The SENSEX fell by as many as 708 points on Tuesday, September 29, while the NIFTY50 index touched an intraday low of 22,569. The decline was driven by losses in heavyweight names such as HDFC Bank, Axis Bank, Bajaj Finance, Kotak Mahindra Bank, ICICI Bank and Infosys. At 9:23 a.m., the SENSEX stood at 72,385, down 387 points, and the NIFTY50 was at 22,670, a drop of 110 points. Broad‑based selling pressure was evident as 13 of 15 major sector gauges compiled by the NSE were trading lower, led by the NIFTY Media index’s 1.95% fall.

Asian markets opened lower, echoing a weak close in the United States where the 10‑year Treasury yield surged by 11 basis points to 5.27%, its highest level in 19 years. Japan’s Nikkei fell 1.1%, China’s Shanghai Composite dropped 0.32%, Hong Kong’s Hang Seng slipped 0.64% and South Korea’s KOSPI fell 0.5%. In the United States, the Dow Jones Industrial Average declined 0.7%, the S&P 500 fell 0.77% and the tech‑heavy Nasdaq index tumbled 0.92% as rising bond yields and surging oil prices revived inflation fears and bets on further rate hikes by the Federal Reserve.

Sector‑level data showed that 13 of 15 major gauges compiled by the NSE were down, with the NIFTY Media index falling 1.95%. The NIFTY Bank, Financial Services, Auto, FMCG, IT, Metal, PSU Bank, Consumer Durables and Oil & Gas indices also declined between 0.6% and 1%. Defensive sectors such as pharma and healthcare attracted buying interest, contrasting the broader negative breadth where 2,218 shares fell against 782 advancing on the NSE.

Among individual stocks, NCC surged 5.37% to an intraday high of ₹137.30 after announcing a ₹1,077‑crore order from the Rural Water Supply and Sanitation Department of Visakhapatnam, Government of Andhra Pradesh, for a drinking water supply project under the Multi Village Scheme on Yeleru Reservoir in Anakapalli District. Tata Motors’ PV stock was the top loser in the NIFTY50, falling 2.8% to ₹274. Other names that declined between 1.15% and 2% included HDFC Life, Bajaj Finance, Jio Financial Services, HDFC Bank, Asian Paints, Wipro, Infosys, Kotak Mahindra Bank, JSW Steel and Trent. Gains were seen in Dr Reddy’s Labs, Cipla, Sun Pharma, Adani Ports and Eicher Motors.

The overall market breadth was extremely negative, with 2,218 shares declining against 782 advancing on the NSE. This broad sell‑off coincided with the NIFTY Midcap 100 index falling 0.76% and the NIFTY Smallcap 100 index tumbling 0.9%. The article concludes with a disclaimer that it is for informational purposes only and should not be construed as investment advice, urging readers to consult a financial advisor before making any investment decisions today.