Sectoral Snapshot Today, October 8, 2026: Metal, Auto, Energy, Realty Stocks Tumble; All Sectors In Red

Mumbai, October 8: Indian sectoral indices ended sharply lower on Thursday, with stocks across the market coming under heavy selling pressure as the Reserve Bank of India’s hawkish policy shift, rising crude oil prices and sustained foreign investor outflows weighed on sentiment. Nifty Metal, Auto, Energy, FMCG, Infrastructure, Media, Oil & Gas, Pharma and Realty indices fell 2-3%, while Nifty Midcap and Smallcap indices also declined more than 2% each. 

Metal Stocks Slide 

Metal stocks were among the worst performers, with JSW Steel emerging as one of the biggest Nifty 50 losers. JSW Steel shares fell 4.5%, while Vedanta also declined 3.2% as investors cut exposure to cyclical stocks amid the broader risk-off mood. Tata Steel and Hindalco Industries were also under pressure as the selloff spread across the metals space. Adani Enterprises, which is the flagship firm of Adani group, fell 5.4% ending up as the biggest loser on Nifty 50. 

Energy, Oil & Gas Stocks Fall 

Energy stocks declined as Brent crude rose above $102 a barrel amid continued concerns over Middle East supplies. Refining to telecom giant Reliance Industries fell 2.5%. Upstream firms ONGC and Oil India came under pressure along with other oil and gas counters as investors assessed the impact of elevated crude prices on the domestic economy. Downstream fuel retailers HPCL, BPCL and Indian Oil Corp also fell. 

Higher oil prices are a concern for India because of its heavy dependence on crude imports. Sustained high prices could increase inflationary pressure, weigh on the rupee and raise input costs for companies across sectors. 

Auto Stocks Under Pressure 

Auto stocks also faced heavy selling, with the Nifty Auto index falling around 2%. Tata Motors Passenger Vehicles, Mahindra & Mahindra, Maruti Suzuki and Bajaj Auto declined as investors reacted to the broader risk-off environment and concerns over the impact of higher interest rates on demand. 

The selling followed the RBI’s decision to raise the repo rate by 25 basis points to 5.5% on Wednesday and shift its stance from neutral to calibrated tightening. The move raised concerns over borrowing costs for rate-sensitive sectors. 

Realty Stocks Decline 

Realty stocks also fell sharply, with DLF, Godrej Properties, and Prestige Estates Projects among the stocks facing pressure. Higher interest rates can increase financing costs and potentially affect housing demand, making real estate stocks particularly sensitive to the RBI’s tighter policy stance. 

FMCG, Pharma Stocks Also Fall 

FMCG stocks declined despite their defensive characteristics, with Hindustan Unilever, ITC, Nestle India and Britannia Industries coming under selling pressure. ITC was among the biggest Nifty 50 losers, falling 4%. 

Pharma stocks also ended lower, with Sun Pharma, Dr Reddy’s Laboratories, Cipla and Divi’s Laboratories declining. Healthcare stocks also declined with Max Healthcare ending up among the biggest Nifty 50 losers. 

Infrastructure, Media Stocks Slide 

Infrastructure stocks fell broadly. Larsen & Toubro, Adani Ports and Adani Power faced pressure as investors reduced exposure to cyclical and high-beta stocks. 

Media stocks declined as well, with Zee Entertainment Enterprises and Sun TV Network among the counters under pressure. Sun TV ended a three session winning run even as a broker retained buy rating on the stock. 

The sector remained caught in the wider market selloff. 

IT Stocks Show Relative Resilience 

IT stocks were among the few areas to show resilience. Infosys and Tech Mahindra gained, while Tata Consultancy Services slipped 0.2% ahead of its September-quarter results. 

TCS kicked off the earnings season for major companies after market hours. The firm reported revenue marginally ahead of analysts’ expectations, helped by AI-led demand and growth in its banking vertical. The performance of Infosys, HCL Technologies and TCS could set the tone for the IT sector as investors assess whether earnings growth can withstand broader macroeconomic pressures. 

Banking Stocks Also Weaken 

Banking stocks declined, although the fall was less severe than in several other sectors. ICICI Bank fell 0.6%, while State Bank of India also ended lower. Axis Bank was among the few gainers. 

The banking sector’s performance came under focus after the RBI’s rate hike, with investors assessing the potential impact of higher rates on credit growth, funding costs and asset quality. 

Source

•  NSE