Sensex declines 353 points, dragged by Reliance, IT stocks, rising crude oil prices
The 30-share BSE Sensex dropped 352.64 points, or 0.48%, to settle at 73,246.03, recovering most of its sharp intraday losses. During the day, it tumbled 995.1 points, or 1.35%, to 72,603.57
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Market benchmark indices Sensex and Nifty ended lower on Wednesday (October 28, 2026), dragged down by Reliance Industries, IT companies, rising crude oil prices and caution ahead of the U.S. Federal Reserve's policy decision.
The 30-share BSE Sensex dropped 352.64 points, or 0.48%, to settle at 73,246.03, recovering most of its sharp intraday losses. During the day, it tumbled 995.1 points, or 1.35%, to 72,603.57.
The 50-share NSE Nifty was down 50.90 points, or 0.22%, to end at 22,698.85.
Shares of Jio Platforms, the Reliance Industries-backed digital services company, made a blockbuster debut on Wednesday (October 28). The stock ended nearly 27% higher against the issue price of ₹1,119, becoming the second most valuable domestic firm after Reliance Industries by market capitalisation. Jio Platforms commanded a market valuation of ₹13 lakh crore.
Of the 30 Sensex firms, Reliance Industries dropped 3.46%, Infosys 3.34%, Tech Mahindra 1.83%, Tata Consultancy Services 1.68%, Bharti Airtel 1.42%, and Tata Steel 1.37%.
Larsen & Toubro jumped nearly 4% after the engineering major reported a 32.5% rise in consolidated net profit to ₹5,202.10 crore for the quarter ended September 2026, driven by higher revenue.
Trent, State Bank of India, Axis Bank and InterGlobe Aviation were also the winners from the blue-chip pack.
Brent crude, the global oil benchmark, jumped 0.99% to $114.5 per barrel.
"Domestic equities remained volatile and traded lower as a fresh spike in crude oil prices and sharp selling in IT stocks weighed on investor sentiment. Oil prices rebounded amid renewed concerns over supply disruptions following Houthi attacks on Saudi Arabia, overshadowing ongoing diplomatic efforts. Investors will now turn their attention to the U.S. Fed’s policy guidance, particularly signals around the interest-rate trajectory into December," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Foreign Institutional Investors (FIIs) bought equities worth ₹4,240.39 crore on Tuesday (October 27), according to exchange data.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite index and Hong Kong's Hang Seng index ended higher.
Markets in Europe were trading lower. The U.S. markets ended higher on Tuesday (October 27).
On Tuesday (October 27), the Sensex dipped 8.08 points, or 0.01%, to settle at 73,598.67. The Nifty skidded 3.45 points, or 0.02%, to end at 22,749.75.
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