Sensex Slips 8 Points, Nifty Settles at 22,750 as IT Stocks Drag Indian Equities

Indian equity benchmarks traded in a narrow range on Tuesday, October 27, as gains in media, realty, pharmaceutical, and automobile sectors helped offset losses in IT and FMCG stocks. Investors also monitored crude oil prices, foreign fund flows, and upcoming central bank policy decisions.

Market Summary and Sectoral Performance

The BSE Sensex closed just under 73,600, slipping 8 points, while the NSE Nifty 50 settled at 22,750, registering a marginal dip of 3.5 points. Sectoral trends showed the Nifty Media index leading gains with a 3.66 per cent rise in midday trade, followed by realty up 1.70 per cent, pharma gaining 1.64 per cent, and auto advancing 1.40 per cent. Metal, energy, and PSU bank indices also posted gains.

Conversely, IT stocks emerged as the primary drag, with the Nifty IT index falling 1.07 per cent. FMCG shares declined 0.30 per cent, and financial services slipped 0.14 per cent, while the Nifty Bank index remained nearly flat.

Stock-Specific Movements and Corporate Earnings

Among individual equities, Tata Consumer Products rose 4.86 per cent, Bajaj Auto gained 2.46 per cent, and Trent advanced 2.43 per cent. On the losing side, Hindustan Unilever fell 2.14 per cent, and TCS dropped 1.69 per cent.

Corporate earnings drove significant stock-specific activity:

• One97 Communications (Paytm operator) reported a year-on-year rise in Q2 FY27 net profit to Rs 226 crore.
• Indian Overseas Bank posted a profit increase to Rs 1,912 crore.
• Tata Consumer Products recorded a net profit of Rs 470 crore.
• ITC Hotels reported a profit of Rs 203 crore.
• Sona Comstar posted a profit attributable to owners of Rs 223.40 crore and secured new business worth Rs 3,600 crore.

Additionally, HDFC Bank remained in focus as Anup Bagchi took charge as Managing Director and CEO on October 27 for a three-year term, succeeding Sashidhar Jagdishan.

Macroeconomic Factors and Institutional Flows

Global markets offered mixed support, with Wall Street closing higher and Asian indices trading positively. Investors remained focused on upcoming policy decisions from the US Federal Reserve, European Central Bank, and Bank of Japan.

In institutional activity, foreign institutional investors sold Indian equities worth Rs 1,462.49 crore, while domestic institutional investors bought shares worth Rs 2,609.57 crore. Brent crude stood at $109.84 per barrel, maintaining attention on import bills and inflation risks. Market participants can verify original market data through official exchange bulletins and company filings.