Nifty below 22,750; FMCG shares under pressure
At 11:30 IST, the barometer index, the S&P BSE Sensex tanked 201.04 points or 0.22% to 73,549.33. The Nifty 50 index lost 90.40 points or 0.41% to 22,720.95.
In the broader market, the BSE 150 MidCap Index declined 0.68% and the BSE 250 SmallCap Index fell 0.58%.
The market breadth was weak. On the BSE, 1,594 shares rose and 2,377 shares fell. A total of 249 shares were unchanged.
IPO Update:
Jio Platforms received bids for 68,95,13,712 shares as against 19,75,25,934 shares on offer, according to stock exchange data at 11:25 IST on 22 October 2026. The issue was subscribed 3.49 times.
The issue opened for bidding on 21 October 2026 and will close on 23 October 2026. The price band of the IPO is fixed between Rs 1,065 and 1,119 per share. An investor can bid for a minimum of 12 equity shares and multiples thereof.
Paras Healthcare received bids for 24,88,836 shares as against 1,20,83,331 shares on offer, according to stock exchange data at 11:25 IST on 22 October 2026. The issue was subscribed 0.21 times.
The issue opened for bidding on 21 October 2026 and will close on 23 October 2026. The price band of the IPO is fixed between Rs 660 and 693 per share. An investor can bid for a minimum of 21 equity shares and multiples thereof.
Buzzing Index:
The Nifty FMCG index fell 1.11% to 43,237. The index slipped 4.61% in the five consecutive trading sessions.
Nestle India (down 2.36%), Godfrey Phillips India (down 1.93%), Dabur India (down 1.44%), Varun Beverages (down 1.38%), Tata Consumer Products (down 1.35%), Patanjali Foods (down 1.2%), Colgate-Palmolive (India) (down 1.19%), ITC (down 1.05%), Britannia Industries (down 0.98%) and Hindustan Unilever (down 0.95%) declined.
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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