Equity benchmarks recovered partially from Thursday’s midday open, but remained in the red for the third consecutive session, weighed down by rising crude oil prices, geopolitical uncertainty and sector-wide selling.
The BSE Sensex was trading at 73,485.75, down 223.94 points or 0.30 per cent, at 12.56 pm, against the previous close of 73,709.69. The NSE Nifty 50 was at 22,720.05, down 91.30 points or 0.40 percent, from Wednesday’s closing level of 22,811.35.
Market breadth on BSE remains very negative. Of the 4,392 stocks traded, 2,661 declined and only 1,507 advanced, while 224 remained unchanged.
A total of 432 stocks hit new 52-week lows against just 53 at 52-week highs, underscoring the depth of the sell-off. A total of 277 shares were locked in the lower circuit against 107 in the upper circuit.
Five stocks in the Nifty 50 could deliver results in the afternoon. Bajaj Finance was the top performer, rising 1.47 percent to ₹939.60 from its previous close of ₹926.00, followed by Bajaj Auto, which gained 1.26 percent to ₹10,199 from ₹10,072. Larsen & Toubro rose 1.16 percent to ₹3,678.10 from ₹3,636, Bharti Airtel rose 1.05 percent to ₹1,911.50 from ₹1,891.70, and UltraTech Cement added 0.98 percent to ₹510.98 from ₹1,515.
On the losing side, Nestle India was the biggest laggard, down 2.19 percent to ₹1,197.10 from ₹1,223.90. Tech Mahindra fell 1.86 percent to ₹1,800.60 from ₹1,834.70, HDFC Bank declined 1.85 percent to ₹693.85 from ₹706.95, Coal India shed 1.78 percent to ₹7FC ₹4.00, and HDFC Life shed 1.78 percent to ₹5.25 from ₹530.75. ₹539.65. Reliance Industries, HDFC Bank and Infosys are the top three negative contributors to the index-weighted Nifty.
“Broad-based selling pressure, with declines in key sectors and broader market indices, reflects continued risk aversion and weakening investor sentiment,” said Ponmudi R, CEO of Enrich Money. “The combination of persistently high crude oil prices and broad-based selling pressure will keep investor sentiment buoyant.”
All major sectoral indices were in the red during the day, with the Nifty FMCG and IT emerging as the worst performers. IT stocks came under selling pressure after outperforming on Wednesday, reversing much of the previous session’s 2.88 percent gain. Banking stocks, especially HDFC Bank, faced fresh pressure, consistent with more cautious sentiment.
On the commodities front, MCX crude was trading at ₹ 9,340, up 1.43 percent, boosted by reports of Houthi attacks on Saudi Aramco oil fields and the US ordering diplomats to leave Saudi Arabia. WTI crude was near $98.50, up 0.80 percent, while Brent remained above $110 a barrel.
Precious metals face headwinds from high yields. COMEX gold fell 0.90 percent to around $4,110, testing key support at $4,100. COMEX silver fell 2.09 percent to $56.50, gold underperformed as the gold-silver ratio rose to 71.92. Domestically, MCX gold was at ₹144,600, down 1.01 percent, while MCX silver was down 1.91 percent at ₹205,160, with RSI near 29 in oversold territory.
The Indian rupee extended its eight-session winning streak, with USD/INR falling to 94.34, supported by dollar inflows from the Jio Platforms IPO and RBI intervention curbing dollar demand.
On the options front, SBI Securities recorded significant call writing at the 22,700 and 22,800 strikes, while the 22,600 put brought a lot of open interest, followed by the 22,500 strike. The broker has identified 22,520–22,500 as an important support zone and 22,750–22,770 as immediate resistance for the Nifty. For the Sensex, support is placed at 72,900 and resistance at 73,700.
“Unless the index recovers and maintains above the 22,700-22,800 range, general selling pressure will remain, keeping the short-term technical outlook cautious,” added Ponmudi. The quarterly results of Adani Enterprises, Colgate, Havells, HPCL and Swiggy, due later in the day, could provide a selective trigger for individual stocks.
More Like This
Published on October 22, 2026