Archive · 9 Oct 2026
Oil, RBI Policy and Foreign Selling Hammer Indian Markets
Indian shares fell sharply on Thursday.
The Sensex lost about 1,045 points, and the Nifty lost about 371 points.
The reports differ on whether the Nifty’s closing level was its lowest in 18 or 21 months.
One report said more than Rs 10 lakh crore in market value was wiped away.
Investors were worried after the Reserve Bank of India raised its key rate and signalled a tighter policy.
Oil prices also climbed above $104 a barrel, which can make imports more expensive for India.
Foreign investors had also been selling shares.
Many sectors and most stocks on the BSE finished lower.
The Sensex fell 1,045.46 points to 71,593.24, its lowest close in more than two-and-a-half years.
The Nifty dropped 371.25 points; one report called its close a 21-month low, while another said 18 months.
More than Rs 10 lakh crore in market capitalisation was erased, according to one report.
The sell-off followed the RBI’s 25-basis-point repo-rate increase and shift to a calibrated-tightening stance.
Brent crude rose above $104 a barrel as foreign investors continued selling Indian equities.
- Who
- Indian equity markets and investors, including foreign institutional investors selling shares.
- What
- The Sensex and Nifty fell sharply, amid broad market declines.
- When
- Thursday; the reports say the sell-off followed the RBI’s policy decision the previous day.
- Where
- Indian stock markets.
- Why
- Reports cited the RBI’s tighter policy stance, rising crude prices and foreign investor outflows.
- Sensex close
- 71,593.24, down 1,045.46 points or 1.44 per cent
- Sensex low during trading
- 71,327.75
- Nifty close
- 22,231.80, down 371.25 points or 1.64 per cent
- Nifty low during trading
- 22,179.90
- Nifty closing-low timeframe
- Reports differ: one says 21 months, the other 18 months
- RBI repo rate
- Raised by 25 basis points to 5.50 per cent
- Brent crude
- Rose to about $104.5 a barrel in one report; another put it at $104.09
- FII cash-market sales
- Rs 6,121.37 crore on Wednesday
