Nifty trade below 22,600 in early trade; breadth weak
At 09:30 IST, the barometer index, the S&P BSE Sensex tanked 488.34 points or 0.66% to 73,231.64. The Nifty 50 index lost 217.85 points or 0.96% to 22,593.50.
In the broader market, the BSE 150 MidCap Index declined 1.42% and the BSE 250 SmallCap Index fell 1.15%.
The market breadth was negative. On the BSE, 766 shares rose and 2,394 shares fell. A total of 188 shares were unchanged.
FPIs sold shares worth Rs 52,482.59 crore in October through 21 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:
Eternal rose 1.07% after the company reported a 92.31% jump in consolidated net profit to Rs 125 crore in Q2 FY27 compared with Rs 65 crore in Q2 FY26. Revenue from operations climbed 77.62% YoY to Rs 24,138 crore in Q2 FY27.
PC Jeweller gained 2.49% after the company reported 15.56% jump in consolidated net profit to Rs 240.16 crore in Q2 FY27 compared with Rs 207.82 crore in Q2 FY26. Revenue from operations climbed 27.78% YoY to Rs 1054.47 crore in the quarter ended 30th September 2026.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.03% to 7.441 compared with the previous session close of 7.443.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.4200 compared with its close of 94.3800 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement fell 1.17% to Rs 1,44,370.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.18% to 101.60.
The United States 10-year bond yield declined 1.26% to 5.084.
In the commodities market, Brent crude for December 2026 settlement jumped $1.71 or 1.57% to $110.53 a barrel.
Global Markets:
Asian indices traded lower on Thursday as concerns over artificial intelligence spending and escalating tensions in the Middle East offset support from strong US corporate earnings.
Investor sentiment remained cautious despite gains on Wall Street in the previous session. Markets assessed earnings from major technology companies, the outlook for AI infrastructure spending and the risk of disruptions to energy supplies in the Gulf. Rising crude oil prices added to inflation concerns ahead of upcoming central bank decisions.
The Bank of Korea kept its benchmark seven-day repurchase rate unchanged at 3.00% on Thursday, following consecutive rate increases in July and August.
South Korea's consumer inflation eased to 2.9% in September from 3.1% in August but remained above the central bank's 2% target. Strong semiconductor exports and persistent inflation pressures kept the possibility of further monetary tightening in focus.
Oil prices rose during early Asian trading on Thursday as escalating Middle East tensions heightened concerns over supply disruptions. Brent crude futures gained $1.29, or 1.2%, to $110.11 a barrel.
The rise followed attacks in Saudi Arabia, including a drone strike on an oilfield and an attack on an airport in Dammam. The United States ordered some diplomats and their family members to leave missions in Saudi Arabia. Reports of attacks on shipping in the Gulf of Oman also raised concerns about the security of regional oil supplies.
US stocks advanced on Wednesday, 21 October 2026, supported by corporate earnings and renewed interest in AI-related shares. The Dow Jones Industrial Average rose 360.21 points, or 0.69%, to close at 52,856.09. The S&P 500 gained 44.60 points, or 0.58%, to 7,757.17, while the Nasdaq Composite advanced 278.04 points, or 1.05%, to 26,702.86.
Meta Platforms reported revenue of $64.60 billion for the quarter ended 30 September 2026, up 26% year on year. Net income rose to $9.86 billion from $2.71 billion a year earlier, while diluted earnings per share increased to $3.83 from $1.05. However, the results included a $9.89 billion charge related to a legal settlement with US state attorney?s general. Excluding this charge, diluted earnings per share would have been $7.40.
Meta forecast fourth-quarter revenue of $73 billion to $76 billion and raised its full-year expense outlook to $175 billion to $179 billion. Investors will monitor its capital expenditure plans and the returns on its AI investments.
Tesla reported third-quarter revenue of $28.05 billion, broadly unchanged from a year earlier. Net income attributable to common stockholders fell 43% to $787 million, while adjusted earnings per share of $0.48 exceeded analyst expectations. The company generated $1.53 billion in free cash flow during the quarter.
Tesla also lowered its projected 2026 capital expenditure to $20 billion from $25 billion. Its shares fell 3.2% in after-hours trading following the results. Investors will assess the implications of the revised spending outlook for the company's future growth and investment plans.
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