Stock Market Today | Sensex, Nifty open lower today, bank stocks retreat from post-RBI policy highs
Nifty Bank emerged as the biggest loser among indices, dragging Nifty 50 down by as much as 0.25%. Elsewhere, the WeWork India IPO is now open for subscription.
India's stock market opened lower today, as bank stocks retreated, giving up some of the gains from RBI's status quo on repo rate and new lending norms.
At 10:10 am on Tuesday (3 October 2025), the Nifty 50 was down 0.15% while the BSE Sensex was trading 100 points lower.
Nine of the 16 major sectors logged losses at the open. Financials lost 0.4%, dragging the benchmark indexes. They had gained 1.4% after Reserve Bank of India's monetary policy decision. Consumer and auto stocks fell 0.3% and 0.5%, respectively. The broader small-caps and mid-caps gained 0.4% and 0.2%, respectively.
"The positive impact of RBI's initiatives to boost credit growth in the economy is unlikely to sustain in the context of the sustained foreign selling in the market," V.K. Vijayakumar, chief investment strategist at Geojit Investments, told Reuters. “Foreign portfolio investors are likely to accelerate selling since the market construct provides them an opportunity after the rally in the previous session.”
FPIs pulled $2.7 billion from Indian stocks in September, taking their year-to-date outflows to $17.6 billion, on course for record annual foreign withdrawals.
Stocks To Watch Today
Among individual stocks, PC Jeweller Ltd. rose 4% after reporting a 63% rise in standalone revenue and 23% reduction in bank debt in the second quarter, in its business update.
Axis Bank Ltd. bucked the broader pullback in financials, rising 2%, after Morgan Stanley reiterated “overweight” rating and hiked price target to ₹1,450 from ₹1,325, implying an upside of 25%. "We expect trends in net interest margins, growth and credit costs to turn positive over the next 12 months," Morgan Stanley analysts Sumeet Kariwala of Morgan Stanley said in a note.
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Meanwhile, the WeWork India IPO has opened for subscription. The Indian unit of the US-based shared office space provider is targeting a valuation of ₹8,685 crore, or a little less than a billion dollar, according to Reuters calculations.
