On Monday, September 28, the Indian equity market remained volatile as both the SENSEX and NIFTY50 indices traded in deep red during the afternoon session, amid a sell‑off in PSU banking stocks. The SENSEX tanked as much as 1.4% to an intraday low of 72,832.08, while 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 72,914.46, and NSE’s NIFTY50 stood at 22,821.40, reflecting a 319.10‑point, or 1.38%, fall.

Foreign institutional investors (FIIs) sold stocks worth ₹3,693.93 crore on Friday, while domestic institutional investors (DIIs) purchased equities worth ₹2,838.17 crore on a net basis, according to exchange data. The volatility gauge, India VIX, surged as much as 16.3% to an intraday high of 14.15 on Monday, reflecting heightened uncertainty amid the market downturn. Top losers in the NIFTY50 included Adani Enterprises, Adani Ports and Special Economic Zone, Tata Motors PV, Shriram Finance and Tata Consumer Products, while only three of the 50 stocks advanced, with Dr. Reddy's Laboratories, SBI Life Insurance Company and Infosys among the top gainers.

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 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. The investment bank said the proposed framework could imply a 40% reduction in insurance take rates for PB Fintech, translating into a potential 36% cut in FY28E consolidated revenue, with Paisabazaar providing some cushioning to the impact. The shift in term plans towards a trial‑based structure could also defer cash flows, creating an initial working‑capital drag.

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 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 had a total outstanding debt of ₹3,000 crore, which it settled through a one‑time settlement with a consortium of banks in September 2024. Sapphire Foods’ stock dropped as much as 3.2% to touch an intraday low of ₹216.42 per equity share after receiving a goods and services tax (GST) show‑cause notice from the Deputy Commissioner, Karnataka. Aegis Logistics shares fell despite its board of directors approving a fundraise of up to ₹6,000 crore.