On September 29, 2026, the Indian stock market experienced a significant downturn, with 227 securities on the National Stock Exchange (NSE) hitting their 52-week low. This broad sell-off was driven by rising crude oil prices and continued foreign institutional investor outflows, which weighed heavily on investor confidence.
- The BSE Sensex fell by 242.65 points (0.33%) to close at 72,529.07.
- The NSE Nifty 50 index declined by 64.05 points (0.28%) to end at 22,716.20.
- Foreign institutional investors sold equities worth ₹5,353.22 crore on September 28.
- High crude oil prices near $105 per barrel and US Treasury yields around 5.25% created a challenging environment.
- Key stocks hitting 52-week lows included Waaree Energies, Canara Bank, Britannia Industries, and others.
What caused the stock market decline on September 29, 2026?
The market downturn was mainly caused by elevated crude oil prices and ongoing foreign fund outflows. Brent crude oil prices hovered near $105 per barrel, increasing inflation concerns and putting pressure on the Indian rupee. Simultaneously, the US 10-year Treasury yield remained high at about 5.25%, making dollar-denominated assets more attractive compared to Indian equities.
These factors combined to create uncertainty among investors, especially with geopolitical tensions in West Asia adding to the risk environment. As a result, many investors sold off shares, leading to a broad market decline.
How did major stock indices perform during the sell-off?
The 30-share BSE Sensex dropped 242.65 points, or 0.33%, closing at 72,529.07. It had an intraday low of 72,064, falling as much as 0.97% during the session.
The 50-share NSE Nifty index declined by 64.05 points, or 0.28%, ending the day at 22,716.20. The Nifty tested the 22,600–22,580 support zone, which is near its 200-week simple moving average (SMA), before recovering slightly.
What does the technical outlook suggest for the Nifty index?
According to market analysts, the Nifty's test of the 22,600–22,580 region attracted some buying interest, which could support a short-term bounce. However, this does not indicate a full trend reversal.
For a stronger recovery, the Nifty would need to reclaim the 22,800 level and move above the 23,000–23,100 zone. Conversely, a decisive break below 22,580 could expose the index to further declines toward 22,400.
Additionally, the Bank Nifty index remains below its 100-week SMA near 55,175. Its inability to rise above this level may continue to limit broader market recovery.
Which stocks hit their 52-week lows during the sell-off?
A wide range of securities on the NSE reached fresh 52-week lows, reflecting the widespread nature of the sell-off. In total, 227 securities hit their lowest price levels in a year.
Some notable stocks included:
- Aditya Birla Fashion and Retail
- Canara Bank
- Voltas
- Waaree Energies
- Britannia Industries
- ACC
- Infosys
- ICRA
- IEX
- United Breweries
- Wipro
- Tata Motors Passenger Vehicles (TMPV)
What should investors keep in mind?
Market experts advise caution during such volatile periods. Elevated crude oil prices and high US Treasury yields can continue to pressure domestic equities. Investors should watch key technical levels and be mindful of global economic factors.
It is important to consult financial advisors before making investment decisions, as this information is for educational purposes and not investment advice.
