{
  "id": 12099460,
  "title": "Gap-Up fades as IT and HDFC Bank drag Nifty to near-flat; crude, Rupee weigh",
  "url": "https://urgent.news/2026/10/05/gap-up-fades-as-it-and-hdfc-bank-drag-nifty-to-near-flat-crude-rupee",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T07:05:32.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/gap-up-fades-as-it-and-hdfc-bank-drag-nifty-to-near-flat-crude-rupee-weigh/article71546207.ece"
  },
  "original_language": "en",
  "account": "By mid-session on October 5, 2026, the benchmark indices saw their early gains vanish as IT giants and HDFC Bank dragged the Nifty to near-flat territory. The Nifty 50 closed at 22,451.60, up only 29.65 points or 0.13%, while the Sensex added 72.46 points or 0.10%. Despite Bank Nifty surging over 600 points early, it gave back most of those gains throughout the day. Sectoral indices were mixed, with Nifty Consumer Durables leading gains but Nifty Pharma posting the biggest loss. Market breadth turned negative, with 2,365 stocks slipping down compared to 1,889 advancing on the BSE, and 163 stocks hitting 52-week lows versus 127 at 52-week highs. A total of 246 stocks traded below upper circuits, surpassing those in upper circuits by 68. Among the top gainers, TMPV rose 3.40% to ₹288.90, and Bajaj Finance added 2.81% to ₹974.95. On the BSE, BSE Ltd gained 2.46% to ₹3,120.90, while Shriram Finance and ITC increased by 2.37% and 2.34%, respectively. Support came from PSU banks and broader financial stocks. Leading IT stocks, like HCL Technologies, fell 3.39% to ₹1,200.90, despite Accenture's strong results. Asian Paints slid 2.67% to ₹2,342.80. HDFC Bank, which gained early momentum after a solid second-quarter report, dropped 2.55% to ₹702.80. Infosys and HDFC Life also declined, by 2.26% and 1.42%, respectively. Technical analyst Sudeep Shah noted significant call writing on Nifty strikes 22,500 and 22,600, with substantial open interest on the put side at 22,400 and 22,300. The Nifty's advance-decline ratio was 30:20. Shah saw immediate support around 22,320-22,340 and resistance at 22,630-22,650 for the Nifty, while the Sensex had support at 71,600 and resistance at 72,500. Crude oil and the rupee added caution, with MCX Crude down 2.71% and WTI Crude dipping 1.40% to just under $90. Gold fell 0.67% to around ₹149,000, while Silver outperformed, up 0.39% to near ₹227,000. The Indian rupee traded near ₹96.20 per dollar, prompting concerns about its impact on domestic markets and the upcoming RBI policy decision on October 7, where a 25-basis-point rate hike is anticipated.",
  "summary": "Bank Nifty, which had surged over 600 points in early trade, surrendered nearly all its gains through the session",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Hindu BusinessLine",
        "title": "HDFC Bank shares rise nearly 2% after Bagchi appointment, Q2 business update",
        "url": "https://urgent.news/2026/10/05/hdfc-bank-shares-rise-nearly-2-after-bagchi-appointment-q2-business",
        "published": "2026-10-05T04:34:37.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Jyske Bank buys back shares worth 59.4 million kroner",
        "url": "https://urgent.news/2026/10/05/jyske-bank-buys-back-shares-worth-59-4-million-kroner",
        "published": "2026-10-05T06:46:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}