Indian stock markets closed sharply lower on Monday as weakness in private bank stocks, disappointing corporate earnings and rising crude oil prices weighed on sentiment. The Nifty 50 closed at 22,888.95, down 257.20 points or 1.11%, while the BSE Sensex fell 876.37 points (1.17%) to 73,852.90. Almost all sectoral indices fell, with only the Nifty PSU Bank index rising 2.41%, while Axis Bank dropped more than 4%. Brent crude traded at USD 108.50 per barrel, keeping concerns over imported inflation in focus. Gold was largely flat, and Asian markets were mixed, with South Korea's KOSPI up 1.73%.
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- Sensex sinks 876 points, Nifty falls 1.11% as crude oil nears USD 109
Indian stock markets closed sharply lower on Monday as weakness in private bank stocks, disappointing corporate earnings and rising crude oil prices weighed on sentiment. The Nifty 50 closed at 22,888.95, down 1.11%, while the BSE Sensex fell 876.37 points, or 1.17%, to 73,852.90; the Nifty PSU Bank index was the only major sectoral gainer, rising 2.41%. Axis Bank fell more than 4%, while Brent crude traded at USD 108.50 per barrel, keeping concerns over imported inflation and corporate costs in focus. Analysts said markets could stay volatile as investors track earnings, oil prices and currency stability. The rupee rose for a seventh straight session to near 94.95 per dollar, but RBI reserves fell by USD 8.6 billion to USD 726 billion in the week ended October 9.
- Sensex sinks 876 points , Nifty falls 1 . 11 % as Crude oil nears USD 109
The Nifty 50 closed at 22,888.95, down 257.20 points or 1.11%, while the BSE Sensex fell 876.37 points or 1.17% to 73,852.90. Weakness in private banks, earnings below expectations and rising crude prices intensified profit-booking, with almost all sectors in the red; the Nifty PSU Bank index was the only major gainer, up 2.41%. Axis Bank fell more than 4%, while SBI was among the top gainers. Brent crude traded at USD 108.50 per barrel, raising concerns over imported inflation, and the rupee firmed to around 94.8 per dollar after a seventh straight session of gains. However, reserves fell by USD 8.6 billion to USD 726 billion in the week ended October 9, with the total drawdown since early September near USD 60 billion.
- Sensex, Nifty end lower amid volatile trade and profit booking
The Nifty 50 fell 257.20 points (1.11%) to 22,888.95 and the BSE Sensex dropped 876.37 points (1.17%) to 73,852.90, after falling more than 1,000 points intraday before partially recovering; the Bank Nifty shed 355.90 points to 55,488.10. Pressure came from profit booking after last week's rally, weak global cues, foreign fund outflows, elevated crude oil prices and September-quarter earnings. HDFC Bank, ICICI Bank and Axis Bank together accounted for more than half of the Sensex's decline, even though Axis Bank reported a 39.4% rise in consolidated net profit, while the Nifty PSU Bank index gained about 2.5%. The rupee extended its appreciation streak to seven consecutive sessions, supported by a stable US dollar and Reserve Bank of India intervention, while Brent crude traded around $107-108 a barrel.
- Stock Market Crash Today : Investors Lose Rs 5 Lakh Crore As Sensex , Nifty Plunge . What Went Wrong ?
Indian stock markets fell sharply on Monday, October 19, erasing the previous week's recovery and wiping out more than Rs 5 lakh crore in investor wealth. The BSE Sensex dropped over 1,000 points, or 1.4%, to an intraday low of 73,709, while the NSE Nifty 50 lost about 300 points. Major drivers included heavy selling in banking stocks after September-quarter results, with HDFC Bank, ICICI Bank and Axis Bank accounting for half of the Sensex's decline; Brent crude near $108-$109 per barrel amid tensions around the Strait of Hormuz; and foreign investors pulling out Rs 52,100 crore in October after Rs 35,861 crore in September. Midcap and smallcap stocks also fell.
- Sensex sinks 876 points , Nifty falls 1 . 11 % as Crude oil nears USD 109
Indian stock markets closed sharply lower, with the Nifty 50 down 257.20 points (1.11%) at 22,888.95 and the BSE Sensex down 876.37 points (1.17%) at 73,852.90. Selling was widespread as weakness in private banks, earnings below expectations and rising crude prices weighed on sentiment, with Axis Bank falling more than 4%. The Nifty PSU Bank index was the only major sectoral index to end higher, rising 2.41%. Brent crude traded at USD 108.50 per barrel, while the rupee firmed for a seventh straight session near 94.95 per dollar even as RBI reserves fell USD 8.6 billion to USD 726 billion in the week to October 9.
- Sensex , Nifty open lower as investors track bank earnings , rising oil prices
The BSE Sensex opened at 74,594.65, down 134.62 points (0.18%), and the NSE Nifty 50 at 23,096.85, down 49.30 points (0.21%), after last week's rally delivered the strongest weekly performance in about six months. Investors are watching September-quarter results from HDFC Bank, which narrowly missed estimates on weaker treasury income and higher bad-loan provisions, and ICICI Bank, which beat expectations on loan growth and lower provisions. Brent crude is trading near $108 a barrel, after easing from $110 on Friday, keeping pressure on sentiment. Foreign investors turned net buyers, purchasing shares worth ₹11.66 billion ($122.79 million) after 15 consecutive sessions of selling, while domestic institutions were net sellers of ₹36.61 billion. Analyst Hariselvan Radhakrishnan of HST Wealth said a positive reaction to private banks could help the market absorb higher oil prices, with Nifty facing immediate resistance at 23,150.
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