The Indian stock market witnessed a decline on Wednesday with the Nifty 50 index falling 38.85 points or 0.16% to 24,168.90 and the S&P BSE Sensex declining 9.92 points or 0.01% to 77,222.74 as of latest trading data. According to market reports, the broader market outperformed the frontline indices with the BSE 150 MidCap Index shedding 51.40 points or 0.08% and the BSE 250 SmallCap Index falling 188.30 points or 0.25%. Market breadth remained negative with 1,766 shares rising, 2,284 shares falling, and 236 shares unchanged on the BSE. As per Upstox Securities, the SENSEX fell as much as 121 points and NIFTY50 index touched an intraday low of 24,031 dragged down by losses in heavyweights like HDFC Bank, State Bank of India, Axis Bank, ICICI Bank, TCS and Eternal.
The Nifty PSU Bank index declined 75.95 points or 0.88% to 8,593.55, reversing gains from the previous two trading sessions where it had jumped 1.52%. As reported by market data, major PSU banks including Bank of Maharashtra (down 1.34%), UCO Bank (down 0.65%), Central Bank of India (down 0.42%), Canara Bank (down 0.42%), State Bank of India (down 0.41%), Bank of Baroda (down 0.33%), Punjab National Bank (down 0.32%), Indian Overseas Bank (down 0.27%), Union Bank of India (down 0.26%), and Bank of India (down 0.24%) all declined during the session. The Nifty Bank index specifically fell 88.60 points or 0.15% to 57,695.15.
Stock exchanges imposed significant penalties on three major PSU companies for board composition non-compliance. NTPC received notices from BSE and NSE with each imposing a penalty of ₹5,36,900 (inclusive of GST) on account of non-compliance with Regulation 17(1) of the listing regulations. In its reply to the exchanges, NTPC stated it is a government company and "as per the Articles of Association of the Company, the power to appoint or remove directors vests with the President of India through its administrative ministry, i.e., the Ministry of Power." SJVN received separate fines of ₹13,44,020 from both BSE and NSE for non-compliance of certain SEBI listing regulations, with the company also seeking waiver citing government control over director appointments. REC received notices from NSE and BSE regarding non-compliance during the quarter ended June 30, 2026, with each exchange imposing a fine of ₹10,77,340 for board composition issues.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.84% to 11.18. According to Business Standard, the Nifty 29 September 2026 futures were trading at 24,310, at a premium of 160.7 points compared with the spot price of 24,149.30. The Nifty option chain for the 29 September 2026 expiry showed a maximum call OI of 56.4 lakh contracts at the 25,000 strike price and a maximum put OI of 55.5 lakh contracts at the 24,000 strike price.
Titan Company shares hit a new 52-week high of ₹5,178.60, contributing 292.34 points to the market gains. As reported by market data, Kalyan Jeweller also performed well with shares rising 64.49 points to ₹6,292.50. However, HDFC Bank shares fell over 2% to hit a 52-week low following shareholder lawsuits, with a spokesperson noting that such lawsuits are common in the banking sector. ICICI Prudential Asset Management Company saw 9.92 million shares traded in a block transaction, while Global Health shares rose 4.83% to ₹1,529.40* on high volume activity.
