On October 21, the Indian stock market experienced a mixed session with key indices ending lower. The SENSEX closed at 73,709.69, down by 143.21 points or 0.19%, and the NIFTY50 index fell 77.60 points or 0.34% to finish at 22,811.35. This decline was influenced by selling pressure in certain sectors and foreign institutional investor outflows.
- Bajaj Finance shares dropped 3.27% due to margin pressure concerns.
- Infosys and HCL Technologies gained over 3%, leading the top gainers.
- Foreign institutional investors sold stocks worth ₹1,148.64 crore, while domestic investors bought ₹3,201.19 crore.
- The India VIX volatility index rose 9.5% to an intraday high of 16.17.
- Midcap and smallcap indices also saw significant declines.
Why did the SENSEX and NIFTY50 decline on October 21?
The decline in the SENSEX and NIFTY50 was mainly due to a sell-off in chemical and defence stocks, combined with foreign institutional investors (FIIs) withdrawing funds. FIIs sold stocks worth ₹1,148.64 crore, which added downward pressure on the market. Meanwhile, domestic institutional investors (DIIs) bought equities worth ₹3,201.19 crore, partially offsetting the impact.
Additionally, the India VIX, which measures market volatility, spiked by 9.5% to 16.17, indicating increased uncertainty among investors. This volatility contributed to cautious trading and selling pressure.
Which stocks were the top losers on October 21?
Bajaj Finance was the biggest loser among the NIFTY50 stocks, falling 3.27%. Analysts noted margin pressure in the July-September quarter and expected further compression in upcoming quarters. Despite this, Bajaj Finance reported a strong 29% year-on-year increase in consolidated net profit to ₹6,367 crore for Q2 FY27.
Other significant losers included BSE Ltd (-2.63%), Eternal (-2.45%), Eicher Motors (-2.43%), and Trent (-2.41%). In the midcap segment, SRF shares dropped 5.22% after a decline in EBITDA margin, hitting a 52-week low of ₹2,260 per unit. Meesho (-5%), United Spirits (-4.96%), Cochin Shipyard (-4.84%), and KEI Industries (-4.76%) also faced losses.
Smallcap stocks saw steep declines as well, with Himadri Speciality Chemical Ltd falling 10.87%, Gallantt Ispat down 8.38%, CreditAccess Grameen dropping 6.96%, TD Power Systems losing 6.38%, and Jyoti CNC Automation down 6.33%.
Which stocks gained on October 21?
Among the top gainers, Infosys led with a 3.30% rise, followed by HCL Technologies (3.21%), Tech Mahindra (3.13%), Tata Consultancy Services (TCS) (2.77%), and UltraTech Cement (1.87%). In the midcap category, MphasiS gained 3%, Persistent Systems rose 2.96%, NHPC Ltd increased 2.76%, Mankind Pharma went up 1.43%, and Coforge climbed 1.35%.
Smallcap gainers included Firstsource Solutions (2.97%), Anand Rathi Wealth (1.67%), Tata Elxsi (1.55%), KPIT Technologies (1.44%), and Nuvama Wealth Management (1.02%).
How did the midcap and smallcap indices perform?
The NIFTY Midcap 100 index fell 922.10 points or 1.58% to close at 57,565.85. The NIFTY Smallcap 100 index declined 448.45 points or 2.37%, ending at 18,487.30. These drops reflect broader selling pressure beyond the large-cap stocks, affecting mid and small-sized companies.
Overall, the market showed signs of volatility and cautious investor sentiment on October 21, influenced by sector-specific selling and foreign fund outflows. While some technology and cement stocks gained, pressure on finance and chemical sectors weighed on the indices.
