22 October, 2026 Stock Market Updates: Sensex down 366 points, Nifty below 22,700, Power Grid drops 2%

Indian equity benchmark indices, the Sensex and Nifty, started the session on a weak note as persistently high crude oil prices and escalating geopolitical tensions weighed on investor sentiment. The 30-share BSE Sensex fell 366.36 points, or 0.50 per cent, to 73,343.33, while the Nifty shed 123.60 points to open at 22,687.75. In the last trading session, the Sensex closed at 73,709.69 and the Nifty 50 at 22,811.35. Similarly, the broader indices traded in red in the opening session. While the BSE Midcap Select Index fell 77.32 points, the BSE Smallcap Select Index fell 38.32 points, or 0.44 per cent, to trade in the red at 8,576.

In early trade, market breadth was negative, with 1,845 stocks declining against 648 stocks advancing on the NSE. 120 stocks remained unchanged.

What did Gift Nifty indicate?

Gift Nifty, an early indicator for the Nifty 50, indicated a flat start today, opening with a gain of 6.5 points at 22,735, compared to the previous close of 22,728.50. Foreign Institutional Investors (FIIs) turned buyers on Wednesday, buying equities worth Rs 22,728.50 crore on October 21, 2026. Similarly, Domestic Institutional Investors (DIIs) remained buyers, buying equities worth Rs 1,614.32 crore.

“The near-term outlook remains defensive, with weak price action in Nifty and Bank Nifty keeping recovery attempts under pressure. Although FIIs and DIIs both turned net buyers, the improvement in institutional flows has yet to translate into stronger market momentum. Gift Nifty’s negative indication may weigh on the opening, while elevated volatility and resistance overhead could encourage selective trading and limit aggressive buying,” said Deepesh Sarawagi, Technical Research Analyst at Choice Broking Private Limited.

Asian Markets Today

Asian markets dip as fading momentum in the US technology rally weighed on equity futures. However, the US stock market ended higher after strong profit reports from SpaceX and other companies. Japan’s Nikkei 225 was down 1,101.24 points, or 1.70 per cent, to 63,520 at the time of writing. Similarly, Hong Kong’s Hang Seng dropped 652.87 points or 2.76 per cent. South Korea’s Kospi fell 153.80 points or 2.68 per cent. Shanghai’s SSE Composite index was down by 33.17 points or 0.90 per cent.

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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)