Indian Markets Fall For Third Straight Day As Oil Tops $112
What Happened
Indian equities closed lower for the third consecutive session on October 22. The Sensex fell 460.30 points, or 0.62%, to 73,249.39, while the Nifty 50 declined 123.70 points, or 0.54%, to 22,687.65. Selling was broader outside the benchmarks, with the Nifty Midcap 100 down 0.87% and Nifty Smallcap 100 down about 1.1%. Thirteen of 16 major sectors ended lower. Brent crude climbed to around $112 per barrel, adding to inflation and corporate-margin concerns. Reliance Industries fell about 2% and HDFC Bank about 1.8%.
Key Takeaways
Rising crude oil prices remained the biggest pressure on Indian equities, extending the market’s losing streak to three sessions as broader markets also weakened.