Sensex and Nifty fall over 1% as private banks, IT stocks drag markets

Sensex, Nifty, Share Prices : Markets closed over 1 per cent lower on Monday as losses in private banks and IT stocks overwhelmed gains in metals and public-sector lenders.

Mumbai (Maharashtra) [India], October 19 (ANI): The domestic stock markets closed sharply lower on Monday as weakness in private bank stocks, disappointing corporate earnings and rising crude oil prices weighed on investor sentiment.The Nifty 50 index closed at 22,888.95, declining 257.20 points or 1.11 per cent. The BSE Sensex fell 876.37 points or 1.17 per cent to settle at 73,852.90.Selling pressure wa

Private banks drag benchmarks as crude prices and weak global cues weigh on sentiment, while PSU banks buck the trend

The 30-share BSE Sensex tumbled 876.37 points, or 1.17%, to settle at 73,852.90, while during the day, it crashed 1,020.73 points, or 1.36%, to 73,708.54

Mumbai: Indian stock markets witnessed a sharp selloff on Monday, with the Sensex plunging 876.38 points, or 1.17 percent, to 73,852.90, while the Nifty 50 dropped 257.20 points, or 1.11 percent, to 22,888.95.Heavy selling in banking stocks, weak global markets, elevated crude oil prices and rising volatility dragged benchmark indices lower.Nearly Rs 5 Lakh Crore Wiped OutThe market crash erased nearly Rs 5 lakh crore of investor wealth during Monday's session.The combined market capitalisation of BSE-listed companies fell from Rs 473.47 lakh crore on Friday to Rs 468.50 lakh crore by 2:22 pm on Monday.This represents a loss of approximately Rs 4.97 lakh crore, or 1.05 per cent, based on afternoon market data.HDFC Bank Leads Banking SelloffBanking stocks came under pressure, with HDFC Bank falling nearly 2 per cent following its second-quarter results.Investors remained concerned about pressure on net interest margins and slower earnings growth. Share Market Today: Sensex Gains 120 Points, Nifty Opens At 23,150 As FIIs Turn Buyers After 15 Sessions Of SellingDespite several brokerages maintaining positive views on the lender, banking stocks witnessed selling pressure. Bank Nifty declined around 0.5 per cent.Weak Global Markets Hurt SentimentNegative global cues added to domestic market weakness.Asian markets traded lower amid concerns over rising investments in artificial intelligence and pressure on technology stocks.The MSCI Asian equity index declined 0.5 percent.US markets had also ended Friday lower, with the Nasdaq falling 2.19 percent, S&P 500 declining 1.22 percent and Dow Jones slipping 0.55 per cent.Crude Oil Remains ExpensiveBrent crude declined 1.5 percent to USD 108.27 per barrel, while WTI slipped 0.6 per cent to USD 100.83. Orient Cables Makes Strong Market Debut, Shares List At Nearly 65% Premium Over IPO PriceHowever, elevated oil prices continued to worry investors amid geopolitical tensions and uncertainty over global supplies.India VIX Signals NervousnessIndia VIX, which measures expected market volatility, climbed nearly 4 per cent to 14.52.Geojit Investments' Chief Market Strategist Anand James said the Nifty's recent move above its 20-day simple moving average indicated potential strength.However, he cautioned that some correction was possible after the recent rally.According to James, the Nifty could still move towards 23,600 if it avoids falling significantly below 22,780.The Sensex touched an intraday low of 73,708.54, while the Nifty hit 22,845 before recovering slightly towards the close.

Sensex Nifty end in red as private banks IT stocks drag markets

Private lenders dragged the benchmarks lower after their Q2 earnings, while weak global cues and costly crude added to the pressure; the India VIX rose over 5%.

Mumbai: Indian stock markets witnessed a sharp selloff on Monday, October 19, with the Sensex and Nifty falling to their day's lows as selling pressure intensified across banking and other major stocks.At 1:30 PM, the BSE Sensex stood at 73,771.80, down 957.48 points or 1.28 percent. The NSE Nifty 50 declined 271.70 points or 1.17 percent to 22,874.45. The Sensex touched an intraday low of 73,771.06, while the Nifty slipped to 22,861.05.HDFC Bank Shares Under PressureBanking stocks were among the major contributors to the market decline.HDFC Bank shares fell nearly 2 percent following its Q2 FY27 financial results, emerging among the top Nifty 50 losers.Investors remained concerned about pressure on net interest margins (NIM) and slower earnings growth. Share Market Today: Sensex Gains 120 Points, Nifty Opens At 23,150 As FIIs Turn Buyers After 15 Sessions Of SellingDespite several brokerages maintaining positive views on the stock, banking shares weakened. Bank Nifty declined around 0.5 percent.Weak Global Market SignalsNegative global cues added to selling pressure.Asian markets traded lower amid concerns over heavy investments in artificial intelligence and their financing.The MSCI Asia-Pacific index declined 0.5 percent.Wall Street also ended Friday lower, with the Nasdaq falling 2.19 percent, S&P 500 declining 1.22 percent and Dow Jones losing 0.55 percent.Elevated Crude Oil PricesCrude oil prices remained another concern for investors.Brent crude declined 1.5 percent to USD 108.27 per barrel, while WTI crude slipped 0.6 percent to USD 100.83. Sensex Gains 211 Points, IT Buying Supports Markets Despite Global Sell-OffDespite the decline, elevated oil prices and geopolitical tensions continued to create uncertainty.India VIX Jumps 4 percentIndia VIX, which measures expected market volatility, increased nearly 4 percent to 14.52.The rise indicated growing nervousness among investors about further market fluctuations.

Private lenders dragged the benchmarks lower after their Q2 earnings, while weak global cues and costly crude added to the pressure; the India VIX rose over 5%.

Mumbai: Indian stock markets began Monday's trading session on a largely flat note as investors remained cautious amid mixed global market trends, rising geopolitical tensions and fluctuations in crude oil prices.The BSE Sensex opened at 74,849.30, gaining 120.03 points or 0.16 per cent. Meanwhile, the NSE Nifty 50 started at 23,150.85, rising marginally by 4.70 points or 0.02 per cent.Bulls Dominate D-Street Ahead Of Weekend As Sensex Rises 414 Points, Nifty Tops 23,100 And Tech Mahindra Surges 8.45% PSU Banks Lead Gains, IT Stocks Face PressureAmong sectoral indices, Nifty PSU Bank emerged as the top performer, climbing more than 1 per cent. Nifty Oil & Gas also witnessed buying interest, advancing around 0.6 per cent.However, Nifty Private Bank, Nifty IT and Nifty Chemicals faced selling pressure, declining by up to 1 per cent during early trading.Strong Earnings Support Market SentimentMarket analysts believe positive corporate earnings and last week's strong rally could provide support to Indian equities.The Nifty gained approximately 2.8 per cent last week, supported by encouraging IT sector results and better-than-expected earnings from major banks.However, escalating tensions around the Strait of Hormuz and elevated crude oil prices remain significant concerns for investors.Nifty Support And Resistance LevelsAccording to market experts, Nifty's immediate support lies between 22,950 and 23,000, while resistance is expected around 23,250–23,300.Technical indicators suggest improving momentum, with the Relative Strength Index (RSI) reaching 52.81 and the Put-Call Ratio (PCR) standing at 1.08.Market Begins On Red Note As Sensex Slides 222 Points, RIL Falls Nearly 1% As IT Stocks Resist Sell-Off FIIs Return As Buyers After 15 SessionsForeign Institutional Investors (FIIs) purchased Indian equities worth approximately Rs 1,166 crore on October 16, ending 15 consecutive sessions of selling.Meanwhile, Domestic Institutional Investors (DIIs) sold shares worth around Rs 3,661 crore, breaking their 45-session buying streak.Crude Oil Prices Fall, Asian Markets Trade MixedBrent crude declined nearly 2 per cent to $107.76 per barrel, while US WTI slipped around 1 per cent to $100.43.Across Asia, Japan's Nikkei fell 0.84 per cent, while Hong Kong's Hang Seng and South Korea's KOSPI recorded gains of up to 0.83 per cent.Indonesia's Jakarta Composite dropped more than 5 per cent, reflecting continued uncertainty across global equity markets.

Mumbai (Maharashtra) [India], October 19 (ANI): The stock markets in the country opened largely flat on Monday as elevated crude oil prices amid escalating tensions in the Strait of Hormuz offset support from recent gains in the market and positive corporate earnings.The NSE Nifty 50 index opened at 23,150.85, up 4.70 points or 0.02 per cent, while the BSE Sensex opened at 74,849.30, gaining 120.03 points or 0.1

Sensex Nifty trade flat as private bank earnings weigh PSU banks rally

This week, Indian stock markets will likely be influenced by the quarterly earnings reports from key banks including HDFC Bank, ICICI Bank, and Axis Bank, showcasing different profit trends that are capturing investor interest. Traders will also keep a close eye on crude oil price shifts, geopolitical events, and foreign institutional investor movements, as well as the rupee-dollar exchange rate, to determine if the recent market resurgence is sustainable.

New Delhi: Indian stock markets are expected to remain active in the coming week as investors track quarterly earnings, crude oil prices, foreign investor activity and the much-awaited Jio Platforms IPO. Global developments and currency movements will also influence market direction.Markets will remain closed on Tuesday for Dussehra, making it a holiday-shortened trading week.Markets Recover StronglyIndian equities ended last week with strong gains, supported by buying in information technology stocks and improved investor confidence.The BSE Sensex jumped 2,256.94 points, or 3.11 per cent, while the NSE Nifty gained 625.7 points, or 2.77 per cent.Ponmudi R, CEO of Enrich Money, said markets have gained momentum after two consecutive weekly advances. However, high crude oil prices, geopolitical tensions and global bond yields remain concerns.Investors will watch whether buying spreads beyond IT stocks and supports a broader market recovery.Jio Platforms IPO In FocusOne of the biggest events next week will be the ₹30,213-crore Jio Platforms IPO, scheduled to open on October 21 and close on October 23.The Reliance Industries subsidiary has fixed its IPO price band at ₹1,065–₹1,119 per share. Market Begins On Red Note As Sensex Slides 222 Points, RIL Falls Nearly 1% As IT Stocks Resist Sell-OffThe public issue comprises up to 27 crore fresh equity shares. Analysts believe the massive offering could influence market liquidity and investor fund allocation.Banking And Corporate EarningsBanking stocks will attract attention following strong September-quarter results from major private lenders.HDFC Bank reported a 5.55 per cent rise in consolidated net profit to ₹20,700 crore, while ICICI Bank's profit jumped 22.28 per cent to ₹16,333.18 crore.Axis Bank reported a 39.4 per cent increase in net profit to ₹7,704.67 crore. Sensex Gains 211 Points, IT Buying Supports Markets Despite Global Sell-OffAccording to Siddhartha Khemka of Motilal Oswal Financial Services, upcoming results from Bajaj Finance, UltraTech Cement, Infosys, Coforge, Swiggy and other companies will drive stock-specific movements.Crude Oil And Foreign InvestorsAjit Mishra of Religare Broking said crude oil prices, US Treasury yields and geopolitical developments will remain important market drivers.Investors will also monitor foreign institutional investor flows and rupee-dollar movements to assess whether the recent market recovery can continue.

Benchmark indices Sensex and Nifty extended gains for a second consecutive session on Friday. Continued strength in IT stocks, which rose for a fourth straight session, along with buying in auto, metal and PSU banking stocks, supported the rally.Looking ahead, the 22,800–22,750 zone remains a crucial support. As long as Nifty sustains above 22,750, the recovery is likely to extend. On the upside, 23,400–23,450 remains the immediate resistance zone, a decisive breakout above which could propel the index towards 23,650, coinciding with its 100-day EMA.Here are 5 factors that investors need to watch out for1.) Q2 earnings - Banking heavyweights HDFC Bank, ICICI Bank, and Axis Bank all declared their earnings on Saturday. Investors will assess loan growth, deposit mobilisation, margins, asset quality and management commentary for cues on earnings momentum, credit demand and the outlook for the financial sector.India’s largest private lender HDFC Bank on Saturday reported a net profit of Rs 19,510 crore for the second quarter of FY27, marking a 4.6% jump from Rs 18,641 crore posted in the same period last year. HDFC Bank’s net interest income (interest earned less interest expended) for the quarter ended September 30, 2026, grew 9.7% to Rs 34,620 crore from Rs 31,550 crore in the corresponding quarter last year.2.) Oil prices - Crude oil prices climbed sharply higher on Friday to clinch $110 for the first time since May as Iran intensified attacks in the Strait of Hormuz, Houthi militants launched missiles at Saudi Arabia and Ukraine pledged to resume strikes on Russian refineries, fuelling concerns over global energy supplies.Markets remain uncertain about how the conflict will develop. JPMorgan analysts said the war’s eventual trajectory was difficult to model. At the outset, the bank had expected the US administration to avoid crossing certain economic thresholds. Seven months into the conflict, many of those thresholds had been crossed, while a clear exit strategy remained elusive.3.) IT stocks - IT stocks such as TCS, Tech Mahindra, Infosys and Wipro had a strong week, rallying up to 17% and lifting the index by 12% over the week amid better-than-expected earnings and a sharp plunge in AI-linked stocks.Additionally, Nifty IT is firmly placed in the leading quadrant of the RRG, indicating strong relative strength and momentum. On the daily chart, the index is on the cusp of breaking its lower-low, lower-high structure. The 32,000–32,200 zone is the immediate resistance. A decisive and sustained move above this zone could pave the way for a continuation of the pullback in the near term, Sudeep Shah of SBI Securities said.4.) FII activity - Foreign institutional investors (FIIs) remained net sellers for the ninth consecutive week, but outflows eased sharply to Rs 8,991 crore from Rs 30,294 crore in the previous week, according to Bajaj broking.FIIs turned net buyers of Rs 1,166 crore on Friday. Domestic institutional investors (DIIs), meanwhile, remained net buyers for the ninth straight week, with inflows of Rs 7,813 crore, despite net selling of Rs 3,661 crore on Friday. Month-to-date, DII net buying of Rs 48,168 crore has almost entirely offset FII net selling of Rs 48,769 crore.Going ahead, the moderation in FII outflows suggests that market sentiment may be stabilising, although elevated crude oil prices continue to pose a risk to the recovery. Investors will track Brent crude prices and developments in US-Iran relations, while domestic attention will remain on Q2FY27 earnings, Pabitro Mukherjee of Bajaj Broking said.5.) Rupee up for 5th session - The Indian rupee rose 2% this week to record its strongest weekly gain in seven months, supported by policy measures aimed at stabilising the currency. However, analysts cautioned that a sustained recovery would depend on easing the underlying pressures on the rupee.The currency closed at Rs 94.96 per US dollar, up 0.1% on the day, recovering after last week’s slide brought it close to its record low of Rs 96.96 per dollar.Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here