Taking Stock: IT, banking stocks pull market down on another volatile day

Among sectors, auto and realty up 0.5 percent each, while PSU bank and information technology down 0.5-1 percent.

The market was under selling pressure on October 13 as IT heavyweights continued to trade lower on concerns over demand outlook and a slide in the banking stocks worsened the sentiment.

At close, the Sensex was down 125.65 points or 0.19 percent at 66,282.74, and the Nifty was down 43 points or 0.22 percent at 19,751.

The market started gap-down amid weak global cues following slightly higher than expected US inflation but recovered. The recovery, however, was short-lived as bears swung back in action to drag the Nifty to the day’s low of 19,650 intraday. Some last-hour buying helped indices to pare some of the losses.

Also Read: Industrial growth hits 14-month high of 10.3% in August

For the week, the Sensex and Nifty rose 0.5 percent each.

Stocks and sectors

Top Nifty losers were Axis Bank, Infosys, Adani Enterprises, SBI and Wipro, while the gainers were Tata Motors, IndusInd Bank, HCL Technologies, Tata Consumer Products and Nestle India.

Among sectors, auto and realty were up 0.5 percent each, while PSU bank and information technology were down 0.5-1 percent.

Index	Prices	Change	Change%
Sensex	84,957.63	-180.64	-0.21%
Nifty 50	25,955.70	-76.50	-0.29%
Nifty Bank	59,165.95	-107.85	-0.18%

Nifty 50 25,955.70 -76.50 (-0.29%)

Wed, Dec 03, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
TCS	3,207.10	71.40	+2.28%

Biggest Loser	Prices	Change	Change%
Shriram Finance	821.25	-22.15	-2.63%

Best Sector	Prices	Change	Change%
Nifty IT	37951.40	410.10	+1.09%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	8291.30	-223.60	-2.63%

BSE midcap and smallcap indices ended flat.

Also Read: Retail inflation drops to 5.02% in September, lowest in 3 months

A short build-up was seen in Bandhan Bank, Infosys and Mphasis, while a long build-up was seen in Tata Motors, Metropolis Healthcare and IndusInd Bank.

Among individual stocks, a volume spike of more than 300 percent was seen in Tata Motors, TATA Consumer Products and HDFC Life Insurance Company.

Welspun Corp, Cupid, Tide Water Oil, Tata Motors, Phoenix Mills, Angel One, JK Tyre & Industries, ITC, JK Tyre & Industries, DLF, Shalby, touched their 52-week high on the BSE. Click here for the full list

Outlook for October 16

Rupak De, Senior Technical Analyst at LKP Securities:

The bulls were able to protect the level of 19600 during the day, thanks to the strong open interest (OI) build-up at the 19,600 strike price by put writers. The strength may continue as long as the index remains above 19600. Only a decisive fall below 19600 might trigger serious long unwinding in the market, till then a buy on dips strategy to favor the market. On the higher end, resistance is visible at 19850; above 19850, the index might move towards 20000.

Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas:

The Nifty opened gap down however during the course of the day it witnessed recovery to close well off the intraday lows though on a negative note down ~43 points. On the daily charts we can observe that the zone of 19640 – 19620 where support in the form of the 40-day average was placed acted as a cushion and prevented further decline. The rallies and corrections have been short lived and thereby only leading to increased volatility and wild swings in both directions.

The daily Bollinger bands are contracting which indicates that the index is due for consolidation. The daily and hourly momentum indicators are providing divergent signals and in such a scenario a consolidation appears high probability. The range of consolidation is likely to be 19500 – 20100 from short term perspective. Stocks specific action and sector rotation are likely during this period of consolidation.

Bank Nifty witnessed a deeper correction however, we believe that this dip is likely to be bought into. On the downside, 44000 – 43800 is the crucial support zone and until that is not breached on the downside we shall expect a recovery till 45050 – 45350 in the bank Nifty from short term perspective.

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