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Key gauges slip into red in late morning deals
Oct-23-2026

Indian equity benchmarks erased their opening gains and came under heavy selling pressure in late morning deals, with sentiment weighed down by a surge in Brent crude oil futures to $114 a barrel amid concerns over further energy supply disruptions following Houthi attacks on top oil exporter Saudi Arabia. Traders remained cautious as exchange data showed Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,458.70 crore on a net basis on Thursday. Traders paid no heed towards a preliminary survey showed India's business activity expanded at its fastest pace in four months in October as stronger orders drove a services-led pickup, but hiring almost stalled as companies met rising workloads with existing staff. HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 56.7 this month from September's final 55.9. 

Both the indices slipped sharply into the red, with Nifty the underperforming the Sensex. The Sensex was losing 0.75%, while the Nifty was down over 1%, amid broad-based selling in heavyweight stocks. Among sectors, except IT, all other indices were trading lower with Capital Goods, Power and Utilities down over 3%. On the global front, Asian markets were trading mostly in red following the mixed cues from Wall Street overnight, on a renewed spike in crude oil prices amid the re-escalation of tensions in the Middle East. 

The BSE Sensex is currently trading at 72700.77, down by 548.62 points or 0.75% after trading in a range of 72487.47 and 73766.51. There were 5 stocks advancing against 25 stocks declining on the index.

The lone gaining sectoral index on the BSE was IT up by 0.18%, while Capital Goods down by 3.73%, Power down by 3.59%, Utilities down by 3.24%, Industrials down by 3.21% and Metal down by 3.08% were the top losing indices on BSE.

The top gainers on the Sensex were TCS up by 2.10%, Larsen & Toubro up by 0.47%, HCL Technologies up by 0.41%, Infosys up by 0.41% and Eternal up by 0.08%. On the flip side, Tata Steel down by 3.53%, Titan Company down by 2.54%, Bharat Electronics down by 2.52%, Adani Ports &SEZ down by 2.50% and NTPC down by 2.42% were the top losers.

Meanwhile, seeking a major boost in economic ties, Union Commerce and Industry Minister Piyush Goyal has called for India-Germany bilateral trade to rise from around 31.5 billion euros to 310 billion euros, underlining the need for deeper industrial collaboration, investment and technology partnerships.

He noted that the two countries could leverage their respective strengths to enhance supply chain and create new economic opportunities amid global uncertainty. Outlining the areas that could drive bilateral cooperation, he said ‘Germany's precision engineering, your Mittelstand's commitment to quality with Indian infrastructure, our desire to upgrade Indian infrastructure, our digital capabilities, our youthful, skilled, and talented people.’

He said the proposed 310-billion-euro trade ambition would require businesses on both countries to identify key sectors, assess comparative advantages and develop concrete plans. He did not specify a timeline for achieving the target, leaving it to businesses to determine the roadmap.

The CNX Nifty is currently trading at 22434.80, down by 252.85 points or 1.11% after trading in a range of 22407.05 and 22787.25. There were 4 stocks advancing against 46 stocks declining on the index.

The top gainers on Nifty were TCS up by 1.51%, Infosys up by 0.39%, HCL Technologies up by 0.25% and Max Healthcare up by 0.09%. On the flip side, Tata Steel down by 4.04%, Hindalco Industries down by 3.52%, Adani Enterprises down by 2.93%, JIO Financial Services down by 2.77% and Tata Motors Passenger down by 2.70% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 slipped 377.84 points or 0.6% to 62,530.00, Shanghai Composite weakened 13.16 points or 0.36% to 3,644.87, KOSPI dropped 27.45 points or 0.5% to 5,506.32 and Straits Times fell 3.84 points or 0.07% to 5,411.30.

On the flip side, Jakarta Composite gained 58.83 points or 1.08% to 5,446.74 and Hang Seng advanced 170.32 points or 0.74% to 23,105.00. Meanwhile, Taiwanese market remained closed on account of holiday.
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