Sensex,Nifty : The Indian stock market began Tuesday on a cautious note as both Sensex and Nifty slipped into the red, weighed down mainly by banking and financial stocks. After a strong rally in the previous session, sparked by the Reserve Bank of India’s status quo on repo rates and new lending guidelines, investors seem to be booking profits.
At around 10:10 am on October 3, 2025, the Nifty 50 was down by 0.15% while the BSE Sensex fell by 100 points. The Nifty Bank index emerged as the biggest drag, slipping nearly 0.25%, erasing part of its post RBI gains.
Sector Performance: Banks Pull Back, Small Caps Shine
Out of the 16 major sectoral indices, nine opened in negative territory. Financials led the slide, losing 0.4%, followed by consumer and auto stocks, which fell 0.3% and 0.5%, respectively. On the brighter side, broader markets outperformed, with small caps up 0.4% and mid caps higher by 0.2%, showing resilience amid the cautious mood.
According to V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments, the optimism following RBI’s credit growth initiatives may not last long. He cautioned that persistent foreign portfolio investor (FPI) outflows could weigh heavily on Indian equities. FPIs pulled out $2.7 billion in September alone, taking the year to date outflows to $17.6 billion a figure that could set a record for annual withdrawals.
Stocks in the Spotlight
Among key stocks, PC Jeweller Ltd. gained 4% after reporting a sharp 63% rise in standalone revenue along with a 23% reduction in bank debt in its Q2 business update.
Meanwhile, Axis Bank Ltd. defied the financial sector’s weakness, climbing 2% after Morgan Stanley reiterated its “overweight” rating and revised its price target to Rs1,450 from Rs1,325. The brokerage firm expects a positive shift in net interest margins, credit costs, and growth trends over the next year.
WeWork India IPO: A New Market Entry
Adding to market buzz, the WeWork India IPO opened for subscription today. The Indian arm of the US based co working space giant is aiming for a valuation of Rs8,685 crore (nearly $1 billion). The IPO is drawing significant investor interest as the flexible workspace sector continues to expand in post-pandemic India.
Market Outlook
While domestic factors like RBI’s policies and corporate earnings provide some cushion, sustained foreign selling remains a concern for Indian equities. Analysts suggest that volatility may persist in the short term, with investors keeping a close watch on global cues and upcoming quarterly results.
Disclaimer: This article is for informational purposes only and should not be taken as financial or investment advice. Readers are advised to consult with a certified financial advisor before making any investment decisions.
Also read
Oracle $938 Billion Surge Ignites Stock Market Records
Railway Stocks Back on Track: Rally Gains Steam but Clouds Remain Ahead
