Business · Markets · 3 hrs ago
Sensex and Nifty fall as IT stocks and rising oil weigh
India’s Sensex and Nifty ended lower as investors sold shares, especially in the technology sector.
The Sensex fell 0.48% to 73,246, while the Nifty dropped 0.22% to 22,699, after both lost more ground earlier in the session.
IT stocks came under pressure amid global shifts in sentiment toward AI-linked shares.
Rising oil prices added inflation concerns after an attack on a Saudi Arabian refinery pushed Brent crude to $114.50 a barrel.
Buying in auto and some banking shares helped the indexes recover much of their earlier losses, while mid- and small-cap indexes edged higher.
Investors also awaited the US Federal Reserve’s decision, and analysts said the Nifty’s next key support is around 22,500–22,400, with resistance near 22,780–22,800.
Indian equity benchmarks ended lower on Wednesday as IT stocks fell, oil prices rose and investors awaited a US Federal Reserve policy decision.
The Sensex closed down 352.6 points, or 0.48%, at 73,246, after falling as much as 995 points during the session.
The Nifty declined 50.90 points, or 0.22%, to 22,699.
Buying in auto and some banking stocks helped both indexes recover much of their intraday losses.
Brent crude rose 1% to $114.50 a barrel after an attack on a Saudi Arabian refinery.
- Who
- Indian equity benchmarks Sensex and Nifty, and investors in the Indian stock market.
- What
- The Sensex and Nifty ended lower. Selling in IT stocks and rising oil prices weighed on sentiment.
- When
- Wednesday. The article was published on 2026-10-29.
- Where
- Indian stock markets.
- Why
- IT stocks came under pressure, crude oil prices rose, and investors were cautious ahead of the US Federal Reserve's policy decision.
This story does not have two clearly opposing sides.
The Sensex fell as much as 995 points, or 1.35%, and both benchmarks had fallen as much as 1%.
The Sensex ended at 73,246 and the Nifty settled at 22,699.
- Sensex close
- 73,246, down 352.6 points or 0.48%
- Nifty close
- 22,699, down 50.90 points or 0.22%
- Brent crude
- $114.50 a barrel, up 1%
- Nifty IT and Oil & Gas indexes
- Each fell around 2%
- Rupee close
- 95.23 against the US dollar, down 11 paise
What people are saying
FPIs have sold about ₹53,000 crore this month, while domestic institutions keep absorbing it. This is a positioning-led fall, not an earnings one
Recent market corrections reflect global macro pressures and forced liquidity selling, not invalidated investment theses
A sustained move above resistance could open the way toward 23000-23100, whereas a breakdown below support may drag the index toward 22,200