Sensex sheds 574 points, Nifty below 22,400 ahead of inflation data

The key equity benchmarks traded near the day's lows in afternoon trade. Investor sentiment remained cautious ahead of the release of India's inflation data later in the day. Although crude oil prices retreated, they remained above $100 a barrel, keeping inflationary concerns in focus. The Nifty slipped below the 22,400 mark, while realty stocks remained in demand.

At 13:28 IST, the S&P BSE Sensex declined 574.22 points or 0.79% to 71,898.11 . The Nifty 50 index fell 147.50 points or 0.65% to 22,372.95.

In the broader market, the BSE 150 MidCap Index added 0.18 % and the BSE 250 SmallCap Index rose 1.06 %.

The market breadth was weak. On the BSE, 2,375 shares rose and 1,903 shares fell. A total of 312 shares were unchanged.

RBI Mesures:

The Reserve Bank of India (RBI) has announced a special facility to meet the entire daily US dollar requirements of three public sector oil marketing companies ? Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL). According to an RBI press release, the central bank will sell US dollars to the three companies through designated banks to meet their foreign exchange requirements. The facility will come into effect tomorrow and remain operational until further notice. The RBI said, the decision was taken following an assessment of prevailing market conditions and is aimed at facilitating the foreign exchange requirements of the three state-owned oil marketing companies.

The Reserve Bank of India (RBI) has raised the minimum daily Cash Reserve Ratio (CRR) maintenance requirement for scheduled banks to 99% from 90%, effective from the reporting fortnight beginning October 16, 2026. Under the existing framework, banks are required to maintain at least 90% of the prescribed CRR on a daily basis, provided their average daily balance over the reporting fortnight meets the CRR requirement stipulated by the RBI.

Buzzing Segment:

The Nifty Realty index rose 1.13% to 813.05, extending its gains after advancing 0.92% in the previous session.

Brigade Enterprises (up 4.15%) led the gainers, followed by Lodha Developers (up 2.58%), Phoenix Mills (up 1.54%), Anant Raj (up 1.19%) and Prestige Estates Projects (up 1.05%). Other gainers included Oberoi Realty (up 0.56%), Aditya Birla Real Estate (up 0.24%) and DLF (up 0.19%).

On the other hand, Sobha declined 1.12%, emerging as the sole loser among the stocks listed.

Stocks in Spotlight:

Tech Mahindra fell 3.34%, tracking weakness in global telecom stocks after SpaceX's expansion plans raised concerns over increased competition in the wireless communications market. The development triggered concerns that SpaceX could emerge as a stronger competitor to traditional wireless operators by combining satellite connectivity with terrestrial mobile network capabilities. Communications is Tech Mahindra's largest revenue-generating vertical, accounting for 32.3% of revenue in Q1 FY27.

Aeroflex Industries surged 10.49% after the company announced that its board of directors will meet on Wednesday, October 14, 2026, to consider expansion plans.

Rajesh Power Services rose 5.94% after the company secured turnkey contracts worth Rs 471.92 crore, inclusive of taxes, from Madhya Gujarat Vij Company Limited (MGVCL).

Bajel Projects (BPL) rose 1.52% after the company secured a major EPC order worth over Rs 200 crore for 220kV Gas Insulated Switchgear (GIS) substations at Salsette and Powai in Mumbai.

PTC Industries jumped 2.79% to Rs 25,230 after the company announced the successful completion of its qualified institutional placement (QIP), raising Rs 1,799 crore through the issue of equity shares to institutional investors. The QIP opened on October 6 and closed on October 9, 2026. The company's Listing and Fund-Raising Committee approved the allotment of shares at its meeting held on October 9.

The company allotted 8,54,700 equity shares to the eligible qualified institutional buyers at the issue price of Rs 21,060 per equity share including a premium of Rs 21,050 per equity share, aggregating to Rs 1,799 crore.

Following the allotment, PTC Industries' paid-up equity share capital increased to Rs 15.85 crore from Rs 14.99 crore, while the number of outstanding equity shares rose to 1.58 crore from 1.50 crore.

Global Cues:

US stock futures pointed to a positive opening on Monday, with Dow futures rising 166 points. However, investors remained cautious ahead of key US inflation data and the start of the September-quarter earnings season.

European equity market advanced on Monday as investors assessed easing crude oil prices, geopolitical developments and the start of the third-quarter earnings season. Sentiment was supported by a decline in oil prices following US President Donald Trump's announcement of an immediate ?energy ceasefire? between Russia and Ukraine. However, the proposal remained unconfirmed by Moscow, and Russian attacks on Ukrainian energy infrastructure reportedly continued over the weekend.

Brent crude futures fell nearly 2% to around $103 a barrel as Trump's announcement raised hopes of reduced disruptions to energy supplies. Russia also partially lifted its diesel export ban from 10 October, allowing 500,000 metric tonnes of diesel to be supplied to international markets. However, doubts remain over the country's ability to increase exports significantly, given reported damage to its refining infrastructure from Ukrainian strikes and concerns over domestic fuel supplies.

Meanwhile, Ukrainian attacks on Russian infrastructure reportedly included strikes on data centres operated by Yandex, disrupting internet access and some digital and banking services. The continued attacks underscored uncertainty over whether the proposed energy truce would translate into an actual halt in hostilities.

Asian equity markets traded mixed on Monday amid geopolitical uncertainty and caution ahead of key corporate earnings. Trading volumes were subdued, with Japan's markets closed for Sports Day and the US Treasury market observing the Columbus Day holiday. US stock exchanges remained open, although trading in Treasury securities was suspended for the holiday.

US stocks ended higher on Friday, with all three major indices advancing and recording weekly gains. The Dow Jones Industrial Average rose 423.31 points, or 0.83%, to 51,654.95. The S&P 500 gained 46.18 points, or 0.59%, to 7,811.54, while the Nasdaq Composite advanced 172.83 points, or 0.64%, to 27,366.17. For the week, the Dow gained 0.9%, the S&P 500 rose 1.2% and the Nasdaq advanced 0.6%.

Investors will also focus on the US September-quarter earnings season, which begins with major banks reporting from Tuesday. US consumer price index (CPI) data due on Wednesday will be another key trigger, with inflation readings likely to influence expectations for the Federal Reserve's interest-rate path.

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