SENSEX, NIFTY50 snap three-day losing streak led by HDFC Bank, Axis Bank

The Indian equity benchmarks snapped their three-day losing streak on Thursday, September 10, led by gains in index heavyweights like HDFC Bank, Axis Bank, Bharti Airtel, Larsen & Toubro, Power Grid and Kotak Mahindra Bank.

For most part of the day benchmark indices traded in a narrow range as investor sentiment remained cautious tracking a surge in crude prices. The SENSEX traded in a band of 312 points and NIFTY50 index touched an intraday low of 23,380 and high of 23,495.

The SENSEX rose 138 points to close at 74,902.59 and NIFTY50 index advanced 46 points to close at 23,477.80.

Brent crude rose as much as 1.5% to an intraday high of $102.71 per barrel as tensions in West Asia escalated after US destroyed five Iranian tankers on Tuesday in a series of attacks between the two nations. The conflict that began in February has essentially shut down traffic in the Strait of Hormuz, where a fifth of the world’s oil supply passed before the war began.

Back home, eight of 15 sector gauges compiled by the National Stock Exchange (NSE) ended higher led by the NIFTY Financial Services index's 0.55% gain. NIFTY Bank, Media, PSU Bank and Private Bank indices also rose between 0.3% and 0.5%.

On the other hand, metal, pharma, healthcare, auto, IT and FMCG shares witnessed selling pressure.

Broader markets ended lower as NIFTY Midcap 100 index fell 0.4% and NIFTY Smallcap 100 index declined 0.1%.

Among the individual shares, Novartis India advanced for a ninth straight session. In nine trading sessions, Novartis India stock has surged as much as 74%, data from stock exchange showed.

Novartis India shares came under buying interest after the company presented its annual report for financial year 2025-26 in which it said that it plans to launch new products and in-license differentiated therapies in therapeutic “white spaces”.

The company added that it plans to take full commercial control of its key products such as Voveran, Methergin, Macalvit and Calcium Sandoz by bringing them under Novartis India's commercial control.

Novartis India said that its management plans to increase engagement with specialists and sharpen medical outreach, particularly around its established franchises.

Dilip Buildcon shares soared as much as 12% to touch an intraday high of ₹439.70 after the company bagged an order from the Petroleum and Natural Gas Regulatory Board (PNGRB).

The company said it has received a Letter of Intent (LoI) for authorisation to lay, build, operate or expand a petroleum and petroleum product (LPG) pipeline from Paradip, Odisha, to Raipur, Chhattisgarh. The project is worth ₹1,800 crore.

Redington shares surged as much as 6.7% to hit a 52-week high of ₹403.25 as the new edition of the ultra-premium iPhone 18 Pro and iPhone 18 Pro Max will be available in India from September 18 at a starting price of ₹1,64,900 and ₹1,79,900, respectively, the tech major said on Wednesday.

iPhone 18 Pro and iPhone 18 Pro Max are available in four colours - black, silver, glacier, and an all-new burgundy.

HDFC Life was top gainer in the NIFTY50 index, the stock rose 2.36% to close at ₹526. Power Grid, ONGC, Bharti Airtel, Tech Mahindra, SBI Life, HDFC Bank, State Bank of India, Shriram Finance and Larsen & Toubro also rose between 0.8% and 2.22%.

On the flip side, HCL Technologies, Hindalco, Tata Steel, Adani Enterprises, Mahindra & Mahindra, Tata Motors PV, Apollo Hospitals, IndiGo and ITC were top losers in the NIFTY50 index.

The overall market breadth was negative as 2,079 shares ended lower while 1,466 closed higher on the NSE.