Nifty trade below 22,500 in early trade; breadth weak
At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 294.86 points or 0.37% to 72,362.13. The Nifty 50 index lost 114.75 points or 0.51% to 22,482.70.
In the broader market, the BSE 150 MidCap Index declined 0.82% and the BSE 250 SmallCap Index fell 0.89%.
The market breadth was weak. On the BSE, 1,044 shares rose and 1,967 shares fell. A total of 210 shares were unchanged.
FPIs sold shares worth Rs 25,976.20 crore in October through 7 October 2026. This follows net selling of Rs 45,536.89 crore in September 2026, while FPIs were net buyers of Rs 17,366 crore in August 2026.
Stocks in Spotlight:
Tata Steel shed 0.23%. The company?s India crude steel production rose 10% YoY and 8% QoQ to 6.21 million tonnes in Q2 FY27, driven by higher output at the Jamshedpur and Kalinganagar facilities. India deliveries increased 7% YoY and 15% QoQ to 5.97 million tonnes, supported by a richer product mix and stable demand across market segments despite the seasonal rains.
Jubilant Foodworks fell 3.01%. The company?s consolidated revenue from operations increased 11.9% YoY to Rs 2,608.7 crore in Q2 FY27. Domino?s India reported like-for-like (LFL) growth of 4.1% during the quarter.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.07% to 7.248 compared with the previous session close of 7.243.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.7200 compared with its close of 96.7550 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rose 0.24% to Rs 1,49,731.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.10% to 102.24.
The United States 10-year bond yield rose 0.53% to 5.306.
In the commodities market, Brent crude for the December 2026 settlement jumped $1.97 or 1.97% to $102.17 a barrel.
Global Markets:
Asian indices traded mixed on Thursday, tracking the previous session's weakness on Wall Street as elevated US Treasury yields continued to weigh on risk appetite.
Investors assessed minutes from the Federal Reserve's September meeting, which showed that all 19 policymakers supported the latest rate increase, while most participants considered another rate hike likely to be appropriate by the end of the year. The minutes also highlighted differing views among officials over the inflation outlook and the appropriate pace of further tightening.
US stocks ended lower on Wednesday as longer-dated Treasury yields remained elevated. The Dow Jones Industrial Average declined 0.66%, while the S&P 500 fell 0.22%. The Nasdaq Composite also declined 0.22%.
Crude oil prices gained amid renewed geopolitical concerns after reports that the Trump administration was considering military strike options against Iran before the US midterm elections. Brent crude futures rose 1.16% to $101.36 a barrel.
Investors will now turn their attention to the upcoming third-quarter earnings season. Corporate results, Treasury yields, oil prices and expectations for further Fed rate hikes are likely to remain key drivers for global equity markets.
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