SENSEX tanks over 1,100 pts, NIFTY trades below 22,200; Senco Gold, TCS, Fino Payments Bank among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, were trading in the deep red during the afternoon session on Thursday, October 8, weighed down by a sell-off in metal, tourism, defence and realty stocks.

Additionally, investor sentiment was impacted by weak global cues, persistent FII outflow, a surge in global crude oil prices, and the RBI’s recent repo rate hike.

The SENSEX crashed as much as 1.8% to hit an intraday low of 71,327.75. Meanwhile, the NIFTY50 tanked as much as 1.9% to touch a 52-week low of 22,179.90.

At 3:19 PM, the S&P BSE SENSEX tumbled by 1,177.09 points, or 1.62%, to stand at 71,461.62, while NSE’s NIFTY50 was trading at 22,216, marking a 387.05-point, or 1.71% decline.

On Wednesday, the foreign institutional investors (FIIs) sold shares worth ₹6,121.37 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹4,596.57 crore on a net basis, according to exchange data.

The top losers in the NIFTY50 index included Adani Enterprises Ltd (AEL), JSW Steel, ITC, Adani Ports and Special Economic Zone, and Max Healthcare Institute.

On the flip side, Tata Consultancy Services, Infosys, Tech Mahindra, HCL Technologies, and Titan Company were among the top gainers.

Buzzing stocks on October 8: Check list

TCS is kicking off the September-quarter earnings season for India’s major IT companies, with investors closely watching deal wins, AI-led revenue growth, margins, and management commentary on the demand environment and the outlook for the second half of FY27.

While TCS has been expanding its AI capabilities and building a sizeable AI services business, investors are looking for clearer evidence that AI-led demand is translating into incremental revenue growth and offsetting weakness in traditional IT spending.

The stock of Tata declined as much as 2.03% to touch the session’s low of ₹172.07 per equity share, as equity market investors analysed the fine print of the steelmaker’s second-quarter business and production update, while concerns remain about global volumes.

As per the NSE filing, Tata Steel India’s overall crude steel production witnessed a 10.1% growth to 6.21 million tonnes in the September quarter of FY27, in comparison to 5.64 million tonnes in the same period a year ago.

The company’s delivery volumes also jumped 7.5% on a year-on-year (YoY) basis to 5.97 million tonnes, from 5.55 million tonnes in the same period a year earlier.

India’s largest private sector lender, HDFC Bank, shares fell as much as 1.7% to hit an intraday low of ₹690.50 apiece on October 8, after foreign institutional investors reduced their stakeholding by 2.43% in the July to September quarter of FY27.

The exchange data showed that foreign investors reduced their overall stake in HDFC Bank by 243 basis points to a 39.40% stakeholding in the July to September quarter of FY27, from earlier 41.83% levels back at the end of the April to June quarter of the current fiscal year.

Vedanta stock declined as much as 2.8% to touch the session’s low of ₹254.05 per equity share, despite its board of directors approving the first interim dividend for FY27.

The board cleared an interim dividend of ₹5 per equity share on a face value of ₹1 per equity share for FY27, amounting to nearly ₹1,955 crore.

The company had also set a record date for the dividend payout on October 14, 2026.

Shares of Infoedge Ltd (Naukri) jumped 2% in the opening session before falling in the red zone on Thursday after the company announced robust business updates for the quarter and six months ended September 2026.

The company declared its Q2 and six-month business update through an exchange filing on Thursday morning. The company delivered all-round robust billings growth for the quarter and six months ending September 2026 across all verticals except for Shiksha.

The recruitment solutions company, which operates under the brand of Naukri, posted 12.6% YoY to ₹613 crore for the quarter ending September 2026 as compared to ₹545 crore in the same quarter last year. On the six-month basis, the vertical posted even stronger growth of 14.9% YoY to ₹1166 crore as against ₹1015 crore in the same period last year.

The stock of Fino Payments Bank rallied as much as 16.8% to hit an intraday high of ₹150.40 per unit, as the Bank posted its business updates for the July-September quarter of FY27, reporting a 13% YoY surge in its average total deposits to ₹2,794 crore during the quarter.

In the second quarter of the 2025-26 fiscal year (Q2 FY26), the Bank had clocked average total deposits of ₹2,480 crore, according to a regulatory filing.

It saw its renewable income rise 20% YoY to ₹28 crore in Q2 FY27, as against ₹23.3 crore in the same period last year.

Senco Gold share price gained as much as 12% to touch an intraday high of ₹358.8 apiece, after the jewellery firm said its revenue growth for the quarter ended September 30, 2026 grew 29% YoY at the retail level.

The Kolkata-headquartered firm noted that the revenue growth was supported by 19% growth from existing stores (SSSG growth). “We also achieved the highest-ever topline of ₹5,000 Cr+ in H1 and a coveted landmark of ₹10,000 crore sales on a TTM basis,” Senco Gold said.

During Q2, the firm said consumer demand remained buoyant, supported by the structural strength of jewellery consumption, festive demand and increasing preference for lightweight jewellery. Senco Gold further said that its business continues to demonstrate strong resilience despite gold price volatility between ₹1,40,000 and ₹1,50,000 per 10 grams, in line with Q1 existing prices.

The stock was in the spotlight amid the latest media reports that traders and industry associations have allegedly sought a deferment of the MDR rollout from October 15 this year to January 2027. The requests have reportedly been made to both the Finance Ministry and NPCI; however, no official sources have confirmed the development.

Meanwhile, market participants were also focused on a latest report by Goldman Sachs on the stock's outlook, which highlighted several potential tailwinds for the payments platform.

Shares of GM Breweries fell on the NSE, despite reporting a 12.61% year-on-year (YoY) surge in its consolidated net profit to ₹39.29 crore IN Q2 FY27.

In the corresponding period of the preceding fiscal year, the company had clocked a profit of ₹34.89 crore, according to a regulatory filing.

ITC Ltd shares declined as much as 4.5% to hit an intraday low of ₹253.80 October 8, amid reports of a large block deal worth over ₹9,000 crore in the stock.

According to news reports, a block deal worth around ₹9,400 crore took place in ITC. GQG is likely to have been the seller, while a banker indicated that it was a “clean-out trade”, suggesting that the overhang from the stake sale has been cleared.

A foreign long-only fund reportedly bought around one-third of the block, while the remaining shares were picked up by mutual funds, including Nippon India, ICICI Prudential, SBI, Kotak and Aditya Birla Capital, according to news reports.

Shares of Nityas Gems and Jewellery Ltd debuted at ₹80 apiece on the NSE on Thursday, October 8. This reflects a premium of 6.67% over the IPO issue price of ₹75 per share. On the BSE, the stock started trading at ₹82 per share, up 9.33% from the issue price.

A lot consists of 200 shares and costs ₹15,000. Investors who received the Nityas Gems and Jewellery IPO allotment made ₹1,000 per lot, taking the value of their investment to ₹16,000, as per the listing price on the NSE.

The initial public offering was subscribed 2.25 times, as it got bids for 3,25,84,000 shares versus 1,44,56,000 shares on offer, according to the data available on the BSE website.

Shares of Vishal Nirmiti, a civil engineering, manufacturing and construction company, started trading at ₹215 per unit on the NSE and the BSE on Thursday, October 8. This reflects a discount of 2.27% from the IPO issue price of ₹220.

A lot consists of 68 shares and costs ₹14,960. Investors who received the Vishal Nirmiti IPO allotment lost ₹340 per lot, taking the value of their investment to ₹14,620, as per the listing price on the NSE.

The initial share sale was booked 1.71 times, as it got bids for 1,44,46,804 shares versus 84,71,153 shares on offer, as per the BSE data.