Stock Market Open Report Today, October 27, 2026: Sensex, Nifty Crash After Lower Open as Oil, IT Drag and Jio, Fed Loom

Mumbai, Oct 28: Indian equity benchmarks crashed after opening lower on Wednesday as costlier crude oil, a sharp sell-off in information technology stocks ahead of the US Federal Reserve’s rate decision and Jio Platforms’ debut loomed above benchmarks.

The BSE Sensex fell 680.76 points, or 0.92 per cent, to 72,917.91 at 9:24 am, against Tuesday’s close of 73,598.67. The NSE Nifty 50 slipped 182.15 points, or 0.8 per cent, to 22,567.60 at 9:25 am, from its previous close of 22,749.75. Both indices had ended almost flat on Tuesday, so the fall breaks that sideways trade. 

Jio Platforms makes its stock market debut today after raising Rs 30,213 crore in India’s largest IPO, which drew 22.19 times subscription at a price band of Rs 1,065 to Rs 1,119. The shares will list on the BSE and NSE at 10 am, after a special pre-open session from 9 am to 9:45 am. 

Oil is the biggest worry. Brent crude is trading near $116 a barrel, close to a six-month high, as attacks on Saudi Arabia raise fears of supply disruption. 

IT stocks are the second drag. The Nifty IT index is down 3.50 per cent at 31,063.50, with Infosys, Tech Mahindra, HCLTech and TCS losing between 3 per cent and 4.5 per cent each on worries over the sector’s growth outlook. The Fed announces its decision late tonight India time, and while it is widely expected to hold rates at 3.75 to 4 per cent after September’s hike, investors will study its tone on a possible December increase. 

The mood abroad is better. Asian stocks are rallying, led by a 6.3 per cent surge in South Korea’s Kospi, and US indices ended higher on Tuesday, with the Nasdaq up 1.18 per cent. Iran’s security chief met the Supreme Leader after talks with Saudi Arabia, Turkey and Pakistan, yet Tehran’s conditions for ending the war remain unmet. 

Gainers & Losers 

In early trade, Larsen & Toubro (LT) led the Nifty 50 gainers, jumping 5.55 per cent to Rs 3,868.40 from its previous close of Rs 3,665.10 after its September-quarter results. Bajaj Auto (BAJAJ-AUTO) rose 2.21 per cent to Rs 10,620 from Rs 10,390, SBI Life Insurance Company (SBILIFE) gained 1.12 per cent to Rs 1,651.30 from Rs 1,633, Hindalco Industries (HINDALCO) added 0.67 per cent to Rs 897.20 from Rs 891.20, and Maruti Suzuki India (MARUTI) edged up 0.50 per cent to Rs 11,507 from Rs 11,450. 

On the other side, Infosys (INFY) was the top loser, down 4.45 per cent at Rs 1,111.20 against Rs 1,163, followed by Tech Mahindra (TECHM), which fell 3.81 per cent to Rs 1,742.40 from Rs 1,811.40. HCL Technologies (HCLTECH) dropped 3.67 per cent to Rs 1,367.90 from Rs 1,420, Tata Consultancy Services (TCS) lost 3.06 per cent to Rs 2,420.40 from Rs 2,496.90, and Tata Consumer Products (TATACONSUM) fell 2.80 per cent to Rs 972 from Rs 1,000. 

Broad Market & Sectoral Indices 

The broader market was mostly in the red. Among broad-market indices, the Nifty 100 fell 0.65 per cent to 23,536.40, the Nifty 200 lost 0.63 per cent to 12,964.65 and the Nifty Midcap 100 slipped 0.56 per cent to 56,708.85, while only the Nifty Smallcap 50 (up 0.16 per cent at 9,322.45) and the Nifty Smallcap 100 (up 0.09 per cent at 18,484.80) were in the green. Among sectoral indices, the Nifty IT was the worst hit, down 3.50 per cent, followed by the Nifty FMCG, which lost 1.28 per cent to 42,568, and the Nifty Oil & Gas, which fell 1.01 per cent to 10,429.25. The Nifty Auto rose 0.15 per cent to 25,379.15, while the Nifty Housing and Nifty Infrastructure inched up 0.12 per cent to 10,926.30 and 0.09 per cent to 8,734.50, respectively. 

Oil Prices 

Brent crude rose $2.10, or 1.84 per cent, to $115.98 a barrel, while US WTI crude gained $1.53, or 1.53 per cent, to $101.43. Murban crude slipped 2.52 per cent to $114.71, but the OPEC basket climbed 1.88 per cent to $117.25. The surge follows a Houthi claim of a missile strike on Saudi Arabia’s Ras Tanura refinery, the kingdom’s largest, which has a capacity of 550,000 barrels per day. Oil is now near a six-month high, with little relief in sight as the Iran war enters its eighth month. 

Higher crude pinches India’s pocket because the country imports most of its oil, so a bigger import bill widens the trade and current account deficits and weighs on the rupee. A weaker rupee makes every imported barrel costlier, while dearer diesel and petrol lift transport costs and push up food and manufacturing prices, adding to inflation just as the RBI has turned to rate hikes. Households pay more for fuel and goods, and companies in paints, tyres, aviation and chemicals face thinner margins. 

Asian Stocks on Wednesday Morning 

Asian stocks traded higher on Wednesday morning, led by South Korea’s Kospi, which surged 6.3 per cent to 5,993.42, while Japan’s Nikkei 225 gained 1.22 per cent to 64,040.21 and Taiwan’s benchmark rose 1.43 per cent to 46,753.40. China’s Shanghai Composite added 0.27 per cent to 3,657.99 and Australia’s ASX 200 inched up 0.19 per cent to 8,867.10. Hong Kong’s Hang Seng was the lone notable laggard, easing 0.05 per cent to 23,030.51. 

US stocks ended higher on Tuesday, with the Nasdaq leading. The Nasdaq Composite jumped 1.18 per cent to 26,477.81 and the S&P 500 rose 0.6 per cent to 7,722.60, while the Dow Jones Industrial Average edged up 0.03 per cent to 52,377.57. The Russell 2000 gained 1.16 per cent, and the VIX volatility index fell 4.73 per cent to 17.52. 

On the earnings front, Hindustan Unilever, Adani Enterprises, Adani Ports and Special Economic Zone, Hero MotoCorp, TVS Motor, Hyundai Motor India, Pidilite Industries and Vedanta are among the companies set to declare September-quarter results today. Investors will look to HUL for the volume trend and to the auto makers for commentary on demand and input costs. 

Iran War 

Iran’s Security Council chief Mohsen Rezaei met Supreme Leader Ayatollah Mojtaba Khamenei on Tuesday, a day after talks in Tehran with officials from Saudi Arabia, Turkey and Pakistan, the first high-level contact since the war drew Saudi Arabia and Yemen’s Houthis into direct conflict. State media said Khamenei stressed pursuing Iran’s interests and holding to its conditions for ending the war, which include an end to the US blockade of its ports and sanctions on its oil exports. Iran has also ruled out discussing its nuclear programme until its demands are met, so a peace deal is not yet in sight. Meanwhile, the Houthis said they hit the Ras Tanura refinery with a ballistic missile, which Riyadh has not confirmed, raising the risk of a wider conflict eight months after the war began. 

Nifty, Sensex Closing on Tuesday 

The Sensex fell 8.08 points, or 0.01 per cent, to close at 73,598.67 on Tuesday, while the Nifty 50 slipped 3.45 points, or 0.02 per cent, to 22,749.75 in a volatile expiry-day session. Broader markets outperformed, with the Nifty Midcap index up 1 per cent and the Nifty Smallcap index surging 2.7 per cent, as 2,807 shares advanced against 1,334 decliners. Tata Consumer Products, Bharti Airtel and Trent led the Nifty gainers, while Grasim Industries, State Bank of India and Coal India were among the top losers. The Nifty Media index climbed 3.6 per cent, and Realty and Pharma gained about 2 per cent each, while the IT, Oil and Gas, and Private Bank indices slipped around 0.5 per cent each. 

Sources

•  NSE
• BSE
• Oilprice.com,
• CNBC
• corporate filings on exchanges