India Stocks Review
Down as crude oil up at nearly $97 per barrel; IT shares fall
This story was originally published at 16:38 IST on 7 September 2026
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By Adhithya Aji
MUMBAI – The benchmark indices ended lower Monday as higher crude oil prices and the continuing war in West Asia hurt investor sentiment. The November futures contract of Brent Crude was close to $97 per barrel when the market closed. Information technology companies and index heavyweight Reliance Industries were the major laggards in the benchmark indices. Media company shares also fell sharply with negative news flow affecting two major companies--Zee Entertainment Enterprises and PVR INOX. The broader market indices ended mixed.
The Nifty 50 ended 0.5% lower than Friday at 23779.15 points. The BSE Sensex closed at 76132.81, also down 0.5%. "Domestic main benchmark indices and large-cap stocks remain influenced by developments in the Strait of Hormuz, while the broader market shows a clear divergence, with small-caps and select mid-caps rally backed by stronger earnings," Vinod Nair, head of research at Geojit Investments, said in a note.
IT behemoth Infosys ended nearly 4% lower and was the worst-hit stock among the Nifty 50 constituents. Its technology peers Tech Mahindra, Wipro, Tata Consultancy Services, and HCL Technologies also closed 1-2% lower. Stronger than expected jobs data in the US heightened expectations for an interest rate hike by the US Federal Reserve. This has led to a negative sentiment in Indian IT stocks because if interest rates go up in the US, clients in the country may cut down on their spending.
Financial services players HDFC Life Insurance Co., SBI Life Insurance Co., Jio Financial Services, and Bajaj Finserv also closed 1-2% lower. Metal companies JSW Steel and Tata Steel closed nearly 2% lower each.
Apollo Hospitals Enterprises ended over 1% higher and was the best performing stock in the Nifty 50. Larsen & Toubro, Coal India, Bharti Airtel, Max Healthcare Institute, and Cipla closed around 1% higher each.
The smallcap indices ended mixed while the midcap indices were down 0.4-0.5%. Among sectoral indices, Nifty Pharma closed 0.8% higher and was the best performer. Nifty Healthcare ended 0.7% higher. These were the only two sectoral indices to end higher. The Nifty Media was the worst-hit sectoral index, down nearly 3%. The Nifty IT closed over 2% lower.
The Nifty Media was weighed down by stocks of Zee Entertainment Enterprises and PVR INOX. Zee Entertainment fell after a report in The Economic Times said the Central Bureau of Investigation had registered a first information report against Chairman Emeritus Subhash Chandra. The probe pertains to alleged fraud involving loans of over INR 13.22 billion extended by LIC Housing Finance to Essel Group companies. Zee Entertainment fell over 6% and was the worst-hit stock in the Nifty 500.
PVR INOX also closed over 6% lower and was the second worst-hit stock in the Nifty 500. The exhibitor's shares fell after the company asked a senior executive to leave on charges of fraud. An internal investigation had revealed that a senior staff member had received kickbacks from real estate developers building cinema theatres. The kickbacks were made over several years and aggregated to around INR 2 billion, The Economic Times reported.
Shares of telecommunications major Vodafone Idea closed over 4% higher. The shares rose after the Supreme Court rejected the goods and services tax department's plea to demand INR 3.6 billion from the company. The tax demand pertains to the sale of the tower business of Vodafone Mobile Services to ATC Telecom Infrastructure.
* Of the Nifty 50 stocks, 13 rose, 37 fell
* Of the Sensex stocks, 7 rose, 23 fell
* On the NSE, 1,509 stocks rose, 2,084 fell, and 105 were unchanged
* On the BSE, 2,010 stocks rose, 2,474 fell, and 245 were unchanged
* Nifty Pharma: up 0.8%; Nifty Healthcare: up 0.7%; Nifty Media: down 2.9%
BSE NSE
Sensex: 76132.81, down 382.62 points or 0.5% Nifty 50: 23779.15, down 118.55 points or 0.5%
|
S&P BSE Sensitive Index |
Nifty 50 |
|
Lifetime High: 86159.02 (Dec. 1, 2025) |
Lifetime High: 26373.20 (Jan. 5, 2026) |
|
Record Close High: 85836.12 (Sept. 26, 2024) |
Record Close High: 26328.55 (Jan. 2, 2026) |
|
2026 1st day close: 85188.60 (Jan. 1) |
2026 1st day close: 26146.55 (Jan. 1) |
|
2026 Closing High: 85762.01 (Jan. 2) |
2026 Closing High: 26328.55 (Jan. 2) |
|
2026 Closing Low: 71947.55 (Mar. 30) |
2026 Closing Low: 22331.40 (Mar. 30) |
|
2026 High (intraday): 85883.50 (Jan. 5) |
2026 High (intraday): 26373.20 (Jan. 5) |
|
2026 Low (intraday): 71545.81 (Apr. 1) |
2026 Low (intraday): 22182.55 (Apr.2) |
|
2025 1st day close: 78507.41 (Jan. 1) |
2025 1st day close: 23742.90 (Jan. 1) |
|
2025 Closing High: 85720.38 (Nov. 27) |
2025 Closing High: 26215.55 (Nov. 27) |
|
2025 Closing Low: 72989.93 (Mar. 4) |
2025 Closing Low: 22082.65 (Mar. 4) |
|
2025 High (intraday): 86159.02 (Dec. 1) |
2025 High (intraday): 26325.80 (Dec.1) |
|
2025 Low (intraday): 71425.01 (Apr. 7) |
2025 Low (intraday): 21743.65 (Apr. 7) |
|
2024 1st day close: 72271.94 (Jan. 1) |
2024 1st day close: 21741.90 (Jan. 1) |
|
2024 Closing High: 85836.12 (Sept. 26) |
2024 Closing High: 26216.05 (Sept. 26) |
|
2024 Closing Low: 70370.55 (Jan. 23) |
2024 Closing Low: 21238.80 (Jan. 23) |
|
2024 High (intraday): 85978.25 (Sep. 27) |
2024 High (intraday): 26277.35 (Sept. 27) |
|
2024 Low (intraday): 70001.60 (Jan. 24) |
2024 Low (intraday): 21137.20 (Jan. 24) |
|
2023 1st day close: 61167.79 (Jan. 2) |
2023 1st day close: 18197.45 (Jan. 2) |
|
2023 Closing High: 72410.38 (Dec. 28) |
2023 Closing High: 21778.70 (Dec. 28) |
|
2023 Closing Low: 59288.35 (Feb. 27) |
2023 Closing Low: 17311.80 (Oct. 17) |
|
2023 High (intraday): 72484.34 (Dec. 28) |
2023 High (intraday): 21801.45 (Dec. 28) |
|
2023 Low (intraday): 58699.20 (Jan. 30) |
2023 Low (intraday): 17098.55 (Jan. 17) |
|
2022 1st day close: 59183.22 (Jan. 3) |
2022 1st day close: 17625.70 (Jan. 3) |
|
2022 Closing High: 63284.19 (Dec. 1) |
2022 Closing High: 18812.50 (Dec. 1) |
|
2022 Closing Low: 51360.42 (Jun. 17) |
2022 Closing Low: 15293.50 (Jun. 17) |
|
2022 High (intraday): 63583.07 (Dec. 1) |
2022 High (intraday): 18887.60 (Dec. 1) |
|
2022 Low (intraday): 50921.22 (Jun. 17) |
2022 Low (intraday): 15183.40 (Jun. 17) |
|
2021 Closing High: 61305.95 (Oct. 14) |
2021 Closing High: 18338.55 (Oct. 14) |
|
2021 Closing Low: 46285.77 (Jan. 29) |
2021 Closing Low: 13634.60 (Jan. 29) |
|
2021 High (intraday): 61353.25 (Oct. 14) |
2021 High (intraday): 18350.75 (Oct. 14) |
|
2021 Low (intraday): 46160.46 (Jan. 29) |
2021 Low (intraday): 13596.75 (Jan. 29) |
|
2020 Closing High: 47751.33 (Dec. 31) |
2020 Closing High: 13981.95 (Dec. 30) |
|
2020 Closing Low: 25981.24 (Mar. 23) |
2020 Closing Low: 7610.25 (Mar. 23) |
|
2020 High (intraday): 47896.97 (Dec. 31) |
2020 High (intraday): 14024.85 (Dec. 31) |
|
2020 Low (intraday): 25638.90 (Mar. 24) |
2020 Low (intraday): 7511.10 (Mar. 24) |
|
2019 High (intraday): 41809.96 (Dec. 20) |
2019 High (intraday): 12293.90 (Dec. 20) |
|
2019 Low (intraday): 35287.16 (Feb. 19) |
2019 Low (intraday): 10583.65 (Jan. 29) |
|
2018 High (intraday): 38938.91(Aug. 28)) |
2018 High(intraday): 11760.20 (Aug. 28) |
|
2018 Low (intraday): 32483.8 (Mar. 23) |
2018 Low (intraday): 9951.9 (Mar. 23) |
|
2017 High (intraday): 34005.37 (Dec. 26) |
2017 High(intraday): 10515.10 (Dec. 26) |
End
US$1 = INR 94.48
Edited by Rajeev Pai
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