Indian equity benchmarks remained under pressure by Monday afternoon, with the Sensex closing at 76,957.27, down 307.24 points, while the Nifty 50 ended near 24,040, lower by 0.57%. According to latest reports, of the 3,589 stocks that traded on the NSE, 1,219 advanced while 2,282 declined, indicating broad-based selling pressure. Weak trends in global markets and foreign fund outflows dented investor sentiment, with Brent crude trading around $90 a barrel, up about 2% amid renewed US-Iran tensions. The market correction came as CAS (Closing Auction System) mechanism and MSCI index rebalancing acted as stress tests for the new closing price system.
Sterlite Technologies Ltd. share price gained 5% and touched a record high after securing a $288 million long-term supply agreement from a hyperscaler firm, with deliveries scheduled across CY27 to CY29 and a possible two-year extension. As reported by The Financial Express, the company also reported record Q1 FY27 revenue of ₹1,910 crore and EBITDA of ₹397 crore, up 87% and 184% year-on-year, respectively. The shares have gained nearly 608% since the start of 2026, with the company's open order book standing at ₹18,618 crore and EBITDA margin reaching 20.8%.
Transformers & Rectifiers (India) share price advanced 7.74% after securing its first nuclear-sector order from Megha Engineering and Infrastructure for the supply of generator transformers for NPCIL's Kaiga Units 5 and 6 project in Karnataka. According to The Financial Express, the two reactors will add 1,400 MW of nuclear generation capacity, with the transformers forming part of the electrical infrastructure required for power evacuation and grid integration. This order provides the Ahmedabad-based manufacturer entry into a specialized power segment alongside its existing business across generation, transmission, distribution, renewable energy, railways, steel and infrastructure.
HDFC Bank Ltd. share price saw a topsy turvy session, gaining as much as 2.45% in early trade after Managing Director and CEO Sashidhar Jagdishan decided not to seek another term and will retire on October 26, 2026. As reported by The Financial Express, the stock dropped nearly 3% from the day's high in midday trade, though the board has begun the process of selecting his successor. The market appeared to focus on the removal of the immediate reappointment uncertainty and the planned transition process.
Nestlé India, ITC, Hindustan Unilever, Tata Consumer Products, Varun Beverages and Britannia Industries are in focus after FSSAI proposed prominent red front-of-pack warning labels for packaged foods high in added saturated fat, added sugar and salt. According to The Financial Express, Nestlé India share price declined 0.65%, while ITC share price fell 0.41%, Hindustan Unilever share price declined more than 1%, Tata Consumer Products share price fell 0.97%, Varun Beverages share price slipped 0.81% and Britannia Industries share price declined 1% by midday. The proposal could increase pressure on companies with significant exposure to such products through possible reformulation and compliance costs.
New India Assurance share price gained 7.24%, Supreme Petrochem share price advanced 6%, Authum Investment share price rose 6.6% and Balrampur Chini Mills share price climbed 12.7% amid unusually high trading volumes. As reported by The Financial Express, trading on the NSE increased 15.6 times for New India Assurance, 12 times for Supreme Petrochem, 7.1 times for Authum Investment and 5.3 times for Balrampur Chini Mills compared with their respective recent average volumes. Leela Palaces Hotels & Resorts share price gained 4.97% and touched a 52-week high after Jefferies initiated coverage, forecasting 19% to 20% CAGR in EBITDA and profit after tax between FY26 and FY29.
