Sensex Drops Over 600 Points in Early Trade on IT Losses and Higher Oil Prices

Indian stock markets opened lower on Wednesday, October 28, 2026, pulled down by IT shares, rising oil prices and investor caution before a major US policy decision. The 30-share BSE Sensex dropped 601.14 points to reach 72,997.55 in early trade, while the 50-share NSE Nifty fell 146 points to 22,604.80.

Market Movers

Infosys, HCL Tech, Tech Mahindra, Tata Consultancy Services, ITC and Asian Paints led the losses among Sensex firms. On the other hand, Larsen and Toubro rose over 4 per cent after posting a 32.5 per cent jump in consolidated net profit to Rs 5,202.10 crore for the quarter ended September 2026, backed by higher revenue. State Bank of India and Axis Bank also gained from the blue-chip pack.

Global Factors

Global oil benchmark Brent crude traded 1.36 per cent higher at USD 115.4 per barrel, while WTI crude traded around USD 100 to 101 a barrel. Foreign Institutional Investors bought equities worth Rs 4,240.39 crore on Tuesday, October 27, 2026. Meanwhile, Asian markets including South Korea's Kospi, Japan's 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index traded higher, with the Kospi surging 6.11 per cent, and US markets also ended higher on Tuesday.

Context

Stock markets frequently react to shifts in global crude oil prices because higher energy costs put pressure on company profits and the wider economy. Investors often turn cautious and pull back from riskier assets ahead of major central bank rate announcements and geopolitical events.