The Sensex ended the day at 81,307, down 694 points or 0.9%, hitting a low of 81,292 during the session. The Nifty 50 similarly tumbled to 24,870, closing 214 points lower.
Despite today’s sharp fall, both indices registered positive weekly gains, with the Sensex up 709 points and the Nifty 50 up 239 points this week.
Broader Market Performance
The broader indices saw relatively smaller losses:
- BSE MidCap: down 0.2%
- BSE SmallCap: down 0.3%
Despite the losses, India VIX, a gauge of market volatility, decreased 3.5%, suggesting that investor sentiment remained cautious but not overly fearful.
You may also like: Pharmaceutical sector report and expert insights in detail
Impact on the stock market
Sector-wise performance
- Banking stocks led the profit-taking, with Kotak Mahindra Bank, HDFC Bank, and SBI all shedding around 1%. These stocks had been major contributors to the recent rally.
- FMCG stocks such as ITC, Nestle, and Colgate Palmolive were down by up to 2%, as investors took profits after a strong run between August 18–20.
- Metals also saw some declines, with Tata Steel and UltraTech Cement among the hardest hit, down by around 2% each.
| Sector/Index | Performance |
| IT & BPM sector | -0.79% |
| Healthcare sector | 0.11% |
| Oil & Gas sector | -0.83% |
| Real estate sector | -0.84% |
| PSU Bank in India | -1.12% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| M&M | 14,349.00 | 0.83 |
| Maruti Suzuki | 1,933.30 | 0.48 |
| Bharti Airtel | 374.85 | 0.18 |
| Bharat Elec | 3,621.00 | 0.17 |
| Titan Company | 14,349.00 | 0.13 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Asian Paints | 2,504.50 | -2.42 |
| Grasim | 2,813.80 | -2.34 |
| Adani Enterpris | 2,324.90 | -2.20 |
| UltraTechCement | 12,589.00 | -2.18 |
| Hero Motocorp | 4,997.90 | -1.95 |
Market aftermath: Impact on stocks
FMCG sector: Profit-booking continues
The Nifty FMCG index fell 1%, continuing its downward trend after the 4% surge between August 18–20, following hopes of GST reforms.
- ITC, Nestle, and Colgate Palmolive were the biggest losers, dropping nearly 2% each.
- On the other hand, stocks like Varun Beverages, Tata Consumer Products, and Godrej Consumer Products showed some resilience, with marginal gains.
Despite the dip, Axis Securities remains optimistic on the FMCG sector for the medium to long term, citing strong rural demand and potential recovery in volume growth over the next few quarters.
Also read: FMCG sector report and expert insights in detail
Crude-sensitive stocks hit as oil prices rise
Crude-sensitive stocks such as Asian Paints, BPCL, and Indigo Paints fell due to rising oil prices.
- Brent Crude rose by 0.3% to $67.85 per barrel.
- WTI Crude increased 0.33%, hovering around $64 per barrel.
Stocks like Asian Paints and Bharat Petroleum (BPCL) took a hit as rising oil prices increase input costs for paint, tyre, and oil companies. These sectors remain highly sensitive to fluctuations in oil prices, which act as major cost drivers.
The geopolitical situation remains fluid, with the Russia-Ukraine conflict continuing to disrupt global supply chains, including oil.
Nazara Technologies drops 4% on online gaming suspension
Nazara Technologies saw its shares fall by 4% after it announced that its associate, Moonshine Technologies, which operates PokerBaazi, has halted its money-based online gaming operations.
This is in response to the Promotion and Regulation of Online Gaming Bill, 2025, which seeks to ban real-money online games.
- Nazara holds 46.07% in Moonshine Technologies, and the announcement has raised concerns over its $122 million investment in PokerBaazi.
- The stock closed at ₹1,158 after the announcement, continuing its downward trend.
While Nazara Technologies clarified that Moonshine’s revenue isn’t consolidated in its books, the news is still concerning for investors, as it could lead to a write-down of its investment in the gaming platform.
You may also read: Online gaming bill puts Nazara’s ₹ 805 crore PokerBaazi bet at risk
Crude oil update
Despite the fading hopes of a Russia-Ukraine peace deal, crude oil prices continued to rise today.
- Brent Oct futures were at $67.56, down 0.16%.
- WTI Oct futures traded at $63.45, down 0.11%.
- MCX September crude was at ₹5,555, down 0.14%.
The ongoing Russia-Ukraine tensions, along with potential secondary tariffs on Indian imports of Russian oil, continue to impact oil prices. These tariffs could lead to supply chain disruptions, further impacting prices and global markets.
Conclusion
The Indian stock market saw a sharp pullback today, as profit-booking in banking, FMCG, and crude-sensitive stocks took centre stage. Despite the losses, both Sensex and Nifty finished the week in the green, indicating some resilience in the market.
The market seems to be in a wait-and-watch mode ahead of Jerome Powell’s speech tonight, with global interest rate expectations in focus. The FMCG sector may face continued pressure in the short term, while crude-sensitive stocks will be closely tied to oil price movements and geopolitical tensions.
For now, investors are likely to stay cautious as they watch for global cues and domestic developments, particularly in GST reforms and monetary policy.
For more stock market insights, check out the StockGro blog.
