Sensex slides 252 points, Nifty slips below 22,650 as FII selling, oil prices weigh

The key equity benchmarks ended lower on Wednesday, as persistent FII selling, elevated crude oil prices and weak global cues weighed on sentiment. Concerns over rising domestic inflation and ongoing geopolitical tensions added to the cautious mood. The Nifty 50 settled below the 22,650 mark. Pharma and healthcare stocks declined sharply, while FMCG, IT and oil & gas shares advanced.

The S&P BSE Sensex declined 251.89 points or 0.34% to 72,781.99. The Nifty 50 index fell 99.25 points or 0.44% to 22,622.70.

Bajaj Finance (down 2.62%), Mahindra & Mahindra (down 2.47%) and ICICI Bank (down 1.59%) were major Nifty drags today.

In the broader market, the BSE 150 MidCap index shed 0.05%, while the BSE 250 SmallCap index advanced 0.08%.

Market breadth remained positive. On the NSE, 2,023 shares advanced, while 1,536 declined and 108 remained unchanged.

Economy:

India's wholesale price index (WPI) inflation accelerated to 11.39% in September 2026, from 9.92% in August, marking its highest level in the new series. The increase was driven by rising prices across major categories, with fuel and power inflation climbing to 25.9% from 22.9% in August. Inflation in food articles rose to 8.66% from 7.05%, while primary articles' inflation increased to 8.67% from 7.76%. Inflation in manufactured products also accelerated to 9.76% from 8.37%. Core WPI inflation under the new series stood at 9.8%. The broad-based increase points to mounting wholesale price pressures, particularly from energy and manufacturing costs.

Numbers to Track:

In the commodities market, Brent crude for the December 2026 settlement rose 73 cents or 0.69% to $106.42 a barrel.

The yield on India's 10-year benchmark federal paper advanced 0.43% to 7.406 compared with the previous session close of 7.363.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.1750 compared with its close of 95.3600 during the previous trading session.

MCX Gold futures for the 4 December 2026 settlement fell 0.34% to Rs 1,47,950.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 102.23.

The United States 10-year bond yield fell 0.42% to 5.195.

Global Markets:

Dow Jones futures were up 145 points on Wednesday, indicating a positive opening for US stocks

European equities advanced on Wednesday, supported by gains in technology stocks after semiconductor equipment maker ASML raised its full-year sales forecast and projected stronger-than-expected fourth-quarter revenue amid robust AI-related demand. ASML shares rose, lifting peers including ASM International, BE Semiconductor and Infineon Technologies.

The rally helped markets absorb comments from European Central Bank President Christine Lagarde, who said France must address its debt challenges through domestic fiscal policies rather than rely on central bank intervention. Investors also awaited US inflation data for clues on the Federal Reserve's interest-rate outlook.

Asian shares ended mixed, as investors assessed the technology-led selloff on Wall Street and awaited key US inflation data. Market sentiment remained cautious amid concerns over elevated crude oil prices and intensifying competition in the semiconductor industry.

Singapore's economy expanded 5.4% year on year in Q3 2026, moderating from 6.2% growth in the previous quarter, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Wednesday. On a seasonally adjusted quarter-on-quarter basis, GDP grew 1.1%, compared with 1.5% in Q2. Manufacturing output increased 7.5% year on year, slowing from 12.9% growth in the preceding quarter.

US stocks ended lower on Tuesday as weakness in technology and semiconductor shares weighed on the broader market. The Dow Jones Industrial Average declined 0.35% to 51,670.10, while the S&P 500 slipped 0.02% to 7,805.45. The Nasdaq Composite fell 0.15% to 27,204.38. Investors also assessed corporate earnings and awaited US inflation data for clues on the Federal Reserve's interest-rate outlook.

New York Federal Reserve President John Williams said he still considered one more interest-rate hike in 2026 potentially appropriate but saw no current need for further increases in 2027. In an interview with Bloomberg News, Williams said his outlook remained dependent on incoming economic data and developments in inflation. His comments indicate his current assessment rather than a commitment by the Federal Reserve to a specific rate path.

Stocks in Spotlight:

Bharat Heavy Electricals jumped 4.89% after the company reported a sharp jump in quarterly earnings. On a consolidated basis, the company posted a net profit of Rs 820.94 crore in Q2 FY27, up 118.98% YoY and 117.92% QoQ. Revenue from operations rose 23.81% YoY to Rs 9,300.35 crore in Q2 FY27, while growing 20.82% QoQ. Profit before tax stood at Rs 1,089.07 crore in Q2 FY27, up 118.15% YoY and 114.51% QoQ.

Hero Motors advanced 2.28% after the company reported a strong financial performance for the quarter ended 30 June 2026. The company?s consolidated net profit surged 115.64% to Rs 10.20 crore in Q1 FY27 compared with Rs 4.73 crore in Q1 FY26. Revenue from operations jumped 24.86% YoY to Rs 319.32 crore in the quarter ended 30th June 2026.

Canara Bank rallied 3.59% after the company's standalone net profit jumped 8.40% to Rs 5,174.76 crore on a 6.05% increase in total income to Rs 40,931.19 crore in Q2 FY27 over Q2 FY26.

Sejal Glass hit the upper circuit of 20% after reporting strong Q2 FY27 results. On a consolidated basis, adjusted net profit surged 77.83% YoY and 100% QoQ to Rs 14.28 crore. Net sales increased 32.79% YoY and 17.08% QoQ to Rs 138.09 crore in Q2 FY27. Profit before tax increased 76.83% YoY and 97.49% QoQ to Rs 15.72 crore.

Tata Elxsi jumped 5.73% after the company reported its Q2 FY27 results, with revenue from operations rising 15% year-on-year and 3.4% quarter-on-quarter to Rs 1,055.7 crore. Net profit increased 10% YoY to Rs 170.3 crore in Q2 FY27, compared with Rs 154.8 crore in Q2 FY26, while it declined 0.2% QoQ from Rs 170.6 crore in Q1 FY27.

Aegis Logistics surged 6.68% after the company approved the proposed acquisition of an 89.8% stake in Dubai-based Tristar Holdings. The acquisition carries an equity consideration of $809 million, including contingent payments and interest on deferred consideration.

Billionbrains Garage Ventures 0.70%. The company's Q2 FY27 consolidated net profit rose 53.95% year-on-year to Rs 725.65 crore, compared with Rs 471.34 crore in Q2 FY26. Profit declined 1.28% quarter-on-quarter from Rs 735.04 crore in Q1 FY27. Revenue from operations increased 47.39% YoY to Rs 1,501.53 crore from Rs 1,018.74 crore. It was nearly flat sequentially from Rs 1,501.42 crore.

Anand Rathi Share and Stock Brokers declined 5.59%. The company reported a 50% jump in consolidated net profit to Rs 41.94 crore in Q2 FY27, from Rs 27.9 crore reported in the same period last year. Revenue from operations jumped 20.25% YoY to Rs 273.21 crore in quarter ended 30th September 2026. The company attributed its revenue growth to strong momentum in its margin trading facility (MTF) business, steady distribution income and continued client acquisition.

IPO Update:

HD Fire Protect received bids for 29,71,59,280 shares as against 1,84,20,492 shares on offer, according to stock exchange data at 16:39 IST on 14 October 2026. The issue was subscribed 16.13 times.

The issue opened for bidding on 13 October 2026 and will close on 15 October 2026. The price band of the IPO is fixed between Rs 258 and 271 per share. An investor can bid for a minimum of 55 equity shares and multiples thereof.

Fusion CX received bids for 55,73,688 shares as against 1,40,40,000 shares on offer, according to stock exchange data at 16:39 IST on 14 October 2026. The issue was subscribed 0.40 times.

The issue opened for bidding on 14 October 2026 and will close on 16 October 2026. The price band of the IPO is fixed between Rs 275 and 289 per share. An investor can bid for a minimum of 51 equity shares and multiples thereof.

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