Banks & Metals Nudge Indices Up After A Week-Long Slide; PSB Index Leads Gains

Mumbai | September 30, 2025, 13:00 IST — Filed via NSE/BSE market data

Indian equities staged a mild rebound on Tuesday, snapping a week-long losing streak, as banks and metal counters led the upmove. The Public Sector Bank (PSB) index was the day’s outperformer, reflecting buying interest in state-owned lenders after recent pressure.

Indices in Green

The Nifty 50 was up 0.42% at 25,145.80, while the Sensex added 0.38% to 81,820.25 by mid-session. Gains came after five consecutive sessions of decline, during which the benchmarks had shed nearly 2%.

Broader markets were mixed: the Nifty Midcap 100 gained 0.6%, while small-caps were flat, indicating selective buying.

Banks & PSBs in Focus

The Nifty PSU Bank index surged over 2.5%, outperforming sectoral peers. Heavyweights such as State Bank of India (SBI), Bank of Baroda, and Canara Bank saw gains between 2–4%, buoyed by steady credit growth commentary and bargain-hunting after last week’s sell-off.

Private banks also contributed, with ICICI Bank and Axis Bank edging higher. However, HDFC Bank traded range-bound, capping gains for the Bank Nifty.

Metals Shine After Weakness

The Nifty Metal index gained nearly 1.8%, supported by stronger global commodity cues and optimism around infrastructure demand. Tata Steel, JSW Steel, and Hindalco were among the top gainers, reversing part of the losses seen in the previous week.

Analysts noted that global metal prices, particularly steel and aluminium, showed signs of stabilisation after weeks of volatility, providing relief to Indian producers.

Other Sector Moves

IT stocks traded mixed as investors awaited cues from upcoming quarterly earnings. Infosys and TCS were marginally up, while Wipro slipped.
FMCG counters remained muted amid reports of subdued rural demand, limiting broader index upside.
Energy and OMCs saw mild profit-booking after last week’s resilience.

Market View & Sentiment

Market participants suggested that today’s recovery was largely technical, with bargain-hunting in beaten-down sectors such as PSU banks and metals. However, traders cautioned that global cues remain mixed, with uncertainty around crude oil prices, US bond yields, and foreign fund flows.

Foreign Institutional Investors (FIIs) had been net sellers in recent sessions, pressuring indices. Clarity on September-end fund flows will be critical in determining near-term momentum.