Summary:
The Nifty 50 and Sensex declined on October 28, 2026, amid rising crude oil prices, US-Iran tensions, IT stock selling and uncertainty ahead of the Federal Reserve decision. Investors also monitored sector performance, heavyweight stocks and upcoming policy signals.
Why did the Nifty and Sensex fall today October 28?
Indian equity markets witnessed selling on Wednesday, October 28, 2026, with the Sensex falling 352.64 points, or 0.48%, to settle at 72,603, while the Nifty 50 declined 50.90 points, or 0.221.11%, to 22,698.85. Rising crude oil prices, geopolitical tensions and heavy selling in IT stocks weighed on sentiment. Brent crude climbed above $115 per barrel, raising concerns about India's import bill, inflation and corporate profitability.
US-Iran Tensions Raise Supply Concerns
Reports of possible renewed US military action against Iran heightened fears of disruptions to Middle Eastern oil supplies. The strategically important Strait of Hormuz remains vulnerable to escalating tensions. Any prolonged disruption could push energy prices higher, adding pressure on India's economy and the rupee.
US Federal Reserve Decision Adds to Uncertainty
Investors also remained cautious ahead of the US Federal Reserve's interest rate decision scheduled for Wednesday. The central bank is expected to maintain rates at 3.75% to 4%, but its commentary on inflation and future policy remains crucial. Higher US interest rates could influence foreign investment flows into Indian equities.
Sector-Wise Impact
IT stocks faced the steepest selling pressure, with the Nifty IT index declining 1.98%. FMCG, Energy and Realty stocks also weakened, while select automobile, healthcare and infrastructure stocks showed resilience. Gains in Larsen & Toubro and Apollo Hospitals helped cushion the benchmark indices.
Top Gainers and Losers Today
Top 5 Gainers
| Company Name | % Change |
| Apollo Hospitals Enterprise | +4.43% |
| Larsen & Toubro | +3.72% |
| Trent | +3.31% |
| SBI Life Insurance Company | +2.06% |
| InterGlobe Aviation (IndiGo) | +2.03% |
Top 5 Losers
| Company Name | % Change |
| Infosys | -3.43% |
| Reliance Industries | -3.19% |
| Oil and Natural Gas Corporation (ONGC) | -2.16% |
| Tech Mahindra | -1.92% |
| Bharti Airtel | -1.55% |
Outlook: What to Watch Next
The Nifty's ability to sustain above 22,500 remains important after today's intraday decline. Investors will monitor crude oil prices, US-Iran developments, the Federal Reserve's policy announcement and foreign institutional flows. A sustained easing in oil prices and recovery in IT stocks could help stabilise market sentiment.
