The Sensex crashed 813.35 points to close at 74,764.23 and the Nifty 50 lost 203.60 points to end at 23,431.50 on Wednesday, 9 September 2026, a third straight decline as Brent crude hit the $100 per barrel mark on escalating US Iran tensions.
Nifty IT fell over 3% as the worst sector while Nifty Metal outperformed, with Infosys, HCL Technologies and Tech Mahindra the top Nifty losers.
Graphite India soared nearly 18% and HEG hit the upper circuit after GrafTech announced a minimum 30% graphite electrode price hike, while Enviro Infra rose up to 10% on a ₹190 crore wind project order.
Biocon gained up to 3% after a ₹635 crore block deal, and Brent traded at $99.34 after the US destroyed five Iranian crude carriers.
The Sensex fell 813.35 points, or 1.08%, to close at 74,764.23, while the Nifty 50 ended 203.60 points, or 0.86%, lower at 23,431.50.
The broader market offered no shelter this time. The Nifty MidCap fell 0.51% and the Nifty SmallCap declined 0.48%, ending the resilience they had shown through the earlier sessions of this slide.
Impact on the stock market
Sectoral gainers: The Nifty Metal index outperformed, the only meaningful pocket of strength on the sectoral board, helped by the electrode rally.
Sectoral losers: The Nifty IT index fell over 3% to settle as the worst performer by a wide margin, while the Nifty Realty index also underperformed.
| Sector/Index | Performance |
| IT & BPM sector | -3.24% |
| Healthcare sector | -0.26% |
| Oil & Gas sector | -0.14% |
| Real estate sector | -2.23% |
| PSU Bank in India | -0.51% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Adani Enterprise | 3,104.70 | 5.13 |
| Max Healthcare | 1,037.50 | 4.48 |
| Adani Ports | 1,775.00 | 3.80 |
| Coal India | 431.00 | 2.56 |
| Tata Steel | 188.75 | 2.50 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Infosys | 1,035.00 | -4.34 |
| HDFC Life | 514.00 | -3.71 |
| HCL Tech | 1,229.80 | -3.70 |
| Tech Mahindra | 1,508.00 | -3.27 |
| Wipro | 167.00 | -2.62 |
Market aftermath: Impact on stocks
Enviro Infra: Up 10% on a ₹190 Crore Wind Project Order
Enviro Infra Engineers rose nearly 10% to a near one month high of ₹215 after its step down subsidiary Suyog Urja secured a ₹190 crore engineering, procurement and construction turnkey contract from Tata Power Renewable Energy. The contract covers a 180 MW NTPC wind power project in Parli, Maharashtra.
The scope is comprehensive: supply of reinforcement steel, geotechnical work and balance of plant operations, including a fully equipped 39 acre storage yard, logistics coordination, construction of site roads, pathways and crane pads, and work on a 33 kV transmission line. The win lifted the whole neighbourhood, with VA Tech Wabag rising nearly 7% to ₹2,143.90 and Denta Water and Infra Solutions gaining 2% to ₹284.45 in a rub off effect.
Biocon: Up 3% on a ₹635 Crore Block Deal and a $1 Billion Biosimilars Ambition
Biocon shares rose as much as 3% before trading 1.2% higher at ₹397 after a large block deal involving around 1% of the company’s equity. About 1.65 crore shares changed hands on the BSE at ₹385 apiece, a 1.9% discount to the previous close, taking the transaction value past ₹635 crore. According to a term sheet accessed by CNBC TV18, True North owned Active Pine, which held a 1.08% stake as of June 30, was likely the seller.
The buying interest that absorbed the sale rests on the growth story. Biocon said it is confident its biosimilars business can soon reach $1 billion in revenue, without committing to a timeline, supported by strong insulin demand and traction in newer products such as aflibercept. The company is targeting double digit biosimilars revenue growth with margins in the mid 20% range. The stock is up around 2.3% in 2026 against the Nifty 50’s roughly 10% fall, with a market value near ₹64,650 crore.
Graphite India and HEG: An Electrode Rally on GrafTech’s 30% Price Hike
Graphite India surged nearly 18% to ₹865, topping the BSE Smallcap index, while HEG Advanced Materials hit its 5% upper circuit at ₹271.5, after US based GrafTech International announced a minimum 30% increase in graphite electrode prices, effective immediately for all open commercial negotiations. GrafTech’s own shares had jumped around 15% on Wall Street overnight, and the move follows its earlier pricing action in March and a 51,000 tonne capacity reduction that points to tighter global supply.
The read through for India is direct. A CNBC TV18 report suggested the hike could translate into an increase of around $1,500 per tonne in Indian electrode realisations, which would flow straight into margins if sustained. Graphite India, the country’s largest producer with 80,000 tonnes of annual capacity and the only listed pure play on electrodes, had already reported a strong June quarter, with profit up 28.4% to ₹172 crore on revenue growth of 26.6% to ₹842 crore. The stock is now up around 32% in 2026. HEG’s electrode operations are being demerged into HEG Graphite, expected to list separately next month, while the existing listed entity retains the advanced materials and green power businesses.
Crude Oil: Brent Touches $100 After the US Destroys Five Iranian Tankers
Brent crude neared the $100 mark on Wednesday as fresh strikes raised supply fears, with November futures at $99.34, up 1.45%, and October WTI at $94.22, up 1.28%. On the MCX, September crude futures jumped 2.30% to ₹8,935.
US Central Command said its forces destroyed five Iranian crude carriers, the Kaviz, Charminar, Horizon 1 and Riesco in the Gulf of Oman and the Derya near Kharg Island, on September 8, after the Islamic Revolutionary Guard Corps twice targeted a US Navy warship with ballistic missiles. The warship evaded both attacks and crews were directed to abandon the tankers before they were struck. ING said it seems only a matter of time before Brent decisively breaks $100 and that a sizeable risk premium will persist, though it noted Hormuz flow estimates are edging higher to around 10 million barrels a day, roughly half pre war levels and in line with US claims.
Conclusion
Wednesday was the day the oil crisis got a round number. Brent at $100 knocked 813 points off the Sensex, sent IT down over 3% and finally pulled the broader market into the fall. Yet Graphite India’s 18% surge, the electrode rally, Enviro Infra’s order win and Biocon’s billion dollar ambition showed capital still hunting specific opportunities. The tension now is stark: tanker destruction on one side, resilient Hormuz flows on the other. If flows keep recovering, the $100 print may mark peak fear; if Iran makes good on its energy asset threats, there is more downside ahead. Position for both, keep cash ready, and let the barrel count guide the risk dial.
