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Rising crude oil prices continued to weigh on market sentiment, raising concerns over inflationary pressures, higher corporate input costs and India's import bill. Going ahead, investors will track global market cues, FII activity, key US inflation data and upcoming corporate earnings for further direction.
Pharma, auto and realty stocks came under pressure, while gains in FMCG, IT and oil & gas shares helped limit the market’s losses.
As per provisional closing data, the S&P BSE Sensex declined 251.89 points or 0.34% to 72,781.99. The Nifty 50 index fell 99.25 points or 0.44% to 22,622.70.
In the broader market, the BSE 150 MidCap index shed 0.05%, while the BSE 250 SmallCap index advanced 0.08%.
Market breadth remained positive. On the NSE, 2,564 shares advanced, while 1,805 declined and 220 remained unchanged.
Brent crude futures climbed 47 cents or 0.44% to $106.16 a barrel.
Economy:
India's wholesale price index (WPI) inflation accelerated to 11.39% in September 2026, from 9.92% in August, marking its highest level in the new series. The increase was driven by rising prices across major categories, with fuel and power inflation climbing to 25.9% from 22.9% in August. Inflation in food articles rose to 8.66% from 7.05%, while primary articles inflation increased to 8.67% from 7.76%. Inflation in manufactured products also accelerated to 9.76% from 8.37%. Core WPI inflation under the new series stood at 9.8%. The broad-based increase points to mounting wholesale price pressures, particularly from energy and manufacturing costs.
IPO Update:
HD Fire Protect received bids for 26,80,87,930 shares as against 1,84,20,492 shares on offer, according to stock exchange data at 15:30 IST on 14 October 2026. The issue was subscribed 14.55 times.
The issue opened for bidding on 13 October 2026 and will close on 15 October 2026. The price band of the IPO is fixed between Rs 258 and 271 per share. An investor can bid for a minimum of 55 equity shares and multiples thereof.
Fusion CX received bids for 45,47,823 shares as against 1,40,40,000 shares on offer, according to stock exchange data at 15:30 IST on 14 October 2026. The issue was subscribed 0.32 times.
The issue opened for bidding on 14 October 2026 and will close on 16 October 2026. The price band of the IPO is fixed between Rs 275 and 289 per share. An investor can bid for a minimum of 51 equity shares and multiples thereof.
Buzzing Segment:
The Nifty Pharma index declined 1.30% to 25,736.95. The index fell 1.31% in the two consecutive trading sessions.
Divis Laboratories (down 2.92%), Dr Reddys Laboratories (down 2.37%), Sai Life Sciences (down 2.11%), Sun Pharmaceutical Industries (down 1.64%), Mankind Pharma (down 1.56%), Torrent Pharmaceuticals (down 1.53%), Laurus Labs (down 1.48%), Cipla (down 1.4%), Gland Pharma (down 1.33%) and Aurobindo Pharma (down 1.28%) declined.
Stocks in Spotlight:
Hero Motors advanced 1.54% after the company reported a strong financial performance for the quarter ended 30 June 2026. The company’s consolidated net profit surged 115.64% to Rs 10.20 crore in Q1 FY27 compared with Rs 4.73 crore in Q1 FY26. Revenue from operations jumped 24.86% YoY to Rs 319.32 crore in the quarter ended 30th June 2026.
Canara Bank rallied 3.87% after the company's standalone net profit jumped 8.40% to Rs 5,174.76 crore on a 6.05% increase in total income to Rs 40,931.19 crore in Q2 FY27 over Q2 FY26.
Aegis Logistics surged 6.41% after the company approved the proposed acquisition of an 89.8% stake in Dubai-based Tristar Holdings. The acquisition carries an equity consideration of $809 million, including contingent payments and interest on deferred consideration.
Global Market:
European equities advanced on Wednesday, supported by gains in technology stocks after semiconductor equipment maker ASML raised its full-year sales forecast and projected stronger-than-expected fourth-quarter revenue amid robust AI-related demand. ASML shares rose, lifting peers including ASM International, BE Semiconductor and Infineon Technologies.
The rally helped markets absorb comments from European Central Bank President Christine Lagarde, who said France must address its debt challenges through domestic fiscal policies rather than rely on central bank intervention. Investors also awaited US inflation data for clues on the Federal Reserve's interest-rate outlook.
Asian market ended mixed on Wednesday, as investors assessed the technology-led selloff on Wall Street and awaited key US inflation data. Market sentiment remained cautious amid concerns over elevated crude oil prices and intensifying competition in the semiconductor industry.
Singapore's economy expanded 5.4% year on year in Q3 2026, moderating from 6.2% growth in the previous quarter, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Wednesday. On a seasonally adjusted quarter-on-quarter basis, GDP grew 1.1%, compared with 1.5% in Q2. Manufacturing output increased 7.5% year on year, slowing from 12.9% growth in the preceding quarter.
US stocks ended lower on Tuesday as weakness in technology and semiconductor shares weighed on the broader market. The Dow Jones Industrial Average declined 0.35% to 51,670.10, while the S&P 500 slipped 0.02% to 7,805.45. The Nasdaq Composite fell 0.15% to 27,204.38. Investors also assessed corporate earnings and awaited US inflation data for clues on the Federal Reserve's interest-rate outlook.
New York Federal Reserve President John Williams said he still considered one more interest-rate hike in 2026 potentially appropriate but saw no current need for further increases in 2027. In an interview with Bloomberg News, Williams said his outlook remained dependent on incoming economic data and developments in inflation. His comments indicate his current assessment rather than a commitment by the Federal Reserve to a specific rate path.
The bank's global business grew 15.83% YoY to Rs 30,70,928 crore as of 30 September 2026, compared with Rs 26,51,322 crore as of 30 September 2025.
Global deposits increased 13.13% YoY to Rs 16,97,195 crore, while global advances rose 6.21% YoY to Rs 13,73,733 crore during the period.
Canara Bank is a public sector bank. As on 30 June 2026, the bank had 10,131 branches, out of which 3,211 were rural branches, 3033 were semi-urban branches, 1994 were urban branches & 1893 were metro branches, along with 11,047 ATM & recycler. The bank also has 4 overseas branches in London, New York, Dubai & IBU Gift City Branch.
The bank reported 2.19% increase in net profit to Rs 4,856 crore on a 4.26% rise in total income to Rs 39,684 crore in Q1 FY27 as compared with Q1 FY26.
PSU Bank shares declined after advancing in the past trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex declined 427.78 points or 0.58% to 74,477.91. The Nifty 50 index declined 140.10 points or 0.60% to 23,338.50.
In the broader market, the BSE 150 MidCap Index fell 0.52% and the BSE 250 SmallCap Index dropped 0.59%.
The market breadth was negative. On the BSE, 1,474 shares rose and 2,651 shares fell. A total of 256 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 4.23% to 12.30. The Nifty 29 September 2026 futures were trading at 23,399.20 at a premium of 60.7 points as compared with the spot at 23,338.50.
The Nifty option chain for the 29 September 2026 expiry showed a maximum call OI of 85.7 lakh contracts at the 24,000 strike price. A maximum put OI of 61.8 lakh contracts was seen at the 24,000 strike price.
Buzzing Index:
The Nifty PSU Bank index declined 0.87% to 8,329.05. The index rose 0.01% in the past trading session.
Bank of India (down 1.48%), State Bank of India (down 1.33%), Indian Bank (down 1.24%), Canara Bank (down 0.96%), Bank of Baroda (down 0.53%), Union Bank of India (down 0.49%), Central Bank of India (down 0.39%) and Punjab & Sind Bank (down 0.13%) declined.
Stock in Spotlight:
Diamond Power Infrastructure rose 2.27% after the company announced that it had completed its exit from the resolution framework under the Insolvency and Bankruptcy Code (IBC). The company said it has prepaid the entire Rs 501 crore cash consideration payable to its erstwhile lenders under the NCLT-approved resolution plan, along with redeemable bonds worth Rs 1,900 crore. The cash component was originally payable over five years, with the final instalment due on 30 September 2027. The company said it discharged the cash obligation in September 2026, one year ahead of schedule.
Issuer Rating - IND AAA/ Stable (reaffirmed) Basel III AT1 Bonds (Rs 4,500 crore) - IND AA+/Stable (assigned) Infrastructure Bonds (Rs 10,000 crore) - IND AAA/ Stable (reaffirmed) Basel III Tier 2 Instruments (Rs 9,500 crore) - IND AAA/ Stable (reaffirmed) Basel III AT 1 Bonds (Rs 12,000 crore) - IND AAA/ Stable (reaffirmed)