The Indian stock market ended lower on October 23, 2026, with the Sensex falling by 126 points and the NIFTY50 closing at 22,600. This marked the fourth consecutive session of decline as investors reacted cautiously to a sharp rise in crude oil prices, which jumped above $114 per barrel. The surge in oil prices affected key sectors such as FMCG, oil and gas, and consumer durables, contributing to the overall market downturn.
- The Sensex fell by 126 points on October 23, 2026.
- The NIFTY50 index closed at 22,600 points.
- Crude oil prices rose above $114 per barrel, impacting market sentiment.
- Shriram Finance was the biggest laggard, dropping 3.98%.
- 36 stocks on the NIFTY50 closed lower, while 14 advanced.
- Foreign institutional investors sold shares worth ₹3,458.70 crore.
- Domestic institutional investors bought shares worth ₹2,891.32 crore.
Why did the Indian stock market decline on October 23?
The market decline was mainly due to rising crude oil prices, which increased costs for many companies and raised concerns about inflation. The price of crude oil jumped over $114 per barrel, causing investors to become cautious. Additionally, declines in FMCG, oil and gas, and consumer durable stocks weighed heavily on the benchmark indices. These sectors are sensitive to changes in raw material costs and consumer demand, so their poor performance contributed to the overall market drop.
Which stocks were the biggest losers and gainers on the NIFTY50?
Shriram Finance was the biggest loser on the day, falling by 3.98%. Other notable decliners included Adani Enterprises (-2.86%), JSW Steel (-2.83%), Jio Financial Services (-2.74%), and Tata Steel (-2.7%). On the other hand, some stocks managed to gain despite the overall market weakness. Eternal rose by 4.25%, Apollo Hospitals increased by 1.65%, ONGC went up by 1.11%, Asian Paints gained 0.97%, and TCS improved by 0.92%.
How did foreign and domestic investors behave during the session?
According to exchange data, foreign institutional investors (FIIs) sold shares worth ₹3,458.70 crore on October 22, reflecting a cautious stance amid market volatility. Meanwhile, domestic institutional investors (DIIs) bought shares worth ₹2,891.32 crore, showing some confidence in the market despite the decline. This mixed activity indicates that while foreign investors were reducing exposure, domestic investors saw potential value in the market.
What was the global market trend on the same day?
Globally, Asian stock markets showed mixed results. Japan's Nikkei index fell by 0.51%, signaling some weakness. However, Singapore's Straits Times rose slightly by 0.13%, Hong Kong's Hang Seng gained 0.73%, and China's Shanghai Composite increased by 0.88%. These gains were supported by a halt in the sell-off of technology and artificial intelligence stocks, which had previously caused market concerns.
What impact did US policy have on oil prices?
The rise in oil prices followed a decision by US President Donald Trump, who declared petroleum production and refining essential to national defense. This policy move opened the door for more fossil fuel projects in the United States, affecting global oil supply expectations and contributing to price volatility. The announcement influenced investor sentiment worldwide, including in India, where the stock market reacted negatively to the higher oil prices.
