Mumbai: The BSE Sensex dropped 536.30 points to 72,583.86 in early trade on Monday, October 26, and the NSE Nifty fell 200.10 points, PTI reported in its morning newsalerts, as Indian markets opened lower tracking last week's losses amid elevated crude oil prices and caution ahead of the US Federal Reserve's policy decision later this week.
Source: PTI via Daily World
The Hindu BusinessLine's live market coverage, citing Reuters, said the Sensex fell 414.35 points, or 0.57 per cent, to 72,709.48 at 9:17 am after opening at 72,990.04 against its previous close of 73,123.83, while the Nifty depreciated 147.30 points, or 0.65 per cent, to 22,452.70, with thirteen of the sixteen major sectors logging losses at the open and the broader small-caps and mid-caps losing 0.3 per cent and 0.6 per cent respectively.
Source: The Hindu BusinessLine (Reuters)
IT stocks shed 2.3 per cent and led the losses, BusinessLine reported, with Infosys losing 3.4 per cent after it slashed its annual revenue growth forecast — the company cut its fiscal 2027 revenue growth guidance to 1-2 per cent from 1.5-3 per cent, citing weakness in its key North American market. Shriram Finance shares fell about 5 per cent after the non-bank lender lowered its annual loan growth forecast and warned of higher credit costs, while Kotak Mahindra Bank and JSW Steel were among the early gainers.
Source: The Hindu BusinessLine (Reuters)
The rupee fell 3 paise to 94.96 against the US dollar in early trade, PTI reported. The weak open followed a holiday-truncated week in which the Sensex tumbled 1,605.44 points, or 2.15 per cent, and the Nifty slumped 546.15 points, or 2.36 per cent, BusinessLine reported, adding that the combined market valuation of eight of the top-10 most valuable firms eroded by Rs 1.55 lakh crore last week — yaani about Rs 1,55,000 crore of market value wiped out from just eight top companies. Investors are now focused on the Fed's October 27-28 meeting and a busy corporate earnings calendar.