Nifty50 falls 2.4% in a week as Brent crude stays above $117 and FIIs sell
Midcaps and smallcaps took the heaviest hit, and a busy week of central bank decisions and earnings lies ahead.
The 30-second read
- Nifty50 fell 2.4% in the holiday-shortened week, with Sensex down 2.1% and Nifty Bank down 2.8%.
- Nifty Midcap 150 lost 5.5% and Nifty Smallcap 250 lost 7.1%, the steepest fall since February 2025.
- The Fed, ECB and BoJ decide this week, and Q2 FY27 results from L&T, Maruti, HUL and others are due.
IllustrationIndian equities fell again last week, first reported by Business Today. The Nifty50 dropped 2.4% in the holiday-shortened week. Sensex lost 2.1% and Nifty Bank lost 2.8%. The slide ended two straight weeks of gains. A global selloff in AI-related stocks and FII selling added to the pressure.
The damage was sharper lower down. Nifty Midcap 150 fell 5.5% and Nifty Smallcap 250 fell 7.1%, the steepest weekly drop since February 2025. Among sectors, Nifty IPO lost 7.5%, Chemical 7.2% and Defence 7.1%. Nifty IT rose 0.5%. FIIs sold about ₹4,606 Cr on Oct 19 and 22 and bought about ₹1,909 Cr on Oct 21 and 23. DIIs bought about ₹10,941 Cr. The rupee ended just below 95 per USD, up from around 97, helped by the RBI.
Brent crude held above $117 per barrel. Ajit Mishra, SVP (Research) at Religare Broking, said: "Brent crude stayed elevated amid escalating tensions in the Middle East." Gaurang Shah, Senior Vice-President at Geojit Investments, said that expensive crude oil is a concern for the Indian economy, since the country relies on imports to meet its energy requirements. Mishra sees Nifty support at 22,200–22,400, then 21,700, and resistance at 22,900, then 23,300.
Central banks decide this week. Business Today lists the FOMC decision for October 28, the ECB for October 29 and the BoJ for October 30. NDTV Profit says three days of decisions start Wednesday and expects the Fed to lead a hawkish rate pause. Q2 FY27 results begin with Paytm and REC on Oct 26, then L&T and Maruti on Oct 27, HUL and Adani Ports on Oct 28, Asian Paints and Trent on Oct 29, and Sun Pharma, BEL and IOC on Oct 30.
Why it matters
Brent above $117 raises worries over India's energy import bill, inflation, corporate margins and the rupee. FII selling has spread to midcaps and smallcaps, which fell the most.
The data
| Index | Weekly move |
|---|---|
| Nifty50 | -2.4% |
| Sensex | -2.1% |
| Nifty Bank | -2.8% |
| Nifty Midcap 150 | -5.5% |
| Nifty Smallcap 250 | -7.1% |
| Nifty IPO | -7.5% |
| Nifty Chemical | -7.2% |
| Nifty Defence | -7.1% |
| Nifty IT | +0.5% |
