Today’s Market Closing, 28 Oct: Nifty and Sensex Ended Lower, Dragged by ICICI Bank, While Nifty Metal & PSU Bank Hit All-time High

On Tuesday, October 28, Indian equity benchmark indices ended marginally down, dragged by ICICI Bank and Mahindra & Mahindra. The indices were weighed down by losses in financials and IT stocks.

At the close, the Nifty 50 declined by 29.85 points, or 0.11%, to settle at 25,936.20, while the Sensex slipped 150.69 points, or 0.18%, ending at 84,628.16. Meanwhile, India’s volatility index, India VIX, remained steady, ending up by 0.8%. 

The 50-stock index has gained about 3.3% over the past nine sessions, rising in seven of them, and now sits roughly 1.3% below its record high from September 2024. 

On the sectoral front, 4 out of 11 sectors closed in positive territory. The Nifty Metal index jumped 1.23% to lead sectoral gains after US and Chinese officials finalised a trade framework for Presidents Donald Trump and Xi Jinping to consider later this week.

Meanwhile, broader markets mostly remained flat, with both Nifty Midcap and Smallcap ended on a mixed note.

Stock-Specific Highlights

Among individual stocks,

• Canara Robeco Asset Management share price fell 3.3% after reporting weaker quarterly profit
• Sai Silks (Kalamandir) share price jumped 2.28% on stronger September-quarter earnings.

Nifty PSU Bank - Top Gaining Sector

The Nifty Metal index climbed 1.23%, recording a new all-time high. Following metals, Nifty PSU Banks also gained 1.22% emerging as the 2nd gainer among sectoral indices. In contrast, the Nifty Realty index declined 1.05% snapping a 3-day winning streak, with Brigade Enterprises falling more than 2%.

Nifty 50: Top Pullers and Draggers of the Day

The key drivers of the index gains were:

• Larsen & Toubro: +14.8 points
• Tata Steel: +9.0 points
• Reliance Industries: +8.26 points

On the other hand, these stocks weighed on the index:

• ICICI Bank: -17.73 points
• Mahindra & Mahindra: -5.91 points
• ITC Ltd: -5.88 points

Broader Markets Ended Mixed

The broader market indices closed nearly flat. The Mid-cap 100 index declined by 0.02% and the Small-cap 100 ended up by 0.02%. 

Market Breadth

As of October 28, 2025, the market breadth was in favour of declining stocks. Out of 3,237 stocks traded on the NSE, 1,385 advanced, 1,730 declined, and 122 remained unchanged. 

A total of 77 stocks touched their 52-week highs, while 54 hit their 52-week lows. Additionally, 64 stocks were locked in their upper circuits, whereas 56 stocks were in lower circuits. 

Disclaimer: The article is for informational purposes only and not investment advice.