest losing streak in last 7 months, with Nifty breaching 24,700 for the first time since September 2, while BSE Sensex also broke 81,000 level for the first time since September 8.

At close, the Sensex was down 733.22 points or 0.90 percent at 80,426.46, and the Nifty was down 236.15 points or 0.95 percent at 24,654.70.

Broader indices underperformed the main indices with BSE midcap and smallcap indices shed 2% each.

For the week, BSE Sensex and Nifty slipped 2.6 percent each.

Also Read: FY26 IPO fundraising can exceed Rs 1.5 trillion, says JM Financial's ECM head Neha Agarwal

IndusInd Bank, Sun Pharma, M&M, Eternal, Tata Steel were among biggest losers on the Nifty, while gainers included L&T, Tata Motors, Eicher Motors, Reliance Industries, ITC.

All the sectoral indices ended in the red with bank, capital goods, consumer durables, metal, IT, telecom, pharma, PSU Bank down 1-2 percent.

Index	Prices	Change	Change%
Sensex	85,509.69	-99.82	-0.12%
Nifty 50	26,151.60	-53.70	-0.20%
Nifty Bank	59,579.40	51.35	+0.09%

Nifty 50 26,151.60 -53.70 (-0.20%)

Thu, Nov 27, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Bajaj Finance	1,035.90	25.20	+2.49%

Biggest Loser	Prices	Change	Change%
Eicher Motors	7,012.00	-186.50	-2.59%

Best Sector	Prices	Change	Change%
Nifty Bank	59573.80	45.70	+0.08%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	8472.45	-79.50	-0.93%

Also Read: Generic medicines exempted from Trump’s 100% pharma tariffs, but uncertainty continues

In stock-specific action, Pharma and healthcare stocks shed up to 8% after US imposed tariffs on branded drugs; IT stocks shed up to 8% on weak growth outlook from Accenture, Ceigall India share price fell 3% despite JV bagging project worth Rs 509.2 crore, Asian Paints shares down 2.5% on 'underperformer' rating by CLSA, Nuvoco Vistas Corporation shares plunged 4.5% on show cause notice of tax of Rs 112 crore.

BHEL shares down 2% after DIPAM rejected JV with REC Power, Supreme Petrochem shares rose 1.6% on commissioning ABS project at Amdoshi, Maharashtra, Amber Enterprises India shares shed 3.5% despite Rs 550 crore investment from multiple investors, Carysil shares down 4% post 50% US imposes tariff on kitchen cabinets, Tata Motors shares rose 1.5% after JLR restores some systems hit by cyber attack, L&T shares rallied over 2% after Telangana takes over Hyderabad Metro's debt.

More than 140 stocks touched their 52-week lows on the BSE, including Crompton Greaves Consumer Electrical, Sun Pharma, Praj Industries, Petronet LNG, Five-Star Business Finance, IRB Infra, TCS, Vedant Fashions, Ramkrishna Forgings, among others. Click to View More

On the other hand, more than 120 stocks hit 52-week high, including TVS Electronics, PVV Infra, Lumax Industries, Banco Products, Balaji Telefilms, Maruti Suzuki, JSW Steel, Usha Martin, among others. Click to View More

Outlook for September 29

Ajit Mishra – SVP, Research, Religare Broking

Markets remained under pressure and extended their losing streak for the sixth straight session. The tone was weak from the outset and worsened as the day progressed. Eventually, the Nifty closed near the day’s low at 24,654.70, down 0.95%. The decline was broad-based, with pharma and IT stocks leading the fall following U.S. tariff announcements on branded drugs. The broader indices bore the brunt of the sell-off, slipping nearly 2% each.

The announcement of tariffs on branded drugs weighed heavily on sentiment, adding to recent concerns over visa policy changes. IT counters were further dragged by weak guidance from global peers, while persistent FII outflows and a weak rupee amplified the pressure.

On the technical front, sustained weakness in heavyweights has accelerated the index’s decline over the past two sessions, with the Nifty now approaching its key support near the 200 DEMA around 24,400. Meanwhile, the sharp correction in mid- and small-cap stocks has further dampened market sentiment. Given this backdrop, we recommend adopting a cautious approach—focusing on fundamentally strong stocks while avoiding aggressive directional bets until clearer signals emerge.

Vinod Nair, Head of Research, Geojit Investments

The Indian market experienced a bloodbath, mirroring the rout across Asian markets. Investor sentiment was rattled by a fresh wave of tariffs targeting the pharmaceuticals, dragging pharma stocks deep into the red.

Meanwhile, Accenture’s weaker guidance and job cuts highlighted slowing IT spending, with AI-driven growth failing to meet expectations, prompting a broad sell-off in tech shares. Investors remain cautious, with a near-term focus on domestic investment and consumption amid global uncertainty.

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