Nifty 50 closed at 22,600.00, down 0.39%

The session

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 94.94, rupee weaker by 0.67% on the session
• India VIX: 16.86 (+7.0%)
• Gold (rupee terms): -1.24% on the session, -3.3% over five sessions

Key drivers

Markets

• Stocks in news: Swiggy, Infosys, HPCL, eMudhra, Adani Power, Shriram Finance, Tata Motors and NLC India. Indian equity markets faced continued downward pressure, marked by persistent selling and negative global indicators. The Nifty 50 index saw a decline, with analysts pointing out critical resistance and support points. (Economic Times Markets)
• Market crash: Sensex sinks 1,279 pts from day's high; Nifty tests 22,400. With Brent at $114, high crude prices remain a key headwind for oil-sensitive sectors, making a broad-based equity recovery difficult, says Hariselvan Radhakrishnan of HST Wealth (Business Standard Mkts)
• IT stocks rebound sharply in October: TCS gains 22%, Wipro and Tech Mahindra gain 20% — 3 key reasons behind the jump. Indian IT stocks rebounded sharply in October, with the Nifty IT index rising 16% as stronger-than-expected quarterly results, attractive valuations, and easing concerns about AI disruption revived investor interest. (LiveMint Markets)
• Stock Market Crash Highlights: Sensex, Nifty End Lower After Late Recovery, Mid Caps Sink 3%. The Nifty 50 recovered 83.60 points from its provisional close of 22,516.40, while the Sensex gained back 228.88 points from its provisional closing level of 72,894.95. (NDTV Profit)

Read more Stocks in news: Swiggy, Infosys, HPCL, eMudhra, Adani Power, Shriram Finance, Tata Motors and NLC India · Market crash: Sensex sinks 1,279 pts from day's high; Nifty tests 22,400 · IT stocks rebound sharply in October: TCS gains 22%, Wipro and Tech Mahindra gain 20% — 3 key reasons behind the jump · Stock Market Crash Highlights: Sensex, Nifty End Lower After Late Recovery, Mid Caps Sink 3%

Economy & policy

Economy and policy

• Sebi warns investors against WhatsApp stock tips. Here's how you can avoid such traps. SEBI has cautioned investors against exclusive WhatsApp groups spreading unauthorised stock tips and fake profit claims. (Economic Times Markets)
• 'AI-trade' bust will aid India only partially; don’t tweak LTCG, says Madhavi Arora of Emkay Global. A calibrated reduction in STT, particularly for cash-market transactions, would lower friction, improve market liquidity and send a useful signal to global investors, without reopening the entire capital gains framework, says Arora. (LiveMint Markets)
• Sebi allows margin relief against early pay-in of securities for subsequent trades. The Securities and Exchange Board of India (Sebi) has announced a new directive that eases margin requirements for clients with a net sell obligation. (ET Stocks)
• RBI asks banks, payment firms to forensically clear tech environments in case of a data breach. The RBI has asked financial entities to remove management and administrative interfaces from public internet access, enforce multi-factor authentication for administrative access, and restrict access to cloud and backend systems on a least-privilege basis. (Economic Times Markets)

Read more Sebi warns investors against WhatsApp stock tips. Here's how you can avoid such traps · 'AI-trade' bust will aid India only partially; don’t tweak LTCG, says Madhavi Arora of Emkay Global · Sebi allows margin relief against early pay-in of securities for subsequent trades · RBI asks banks, payment firms to forensically clear tech environments in case of a data breach

Companies

• Why are mid, small-caps bleeding? Indices crash up to 4% - Swiggy, Meesho, Vedanta Aluminium, MCX lose big. The BSE 150 Midcap index crashed 3.2%, while the BSE 250 SmallCap Index crashed 3.6% during the session. The Sensex and the Nifty 50 declined up to 1.4% during the session. (LiveMint Markets)
• 10 stocks plunge up to 53% from their yearly peaks. India’s market correction has pushed several midcap stocks sharply below their 52-week highs. (Economic Times Markets)
• Nippon Life India AMC gets Sebi nod to settle Yes Bank AT-1 bond case. Nippon Life India AMC received in-principle regulatory approval to settle the Yes Bank AT-1 bond case after paying ₹96.76 crore, while its September-quarter net profit fell nearly 6%. (Business Standard Mkts)
• BSE Capital Goods index tanks nearly 4%; Hitachi Energy, ABB India slip 6%. In the past month, the BSE capital goods index slipped 12% as against a 2.8% decline in the BSE Sensex. (Business Standard Mkts)

Read more Why are mid, small-caps bleeding? Indices crash up to 4% - Swiggy, Meesho, Vedanta Aluminium, MCX lose big · 10 stocks plunge up to 53% from their yearly peaks · Nippon Life India AMC gets Sebi nod to settle Yes Bank AT-1 bond case · BSE Capital Goods index tanks nearly 4%; Hitachi Energy, ABB India slip 6%

Companies

New issues

• Jio leverage play pops up at SBI as India brokers lure IPO bets. SBI Securities has launched an exciting financing option for the highly anticipated IPO of Jio Platforms Ltd. Investors can secure up to 60% funding for their subscriptions, with the IPO set to open for bids on October 21. (Economic Times Markets)
• Shellz India SME shares to list today; GMP indicates 4% potential gain. Shellz India is set to list on the BSE SME platform on October 23, with a grey market premium of around 4%, indicating a potential listing gain of 4%. (Economic Times Markets)
• Jio IPO closes today: Will it deliver a double-digit listing gain or become a long-term compounder?. Jio Platforms will wrap up its IPO bidding today, setting a new benchmark as India's largest public offering to date. With an overwhelming interest from investors, substantial gains are forecasted when the shares list. (Economic Times Markets)
• Tonbo Imaging shares make strong debut, list at 66% premium over IPO price. On the BSE, the stock listed at ₹1,162, a premium of 66 per cent, while on the NSE, the stock made its debut at ₹1,160, a premium of 65.71 per cent. (Business Standard Mkts)

Read more Jio leverage play pops up at SBI as India brokers lure IPO bets · Shellz India SME shares to list today; GMP indicates 4% potential gain · Jio IPO closes today: Will it deliver a double-digit listing gain or become a long-term compounder? · Tonbo Imaging shares make strong debut, list at 66% premium over IPO price

Currency, commodities & rates

World

• Nasdaq CEO flags IPO slowdown amid market volatility. The IPO market is grappling with hurdles stemming from macroeconomic instability and fluctuating market conditions that are influencing corporate strategies. Numerous firms have either delayed or abandoned their public listing intentions lately. (Economic Times Markets)
• Global Market: Anthropic presses ahead with November IPO as AI listings face delays. Anthropic is preparing for a potential mid-November IPO despite market volatility, rising interest rates and concerns over AI spending. (Economic Times Markets)
• ITBP chief confirms Chinese incursions in Arunachal amid rising frontier tensions. Addressing troops at an investiture ceremony ahead of the force’s 65th Raising Day on October 24, ITBP Director General Shatrujeet Kapur outlined major operational upgrades aimed at countering China, whom he identified as India’s "biggest adversary." (Business Today Mkts)
• China's Sigenergy to build inverter, battery storage plants in India. The company, which began operations in India earlier this year, will first build an inverter manufacturing plant that is expected to be operational by the second quarter of 2027 (BS Companies)

Read more Nasdaq CEO flags IPO slowdown amid market volatility · Global Market: Anthropic presses ahead with November IPO as AI listings face delays · ITBP chief confirms Chinese incursions in Arunachal amid rising frontier tensions · China's Sigenergy to build inverter, battery storage plants in India

What matters next