Sensex drops 691 points as crude rises and foreign investors keep selling
India's Sensex opened down 0.94% and the Nifty slipped below 22,600 as higher crude prices and foreign portfolio outflows weighed on shares, Moody's reported.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
According to Moody's, Indian equity markets opened sharply lower on Wednesday. The Sensex fell almost 700 points to 72,907.65, and the Nifty 50 dropped below 22,600. Market experts blamed rising crude prices and persistent selling by foreign portfolio investors, while traders also weighed geopolitical risks and the upcoming Federal Reserve policy meeting.
Brent traded at 115.39 dollars a barrel, up 1.32%. Analysts at Geojit and Axis Direct said the market had turned decisively weak and that a recovery would depend on crude easing and foreign investors turning into buyers. IT stocks led the decline, with Infosys down 4.34% and the Nifty IT index losing 3.77%, while Larsen & Toubro gained 5.73%.
why it matters
For India, higher oil means costlier imports and more pressure on the external accounts, so energy prices remain the key driver for local shares. Capital outflows and talk of changes to long-term capital gains tax add further pressure.
market impact
Indian shares: costlier oil and capital outflows pressure the Sensex and Nifty
- Indian equities (Sensex, Nifty) pressure down — rising crude prices and foreign investor selling weigh on the indexes
- Brent pressure up — reports of possible new US strikes on Iran support oil prices
instruments
sources
- Sensex sheds 691 points, Nifty falls below 22,600 on rising crude prices, FPI concerns — Moody's, 28 October 2026 at 04:51 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗