Indian stock market sees Sensex cross 73,000 amid banking and IT gains

The Indian stock market experienced volatility on September 30. After a slow start, the BSE Sensex climbed above 73,000, supported by gains in private banking and IT sectors, including ICICI Bank, Kotak Bank, TCS, and Tech Mahindra. However, the Nifty faced pressure, trading near 22,699.

Market analysts attributed recent volatility to high crude oil prices, rising US bond yields, and significant selling by Foreign Institutional Investors (FIIs), who sold approximately 24,054 crore rupees in the preceding four sessions. Despite this, midcap and smallcap indices showed resilience with positive movement.

In corporate news, several companies listed on the BSE and NSE, including Adroit Industries, which saw a significant listing gain of 75.37%. Varmora Granito also debuted with a 4.75% premium. Additionally, Tata Steel reported a reduction in tax liability by approximately 427 crore rupees following a favorable decision regarding interest deductions. Other notable corporate activities included Power Mech Projects securing a 549 crore rupee order and NLC India and NALCO deciding to form a joint venture for a thermal power plant.

Looking ahead, the NSE has scheduled 11 holidays for October 2026, including closures for Mahatma Gandhi Jayanti and Dussehra.