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Key gauges erase most of losses in late morning deals
Oct-22-2026

Indian equity benchmarks erased most of their initial losses but continued to trade in red in late morning deals, dragged down by selling in FMCG, Energy and Utilities stocks amid a broad sell-off across Asian markets. Besides, elevated crude oil prices and firm US bond yields weighed on investors' sentiment. However, losses remained capped as traders took some support with the Commerce and Industry Ministry's data showing that production in key infrastructure industries rose 7.9% in September, the fastest pace in the new series, driven by strong performance in the iron ore, electricity, and cement segments. On the global front, Asian markets were trading mostly in red despite the broadly positive cues from Wall Street overnight, amid a re-escalation in the Middle East conflict after a deadly attack on a Saudi oil field overnight sent crude oil prices spiking and added to concerns over supply disruptions and global inflationary pressures. 

The BSE Sensex is currently trading at 73543.37, down by 166.32 points or 0.23% after trading in a range of 73005.11 and 73657.52. There were 6 stocks advancing against 24 stocks declining on the index.

The few gaining sectoral indices on the BSE were Realty up by 0.27%, Telecom up by 0.12% and Bankex up by 0.07%, while FMCG down by 1.08%, Energy down by 0.85%, Utilities down by 0.72%, Capital Goods down by 0.68% and Power down by 0.65% were the top losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 0.67%, Kotak Mahindra Bank up by 0.36%, Bajaj Finance up by 0.29%, ICICI Bank up by 0.23% and Larsen & Toubro up by 0.09%. On the flip side, Power Grid down by 2.04%, Bharat Electronics down by 1.78%, Trent down by 1.77%, Asian Paints down by 1.72% and Maruti Suzuki India down by 1.69% were the top losers.

Meanwhile, former RBI Governor D Subbarao has said that maintaining an economic growth of 7 per cent or above will require stronger private investment, labour-intensive manufacturing, better human capital and stronger integration into global value chains.

Moreover, he said the challenge is not simply to sustain high growth, but to make it more productive, employment-intensive and resilient. He stated ‘India's 7.8 per cent growth in the first quarter suggests that the economy is more resilient than many expected... I am optimistic about India's medium-term prospects, but not complacent’.

He said three key factors had supported growth momentum in the first quarter. Domestic consumption has remained resilient; public investment in infrastructure has supported demand and helped crowd in private investment in some sectors; and manufacturing and services, particularly financial, real estate and professional services, have performed well.

The CNX Nifty is currently trading at 22741.30, down by 70.05 points or 0.31% after trading in a range of 22554.85 and 22767.35. There were 9 stocks advancing against 41 stocks declining on the index.

The top gainers on Nifty were Bajaj Auto up by 1.39%, Kotak Mahindra Bank up by 0.85%, Bharti Airtel up by 0.79%, Bajaj Finance up by 0.66% and ICICI Bank up by 0.51%. On the flip side, Nestle India down by 2.74%, Coal India down by 2.55%, Max Healthcare down by 2.22%, Tata Consumer Products down by 2.04% and Power Grid down by 1.88% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 1598.24 points or 2.47% to 63,023.00, Taiwan Weighted lost 741.36 points or 1.58% to 46,146.41, Shanghai Composite weakened 58.41 points or 1.57% to 3,654.62, KOSPI dropped 217.77 points or 3.8% to 5,517.89, Hang Seng declined 727.87 points or 3.08% to 22,924.00 and Straits Times fell 1.75 points or 0.03% to 5,436.24.

On the flip side, Jakarta Composite gained 90.64 points or 1.67% to 5,419.00. 
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