Archive · 8 Oct 2026
Indian Markets Extend Slide as Nifty Hits 52-Week Low
Indian share prices fell for a second session on Thursday.
The Nifty briefly reached its lowest point in 52 weeks and closed at 22,231.80.
The Sensex also fell, and the total value of companies listed on the BSE dropped by around Rs 12.64 lakh crore over two sessions.
Many shares declined, including mid-sized and smaller companies, and more than 300 stocks touched year-long lows.
The reports differ on IT shares: one described the sector as relatively resilient, while another said IT stocks led selling.
Analysts said investors were concerned about higher interest rates, expensive oil, high US bond yields and foreign investors selling shares.
They also pointed to a weaker rupee and global market declines.
TCS separately reported higher quarterly profit and revenue and announced a dividend.
One analyst put possible Nifty support near 21,750 and resistance near 22,400 and 22,600.
The Nifty fell 1.64% to 22,231.80 after touching a 52-week low of 22,179.90; the Sensex fell 1.44% to 71,593.24.
BSE-listed companies lost around Rs 12.64 lakh crore in market value over two sessions, and more than 300 stocks hit 52-week lows.
Selling was broad-based: midcap and smallcap indices fell more than 2%, while reports differed on whether IT showed relative resilience or led selling.
Analysts cited the RBI's 25-basis-point repo-rate increase, crude above $100 a barrel, elevated US bond yields, foreign investor selling and a weaker rupee as pressures.
TCS reported Q2 FY27 profit of Rs 13,934 crore and revenue of Rs 73,188 crore, and announced a Rs 12-per-share dividend.
- Who
- Indian stock-market investors and listed companies; Tata Consultancy Services also reported quarterly results.
- What
- Indian shares fell for a second session, with the Nifty reaching a 52-week low.
- When
- Thursday; the market decline followed a second consecutive session of losses.
- Where
- Indian equity markets, including the NSE and BSE.
- Why
- Analysts cited the RBI rate increase and tightening stance, crude prices above $100 a barrel, elevated US bond yields, foreign investor outflows and a weaker rupee.
Market Weakness
Relative Resilience
IT-sector performance
Market Weakness
One report said IT stocks led the broad-based selling.
Relative Resilience
Another report described the IT index as the only sector showing relative resilience.
Economic outlook
Market Weakness
Analysts warned that anticipated further rate hikes, higher borrowing costs, foreign investor selling and expensive crude could weigh on growth and equity valuations.
Relative Resilience
Vinod Nair said favourable high-frequency data pointed to a resilient domestic economy, while noting that additional rate hikes could keep valuations compressed.
- Nifty 50 close
- 22,231.80, down 371.25 points or 1.64%
- Nifty 50 intraday low
- 22,179.90, a 52-week low
- Sensex close
- 71,593.24, down 1,045.46 points or 1.44%
- BSE-listed companies' market value
- Declined by around Rs 12.64 lakh crore over two sessions, from Rs 473.61 lakh crore on Tuesday, October 6
- Stocks at 52-week lows
- More than 300
- RBI repo rate
- Raised by 25 basis points to 5.50%; the RBI shifted its stance towards calibrated tightening
- TCS Q2 FY27 results
- Net profit Rs 13,934 crore, up 14.86% year on year; revenue Rs 73,188 crore, up 11.22%
- TCS dividend
- Rs 12 per equity share
