IT stocks lead losses on NSE while metals rally in volatile Indian bourse

Mumbai – On September 9, the National Stock Exchange and Bombay Stock Exchange both closed lower for the third consecutive session. The key driver was a sharp rise in global oil prices, with Brent crude touching the $100 per barrel threshold amid escalating West Asian tensions.

The BSE Sensex dropped 813.35 points, or 1.08%, to 74,764.23. The NSE Nifty 50 fell 203.60 points, a 0.86% decline, ending at 23,431.50. The markets opened at 75,216.22 (Sensex) and 23,522.05 (Nifty), already reflecting the early‑day bearishness.

The IT index registered the steepest slide, slipping 3.24% and pulling the broader index down. Real estate (‑2.23%) and financial services (‑1.23%) also posted notable falls, while FMCG, private banks, media and pharma added to the downward drift. By contrast, the metal index climbed 1.79%, offering a rare bright spot.

Gainers for the session included Adani Enterprises, Max Healthcare, Adani Ports, Coal India, Tata Steel, Hindalco, Apollo Hospitals and NTPC, each posting gains in the 1‑5% range. The biggest laggards were Infosys, HDFC Life, HCL Technologies and Tech Mahindra.

Commentators said the ongoing Middle‑East hostilities are likely to keep crude oil prices high, feeding inflation risk and squeezing margins. They noted that central banks now face a tighterrope walk between curbing price rises and sustaining growth, while erratic bond yields and currency fluctuations will likely keep investors cautious.