Sensex Drops Nearly 500 Points, Nifty Slips Below 22,500
What Happened
Indian equities opened lower on October 26. The Sensex opened 133.79 points lower at 72,990.04, while the Nifty 50 started 75.60 points down at 22,524.40. Selling quickly intensified, with the Sensex down about 488 points and Nifty at 22,458 by 9:22 am. Elevated crude prices remained a key concern, with Brent crude around $115 a barrel. Investors are also watching the upcoming US Federal Reserve policy decision, while Infosys fell over 3% after cutting its annual revenue-growth forecast.
Key Takeaways
Indian markets have started the week under pressure, with high crude prices, weak global cues and IT-sector selling outweighing Friday’s return of foreign institutional buying.