Sensex, Nifty slide for fourth day as weak global cues deepen market gloom

The key equity benchmarks extended their losing streak to a fourth consecutive session on Friday. Rising crude oil prices, escalating geopolitical tensions and sustained foreign fund outflows weighed on investor sentiment. The Nifty held the 22,600 mark. All sectoral indices ended lower, led by losses in consumer durables, metals, realty, energy and PSU banks. Broader indices also witnessed significant declines, reflecting widespread selling pressure.

The S&P BSE Sensex declined 125.56 points or 0.17% to 72,123.83. The Nifty 50 index lost 87.65 points or 0.39% to 22,600. In the fourth consecutive trading session, the Sensex and Nifty declined 3.49% and 2.36%, respectively.

Shriram Finance (down 3.98%), Reliance Industries (down 0.46%) and HDFC Bank (down 0.18%) were major Nifty drags today.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index declined 2.10% and the BSE 250 SmallCap Index fell 2.68%.

The market breadth was weak. On the NSE, 623 shares rose and 3,011 shares fell. A total of 90 shares were unchanged.

Numbers to Track:

In the commodities market, Brent crude for the December 2026 settlement jumped $1.23 or 1.09% to $114.40 a barrel.

The yield on India's 10-year benchmark federal paper shed 0.08% to 7.456 compared with the previous session close of 7.462.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.9450 compared with its close of 94.8100 during the previous trading session.

MCX Gold futures for the 4 December 2026 settlement fell 0.42% to Rs 1,42,700.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.16% to 101.77.

The United States 10-year bond yield rose 0.63% to 4.980.

Global Markets:

Dow futures were down 299 points, signalling a weak opening for US stocks.

European indices declined on Friday as investors assessed escalating geopolitical tensions in the Middle East, volatile crude oil prices and concerns over inflation and interest rates. Brent crude remained elevated at around $114 per barrel amid fears of energy supply disruptions, while investors also monitored corporate earnings and the returns on artificial intelligence (AI) investments.

UK retail sales volumes fell 0.4% in September, more than the 0.1% drop expected. Warm weather hit online clothing and supermarket volumes fell. Three-month volumes rose 0.7% and fuel volumes rose 2.2%.

Asian indices reversed early losses and ended higher despite concerns over AI spending triggered a selloff in technology shares and prompted investors to seek safer assets.

Japan's September inflation data also drew attention. Core consumer prices, excluding fresh food, rose 2.1% year on year, accelerating from 1.7% in August. An underlying measure that also excludes fuel increased 2.4%, compared with 1.9% in the previous month, strengthening the case for further monetary tightening by the Bank of Japan.

US stocks ended mixed on Thursday, October 22, 2026, as technology shares came under heavy selling pressure. The Dow Jones Industrial Average edged up 11.89 points, or 0.02%, to 52,867.98, while the S&P 500 fell 93.74 points, or 1.21%, to 7,663.43. The Nasdaq Composite dropped 694 points, or 2.6%, to 26,008.86, marking its steepest daily percentage decline since early June. The Philadelphia Semiconductor Index sank 6.7%, its biggest daily percentage drop since June 23.

Despite the technology-led selloff, most US stocks advanced, suggesting that losses were concentrated in high-growth shares. Investors also moved into US government bonds, pushing Treasury yields lower amid concerns over AI spending and economic growth.

Meta Platforms fell about 7% despite reporting third-quarter revenue above analysts' expectations. Investors focused on its rising AI-related expenditure and plans to issue non-voting shares to help finance its investments, renewing concerns about the capital requirements and potential returns of large-scale AI infrastructure spending.

Tesla declined 3.1% despite reporting positive free cash flow and lowering its projected 2026 capital expenditure to $20 billion from $25 billion. The revised spending outlook did little to ease investor concerns over growth prospects and the returns on future investments. Elsewhere, Spotify gained 11% after reporting higher revenue and an increase in premium subscribers, while 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 October 17, 2026, according to the US Department of Labor. The previous week's figure was revised upward 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, however, rose by 25,000 to 1.728 million in the week ended October 10.

New Listing:

Bonfiglioli Transmissions ended at Rs 576.35, representing a discount of 1.65% compared with the issue price of Rs 586.

The scrip was listed at 43, matching the initial public offer (IPO) price. The stock has hit a high of Rs 607 and a low of Rs 527.40. On the BSE, over 37.36 lakh shares of the company were traded in the counter.

Shares of Zetwerk Manufacturing Business ended at Rs 138.30, representing a discount of 8.41% as compared with the issue price of Rs 151.

The stock debuted at Rs 159 on the BSE, a premium of 5.30% over its issue price. The stock has hit a high of Rs 160.50 and a low of Rs 127.20. On the BSE, over 54.33 lakh shares of the company were traded in the counter so far.

Shares of Sahajanand Medical Technologies ended at Rs 378.20, representing a premium of 9.94% as compared with the issue price of Rs 344.

The stock debuted at Rs 368.05 on the BSE, a premium of 6.99% over its issue price. The stock has hit a high of Rs 409.95 and a low of Rs 347.50. On the BSE, over 13.02 lakh shares of the company were traded in the counter.

Shares of Tonbo Imaging India ended at Rs 1,133.65, representing a premium of 61.95% as compared with the issue price of Rs 700.

The stock debuted at Rs 1,182 on the BSE, a premium of 68.86% over its issue price. The stock has hit a high of Rs 1,209.85 and a low of Rs 1,013.95. On the BSE, over 22.78 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Sterlite Technologies (STL) rose 2.39% after reporting a sharp increase in consolidated net profit and revenue for the September quarter of FY27. Consolidated revenue from operations surged 144.6% year on year and 32.4% quarter on quarter to Rs 2,529 crore in Q2 FY27. Net profit after minority interest and share of joint ventures jumped to Rs 517 crore in Q2 FY27 from Rs 4 crore a year earlier. Sequentially, net profit surged 161.9% from Rs 197 crore in the June quarter. Its open order book stood at Rs 35,274 crore at the end of the quarter.

Rallis India declined 5.21% after the company?s standalone net profit fell 16.67% to Rs 85 crore in Q2 FY27 compared with Rs 102 crore in Q2 FY26. Revenue from operations declined marginally by 0.35% to Rs 858 crore in the quarter ended 30 September 2026, compared with Rs 861 crore in the corresponding quarter last year.

Swiggy tumbled 16.75% after the company's Q2 FY27 results raised concerns over rising losses and the pace of profitability in its quick-commerce business, Instamart. The company's consolidated net loss narrowed year on year to Rs 922 crore in the September quarter from Rs 1,092 crore a year earlier. However, the loss widened sequentially from Rs 791 crore in the June quarter. Consolidated revenue from operations increased 36.1% year on year and grew 11.1% sequentially to Rs 7,571 crore in Q2 FY27.

IPO Update:

Jio Platforms received bids for 3,65,31,22,704 shares as against 19,75,25,934 shares on offer, according to stock exchange data at 16:54 IST on 23 October 2026. The issue was subscribed 18.49 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 2,69,12,403 shares as against 1,20,83,331 shares on offer, according to stock exchange data at 16:54 IST on 23 October 2026. The issue was subscribed 2.23 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.

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