Sectoral Snapshot Today, September 10, 2026: Media, Financials Lead Gains; Metal, Auto, Pharma Stocks Drag

Mumbai, September 10: Indian equities ended marginally higher on Thursday, with media and financial stocks supporting the benchmark indices after the previous session’s sharp selloff, while metal, auto and pharma stocks remained under pressure. The Nifty gained 46.30 points, or 0.20%, to close at 23,477.80, while the Sensex rose 138.36 points, or 0.19%, to 74,902.59. 

The recovery was selective, however, with market breadth remaining weak. A total of 1,872 stocks advanced on the NSE, while 2,272 declined and 155 ended unchanged. The Nifty Midcap index fell 0.4%, while the Smallcap index ended unchanged. 

Media stocks gain 

Media stocks emerged as one of the strongest-performing sectors on Thursday, with the sectoral index ending higher despite the cautious mood across the broader market. The gains came even as investors remained wary following Wednesday’s sharp decline in the benchmarks. PVR INOX jumped 4.5% with its Rs 300 crore buyback opening today. Zee Entertainment Enterprises fell 3.3% after founder Subhash Chandra warned Meta, YouTube, X and LinkedIn India of legal action unless they amend content published earlier about his personal insolvency case within a week. 

The sector outperformed several major segments of the market, where selling remained visible. 

Financials provide key support 

Financial stocks also contributed to the recovery, with both PSU banks and private banks ending in positive territory. The Nifty Bank gained 0.3%, while the financial services index rose 0.6%. HDFC Bank snapped a three-session losing streak, rising 1%, as analysts pointed to three key positives for the stock — clarity on CEO succession, resolution of the US legal case and stabilisation in net interest margins (NIMs). HDFC Life Insurance Company ended up as the top gainer on the Nifty. 

Metal, auto and pharma stocks drag 

Metal stocks were among the key laggards, with the sectoral index falling 0.6%. Hindalco Industries and Tata Steel featured among the major Nifty losers, adding to pressure on the cyclical segment. Welspun Corp bucked the trend rising 6.5%. 

Auto and pharma stocks also declined around 0.5% each, with Mahindra & Mahindra among the prominent losers in the auto space. Outside the auto index, electric two wheeler maker Ather Energy rose 5% after a global brokerage retained its ‘Buy’ rating citing launch of mass-market Konarc electric scooter, expectations of faster electric vehicle adoption and an improved growth trajectory. Ola Electric Mobility also rose 5% after declining for two consecutive sessions. 

Energy stocks remain in focus 

Energy stocks remained closely watched as Brent crude held above $100 a barrel amid escalating tensions in the Middle East. ONGC and Oil India gained 1.4% and 0.3% respectively as elevated crude prices supported sentiment towards upstream oil producers. 

The oil market remains a key driver of sentiment for Indian equities, with concerns over potential supply disruptions adding to worries about inflation and the country’s import bill. 

For India, a sustained rise in crude prices could put pressure on the rupee, inflation and corporate margins, particularly across sectors that are heavily dependent on fuel and imported inputs. 

Broader market remains cautious 

The sectoral divergence underscored the fragile nature of Thursday’s recovery. While media and financial stocks helped the Nifty and Sensex regain some ground, weakness across metals, autos and pharmaceuticals, along with poor market breadth, suggested that investors remained selective. 

Brent crude staying above $100 a barrel and continuing geopolitical tensions in the Middle East are likely to remain key risks for domestic equities. Investors will also track upcoming US inflation data for clues on the Federal Reserve’s policy path next week. 

Source

• NSE