Nifty slides 1%, Sensex sheds 691 points as crude tops $110 and Asia bleeds

SENSEX 73,085.95

 -623.74

NIFTY 22,561.00

 -250.35

CRUDEOIL 9,338.00

+ 130.00

GOLD 144,326.00

 -1,753.00

SILVER 204,227.00

 -4,941.00

SENSEX 73,085.95

 -623.74

NIFTY 22,561.00

 -250.35

NIFTY 22,561.00

 -250.35

CRUDEOIL 9,338.00

+ 130.00

CRUDEOIL 9,338.00

+ 130.00

GOLD 144,326.00

 -1,753.00

'; } document.getElementById("lgdv").innerHTML = htmlElements; } function numberformat(i) { return Number(parseFloat(i).toFixed(2)).toLocaleString('en', { minimumFractionDigits: 2 }) } async function gatherResponse(response) { const { headers } = response; const contentType = headers.get('content-type') || ''; if (contentType.includes('application/json')) { return await response.json() } return response.text(); } function getWidth() { if (Math.max(document.body.scrollWidth,document.documentElement.scrollWidth,document.body.offsetWidth,document.documentElement.offsetWidth,document.documentElement.clientWidth) > 991) { document.getElementById("mob").style.display = "none"; document.getElementById("lgdv").style.display = "block"; } else { document.getElementById("mob").style.display = "block"; document.getElementById("lgdv").style.display = "none"; } } getWidth(); THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.

Eternal was the top gainer, rising 1.90% to ₹318.30 from a previous close of ₹312.35, while Infosys edged up 0.09% to ₹1,169.05 from ₹1,168.00

By Anupama Ghosh

Updated - October 22, 2026 at 10:00 AM.

Equity benchmarks opened sharply lower on Thursday as surging crude oil prices and fresh geopolitical flashpoints in the West Asia weighed on sentiment.

The BSE Sensex, which closed at 73,709.69 on Wednesday, opened at 73,343.33 and was trading at 73,018.66, down 691.03 points or 0.94 per cent, at 9.35 am. The NSE Nifty 50, which closed at 22,811.35, opened at 22,687.75 and was last seen at 22,580.45, down 230.90 points or 1.01 per cent.

Top gainers and top losers at market open

Only two stocks on the Nifty 50 were in positive territory. Eternal was the top gainer, rising 1.90 per cent to ₹318.30 from a previous close of ₹312.35, while Infosys edged up 0.09 per cent to ₹1,169.05 from ₹1,168.00.

On the losing side, Coal India was the worst performer, down 2.82 per cent to ₹396.00 from ₹407.50, followed by Power Grid Corporation, which fell 2.58 per cent to ₹245.65 from ₹252.15, Nestle India, down 2.55 per cent to ₹1,192.70 from ₹1,223.90, BEL, off 2.40 per cent to ₹362.30 from ₹371.20, and Hindalco Industries, declining 2.37 per cent to ₹871.65 from ₹892.85.

The IT sector gained 2.88 per cent in the previous session, with Infosys and TCS among the leaders, and retains a positive bias from Wall Street’s tech-driven gains.

Chemical, Metal, Auto, Realty and Defense stocks remained under pressure. Broader markets continued to suffer: the Nifty Midcap 100 fell 1.60 per cent to a six-month low and the Nifty Smallcap 100 plunged 2.40 per cent to a four-month low on Wednesday.

Crude oil futures

Brent crude was trading at $110.69 a barrel, up 1.72 per cent, while WTI crude stood at $98.52, up 1.41 per cent.

On the Multi Commodity Exchange, November crude oil futures rose 1.47 per cent to ₹9,343 and December futures climbed 1.41 per cent to ₹9,195.

Houthi rebels attacked a Saudi Aramco oilfield overnight, and the United States ordered its diplomats to leave Saudi Arabia, intensifying supply-disruption fears.

Wall Street yields

Wall Street closed higher on Wednesday, with SpaceX’s 161 per cent year-on-year revenue growth sending its shares up 7 per cent and lifting technology stocks.

The US 10-year Treasury yield stood at 5.123 per cent. Asian markets were also in retreat: South Korea’s KOSPI fell 2.1 per cent, Hong Kong’s Hang Seng declined 2 per cent, and Japan’s Nikkei 225 slipped 0.7 per cent, falling below 64,000. GIFT Nifty was trading at 22,654, down 74 points ahead of the open.

The S&P 500 rose 0.58 per cent to 7,757, the Dow gained 0.69 per cent to 52,856, and the Nasdaq climbed 1.05 per cent to 26,702. Elon Musk confirmed SpaceX and Tesla have formed special committees to explore a potential merger. US stock futures were, however, in the red ahead of Thursday’s open.

Market overview

On Wednesday, FIIs were net buyers of equities worth ₹1,022 crore and DIIs made net purchases of ₹1,614 crore. The Indian rupee extended its winning run to eight consecutive sessions, gaining 47 paise to close at 94.46, a four-month high.

Robust demand for the Jio Platforms IPO on Day 1 also absorbed secondary market liquidity. Quarterly results from Adani Enterprises, Colgate, Havells, HPCL, Nam India, Sagility and Swiggy are due during the day and may drive stock-specific moves.

Analyst views

“Strong external headwinds in the form of elevated crude prices and high US bond yields are emboldening bears to build short positions,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Investments. “This is the reason why the market is declining even on days of positive institutional buying.”

“Unless both indicators—crude and bond yields—retreat meaningfully, opening declines may attract only tactical buying rather than signal a durable reversal,” said Hariselvan Radhakrishnan, Founder and CEO of HST Wealth.

“The broader market resilience in recent months has been more a function of liquidity than earnings,” Dr. Vijayakumar said. “This paradox of overvalued mid- and small-caps coexisting with attractively valued large-caps cannot continue for long.”

Published on October 22, 2026

Companies to follow

• Infosys Ltd
• Coal India Ltd
• Power Grid Corporation of India Ltd
• Nestle India Ltd
• Hindalco Industries Ltd
• Tata Consultancy Services Ltd

THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.Sign into Unlock benefits!

• Access 10 free stories per month
• Get notified by email for early preview to new features, discounts & offers