Nifty below 22,500 level; realty shares under pressure
At 11:30 IST, the barometer index, the S&P BSE Sensex tanked 458.66 points or 0.63% to 72,790.73. The Nifty 50 index lost 213.35 points or 0.94% to 22,474.10.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index dropped 2.40% and the BSE 250 SmallCap Index slumped 2.81%.
Sellers outnumbered buyers. On the BSE, 989 shares rose and 3,164 shares fell. A total of 151 shares were unchanged.
IPO Update:
Jio Platforms received bids for 1,28,17,48,704 shares as against 19,75,25,934 shares on offer, according to stock exchange data at 11:25 IST on 23 October 2026. The issue was subscribed 6.49 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 49,65,723 shares as against 1,20,83,331 shares on offer, according to stock exchange data at 11:25 IST on 23 October 2026. The issue was subscribed 0.41 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 Realty index fell 2.71% to 781.65. The index slipped 5.63% in the five consecutive trading sessions.
Lodha Developers (down 4.93%), Sobha (down 4.5%), Anant Raj (down 4.41%), Aditya Birla Real Estate (down 3.42%), Prestige Estates Projects (down 3.16%), Brigade Enterprises (down 2.69%), Godrej Properties (down 2.28%), Phoenix Mills (down 2.26%), Oberoi Realty (down 2.23%) and DLF (down 1.37%) declined.
Global Markets:
Dow futures were down 133 points, signalling a lower opening for US stocks.
Asian indices traded lower on Friday as renewed concerns over artificial intelligence spending triggered a selloff in technology shares and investors moved towards safer assets.
The selloff followed a sharp decline in US technology stocks, as earnings from Meta Platforms and Tesla failed to ease concerns over the cost and profitability of AI investments. Semiconductor shares led losses, while rising oil prices and geopolitical tensions in the Middle East added to uncertainty over inflation and global growth.
Japan's September inflation data added another consideration for investors. Core consumer prices, excluding fresh food, rose 2.1% year on year, accelerating from 1.7% in August. An underlying inflation measure that also excludes fuel rose 2.4%, compared with 1.9% in August. The figures strengthened the case for further monetary tightening by the Bank of Japan.
US stocks ended mixed on Thursday, 22 October 2026, as renewed concerns over AI investment costs triggered a sharp technology selloff. The Dow Jones Industrial Average edged up 11.89 points, or 0.02%, to 52,867.98. The S&P 500 fell 93.74 points, or 1.21%, to 7,663.43, while the Nasdaq Composite dropped 694 points, or 2.6%, to 26,008.86. The Nasdaq recorded its steepest daily percentage decline since early June. The Philadelphia SE Semiconductor Index sank 6.7%, its biggest daily percentage drop since June 23.
Despite the technology-led decline, most US stocks advanced, indicating that losses were concentrated in high-growth shares. Investors also moved towards US government bonds, pushing Treasury yields lower as concerns about AI spending and economic growth intensified.
Meta Platforms shares fell about 7% on Thursday despite reporting third-quarter revenue above analysts' expectations. Investors focused on the company's mounting AI-related expenditure and plans to issue non-voting shares to help finance its investments. The announcement renewed concerns about the capital requirements and potential returns of large-scale AI infrastructure spending.
Tesla shares declined 3.1% despite reporting positive free cash flow and reducing its projected 2026 capital expenditure to $20 billion from $25 billion. The revised spending outlook did little to reassure investors concerned about growth prospects and the returns on future investments.
Spotify gained 11% after reporting higher revenue and an increase in premium subscribers. Comcast advanced 3.4% after adjusted earnings per share exceeded expectations despite a decline in revenue.
US initial jobless claims fell by 6,000 to 194,000 in the week ended 17 October 2026, according to the US Department of Labor. The previous week's figure was revised upwards to 200,000 from 199,000. The latest reading was below the market consensus of 200,000, indicating continued resilience in the labour market. Continuing claims rose by 25,000 to 1.728 million in the week ended 10 October.
Brent crude futures fell 0.2% to $112.96 a barrel during early Asian trading on Friday. The modest pullback followed a surge of about 4% in the previous session, which had taken oil prices to a five-month high. Brent remained on course for a third consecutive weekly gain.
Oil prices have been supported by concerns over disruptions to energy supplies following Houthi attacks in Saudi Arabia.
The US 10-year Treasury yield approached a one-month low of 4.953%, falling below the 5% level as investors sought the relative safety of government bonds.
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