Sectoral Snapshot Today, September 30, 2026: Metals, Pharma Fall; Banks, Media Gain

Mumbai, September 30: Indian equity markets witnessed mixed sectoral performance on Wednesday, with metal and pharmaceutical stocks coming under pressure while banking, realty and media shares attracted buying interest. The divergence came amid a volatile session in which the benchmark indices failed to sustain their early gains. 

The Nifty Metal and Nifty Pharma indices declined more than 1% each, emerging as the biggest sectoral drags on the benchmark. Weakness in these pockets weighed on the Nifty even as select heavyweight stocks from other sectors helped limit the downside. 

Metal, Pharma Stocks Under Pressure 

Metal stocks faced selling pressure during the session, with the sector among the worst performers on the NSE. The decline came against a backdrop of continued caution in the broader market and elevated crude oil prices, which remain a concern for the domestic economy and corporate margins. Vedanta Aluminium Metal fell 5% while Adani Enterprises declined 2.3%. The flagship of Adani group had risen 5% yesterday after after the Securities and Exchange Board of India (SEBI) disposed of proceedings against chairman Gautam Adani and four group companies in a matter concerning alleged violations of public-shareholding requirements.  

Pharmaceutical stocks also came under pressure, with the sectoral index falling more than 1%. The weakness added to the pressure on the benchmark despite gains across several other sectors. Glenmark Pharmaceuticals fell 4.4% while Sun Pharmaceutical declined 2.6%. 

PSU Banks, Private Banks Gain 

Banking stocks provided some support to the market, with both PSU banks and private banks gaining up to 1% each. 

ICICI Bank and Kotak Mahindra Bank were among the top Nifty gainers, rising 2.3% and 2.7%, respectively, helping cushion the impact of declines in metal and pharmaceutical stocks. Buying in banking shares also contributed to the relative resilience of the broader market during the session. 

Realty, Media Stocks Rise 

Realty stocks also advanced between 1% and 2%, extending gains across the sector. Media stocks similarly traded higher, adding to the list of sectors that bucked the broader weakness in the headline indices. Shares of Tamil Nadu-based entertainment company Sun TV Network rose 9.3%, extending their gains for an eighth straight session. The stock rallied after a CNBC-Awaaz report said the company was preparing for a potential demerger of the assets of its cricket franchise, SunRisers Hyderabad. 

The gains in these sectors helped offset selling elsewhere and kept the overall market decline relatively contained. 

The sectoral divergence was also reflected in the broader market. The Nifty Midcap index ended flat, while the Nifty Smallcap index gained 0.2%, indicating that investor interest remained selective beyond large-cap stocks. 

The Nifty ended 95.75 points, or 0.42%, lower at 22,620.45, while the Sensex declined 48.78 points, or 0.07%, to 72,480.29. With September trading now over, market participants will enter the October series with crude oil prices, foreign fund flows, global bond yields and corporate earnings among the key factors to watch. 

Source

• NSE