Nifty trades below 23,100 level; oil & gas share under pressure

The domestic equity benchmarks traded with major cuts in the mid-afternoon trade. The Nifty traded below the 23,100 level. Oil & gas shares declined after advancing in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex tanked 1,207.23 points or 1.61% to 73,622.39. The Nifty 50 index lost 385.90 points or 1.65% to 23,060.90.

In the broader market, the BSE 150 MidCap Index declined 1.97% and the BSE 250 SmallCap Index fell 1.39%.

The market breadth was weak. On the BSE, 1,263 shares rose and 3,010 shares fell. A total of 217 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index fell 1.40% to 10,850.75. The index rose 0.42% in the past trading session.

Aegis Vopak Terminals (down 4.82%), Hindustan Petroleum Corporation (down 2.44%), Aegis Logistics (down 2.11%), Reliance Industries (down 1.91%), Adani Total Gas (down 1.85%), Bharat Petroleum Corporation (down 1.68%), Indian Oil Corporation (down 1.59%), Mahanagar Gas (down 1.24%), Indraprastha Gas (down 1.13%) and Chennai Petroleum Corporation (down 0.96%) fell.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.94% to 7.114 compared with the previous session close of 7.048.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.9600 compared with its close of 95.7300 during the previous trading session.

MCX Gold futures for 5 October 2026 settlement shed 0.49% to Rs 1,50,551.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 101.13.

The United States 10-year bond yield rose 0.43% to 5.138.

In the commodities market, Brent crude for November 2026 settlement rose $2.53 or 2.45% to $ 105.61 a barrel.

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