PB Fintech, Zydus Life, PC Jeweller among buzzing stocks as SENSEX tanks over 900 pts; NIFTY falls 1.3%

The Indian equity market remained volatile, as both the SENSEX and NIFTY50 indices were trading in deep red during the afternoon session on Monday, September 28, amid a sell-off in PSU banking stocks.

The SENSEX tanked as much as 1.4% to hit an intraday low of 72,832.08. Meanwhile, the NIFTY50 crashed as much as 1.44% to touch the session’s low of 22,807.55.

At 1:04 PM, the S&P BSE SENSEX tumbled 981.28 points, or 1.33%, to trade at 72,914.46, while NSE’s NIFTY50 stood at 22,821.40, reflecting a 319.10-point, or 1.38% fall.

On Friday, the foreign institutional investors (FIIs) sold stocks worth ₹3,693.93 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹2,838.17 crore on a net basis, according to exchange data.

Furthermore, the volatility gauge, India VIX, surged as much as 16.3% to an intraday high of 14.15 on Monday.

The top losers in the NIFTY50 index included Adani Enterprises, Adani Ports and Special Economic Zone, Tata Motors PV, Shriram Finance and Tata Consumer Products.

On the other hand, just three out of the 50 stocks constituting the NIFTY index advanced. The top gainers included Dr. Reddy's Laboratories, SBI Life Insurance Company and Infosys.

Buzzing stocks on September 28: Check list

Oil-sensitive stocks like Indian Oil, Hindustan Petroleum, Asian Paints, Bharat Petroleum, Apollo Tyres, among several others, declined during the trading session on Monday, September 28, as investors focused on the increase in global crude prices after the US President rejected the latest peace deal proposal for the West Asia conflict.

Due to the rising crude oil prices in the market, oil downstream companies like OMC stocks, aviation stocks, tyre stocks, and paint stocks, among others, witnessed selling pressure from investors.

Equity market investors reacted to the rebounding crude oil prices in the global market, with the benchmark Brent crude oil (November contract) surging to $107 per barrel (bbl), according to data collected from Oilprice.com.

Shares of consumer durable companies such as Voltas, Blue Star and Havells India, among others, were mixed on September 28, after leading appliance and consumer electronics makers announced another round of price hikes from October 1.

Shares of Zydus Lifesciences jumped as much as 2.05% to hit a 52-week high of ₹1,228.60 apiece on the National Stock Exchange (NSE) on Monday after the United States Food and Drug Administration (US FDA) concluded its inspection at the company’s US facility with zero observations.

According to a regulatory filing, the company said the US FDA conducted an on-site inspection of the company's pharmacovigilance and post-marketing surveillance system at its New Jersey office.

The filing added that the inspection, which was conducted from September 22 to September 25, 2026, concluded with no observations.

The stock of PB Fintech surged as much as 4% to ₹1,213.50 per equity share on the NSE after a bruising week that saw the shares plunge 36% in a single session and lose over a third of their value in just two trading days.

The sharp sell-off came after the Insurance Regulatory and Development Authority of India (IRDAI) proposed changes to the commission structure and expense limits for insurance distributors.

Shares of Marine Electricals (India) climbed as much as 5.11% to hit an intraday high of ₹434.90 per unit after bagging orders aggregating approximately ₹250.78 crore, excluding GST.

According to a regulatory filing, the firm was awarded three power distribution supply orders, including one from Digital Edge DC (India) Private Limited, a second from Socomec India Private Limited, and a third from STT Global Data Centres India Private Limited.

The stock of NSE, the country's largest stock exchange, dropped as much as 1.77% to hit an intraday low of ₹1,761, mirroring a weak trend in the Indian equity markets.

With today's fall, NSE shares traded below its initial public offering (IPO) price of ₹1,785.

NSE shares were facing selling pressure after the benchmark indices nosedived as surging bond yields in the United States and rising crude prices in global markets dented investor sentiment towards equities.

PC Jeweller shares advanced 3.75% to hit an intraday high of ₹14.64 apiece on Monday’s market, before falling into negative territory, as investors reacted to the company clearing its pending dues with 14 consortium banks.

“The company has successfully discharged the remaining outstanding debt of the banks and has achieved its financial objective of a Debt-Free status,” PC Jeweller informed the stock exchanges through an official filing.

PC Jeweller had a total outstanding debt of ₹3,000 crore, against which the jewellery maker decided to take a one-time settlement (OTS) for its outstanding dues with a consortium of banks back in September 2024.

With the successful repayment of the debt on Friday, the company was able to clear the pending debt ahead of scheduled due dates.

Sapphire Foods' stock dropped as much as 3.2% to touch an intraday low of ₹216.42 per equity share, as the company received a goods and services tax (GST) show-cause notice from the Deputy Commissioner, Karnataka.

In an exchange filing on Saturday, September 26, Sapphire Foods disclosed that the Karnataka authorities have issued a GST show-cause notice, demanding ₹19.99 crore for alleged incorrect availment and utilisation of input tax credit (ITC) and short payment of tax for the period April 2022 to March 2023.

“This is to inform you that the Company has received a show-cause notice from Deputy Commissioner, DGSTO-4, Bengaluru, Karnataka,” the company informed the stock exchanges.

In response to the notice, Sapphire Foods said that the company is evaluating the demand and will take the necessary steps to respond to the notice.

Aegis Logistics shares fell despite its board of directors approving a fundraise of up to ₹6,000 crore.

As per a regulatory filing, the company will raise the funds in one or more tranches, whether rupee-denominated or denominated in one or more foreign currencies, securities “such as equity shares and /or bonds including foreign currency convertible bonds/ American Depository Receipts/ Global Depository Receipts/ debentures/ non-convertible debt instruments along with warrants/ convertible debentures/ and/or any other equity-based instruments/ securities (“Securities”) through one or more public issue(s), preferential issue(s), private placement(s), qualified institutions placement(s) and/or any combination thereof or any other method”.