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Apollo Hospitals Falls 6%, Max Healthcare Down 3%, Kotak Mahindra Bank Rises 3%

On September 30, Apollo Hospitals Enterprise closed 5.70% lower, dragging the NIFTY50 down. Max Healthcare Institute fell 5.33%, BSE Ltd slid 3.38%, Nestle India dropped 2.65% and Sun Pharmaceutical Industries slipped 2.60%, making them the top losers on the day. The healthcare and pharmaceutical stocks’ decline contributed to the overall negative movement of the benchmark indices.

Kotak Mahindra Bank led the NIFTY50 gainers with a 2.71% rise, followed by InterGlobe Aviation (IndiGo) at 2.30%, ICICI Bank at 2.28%, UltraTech Cement at 1.17% and Shriram Finance at 1.15%. These gains helped offset some of the losses in the healthcare sector, though the index still closed lower overall.

The SENSEX slipped 48.78 points, a 0.07% decline, to finish at 72,480.29, while the NIFTY50 fell 95.75 points, 0.42%, ending at 22,620.45. Both indices closed in negative territory amid foreign institutional investor outflows, rising U.S. bond yields and a sell‑off in healthcare and pharma stocks.

Foreign institutional investors sold shares worth ₹9,980.22 crore on September 30, whereas domestic institutional investors purchased equities worth ₹6,952.71 crore on a net basis, according to exchange data. The net outflow from FIIs contributed to the downward pressure on the indices, contrasting with the net inflow from DIIs which was insufficient to offset the foreign sell‑off.

In the NIFTY Midcap 100, ICICI Lombard General Insurance Company led gains at 4.95%, followed by Prestige Estates Projects at 4.54%, IndusInd Bank at 2.67%, Lodha Developers at 2.57% and IDFC First Bank at 2.49%. Prestige Estates Projects shares surged after its hospitality unit raised ₹3,000 crore from the Canada Pension Plan Investment Board by diluting a 27% stake, with CPPIB acquiring approximately 27% of Prestige Hospitality Ventures Limited.