Tuesday, 27 October 2026. The Nifty 50 ended the monthly expiry 3.45 points lower at 22,749.75: a 6.78% jump in Tata Consumer Products after its results, and gains in Bharti Airtel and the carmakers, were cancelled out by what Upstox described as selling in cement and banking stocks. Away from the index heavyweights the picture was very different: the Nifty Smallcap 100 rose 2.69%, and on the NSE more than two shares rose for every one that fell.
| Index | Close | Change |
|---|---|---|
| Nifty 50 | 22,749.75 | −3.45 pts (−0.02%) |
| Sensex | 73,598.67 | −8.08 pts (−0.01%) |
| Bank Nifty | 53,974.90 | −391.80 pts (−0.72%) |
| Nifty Midcap 100 | 57,029.90 | +564.50 pts (+1.00%) |
| Nifty Smallcap 100 | 18,468.70 | +483.70 pts (+2.69%) |
| India VIX | 16.40 | −0.76 (−4.43%) |
The broad market did what the Nifty didn't
On a day the Nifty moved by 0.015%, the Smallcap 100 added 483.70 points and the Midcap 100 564.50. HDFC Sky counted 2,807 NSE shares higher, 1,334 lower and 179 unchanged. Monday had pointed the same way, with smaller companies ahead of the index (the 26 October report has the figures), but today the gap was much wider because the Nifty itself went nowhere.
The sector indices show where that money went. Media gained 3.66%, Realty 1.94%, Pharma 1.91% and Auto 1.48%. Only two of the ten in the table below closed lower: IT and Financial Services.
| Nifty index | Close | Change |
|---|---|---|
| Media | 1,615.05 | +3.66% |
| Realty | 805.05 | +1.94% |
| Pharma | 26,267.25 | +1.91% |
| Auto | 25,340.80 | +1.48% |
| FMCG | 43,118.20 | +0.74% |
| Energy | 35,261.85 | +0.68% |
| Metal | 11,806.70 | +0.64% |
| PSU Bank | 8,126.70 | +0.41% |
| IT | 32,189.45 | −0.26% |
| Financial Services | 24,303.75 | −0.62% |
India VIX fell 4.43% to 16.40 after trading between 16.25 and 17.49 (what the VIX measures).
Tata Consumer's first session on its September quarter
Tata Consumer Products released its results on Monday, 26 October. The company's own release gave group net profit up 16% at ₹470 crore, revenue from operations up 14% at ₹5,661 crore and consolidated EBITDA up 18% at ₹794 crore. The India branded business reported 11% underlying volume growth, led by salt, where revenue rose 15%. Tata Sampann's revenue grew 57% and ready-to-drink 47%, and the company's "growth businesses" grew 40% to make up 38% of the India business. The international business grew 7%, though in constant currency it shrank 2%. Upstox, which gave profit as ₹469 crore against ₹404 crore a year earlier, attributed the improvement to domestic volumes, better margins, price increases and control of input costs.
The shares opened at ₹969, 3.47% above Monday's ₹936.50, dipped to ₹957.45 and then closed at ₹1,000, their high for the day and 6.78% up, on 75,76,093 shares traded, Angel One reported. On Monday, the day of the release, it had fallen 2.84%.
| Rose most in the Nifty 50 | Close | Change |
|---|---|---|
| Tata Consumer Products | ₹1,000.00 | +6.78% |
| Bharti Airtel | ₹1,978.80 | +3.20% |
| Bajaj Auto | ₹10,390.00 | +3.17% |
| BSE | ₹3,441.10 | +2.44% |
| Trent | ₹2,820.60 | +2.42% |
| Maruti Suzuki | ₹11,450.00 | +2.05% |
Bharti Airtel and Bajaj Auto both closed at their highs for the day; Bajaj Auto never traded below its ₹10,075 open. I found no report giving a reason for either move. The carmakers were broadly higher, with Maruti Suzuki up 2.05% and Eicher Motors 0.92%; Upstox listed Maruti and Bajaj Auto among the companies due to report later this week.
Four large banks fell more than 1% each
The weight in the other direction came from lenders. SBI lost 1.63% to ₹945.10, Axis Bank 1.17% to ₹1,205.70, ICICI Bank 1.15% to ₹1,386.90 and HDFC Bank 1.14% to ₹680.20. Kotak Mahindra Bank was the exception, up 0.40%. Bank Nifty had been as high as 54,654.05, then slid 679.15 points from that high to close at 53,974.90, just 23.70 points off its low. Financial Services, the broader index, fell 0.62%. HDFC Sky linked the caution to the US Federal Reserve decision due this week and to oil; I found no bank-specific news behind the falls.
Asian Paints led the losers as cement fell
Asian Paints was the weakest Nifty 50 stock, down 1.94% to ₹2,277 after opening at ₹2,296.40. Grasim fell 1.67% to ₹2,900.80, and the Nifty Cement index lost 2.03%, Money9 Live reported, although UltraTech Cement slipped only 0.27%. Coal India dropped 1.73% to ₹398, its low of the day. In IT, TCS fell 1.50% to ₹2,496.90; Infosys gave up 0.26% after Monday's recovery.
| Fell most in the Nifty 50 | Close | Change |
|---|---|---|
| Asian Paints | ₹2,277.00 | −1.94% |
| Coal India | ₹398.00 | −1.73% |
| Grasim Industries | ₹2,900.80 | −1.67% |
| State Bank of India | ₹945.10 | −1.63% |
| TCS | ₹2,496.90 | −1.50% |
None of the reports I read gave a stock-specific reason for these five.
A 192.90-point range on expiry day
The Nifty opened at 22,708.80, 44.40 points under Monday's close, and first traded back above it in the 9:40 candle. It made its high of 22,829.75 in the 12:40 five-minute candle, 76.55 points above Monday's close, then drifted down through the early afternoon to 22,636.85 in the 14:15 candle, 116.35 points under Monday. The 14:35 candle alone added 59.70 points, from 22,680.80 to 22,740.50, and the index finished 112.90 points above its low. The Sensex moved between 73,179.41 and 73,762.98 and ended 8.08 points down. Where expiry-day highs and lows have tended to fall in the session is counted in a separate post.
Brent below $115, foreigners still selling
Trading Economics put the second day of easing in oil down to renewed diplomatic efforts to end the US-Iran war; its Brent quote this evening was $114.81, $1.00 (0.86%) lower. Nifty Energy rose 0.68%; Reliance Industries slipped 0.47% to ₹1,196.20.
Tuesday's provisional flow numbers had yet to appear: NSE's page timed out and 5paisa's table stopped at Monday. That day foreign institutions sold a net ₹1,462.50 crore in the cash market and domestic institutions bought ₹2,609.60 crore, NSE's provisional data showed (how to read FII and DII data). HDFC Sky put foreign portfolio outflows for October so far at about $4.75 billion.
Jio lists tomorrow, the Fed decides
- Wednesday, 28 October: Jio Platforms lists on the NSE and BSE. The US Federal Reserve announces its rate decision at the end of its two-day meeting (US time).
- Later this week: September-quarter results from companies including Larsen & Toubro, Maruti Suzuki, Bajaj Auto, Cipla and Tata Steel, as listed by Upstox.
- Tuesday, 10 November: next NSE trading holiday.
Three things go on my list for the morning: Tuesday's flow numbers once NSE posts them, where Brent ended up overnight, and the price Jio Platforms discovers in its listing pre-open. This morning's pre-market report has the overnight picture that went into today's session.
Sources
- Index, sector and stock prices, the intraday path and India VIX: Zerodha Kite market data (NSE and BSE)
- Gainers and losers, cement and banking sell-off, Tata Consumer profit and drivers: Upstox; closing prices and volumes: Angel One
- Tata Consumer Products results: company results release, 26 October 2026
- Breadth, Fed and oil caution, FPI October outflows: HDFC Sky market close
- Nifty Cement: Money9 Live
- Brent: Trading Economics
- FII and DII flows: NSE provisional data via 5paisa
- Week ahead (Jio listing, Fed, results): Upstox; holidays: NSE holiday list
This note summarises public news and data for information only. It is not investment advice or a recommendation to buy or sell any security, and I don't publish levels, targets or trade ideas. I am not registered with SEBI as an investment adviser or research analyst.