Key Events This Week
28 Sep: Stock opens at Rs.265.10, down 1.45%
29 Sep: Minor decline to Rs.265.00 amid weak market sentiment
30 Sep: Further dip to Rs.263.75 as selling pressure continues
01 Oct: ITC hits 52-week low of Rs.256, closes at Rs.257.00 (-2.56%)
02 Oct: No trading data available, week closes at Rs.257.00
28 September 2026: Week Begins with Decline Amid Broad Market Weakness
ITC Ltd. opened the week at Rs.265.10, down 1.45% from the previous Friday’s close of Rs.269.00. This decline was in line with the broader market, as the Sensex fell 1.60% to 34,788.97. The stock’s volume stood at 520,296 shares, reflecting moderate investor activity. The initial drop set the tone for a week marked by persistent selling pressure and cautious sentiment.
29 September 2026: Marginal Decline Amid Continued Market Pressure
The stock price edged slightly lower to Rs.265.00, a marginal 0.04% decrease, as volumes increased to 566,367 shares. The Sensex also declined by 0.48% to 34,621.52, indicating ongoing market weakness. ITC’s performance remained subdued, with no significant positive catalysts emerging to arrest the downtrend.
30 September 2026: Further Erosion of Price as Selling Persists
ITC’s share price slipped to Rs.263.75, down 0.47% on the day, with volumes of 485,995 shares. The Sensex closed at 34,564.37, down 0.17%. The stock’s gradual decline reflected sustained investor caution ahead of the company’s quarterly results and amid a cautious macroeconomic backdrop.
1 October 2026: Stock Hits 52-Week Low on Earnings Disappointment and Sectoral Weakness
On 1 October, ITC Ltd. recorded a significant intraday low of Rs.255.95, marking a fresh 52-week low. The stock closed at Rs.257.00, down 2.56% for the day, with heavy volumes of 2,527,019 shares traded. This decline outpaced the Sensex’s 0.99% fall to 34,221.41 and the Cigarettes/Tobacco sector’s 2.36% drop, underscoring the stock’s relative weakness.
The sharp fall was triggered by the company’s quarterly financial results for June 2026, which revealed a 25.54% year-on-year decline in Profit Before Tax to Rs.4,799.26 crores and a 22.2% drop in Net Profit After Tax to Rs.4,081.88 crores. Net sales also contracted by 11.07% to Rs.19,114.37 crores. These disappointing figures heightened investor concerns and contributed to the intensified selling pressure.
Technically, ITC’s stock traded below all key moving averages (5-day, 20-day, 50-day, 100-day, and 200-day), signalling a bearish trend. Momentum indicators such as the KST and Bollinger Bands on weekly and monthly charts also pointed to negative momentum, while the MACD showed mixed signals with mild weekly bullishness but monthly bearishness. The Relative Strength Index (RSI) remained neutral, indicating no immediate reversal signals.
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2 October 2026: Week Ends Without Trading Data, Closing at Rs.257.00
No trading data was available for ITC Ltd. on 2 October, leaving the stock to close the week at Rs.257.00. This represented a 4.46% decline from the previous Friday’s close of Rs.269.00. The Sensex fell 3.20% over the week, indicating that ITC underperformed the benchmark index by 1.26 percentage points during this period.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-09-28 | Rs.265.10 | -1.45% | 34,788.97 | -1.60% |
| 2026-09-29 | Rs.265.00 | -0.04% | 34,621.52 | -0.48% |
| 2026-09-30 | Rs.263.75 | -0.47% | 34,564.37 | -0.17% |
| 2026-10-01 | Rs.257.00 | -2.56% | 34,221.41 | -0.99% |
Key Takeaways from the Week
Negative Price Momentum: ITC Ltd.’s stock declined 4.46% over the week, underperforming the Sensex’s 3.20% fall. The breach of a 52-week low at Rs.256 on 1 October highlights sustained selling pressure and bearish sentiment.
Earnings Impact: The sharp decline followed the company’s June quarter results showing a 25.54% drop in PBT and a 22.2% fall in PAT, alongside an 11.07% contraction in net sales. These figures have weighed heavily on investor confidence.
Technical Weakness: The stock remains below all major moving averages, with technical indicators signalling bearish momentum across multiple timeframes. This suggests continued downside risk in the near term.
Sector and Market Context: The Cigarettes/Tobacco sector also faced pressure, declining 2.36% on the day ITC hit its 52-week low. The broader market environment remains cautious, with the Sensex trading near its own 52-week lows and exhibiting a bearish technical setup.
Fundamental Strengths: Despite the weak price action, ITC maintains a strong long-term ROE of 28.29%, is net-debt free, and offers an attractive dividend yield of approximately 5.5%, which may provide some support to valuation.
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Conclusion: A Challenging Week Amid Earnings and Market Headwinds
ITC Ltd.’s stock faced a difficult week, marked by a 4.46% decline and a fresh 52-week low, driven primarily by disappointing quarterly earnings and a bearish technical outlook. The stock’s underperformance relative to the Sensex and its sector reflects broader market caution and sector-specific challenges. While fundamental strengths such as a high ROE, net-debt-free status, and attractive dividend yield remain intact, the prevailing price action and technical indicators suggest that the stock is navigating a period of significant headwinds. Investors will likely monitor upcoming earnings and sector developments closely to gauge any potential shifts in momentum.
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