Sensex Ends 252 Points Lower, Nifty at 22,623, as Crude Oil and Foreign Selling Weigh

Indian equity benchmarks ended lower on Wednesday, 14 October, giving back a small part of the previous session’s gains. The BSE Sensex closed 251.89 points, or 0.34 per cent, lower at 72,781.89, and the NSE Nifty 50 fell 99.25 points, or 0.44 per cent, to 22,622.70, according to both HDFC Sky and Business Standard. Both indices had risen about 1.6 per cent on Tuesday, led by information technology stocks, HDFC Sky said.

The broader market was also weaker. Business Standard reported that the Nifty Midcap 100 index slipped 0.08 per cent and the Nifty Smallcap 100 fell 0.32 per cent. HDFC Sky said 2,351 stocks advanced on the BSE while 1,694 declined and 129 were unchanged.

Information technology shares extended their recovery. Business Standard said the Nifty IT index and the Nifty FMCG index each gained more than 1 per cent, and that Infosys, Tech Mahindra, TCS, Hindustan Unilever, NTPC and Reliance Industries were among the Sensex gainers. HDFC Sky noted that the Nifty IT index had risen 5.2 per cent on Tuesday. Energy, oil and gas, and media shares also ended higher, it added.

Pharma was the weakest sector, with the Nifty Pharma index down about 1.3 per cent and Sun Pharma touching a five-month low, Business Standard reported. Auto, metal, realty and private bank shares also fell. Among Sensex constituents, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, Eternal and ICICI Bank were the main laggards. Business Standard linked the pressure on autos, private banks and metals to a higher-than-expected wholesale price inflation reading, which pushed up bond yields.

Crude oil and foreign flows remained in focus. HDFC Sky reported that Brent crude rose towards $107 a barrel amid Middle East tensions, which it said could raise India’s import bill and complicate the inflation outlook. According to the same report, foreign institutional investors sold shares worth ₹1,305 crore on Tuesday, extending their selling streak to 13 consecutive sessions, with year-to-date outflows reaching a record $32.52 billion. Domestic institutional investors bought shares worth ₹2,439 crore, it said.

Several individual stocks moved on company news. Tata Elxsi rose 5.7 per cent after reporting higher quarterly profit, and Bharat Coking Coal gained 5.3 per cent after raising prices for certain grades of coking coal sold to the non-regulated sector, HDFC Sky said. Zydus Lifesciences fell 0.7 per cent after a US regulator concluded an inspection of its Ahmedabad plant with five observations.

Business Standard added that the rupee appreciated after the Reserve Bank of India’s foreign exchange measures and that traders were cautious ahead of US inflation data. Investors are also tracking September-quarter earnings, crude oil prices and foreign fund flows, HDFC Sky said. This report is for information only and does not constitute investment advice.