Indian Stock Market Today |Indian benchmark indices ended lower on Wednesday, 28 October 2026, as heavy selling pressure in Information Technology and Energy stocks weighed on market sentiment. However, strong buying interest in Auto, Pharma, Consumer Durables and select banking stocks helped the market recover from its intraday lows.

The Nifty 50 declined 50.90 points, or 0.22%, to close at 22,698.85, while the Sensex dropped 352.64 points, or 0.48%, to settle at 73,246.03. In contrast, Bank Nifty outperformed the broader benchmarks, advancing 292.50 points, or 0.54%, to 54,267.40.

Auto (+1.45%), Consumer Durables (+1.41%) and Pharma (+1.04%) emerged as the strongest-performing sectors in the supplied heatmap, while Financial Services (+0.47%) also recorded gains. IT (-1.98%) witnessed the steepest decline, followed by Energy and Realty, both falling 0.89%.

Apollo Hospitals, Larsen & Toubro and Trent led the gains in the supplied stock snapshot, while Infosys, Reliance Industries and ONGC emerged as the major losers.

Investor sentiment remained cautious amid elevated international crude oil prices, continued geopolitical uncertainty in the Middle East and anticipation surrounding the US Federal Reserve's monetary policy decision. Brent crude remained near $115 per barrel, raising concerns about inflation, India's import costs and corporate profitability.

Despite weakness in the benchmark indices, the broader market demonstrated resilience, with the Nifty Midcap index gaining approximately 0.4% and the Smallcap index advancing around 0.9%.

At the Closing Bell:

• Nifty 50: 22,698.85, down 50.90 points (-0.22%)
• BSE Sensex: 73,246.03, down 352.64 points (-0.48%)
• Bank Nifty: 54,267.40, up 292.50 points (+0.54%)

Why Did the Indian Stock Market Decline Today?

IT Sector Emerges as the Biggest Loser

The IT sector declined 1.98%, emerging as the weakest-performing sector in the supplied heatmap.

Heavy selling pressure in major technology stocks weighed on benchmark indices as investors assessed global economic uncertainty, corporate earnings expectations and the outlook for international technology spending.

Infosys emerged as the biggest loser in the supplied stock snapshot, falling 3.43% to ₹1,123.15, a decline of ₹39.85.

Other technology companies, including TCS, HCL Technologies and Tech Mahindra, also faced selling pressure during the session.

Investor caution ahead of the US Federal Reserve's monetary policy decision added to uncertainty surrounding interest rates and demand conditions in important overseas markets.

The broad-based decline in IT stocks significantly restricted the Nifty's recovery despite positive performance in several domestic-oriented sectors.

Energy Sector Faces Selling Pressure Amid Elevated Crude Prices

The Energy sector declined 0.89%, reversing the previous session's positive momentum.

Reliance Industries emerged among the major laggards, falling 3.19% to ₹1,158.00, a decline of ₹38.20.

ONGC also witnessed selling pressure, declining 2.16% to ₹224.89.

International crude oil prices remained elevated near $115 per barrel amid geopolitical tensions and concerns over potential supply disruptions following an attack on a Saudi Arabian refinery.

Higher crude oil prices raised concerns about India's import bill, inflation and corporate profit margins.

The decline in heavyweight energy stocks contributed significantly to weakness in benchmark indices, particularly the Sensex.

The sector's underperformance highlighted investor caution toward energy-related businesses amid continued volatility in international commodity markets.

Auto Sector Emerges as the Strongest Performer

The Auto sector advanced 1.45%, emerging as the best-performing sector in the supplied heatmap.

Automobile stocks attracted buying interest despite weakness in the broader market, reflecting selective investor confidence in domestic demand and company-specific developments.

The sector maintained positive momentum after recording strong gains in the previous session.

Buying interest in automobile manufacturers and auto-related companies helped offset losses in IT and Energy stocks.

The sector's resilience indicated that investors continued to favour selected domestic consumption-oriented businesses despite global uncertainty and elevated crude oil prices.

Consumer Durables Sector Records Strong Gains

Consumer Durables gained 1.41%, emerging as the second-best-performing sector during Wednesday's session.

Buying interest in consumer-focused companies supported the sector even as the benchmark indices closed lower.

The positive performance reflected selective participation in businesses linked to domestic discretionary spending and consumer demand.

The sector's gains also indicated that selling pressure remained concentrated in specific heavyweight sectors rather than spreading uniformly across the market.

Consumer Durables contributed to the broader market's resilience and helped limit the overall decline in benchmark indices.

Pharma Sector Witnesses Continued Buying Interest

The Pharma sector gained 1.04%, extending its positive momentum from the previous trading session.

Pharmaceutical and healthcare stocks attracted buying interest as investors continued to focus on earnings performance and relatively defensive business segments.

Apollo Hospitals emerged as the leading gainer in the supplied stock snapshot, advancing 4.43% to ₹8,137.00, a gain of ₹345.50.

The stock's strong performance reflected substantial buying interest in the healthcare segment and contributed to the sector's positive momentum.

Pharma's resilience helped offset weakness in technology and energy companies.

The sector's gains highlighted selective demand for healthcare-related stocks during a session marked by cautious overall sentiment.

Financial Services Recovers as Bank Nifty Outperforms

Financial Services advanced 0.47%, recovering from the previous session's weakness.

Bank Nifty gained 292.50 points, or 0.54%, to close at 54,267.40, significantly outperforming the Nifty 50 and Sensex.

Buying interest in select banking and financial stocks helped support the broader market despite selling pressure in heavyweight IT and Energy companies.

The positive performance marked an improvement from Tuesday, when Bank Nifty had declined 0.72%.

The divergence between Bank Nifty and the benchmark indices highlighted the selective nature of Wednesday's market weakness.

Financial stocks provided important support and helped prevent a deeper decline in the broader indices.

FMCG Sector Witnesses Profit Booking

The FMCG sector declined 0.56%, reversing the previous session's positive performance.

Selling pressure in select consumer staples companies weighed on sectoral performance as investors reassessed valuations and recent gains.

The decline came after FMCG had advanced 0.74% in the previous trading session.

The sector's weakness reflected selective profit booking amid cautious investor sentiment.

Despite its generally defensive business characteristics, FMCG failed to attract sufficient buying interest to remain positive during Wednesday's session.

Realty Sector Declines After Previous Session's Rally

The Realty sector declined 0.89%, giving up part of the gains recorded during Tuesday's strong performance.

The sector had previously advanced 1.94%, making it one of the strongest performers in the preceding session.

Profit booking and concerns surrounding interest rates and borrowing costs contributed to cautious sentiment toward real estate stocks.

Uncertainty ahead of the Federal Reserve's policy decision remained an important consideration for interest-rate-sensitive sectors.

The decline indicated that investors were selectively reducing exposure following the previous session's rally.

Metal Sector Records Moderate Losses

The Metal sector declined 0.32%, reflecting relatively moderate weakness compared with IT and Energy.

Metal stocks remained under pressure as investors evaluated global demand conditions, commodity prices and broader economic uncertainty.

The sector's decline followed a 0.64% gain in the previous session.

Although the sector ended lower, its relatively limited losses suggested that selling pressure was less intense than in heavyweight technology and energy stocks.

The mixed performance highlighted selective investor participation across commodity-linked companies.

Market Overview – Sector & Stock Action Summary

Indian equity markets ended lower on Wednesday, 28 October 2026, with the Nifty declining 0.22% to 22,698.85 and the Sensex falling 0.48% to 73,246.03. Bank Nifty outperformed, gaining 0.54%.

Buying interest was particularly visible in Auto (+1.45%), Consumer Durables (+1.41%) and Pharma (+1.04%), while Financial Services (+0.47%) also recorded positive performance.

IT (-1.98%) emerged as the weakest sector, followed by Energy (-0.89%), Realty (-0.89%), FMCG (-0.56%) and Metal (-0.32%).

At the stock level, Apollo Hospitals, Larsen & Toubro and Trent emerged as the leading gainers in the supplied snapshot, while Infosys, Reliance Industries and ONGC recorded the steepest declines among the stocks shown.

The session reflected significant sectoral divergence, with selling pressure concentrated in technology and energy heavyweights while domestic-oriented sectors displayed resilience.

Larsen & Toubro attracted buying interest following strong quarterly earnings, with the company reporting approximately 33% growth in consolidated net profit for the September quarter. Its performance helped support market sentiment despite weakness in the benchmark indices.

Broader markets outperformed, with midcap and smallcap indices recording gains even as the Nifty and Sensex closed in negative territory.

Overall, Wednesday's market action indicated cautious investor sentiment rather than uniform selling across the market. Elevated crude prices, geopolitical uncertainty and the upcoming US Federal Reserve decision remained key factors influencing market direction.

Key Sector Performance Snapshot

• Auto (+1.45%): Emerged as the strongest-performing sector, supported by buying interest in automobile and auto-related stocks.
• Consumer Durables (+1.41%): Recorded healthy gains amid selective buying in consumer-focused companies.
• Pharma (+1.04%): Continued its positive momentum, supported by strength in healthcare stocks, including Apollo Hospitals.
• Financial Services (+0.47%): Recovered from the previous session's weakness, with Bank Nifty advancing 0.54%.
• Metal (-0.32%): Recorded moderate losses amid cautious sentiment toward commodity-linked companies.
• FMCG (-0.56%): Declined as selective profit booking followed the previous session's gains.
• Energy (-0.89%): Witnessed selling pressure in heavyweight stocks, including Reliance Industries and ONGC.
• Realty (-0.89%): Declined after strong gains in the preceding session amid profit booking and interest-rate uncertainty.
• IT (-1.98%): Emerged as the weakest-performing sector, pressured by selling in Infosys and other major technology stocks.

Overall, Auto, Consumer Durables and Pharma led sectoral gains on 28 October 2026, while IT and Energy remained the major drags on benchmark indices.

Top Gainers

- APOLLOHOSP: +4.43% → Apollo Hospitals emerged as the leading gainer in the supplied stock snapshot, rising ₹345.50 to ₹8,137.00. The stock attracted strong buying interest, supported by positive momentum in the healthcare segment. Its performance coincided with a 1.04% rise in the Pharma sector, highlighting continued investor interest in healthcare-related companies.

- LT: +3.72% → Larsen & Toubro advanced ₹136.20 to ₹3,801.30, supported by strong quarterly earnings. The company reported approximately 32.5% year-on-year growth in consolidated net profit to ₹5,202 crore for the September 2026 quarter. The robust earnings performance strengthened investor confidence and helped the stock outperform the broader market.

- TRENT: +3.31% → Trent gained ₹93.30 to ₹2,913.90, emerging as one of the strongest-performing stocks in the supplied snapshot. The stock witnessed buying interest despite weakness in the benchmark indices. Its positive performance reflected selective investor interest in retail and consumer discretionary businesses during the session.

Top Losers

- INFY: -3.43% → Infosys emerged as the biggest loser in the supplied stock snapshot, declining ₹39.85 to ₹1,123.15. The stock faced substantial selling pressure amid broad-based weakness in IT companies. Concerns regarding global technology spending, earnings expectations and uncertainty ahead of the Federal Reserve's policy decision weighed on investor sentiment. The IT sector declined 1.98%, making it the weakest-performing sector.

- RELIANCE: -3.19% → Reliance Industries declined ₹38.20 to ₹1,158.00, emerging as one of the major drags on benchmark indices. Selling pressure in the heavyweight stock coincided with weakness in the Energy sector, which fell 0.89%. Elevated crude prices, geopolitical uncertainty and cautious investor sentiment contributed to pressure on energy-related stocks.

- ONGC: -2.16% → ONGC declined ₹4.96 to ₹224.89, reflecting weakness in the oil and gas segment. The stock remained under selling pressure despite elevated international crude oil prices. Its decline highlighted cautious investor sentiment toward energy stocks amid geopolitical uncertainty and concerns surrounding broader market conditions.

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 71 points lower at 22,678 reached a high of 22,778 and closed at 22,698.

• Immediate Support: 22,600
• Immediate Resistance: 22,800

BANK NIFTY: Opened 181 points lower at 53,793, reached a high of 53,974 and closed at 54,267.

• Immediate Support: 54,000
• Immediate Resistance: 54,500

World Markets, Crude & Gold Prices – 28 October 2026

Global Equities

Global equity markets traded largely positive on Wednesday, 28 October 2026, supported by strong buying interest in artificial intelligence and semiconductor stocks. Asian markets recorded significant gains following a technology-led rally on Wall Street, while European equities witnessed mixed movements as investors assessed corporate earnings and awaited the US Federal Reserve's monetary policy decision.

Asian markets advanced strongly, led by South Korea and Japan. South Korea's Kospi surged approximately 5.6%, supported by strong gains in semiconductor companies following encouraging quarterly earnings. SK Hynix gained around 7% after reporting record operating profits, while Samsung Electronics advanced approximately 8.5%. Japan's Nikkei rose around 1.3%, supported by technology and semiconductor stocks, while Taiwan's Taiex gained approximately 1.8%. However, Hong Kong's Hang Seng declined around 0.7%, reflecting continued divergence across regional markets.

European equities traded cautiously on Wednesday as investors monitored corporate earnings, inflation risks and upcoming central bank announcements. In the previous session, Germany's DAX had advanced 0.71%, while France's CAC 40 gained 0.51%. The broader Stoxx Europe 600 rose approximately 0.47%, although the UK's FTSE 100 declined 0.75%. The mixed performance highlighted selective buying interest alongside concerns surrounding elevated energy prices and global economic uncertainty.

In the U.S., Wall Street ended higher on Tuesday, 27 October, as artificial intelligence and technology stocks continued to attract buying interest. The Nasdaq Composite surged 1.18%, while the S&P 500 advanced 0.60%. The Dow Jones Industrial Average gained a modest 0.03%. Technology companies led the rally amid optimism surrounding artificial intelligence investments and upcoming corporate earnings. However, investors remained cautious ahead of the Federal Reserve's monetary policy decision and earnings announcements from major technology companies.

Market participants remained focused on:

• Federal Reserve interest-rate decisions and future monetary policy guidance
• Quarterly earnings from Alphabet, Microsoft and other major technology companies
• Artificial intelligence investments and semiconductor-sector performance
• Middle East geopolitical tensions and global energy supply disruptions
• Elevated international crude oil prices and inflation expectations
• U.S. Treasury yields, dollar movements and global economic growth

Overall, global market sentiment remained cautiously positive as strong gains in Asian semiconductor stocks and Wall Street's technology-led rally supported investor confidence. However, elevated crude oil prices, geopolitical uncertainty and the upcoming Federal Reserve announcement continued to influence risk appetite across international markets.

Crude Oil

BRENT CRUDE (USD/BBL)

Latest supplied market snapshot – 28 October 2026

BRENT CRUDE

$116.473

+$1.501 (+1.31%)

Brent crude traded around $116.47 per barrel, advancing 1.31% in the latest supplied market snapshot.

Oil prices rebounded on Wednesday as investors continued to assess geopolitical developments in the Middle East and potential risks to global energy supplies. Renewed concerns over regional tensions and possible disruptions to oil production and shipping routes supported crude prices despite recent efforts toward diplomatic de-escalation.

The latest increase reversed the previous session's decline, pushing Brent crude back above $116 per barrel. The rebound highlighted continued uncertainty surrounding global oil supplies and the sensitivity of energy markets to developments in the Middle East.

Geopolitical risks remained a major influence on oil prices, particularly concerns surrounding the Strait of Hormuz, a crucial shipping route for global energy supplies. Any disruption to oil transportation through the region could tighten international supply conditions and increase volatility in crude prices.

Meanwhile, investors continued to monitor OPEC+ production policies, U.S. crude inventory developments and global demand expectations. These factors remained important in determining whether elevated prices could be sustained.

For India, rising crude oil prices remain a significant concern. As one of the world's largest oil-importing countries, India faces increased pressure from higher import costs, inflation risks, a potentially widening trade deficit and possible weakness in the rupee.

Higher crude prices can also affect corporate profitability, particularly in aviation, transportation, paints, chemicals, logistics and other fuel-intensive industries.

Oil prices will continue to track:

• Middle East tensions and Strait of Hormuz shipping risks
• Potential disruptions to Gulf oil production and exports
• Diplomatic developments involving the U.S. and Iran
• OPEC+ production decisions and global supply conditions
• U.S. crude inventories and international oil demand
• Federal Reserve policy decisions and global inflation expectations

Overall, Brent crude advanced 1.31% to approximately $116.47 per barrel in the supplied snapshot, reflecting renewed buying interest amid persistent geopolitical and supply-related concerns. The recovery above $116 indicated that uncertainty surrounding global oil supplies continued to support prices, although diplomatic developments and demand expectations could influence volatility in the coming sessions.

Gold Prices

GOLD SPOT – XAU/USD (USD/OZ)

Latest supplied market snapshot – 28 October 2026

GOLD SPOT – XAU/USD

$4,045.53

−$14.64 (−0.36%)

Gold traded around $4,045.53 per ounce, declining 0.36% in the latest supplied market snapshot.

Gold prices moved lower on Wednesday as strong gains in global equity markets reduced immediate demand for traditional safe-haven assets. A technology-led rally on Wall Street, followed by significant advances in Asian semiconductor stocks, encouraged selective risk-taking among investors.

Despite the decline, gold continued to trade comfortably above the psychologically important $4,000-per-ounce level, indicating that underlying demand remained supported by geopolitical uncertainty and cautious expectations surrounding global monetary policy.

The latest weakness came as investors positioned themselves ahead of the U.S. Federal Reserve's monetary policy announcement. Markets broadly expected the central bank to maintain interest rates, although investors remained focused on the accompanying policy statement and signals regarding the future direction of borrowing costs.

Elevated U.S. Treasury yields remained an important consideration for precious metals. Higher bond yields can increase the opportunity cost of holding non-yielding assets such as gold, potentially limiting buying interest.

Meanwhile, ongoing geopolitical tensions in the Middle East continued to provide underlying support for safe-haven assets. Elevated crude oil prices also raised inflation concerns, creating competing influences on gold through inflation expectations, interest rates and investor risk appetite.

Gold prices remained sensitive to movements in the U.S. dollar, Treasury yields and expectations surrounding future monetary policy decisions.

Gold prices will continue to track:

• Federal Reserve interest-rate decisions and future policy guidance
• U.S. inflation, employment and economic growth indicators
• Treasury yields and U.S. dollar movements
• Middle East geopolitical tensions and safe-haven demand
• Global equity market sentiment and investor risk appetite
• Central bank gold purchases and investment flows into gold ETFs

Overall, gold declined 0.36% to approximately $4,045.53 per ounce in the supplied snapshot, reflecting mild selling pressure amid improved global equity sentiment and caution ahead of the Federal Reserve's policy decision. However, continued trading above the $4,000 level suggested that geopolitical uncertainty, inflation concerns and monetary policy expectations remained important factors influencing precious metal prices.

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