The Sensex fell 382.62 points to close at 76,132.81 and the Nifty 50 lost 118.55 points to end at 23,779.15 on Monday, 7 September 2026, as IT, metal, PSU bank and media shares fell on escalating geopolitical tension, oil volatility and monetary tightening worries.
Nifty Pharma and Healthcare outperformed while IT, Metal, PSU Bank, Realty and Media lagged, with Infosys, SBI Life and HDFC Life the top Nifty losers.
Zee Entertainment fell over 6% to ₹85.78 after the CBI registered a case against promoter Subhash Chandra over an alleged ₹1,322 crore loan fraud, dragging Nifty Media down nearly 3%.
Avalon Technologies surged 10% on Nomura’s higher target of ₹2,767, and Brent crude rose 0.89% to $97.14 after the US and Iran attacked each other’s ships.
The Sensex fell 382.62 points, or 0.5%, to close at 76,132.81, while the Nifty 50 ended 118.55 points, or 0.5%, lower at 23,779.15.
The broader market was mixed. The Nifty MidCap fell 0.46%, while the Nifty SmallCap ended flat with a 0.02% rise.
Impact on the stock market
Sectoral gainers: Nifty Pharma and Nifty Healthcare outperformed, taking their turn as the market’s shelter of choice.
Sectoral losers: Nifty IT, Nifty Metal, Nifty PSU Bank, Nifty Realty and Nifty Media underperformed, with the media index falling nearly 3% as the Zee news rippled through the sector.
| Sector/Index | Performance |
| IT & BPM sector | -2.28% |
| Healthcare sector | 0.68% |
| Oil & Gas sector | -0.61% |
| Real estate sector | -1.70% |
| PSU Bank in India | -1.06% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Apollo Hospital | 8,760.00 | 1.27 |
| Larsen & Toubro | 3,999.00 | 0.88 |
| Coal India | 418.85 | 0.84 |
| Bharti Airtel | 1,854.00 | 0.76 |
| Max Healthcare | 992.00 | 0.73 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Infosys | 1,087.50 | -3.76 |
| SBI Life Insurance | 1,732.00 | -2.42 |
| HDFC Life | 533.20 | -2.42 |
| Jio Financial | 234.40 | -2.13 |
| Tech Mahindra | 1,564.00 | -2.06 |
Market aftermath: Impact on stocks
Zee Entertainment: Down Over 6% as the CBI Registers a Case Against Subhash Chandra
Zee Entertainment shares fell over 6% to close at ₹85.78 on September 7 after the Central Bureau of Investigation registered a case against promoter Subhash Chandra and others over alleged fraud involving more than ₹1,322 crore in loans from LIC Housing Finance. The case, based on an FIR registered on August 31, covers criminal conspiracy, cheating and criminal breach of trust among other offences, and dragged the Nifty Media index down nearly 3%.
The allegations centre on inflated net worth documents. LIC Housing Finance extended ₹500 crore to Vasant Sagar Properties and Pan India Infraprojects in March 2018 and another ₹480 crore to Digital Subscriber Management and Spirit Infrapower in August 2018, both secured by Chandra’s personal guarantees. The first loan relied partly on a certificate stating his net worth at $6.2 billion, around ₹59,113 crore, and the second on a certificate citing ₹40,562 crore. Both facilities defaulted, with ₹570.50 crore and ₹507.25 crore outstanding. The complaint says Chandra later reported his 2024 net worth at just ₹31.79 crore during insolvency proceedings and denied it had ever exceeded ₹40,000 crore. The CBI has named Chandra, the borrower companies, their directors and unknown public servants as accused.
V2 Retail: Up 3.7% as Motilal Oswal Initiates With a ₹275 Target
V2 Retail shares rose 3.7% to ₹224.49 after Motilal Oswal initiated coverage with a Buy rating and a target price of ₹275, implying 27% upside. The brokerage expects revenue to compound at 40% a year between FY26 and FY29, with operating profit growing at 38% and net profit at 35%, driven by the addition of nearly 450 stores, around 5% same store sales growth and operating leverage.
The thesis is a value fashion retailer built for Bharat. V2 serves price sensitive households through 400 stores across more than 300 tier 2 and tier 3 cities, with a 90% private label mix and 35 to 40% in house design giving it control over product economics. Motilal Oswal sees the network reaching around 770 stores by FY29 and notes that every 1% of same store sales growth adds 7 to 11% to operating profit. The risks it flags are execution and site selection during rapid expansion, rising competition in value fashion, and assortment risk if the in house design share climbs further, with margins expected to moderate to around 9% through FY29 as store additions weigh on leverage.
Avalon Technologies: A 10% Surge as Nomura Raises Its Target on the Zollner JV
Avalon Technologies jumped as much as 10.35% to ₹2,424 after Nomura maintained its Buy rating and raised its target price to ₹2,767, implying around 26% upside. The stock has now surged around 172% in 2026, nearly tripling in a year when the Nifty 50 has fallen about 9%, taking its market value past ₹16,000 crore.
The excitement is about the joint venture with Germany’s Zollner Elektronik, a $3.7 billion revenue electronics manufacturer whose customers include BMW, Bosch, Siemens and Teradyne. The India venture will make printed circuit board assemblies, box build products and system integration products for healthcare, test and measurement, rail and industrial customers. Zollner starts with 51% and Avalon 49%, with an option for Avalon to buy an additional 2% three years after commercial production begins and become the majority shareholder. Nomura estimates the investment at $30 to 50 million and calculates that at the $40 million midpoint, with asset turns of 10 times and margins of 15 to 17%, the venture could lift Avalon’s FY29 earnings per share by around 21%, while opening access to global customers and a wider European presence.
Crude Oil: Past $97 as the US and Iran Attack Each Other’s Ships
Crude oil futures rose on Monday morning after the US and Iran attacked each other’s ships over the weekend. November Brent futures were at $97.14, up 0.89%, and October WTI futures gained 0.97% to $92.37. On the MCX, September crude futures rose 1.56% to ₹8,712.
US Central Command said its forces struck three Iranian crude carriers on September 5 after the Islamic Revolutionary Guard Corps launched ballistic missiles at two US Navy warships. The tankers Downy and Stark 1 were permanently disabled and the Kylo destroyed, with CENTCOM describing them as part of a shadow network funding the IRGC. Commander Adm Brad Cooper’s warning was blunt: shoot at two of our ships and we will take out three of yours. Iran, for its part, plans a new restricted zone outside the Strait of Hormuz, putting more vessels in the Gulf of Oman at risk. Even so, oil keeps moving, with the US energy secretary putting Hormuz flows at a little over 9 million barrels a day under navy escort, and OPEC+ kept its October output quotas unchanged. Elsewhere, natural gas fell 0.86% to ₹278.10 on the MCX, while turmeric rose 0.80% to ₹20,566 and cottonseed oilcake added 0.63% to ₹2,860 on the NCDEX.
Conclusion
Monday put the market back where August left it: benchmarks pinned by geopolitics, defensives outperforming and oil setting the agenda with Brent above $97. The Zee case is a reminder that governance risk can erase value in a single headline, while Avalon’s 172% year shows the flip side, with the market paying richly for credible growth. The escalation from strikes on land to attacks on ships marks a new phase in the US Iran conflict, and Iran’s planned restricted zone is the next thing to watch. Stay defensive at the index level, stay selective underneath, and treat every barrel above $97 as a warning light.
