Stock Market Today LIVE: Sensex, Nifty 50 Near Day's Low; Tech Mahindra, ITC, SBI, Bharti Airtel Top Drags

Lower near-term tightening expectations support Bitcoin and Ethereum, but high yields, energy costs and a strong dollar keep broader market participation selective, said Nischal Shetty, Founder, WazirX.

According to him, immediate support for Bitcoin prices lies around $83,200-$83,300, while $83,600-$84,100 forms resistance. Holding support could preserve buyer control; losing it may expose $82,400-$82,700. Futures traders should monitor volume, open interest, and funding for directional confirmation.

For Ethereum, immediate support lies at $2,505, followed by $2,480. Resistance sits near $2,575 and the psychological $2,600 level. Holding support may preserve stability, while sustained activity above resistance could further strengthen momentum, Shetty said.

Motilal Oswal Financial Services believes Suzlon Energy stands to benefit from regulatory tailwinds mandating local content (ALMM for wind), a robust order book providing strong revenue visibility, and execution improvements through proactive land acquisition and EPC expansion initiatives.

Suzlon Energy share price has corrected 31% in the last three months and is now trading at 17.5x FY28E EPS, 20% lower than one-year forward mean -1SD of 22x, said Motilal Oswal.

The brokerage firm reiterated its ‘Buy’ rating on Suzlon Energy shares, with a target price of Rs 65, based on 30x FY28E EPS, a slight premium to its historical average two-year forward P/E of 27x.

Tech Mahindra, ITC, SBI, Bharti Airtel, Larsen & Toubro (L&T) and NTPC were among the top losers on the Nifty 50 index.

The Indian stock market extended losses to trade lower, with the benchmark indices falling over half a percent each and trading near day’s low. The Sensex declined over 400 points and the Nifty 50 slipped near 22,400. The Bank Nifty index fell nearly 1%.

Broader market outperformed, as the Nifty Smallcap 100 index rallied over 1% and the Nifty Midcap 100 rising 0.1%.

Tech Mahindra share price slipped over 4%, following a slide in US telecom stocks.

US telecom stocks tumbled amid concerns over SpaceX’s expanding wireless ambitions. T-Mobile declined 13%, AT&T slumped 9.8% and Verizon stock price declined 8.7%.

Tech Mahindra shares fell given its significant telecom sector exposure. Communications accounted for 32.3% of Tech Mahindra’s Q1 FY27 revenue. Telecom remains Tech Mahindra’s largest revenue-generating vertical. The impact of increased competition on telecom IT spending remains uncertain.

Tonbo Imaging India IPO will open on October 15 and close on October 19. The anchor book for institutional investors will open on October 14. Tonbo Imaging India IPO price band has been fixed at Rs 665–700 per share. The company aims to raise up to Rs 852 crore through the public issue, which comprises entirely an offer for sale (OFS) of 1.2 crore equity shares by existing shareholders. The company is seeking a valuation of Rs 4,010 crore.

The company is Bengaluru-based defence electronics original equipment manufacturer (OEM).
 

Tata Power Company said its subsidiary Tata Power Renewable Energy commissioned 419 MW of utility-scale projects in Q2FY27, representing over 130% year-on-year (YoY) growth compared to the 182 MW of utility-scale capacity executed during the corresponding quarter of the previous fiscal year.

It has also executed 131.2 MWhr of storage projects (101.2 MWhr of storage capacity for in-house TPREL, while the remaining 30 MWhr of storage capacity comprised third-party projects) during Q2FY27.

Rajesh Power Services share price jumped over 7% after the company announced securing Rs 471.92 crore turnkey contracts (inclusive of taxes) from Madhya Gujarat Vij Company Limited (MGVCL) for strengthening electricity distribution infrastructure across Gujarat.

The mega order will add over 10% to its order book in a single stroke and taking the total order book closer to Rs 4,000 crore, while securing 18 months of execution visibility. 

The contracts involve conversion of existing Hight Tension 11kV Overhead lines into Medium Voltage Covered Conductor (MVCC), as well as Underground Cable network at various locations across Gujarat under MGVCL’s SI Scheme Robust-III.

MCX Gold price is holding just above the Rs 150,000–150,700 support zone. Immediate resistance is at Rs 152,000–152,600, followed by the Rs 154,000–154,700 zone. Immediate support is at Rs 150,000–150,700, followed by Rs 147,300–148,000. The RSI at 48.84 is above its signal line. MCX gold is also lagging MCX silver, which is down 0.22%, although both are underperforming COMEX gains, said Ponmudi R, CEO of Enrich Money.

The divergence is being driven by the rupee. The RBI’s weekend package includes a dollar-supply window for state oil firms and a 20% cash margin on certain FX derivatives, with traders expecting at least a 1% appreciation in the rupee. A stronger rupee is trimming domestic bullion prices even as global prices edge higher. The bias remains cautious, with a sustained move above Rs 152,000 needed to extend gains; a decisive break below Rs 150,000 could trigger a slide toward Rs 148,000, he added.

Brent crude is trading around $105.40, while MCX crude oil has declined nearly 2.5% to around Rs 8,650, reflecting renewed selling pressure.

“Immediate support is placed at Rs 8,520 – Rs 8,380. Prices have weakened amid expectations that additional Russian diesel supplies could ease global fuel shortages, and claims that Russia and Ukraine had agreed to an immediate energy ceasefire. These developments could ease some supply concerns, although the situation remains fluid. Traders should closely monitor geopolitical developments and actual changes in energy flows, as any escalation or disruption could trigger renewed volatility in crude oil prices,” said Kaveri More, Commodity Technical Analyst, Choice Broking.

Overseas holdings in Indian equities is in a state of freefall, with the net FII exodus crossing Rs 3.04 lakh crore in 2026 so far. This nearly double as compared to the record Rs 1.66 lakh crore offloaded in 2025.

The Rs 3 lakh crore-mark was crossed after foreign institutional investors stayed net sellers on Friday, even as the markets staged a recovery. They net sold equities worth Rs 3,569 crore, even as the domestic institutional investors saved the day with a net mop-up of Rs 4,743 crore, according to NSE data.

The FII selling has been heavy throughout this month. Depository and exchange data showed FIIs sold Rs 9,232 crore on October 1, Rs 4,699 crore on Monday and Rs 6,121 crore on Wednesday, and Rs 12,944 crore on Thursday, when the Nifty 50 touched its lowest point of 2026.

Gold and silver prices in India traded lower on the Multi Commodity Exchange (MCX). MCX gold rate was down by Rs 984, or 0.65%, at Rs 1,50,515 per 10 grams, while MCX silver price traded lower by Rs 655, or 0.29%, at Rs 2,25,100 per kg.

Poonawalla Fincorp share price rallied over 8% after the company reported a strong Q2FY27 with RoA improving to ~2.2% supported by a 22% QoQ surge in PAT.

The stock has corrected 5–9% over the last one–two months leading to correction in current valuation to 2.2x of FY28E. The current multiple largely captures the growth opportunity, but it does not adequately reflect the potential improvement in return ratios and franchise quality, offering an attractive entry point, said JM Financial.

Factoring in margin expansion, improving operating efficiency and moderating credit costs, it raised FY27 and FY28 EPS estimates by ~3% and 4%.

The brokerage firm upgraded Poonawalla Fincorp shares to ‘Buy’ from ‘Add’ and raised the target price to Rs 550 from Rs 530 earlier, valuing the stock at 2.7x FY28E BVPS.

The RBI’s latest measures signal a clear intent to defend 97.00, said Amit Pabari, MD, CR Forex Advisors.

“The RBI’s measures could provide near-term support to the rupee by easing spot-market dollar demand and curbing excessive forex positioning. However, sustained recovery will depend on crude oil prices, capital flows and global market conditions,” said Pabari.

Technically, 96.70 to 97.00 is going to act as a strong resistance, and we believe the rupee is likely to move towards 95.80 to 95.50 in the near term, he added.

According to him, a break below 95.50 would strengthen the rupee’s recovery, opening the way towards 95.00–94.80. With Trump seeking cheaper Russian oil and US consumer confidence weakening, the rupee has fresh catalysts to extend its recovery.

Bitcoin price is trading around $83,800, showing signs of recovery after last week’s decline. However, the rebound remains cautious as a stronger US dollar, elevated bond yields and uncertainty around the Federal Reserve’s interest rate outlook continue to influence market sentiment.

“Bitcoin’s ability to hold above $83,000 will be important in the near term, while a sustained move towards $86,500 could indicate renewed buying momentum. Investors will also be closely watching upcoming US inflation data for greater clarity on the direction of monetary policy,” said Avinash Shekhar, Co-founder and CEO, Pi42.

Ethereum is trading near $2,550, while XRP is hovering around $1.40 after facing selling pressure over the past week. XRP’s recovery from the $1.30 level indicates buying interest at lower prices, although a decisive move above $1.45 will be needed to strengthen its upward momentum. 

“The broader crypto market is likely to remain sensitive to macroeconomic developments, with sustained buying volumes and stability in Bitcoin’s price playing an important role in determining the next phase of market movement,” Shekhar added.

Avenue Supermarts share price fell over 4% after the D-Mart-parent missed its second quarter profit expectations. DMart stock price fell as much as 4.37% to a 52-week low of Rs 3,366 apiece on the BSE.

The net profit of Avenue Supermarts in Q2FY27 rose 7.6% YoY to Rs 804 crore, missing Bloomberg estimate of Rs 879 crore. 

Jefferies held that Dmart's margin miss was a shocker and has lowered its price target for the retail chain to Rs 4,000 from an earlier Rs 4,500. The brokerage has also trimmed its EPS estimates by 2-3%, expecting the stock to trade lower in reaction to the Q2 miss.

The Bank Nifty gave up early gains to trade 0.2% lower. Axis Bank, Federal Bank, SBI, PNB and ICICI Bank were the top losers on the Bank Nifty index.

M&M, BEL, Trent, Sun Pharmaceutical Industries and NTPC were the top gainers on Sensex, while Tech Mahindra, ITC, Axis Bank, Bharti Airtel and SBI were the top index losers.

Among sectors, gains were seen in Nifty Auto, Nifty Metals, Nifty Realty, Nifty Oil & Gas and Nifty Pharma indices, while Nifty FMCG and Nifty PSU Banks were under selling pressure.

Broader market supported the rally, with the Nifty Smallcap 100 index gaining over 1% and the Nifty Midcap 100 index rising over half a percent.

The Sensex opened 298.99 points, or 0.41%, higher at 72,771.32, while the Nifty 50 gained 298.99 points, or 0.41%, to open at 22,593.20. The Bank Nifty index opened at 55,350.15, up by 93.50 points, or 0.17%.

The Indian rupee appreciated 97 paise to open at 95.76 against the US dollar as against its previous close of 96.73.

The external headwinds and sustained FII selling have made India one of the worst performing markets this year with a -13.87 YTD return. The sharp correction has made valuations fair and, in many segments, attractive. This, along with the impressive GDP growth estimate of 7.1% for FY27 and improving corporate profitability, provides strong fundamental support to the market. Therefore, investors can accumulate fairly-valued growth stocks ignoring the uncertainty and volatility in the market. For investors with a medium-to-long-term investment horizon, this market provides value buying opportunities. Patience is the key, said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

If crude declines sharply following favourable developments in the Middle East, the market can rally significantly from the current levels, he added.

Four initial public offerings will open for subscription in the week beginning October 12, including two mainboard issues with a combined size of Rs 1,414 crore. HD Fire Protect's Rs 712-crore offering opens on October 13, while Fusion CX's Rs 702-crore issue begins on October 14.

On the SME platform, Vaibhav Vyapaar and Ravita Engineering Services will open their IPOs on October 13, with both closing on October 15, 2026. Here is a list of IPOs that will go up for subscription.
 

The Strait of Hormuz remains on edge as fresh attacks on ships deepen the deadlock over efforts to ease the US-Iran conflict.

At least five incidents involving attacks on ships have been reported over the past three days, raising fresh concerns over maritime security along a critical global energy route.

According to the UK Maritime Trade Operations (UKMTO), a tanker transiting outbound was struck on its port side by an unidentified projectile, as reported by the vessel's Company Security Officer (CSO). A day earlier, UKMTO received a report of an incident involving a tanker and military forces in the Gulf of Oman.
 

Jefferies On Avenue Supermarts After Q2 Results:

• Maintain Hold; Cut TP to Rs 4,000 from Rs 4,500
• Margin Shocker
• Strong traffic, higher inflation & one of the best LFL prints in recent quarters
• This highlighted healthy demand during Q2, but profitability disappointed
• Higher food mix, weaker GM, wage inflation & inventory build weighed on earnings & operating cash flow
• Store expansion remained modest, but productivity softened, as evidenced by a multi-quarter low unit EBITDA for Q2
• Cut EPS by 2-3%
• Believe the stock is likely to trade down in reaction to Q2 miss
   

Crude oil prices declined on hopes that more Russian supplies following a US-Russia diesel deal. Brent crude futures dropped 2.09% to $102.53 a barrel, while US West Texas Intermediate crude was at $89.81 a barrel, down 2.22%.

US President Donald Trump said that Russia and Ukraine had agreed to an “energy ceasefire” effective immediately. Meanwhile, after an agreement between Russian President Vladimir Putin and Donald Trump, Russia partially lifted its ban on diesel exports, allowing 500,000 metric tons of fuel to reach international markets.

US stock market ended higher on Friday, with all three major US stock indexes gaining for the day and logging weekly gains.

The Dow Jones Industrial Average rallied 423.31 points, or 0.83%, to 51,654.95, while the S&P 500 gained 46.15 points, or 0.59%, to 7,811.51. The Nasdaq Composite closed 172.83 points, or 0.64%, higher at 27,366.17.

Asian stock markets traded mixed on Monday. South Korea’s Kospi declined 1.86%, while the Kosdaq slipped 3.87%. Hong Kong’s Hang Seng index futures indicated a higher opening. Japan markets are closed for a holiday.

The trends on Gift Nifty signal a flat start for the Indian benchmark indices, Nifty 50 and Sensex, today. The Gift Nifty was trading around 22,620 level, a premium of nearly 8 points from the Nifty futures’ previous close.

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a cautious note Monday, following mixed cues from global markets.