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Indian stocks open lower on IT selloff as Brent tops $115

Sensex and Nifty 50 opened sharply lower on a tech-stock selloff, while Brent rose above $115 after an attack on a Saudi refinery, per Moody's.

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what happened

Indian equity benchmarks opened lower on Wednesday, October 28, with the Sensex down 0.91% and the Nifty 50 down 0.69% early in the session. The drop was led by a broad retreat in information technology shares, even though Asian markets traded higher and the Nasdaq Composite had gained 1.18% overnight. Infosys fell 4.53%, Tech Mahindra slipped 3.88% and HCL Technologies lost 3.82%.

Brent crude rose 1.5% after an attack on a Saudi Arabian refinery revived concerns about supply. WTI traded near $100–101 a barrel. Investors are also waiting for the US Federal Reserve's rate decision, which is widely expected to keep the benchmark range at 3.75%–4.00%, and for the market debut of Jio Platforms.

why it matters

Two factors matter here. Higher oil raises inflation risks for India and weighs on its external balance, while the rupee closed at 95.11 per dollar. The Fed's signals and quarterly results from large companies could set the direction for trading. Foreign investor outflows from Indian equities this year are estimated at $31 billion.

market impact

Indian stocks: pressure from the IT sector and higher oil; Brent: support from supply disruption concerns

  • Indian equities (Nifty 50) pressure down — IT share selloff and higher oil weigh on the indexes
  • Brent pressure up — the Saudi refinery attack revived supply concerns
  • Indian rupee pressure down — expensive oil worsens India's external balance

tags

Futures

instruments

Nifty 50SensexBrentWTIInfosysUSD/INR

sources

  1. IT stocks drag Sensex, Nifty lower at open; Jio Platforms debut, Fed decision in focus — Moody's, 28 October 2026 at 04:34 UTC

prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.

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