The Sensex closed 352.64 points, or 0.48%, lower at 73,246.03 on 28 October 2026, while the Nifty ended 50.90 points down at 22,698.85. A fresh spike in crude oil and sharp selling in IT stocks pulled benchmark indices down, though both recovered most of their intraday losses.
The Sensex fell as low as 72,603.57 during the session, a drop of 995.1 points or 1.35%, before buying emerged late in the day. Brent crude rose 0.99% to $114.5 a barrel, according to market reports.
Why Did the Sensex Fall on 28 October?
Vinod Nair, Head of Research at Geojit Investments, said domestic equities stayed volatile as a fresh spike in crude oil prices and sharp selling in IT stocks weighed on sentiment. Among Sensex constituents, Reliance Industries fell 3.46%, Infosys 3.34%, Tech Mahindra 1.83%, Tata Consultancy Services 1.68%, Bharti Airtel 1.42% and Tata Steel 1.37%.
Which Stocks Gained?
Larsen & Toubro rose nearly 4% after reporting a 32.5% rise in quarterly consolidated net profit. Trent, State Bank of India, Axis Bank and InterGlobe Aviation also closed higher. Sector data from Telangana Today showed Nifty Auto up 1.5%, Bank Nifty up 0.5%, Nifty Midcap up 0.5% and Nifty SmallCap up 0.8%, while Nifty IT and Nifty Oil & Gas each fell about 2% and Nifty FMCG lost 0.6%.
What Are Institutional Investors Doing?
Foreign institutional investors bought equities worth ₹4,240.39 crore on 27 October, according to exchange data cited in the reports. India TV reported that domestic institutions sold ₹1,250.03 crore the same day.
Market and Trade Reaction
Analysts flagged 22,500 as key Nifty support, a level where buying interest has repeatedly emerged; the index touched an intraday low of 22,498 on Wednesday. The rupee’s closing level was not available in the sources reviewed.
What Happens Next?
Investors will track crude oil, which remains elevated amid US-Iran tensions, along with the Federal Reserve’s policy stance and continued foreign inflows. Corporate earnings, including from large IT and energy names, will also set direction in the coming sessions.
Frequently Asked Questions
Where did the Sensex and Nifty close on 28 October 2026?
The Sensex closed at 73,246.03, down 352.64 points, and the Nifty at 22,698.85, down 50.90 points.
Why did Indian markets fall on Wednesday?
Analysts cited a fresh spike in crude oil prices and heavy selling in IT shares, with Reliance Industries and Infosys among the biggest drags.
Which Sensex stock gained the most?
Larsen & Toubro rose nearly 4% after posting a 32.5% jump in consolidated quarterly net profit.
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