On Monday, September 28, the SENSEX fell 1,124.02 points or 1.52% to close at 72,771.72, while the NIFTY50 plunged 360.25 points or 1.56% to end at 22,780.25. The decline was driven by a surge in global crude oil prices, an increase in U.S. bond yields, foreign institutional investor (FII) outflows, and a sell‑off in banking stocks. The benchmark indices hit intraday lows of 72,716.23 for the SENSEX and 22,762.20 for the NIFTY50, reflecting heightened market volatility during the session.

Foreign institutional investors sold stocks worth ₹3,693.93 crore on September 28, while domestic institutional investors purchased equities worth ₹2,838.17 crore on a net basis, according to exchange data. The India VIX, a volatility gauge, surged as much as 16.3% to an intraday high of 14.15, underscoring investor nervousness. The combination of FII outflows, rising U.S. bond yields, and a spike in oil prices contributed to the sharp market downturn observed on the day.

The SENSEX tanked as much as 1.6% to hit an intraday low of 72,716.23, while the NIFTY50 crashed as much as 1.63% to touch the session’s low of 22,762.20. These intraday troughs were followed by a modest recovery before the indices closed at the levels reported earlier. The volatility and rapid swings highlighted the sensitivity of Indian equities to global macroeconomic developments and foreign capital flows.

In the NIFTY50, the top losers were Tata Motors Passenger Vehicle at -3%, Adani Enterprises Ltd at -2.93%, Jio Financial Services at -2.86%, Power Grid Corporation of India at -2.84%, and Larsen & Toubro at -2.83%. Only three stocks advanced: Dr. Reddy’s Laboratories gained 1.67%, Infosys rose 0.30%, and HDFC Life Insurance Company increased 0.11%. The limited number of gainers reflected the overall bearish sentiment across the index.

The NIFTY Midcap 100 fell 1.63% or 991.80 points to close at 59,914.20 on September 28. The decline was largely driven by selling in Yes Bank, which ended 5.87% lower, amid a broader drop in banking stocks. The 10‑year U.S. Treasury yield surged to its highest level in nearly 20 years at 5.2%, making U.S. bonds more attractive and prompting a flight of money from emerging‑market equities. Other laggards included Bank of India at -5.76%, Vodafone Idea at -5.54%, Indus Towers at -3.91%, and IDFC First Bank at -3.88%. Winners were Dixon Technologies at 1.87%, Voltas at 1.55%, IREDA at 1.41%, ICICI Prudential Asset Management Company at 1.27%, and Premier Energies at 1.07%. Dixon and Voltas advanced after announcing another round of price hikes from October 1, with air‑conditioner prices set to rise 5‑8% and other appliances expected to increase 3‑4%. This marks the third round of price hikes in 2026 ahead of the peak festive season.

The NIFTY Smallcap 100 declined 1.85% or 364.15 points to end at 19,351.10. Its top losers were Manappuram Finance at -6.29%, Physicswallah at -4.80%, IFCI Ltd at -4.46%, City Union Bank at -4.24%, and Urban Company at -4.15%. On the upside, Mangalore Refinery and Petrochemicals gained 3.31%, Great Eastern Shipping Company 2.46%, Brainbees Solutions 2.36%, Sarda Energy & Minerals 1.59%, and Anand Rathi Wealth 1.23%. The small‑cap index’s performance mirrored the broader market trend, with significant outflows from risk‑seeking sectors and a cautious stance from investors amid global economic uncertainty.