Nifty 50 closed at 22231.8, down 1.64%

The session

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 96.78, rupee weaker by 0.43% on the session
• India VIX: 15.29 (+10.1%)
• Gold (rupee terms): -0.12% on the session, -0.4% over five sessions

Key drivers

Markets

• Why is market crashing today? Sensex slumps 700 points, Nifty below 22,400. 7 key factors behind Rs 7 lakh crore wipeout. On Thursday, there was a notable decline in the Indian stock market, marked by a drop of over 1% in both Sensex and Nifty. This downturn was attributed to the RBI's tightening policies and ongoing selling by foreign institutional investors. (Economic Times Markets)
• Market wrap: Kotak Bank, Bharti Airtel, Titan Company, Adani Ent top gainers and losers on Nifty and Sensex on Wednesday. The rate increase could pressure funding sensitive and discretionary shares, but conflicting price snapshots make the session's company level moves less clear. (ET Stocks)
• Tata Motors PV, Maruti Suzuki, Ashok Leyland, auto stocks drop up to 3% as RBI signals rate cuts are ‘off the table’. Dearer credit could test vehicle demand and dealer balance sheets, while input costs leave automakers less room to protect margins despite expected revenue growth. (Economic Times Markets)
• TCS, Infosys, HCL Tech, other IT stocks jump up to 3% despite weak market sentiment. What to expect as Q2 earnings season begins?. IT stocks rose on Thursday as investors turned their attention to TCS, which is set to kick off the Q2 earnings season. Analysts expect modest sequential revenue growth, while a favourable base and margin support could aid year-on-year growth. (Economic Times Markets)

Read more Why is market crashing today? Sensex slumps 700 points, Nifty below 22,400. 7 key factors behind Rs 7 lakh crore wipeout · Market wrap: Kotak Bank, Bharti Airtel, Titan Company, Adani Ent top gainers and losers on Nifty and Sensex on Wednesday · Tata Motors PV, Maruti Suzuki, Ashok Leyland, auto stocks drop up to 3% as RBI signals rate cuts are ‘off the table’ · TCS, Infosys, HCL Tech, other IT stocks jump up to 3% despite weak market sentiment. What to expect as Q2 earnings season begins?

Economy & policy

Economy and policy

• Loans get costlier: PNB, BOB others hike rates after RBI’s 25-bps repo rate hike. Higher lending rates may help bank yields initially, but rising funding costs and weaker demand could limit the benefit while pressuring rate sensitive sectors. (Business Today Mkts)
• What will happen to economy if India-US FTA doesn't happen? RBI Governor reveals. "The impact depends on to what extent tariffs are going to be applied. So, it's premature to answer. (ET Stocks)
• Sebi brings risk-o-meter for debt securities; eases norms for debt-raising. Sebi introduces Credit Risk-o-Meter, eases private debt norms; NSE flags steep premiums in some international ETFs (Business Standard Mkts)
• RBI's Next Rate Hike Will Be Of 0.50%: SBI Economists. SBI said that global conditions are likely to turn more volatile soon, and getting the repo rate to 6 per cent from the present 5.50 per cent will be the best option. (NDTV Profit)

Read more Loans get costlier: PNB, BOB others hike rates after RBI’s 25-bps repo rate hike · What will happen to economy if India-US FTA doesn't happen? RBI Governor reveals · Sebi brings risk-o-meter for debt securities; eases norms for debt-raising · RBI's Next Rate Hike Will Be Of 0.50%: SBI Economists

Companies

• INR vs USD: Rupee near 97/dollar; how TCS, Sun Pharma, Tata Steel, SRF may gain from weaker currency? Experts explain. INR vs USD: According to analysts, a weaker rupee is a clear macroeconomic headwind for India because the country remains heavily dependent on imported crude oil and several other commodities. (LiveMint Markets)
• Adani Power shares crash over 6%, down for second consecutive session - What tech charts signal? Experts decode. Year-to-date, Adani Power share price is 26% up compared to a 16% fall in the equity benchmark Sensex and a 6% rise in the BSE Power index. Over the last six months, the stock has gained 11%. (LiveMint Markets)
• ITC shares slide 3% on block deal buzz; FMCG giant down 29% in 2026. Heavy trading may signal an institutional ownership shift in ITC, creating a near term overhang while the absence of disclosed counterparties limits firm conclusions. (ET Stocks)
• Paytm, Mobikwik share prices crash up to 10% amid UPI MDR delay buzz. The selloff shows that fintech valuations are sensitive to the timing of UPI monetisation, even before authorities have settled the proposed framework. (Business Standard Mkts)

Read more INR vs USD: Rupee near 97/dollar; how TCS, Sun Pharma, Tata Steel, SRF may gain from weaker currency? Experts explain · Adani Power shares crash over 6%, down for second consecutive session - What tech charts signal? Experts decode · ITC shares slide 3% on block deal buzz; FMCG giant down 29% in 2026 · Paytm, Mobikwik share prices crash up to 10% amid UPI MDR delay buzz

Companies

New issues

• Vishal Nirmiti shares list at 2% discount over IPO price on NSE, BSE. The weak debut suggests strong subscription demand did not translate into listing gains, keeping attention on execution and post listing price discovery. (Economic Times Markets)
• Shadowfax Technologies shares jump 137% from IPO price; ICICI Securities sees 15% upside | Should you buy?. ICICI Securities raised its Shadowfax target price to ₹330 from ₹280, retaining an Add rating after the shares climbed 137% from their IPO. (LiveMint Markets)
• 6 SME IPOs to list today: EverestIMS, Dove Soft, Eventions among issues making debut. Six SME IPOs — Omara Ventures India, Sollfege Smart Electronics, Eventions, SJP Ultrasonics, Dove Soft and EverestIMS Technologies — will list on the stock market on October 8, having collectively raised around Rs 247 crore. (Economic Times Markets)
• Jio Platforms IPO: What does it mean for Reliance Industries share price? What should RIL investors do?. For RIL shareholders, however, the bigger question is not simply the size of the IPO but how the market values Jio’s telecom, digital, cloud, 5G and emerging artificial intelligence businesses. (LiveMint Markets)

Read more Vishal Nirmiti shares list at 2% discount over IPO price on NSE, BSE · Shadowfax Technologies shares jump 137% from IPO price; ICICI Securities sees 15% upside | Should you buy? · 6 SME IPOs to list today: EverestIMS, Dove Soft, Eventions among issues making debut · Jio Platforms IPO: What does it mean for Reliance Industries share price? What should RIL investors do?

Currency, commodities & rates

World

• US Market: Jeff Bezos signals Blue Origin IPO could launch in coming years. Blue Origin's funding and possible listing may lift global space sector benchmarks, but immediate implications for Indian listed companies remain indirect. (Economic Times Markets)
• India-UK Financial Markets Dialogue: Bilateral Pact To Explore Dual Listings, Boost Capital Flows via GIFT IFSC. India and UK agree to explore cross-border equity and bond listings through GIFT IFSC, deepen capital-market connectivity and boost bilateral investment flows. (NDTV Profit)
• UK 30-year gilt yields hit 28-year high in global selloff. Higher global sovereign yields may tighten financial conditions in India, affecting foreign flows, bond valuations and rate sensitive sectors even without a direct UK shock. (Economic Times Markets)
• Global Market: UK Gilt yields rise as oil, US Treasury yields weigh on bonds. The gilt selloff may tighten global financial conditions for India while costlier oil adds pressure on inflation sensitive sectors and domestic bond valuations. (Economic Times Markets)

Read more US Market: Jeff Bezos signals Blue Origin IPO could launch in coming years · India-UK Financial Markets Dialogue: Bilateral Pact To Explore Dual Listings, Boost Capital Flows via GIFT IFSC · UK 30-year gilt yields hit 28-year high in global selloff · Global Market: UK Gilt yields rise as oil, US Treasury yields weigh on bonds

What matters next