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Nifty Dips Despite Banking Gains: Hospital, Insurance Stocks Drag Market
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CNBC TV18•30-09-2026, 16:07
Nifty Dips Despite Banking Gains: Hospital, Insurance Stocks Drag Market
- •Nifty closed 96 points lower at 22,620, and Sensex slipped 49 points to 72,480, despite the Nifty Bank outperforming with a 373-point gain.
- •Hospital stocks, including Glenmark, declined up to 7% after the Supreme Court questioned steep mark-ups, also impacting pharma stocks.
- •Insurance stocks continued to fall, with SBI Life Insurance, Max Financial Services, and PB Fintech down as much as 3%, though ICICI Lombard surged 5% on FY29 guidance.
- •Banking stocks like ICICI Bank and Kotak Mahindra Bank gained around 2% each, supporting the market ahead of quarterly updates.
- •BSE fell 3% on its first day of Nifty inclusion, while Solar Industries rose nearly 6% and IT stocks ended largely in the green.
Key Questions Answered
Hospital stocks fell by up to 7% after the Supreme Court questioned steep mark-ups, which also created weakness that weighed on pharma stocks like Glenmark down 4%.
Banking stocks saw buying support ahead of quarterly updates, allowing the Nifty Bank to outperform by rising 373 points to end at 54,633.
BSE ended 3% lower on its first trading day following its inclusion in the Nifty index.
