Navia Weekly Roundup (Sep 28 – Oct 1, 2026)
Week in the Review
Indian equity markets extended their losing streak to the eighth consecutive week, marking the longest weekly decline in 25 years. In the holiday-shortened week, both benchmark indices recorded their steepest weekly fall in several months, weighed down by weak global and domestic cues. Elevated Brent crude prices amid renewed tensions in the Middle East, rising global bond yields, persistent foreign fund outflows and a weakening rupee added to the market’s woes.
Indices Analysis
For the holiday-shortened week ended Thursday, October 1, with markets closed on Friday for Gandhi Jayanti, the BSE Sensex fell 2.30%, to end at 71,909.70, while the Nifty 50 shed 3.00%, to close at 22,421.95, a six-month low. The Bank Nifty slipped 2.07% to 54,450.75, while the Fin Nifty declined 1.66% to 24,556.10. The eighth straight weekly fall is the benchmarks’ longest losing run since 2001, and the broader market fared even worse, with the Midcap 100 and Smallcap 100 down 3.5% and 3.3%.
Thursday capped four consecutive losing sessions, with the Sensex sliding 570.59 points to the close after touching an intraday low of 71,292.88. Foreign institutional investors have now sold a record $27.8 billion of Indian equities in 2026, as US treasury yields near two-decade highs on expectations of further Fed tightening narrowed the India-US yield differential and weakened the rupee, while DII buying continued to cushion the fall. Midweek, hospital stocks sold off sharply after the Supreme Court sought the Centre’s response on whether a uniform cap should be imposed on retail prices of medicines and medical devices, with Apollo Hospitals and Fortis falling over 5% each on Wednesday on fears of a hit to hospital pharmacy margins.
Thursday brought a fresh blow from autos: the Nifty Auto index slumped around 3% in the session after September sales updates, with Bajaj Auto crashing as much as 9% as domestic volumes declined despite strong export growth, and Mahindra & Mahindra dropping to a fresh 52-week low, while Hyundai Motor India bucked the trend on record monthly sales. The bright spots were few but notable: Nifty IT was the week’s only sectoral gainer, helped by softer US inflation data, and Kotak Mahindra Bank rose 3% on Thursday after the RBI approved Anup Kumar Saha, the former Bajaj Finance chief, as its next MD and CEO for three years from January 1, 2027, succeeding Ashok Vaswani.
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Sector Spotlight
| Top Sector Gainers | Change | Top Sector Losers | Change |
|---|---|---|---|
| IT | +0.5% | Consumer Durables | -6% |
| Auto | -5.8% | ||
| Metal | -4% | ||
| FMCG | -4% | ||
| PSU Bank | -4% | ||
| Realty | -3% | ||
| Healthcare | -3% | ||
| Infra | -3% | ||
| Oil & Gas | -3% |
All sectoral indices ended lower during the week, except Nifty IT, which gained 0.5%. Nifty Consumer Durables was the biggest loser, falling 6%, followed by Nifty Auto, which declined 5.8%. Nifty Metal, FMCG and PSU Bank indices shed more than 4% each, while Nifty Realty, Healthcare, Infra and Oil & Gas indices declined more than 3% each.
Top Gainers and Losers
| Top Gainers | Change | Top Losers | Change |
|---|---|---|---|
| Kotak Mahindra Bank | +3.30% | Bajaj Auto | -10.38% |
| Axis Bank | +2.58% | Max Healthcare Inst. | -10.04% |
| Infosys | +2.02% | Apollo Hospital Ent. | -8.49% |
| HDFC Life Insurance | +1.39% | ONGC | -6.96% |
| Interglobe Aviation | +0.82% | Titan Company | -6.56% |
Kotak Mahindra Bank led the gainers with a 3.30% rise on its CEO announcement, followed by Axis Bank, while Infosys and HDFC Life gained as IT and select financials found buyers. On the losing side, Bajaj Auto crashed 10.38% after weak September domestic sales, Max Healthcare and Apollo Hospitals tumbled over 8% each on the Supreme Court’s price-cap query, ONGC slid with correcting crude, and Titan mirrored the slump in consumer durables.
Commodity Corner
| Commodity (MCX) | Weekly Close | Weekly Change |
|---|---|---|
| Gold (10g) | ₹1,47,770 | -2.38% |
| Silver (1kg) | ₹2,21,443 | -4.47% |
| Crude Oil (bbl) | ₹8,679 | -4.35% |
| Natural Gas (mmBtu) | ₹290.40 | -8.16% |
It was a sea of red across commodities. Gold slipped 2.38% and silver fell a sharper 4.47%, while crude oil corrected 4.35% from its recent surge and natural gas dropped 8.16% on MCX.
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