Nifty trade below 22,050 in early trade; breadth weak
At 09:30 IST, the barometer index, the S&P BSE Sensex tanked 458.02 points or 0.63% to 74,260.66. The Nifty 50 index lost 116.65 points or 0.50% to 23,029.50.
In the broader market, the BSE 150 MidCap Index declined 0.47% and the BSE 250 SmallCap Index fell 0.73%.
The market breadth was weak. On the BSE, 1,077 shares rose and 2,137 shares fell. A total of 218 shares were unchanged.
FPIs sold shares worth Rs 54636.85 crore in October through 16 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:
Axis Bank fell 3.64% after the bank reported a 37.6% year-on-year (YoY) increase in standalone net profit to Rs 7,003.28 crore in Q2 FY27, compared with Rs 5,089.64 crore in Q2 FY26. Total income increased 14.2% YoY to Rs 42,949.32 crore in the September 2026 quarter, compared with Rs 37,594.81 crore in the year-ago period.
HDFC Bank declined 1.48% after the bank?s standalone net profit rose 4.66% to Rs 19,509.96 crore on a 6.8% increase in total income to Rs 97,257.62 crore in Q2 September 2026 over Q2 September 2025. Standalone net interest income increased 9.7% YoY to Rs 34,620 crore, while net revenue stood at Rs 48,450 crore, compared with Rs 45,900 crore a year ago.
Numbers to Track:
The yield on India's 10-year benchmark federal paper fell 0.16% to 7.370 compared with the previous session close of 7.382.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.7950 compared with its close of 94.8950 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rose 0.25% to Rs 1,48,302.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 101.82.
The United States 10-year bond yield shed 0.76% to 5.061.
In the commodities market, Brent crude for December 2026 settlement declined $2.11 or 1.92% to $107.75 a barrel.
Global Markets:
Dow Jones futures were up 219 points, indicating a strong opening in the US stocks.
Most Asian equity indices traded lower on Monday, as technology stocks came under pressure amid concerns over the high cost of artificial intelligence (AI) infrastructure investments and rising financing costs. Hong Kong markets remained closed for a holiday.
US equities ended sharply lower on Friday, 16 October 2026, as technology and semiconductor stocks extended their sell-off. The Dow Jones Industrial Average declined 0.34% to 52,002.41, while the S&P 500 fell 1.09% to 7,659.44. The Nasdaq Composite dropped 2.14% to 26,140.03.
Concerns over the sustainability of heavy AI-related investments and stronger-than-expected US inflation data weighed on technology shares and revived expectations of further Federal Reserve rate increases.
Crude oil prices eased after US President Donald Trump issued an executive order on 16 October waiving certain sanctions, restrictions and duties under the newly enacted Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. The move followed an agreement concerning Russian diesel exports. The order does not remove all existing US sanctions against Russia; several measures imposed under earlier executive orders remain in place.
Brent crude futures fell around 1.6% to $108.06 a barrel. The easing of restrictions on certain Russian energy exports raised expectations of additional fuel supplies, putting downward pressure on oil prices. However, geopolitical risks, including tensions around the Strait of Hormuz, continued to cloud the global energy outlook.
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