- Summary
- The Sensex fell 460.30 points to close at 73,249.39 while the Nifty 50 lost 123.70 points to end at 22,687.65 on Thursday, 22 October 2026, a third straight day of losses as rising oil prices revived concerns about the inflation outlook.
- Broader markets fell harder than the headline indices, with the Nifty MidCap 100 down 0.87% and the Nifty SmallCap 100 down 1.17%, while Nifty IT, FMCG and Media led the sectoral declines and Nifty Pharma was the standout gainer.
- Colgate-Palmolive reported double-digit revenue growth with a ₹24 interim dividend, Swiggy narrowed its quarterly loss to ₹922 crore, and Infosys heads into Friday’s results with the street watching for a guidance cut.
- Brent crude climbed above $110 a barrel after Houthi drones struck Saudi Arabia’s Shaybah oilfield and Dammam airport, and the US ordered non-emergency government staff to leave the country.
The Sensex fell 460.30 points, or 0.62%, to close at 73,249.39, while the Nifty 50 ended 123.70 points, or 0.54%, lower at 22,687.65, extending the losing streak to three sessions as every rise in crude added to pressure on an oil-importing economy.
The weakness was broad. Nestle India, Eternal and HDFC Life Insurance Company were the top losers in the Nifty 50, and the steeper fall in midcaps and smallcaps showed investors trimming riskier positions first, a typical pattern when the macro backdrop turns uncertain.
Impact on the stock market
Sectoral gainers: Nifty Pharma rose the most among sectors, as investors moved towards defensive names whose earnings depend less on the economic cycle or on fuel costs.
Sectoral losers: Nifty IT, Nifty FMCG and Nifty Media declined the most, with FMCG under pressure as higher crude raises packaging and freight costs for consumer goods makers.
| Sector/Index | Performance |
| IT & BPM sector | -1.05% |
| Healthcare sector | 0.05% |
| Oil & Gas sector | -0.86% |
| Real estate sector | -0.30% |
| PSU Bank in India | 0.07% |
Top gainers today
Here are the stocks that delivered the Top gainers in today’s trading session. The table below lists each company along with its share price and percentage change for the day.
| Company | Share Price (in ₹) | Change % |
| Bajaj Finance | 942.10 | 1.74 |
| Cipla | 1,330.90 | 1.29 |
| UltraTechCement | 10,958.00 | 1.00 |
| ICICI Bank | 1,398.50 | 0.97 |
| Bajaj Auto | 10,155.00 | 0.82 |
Top losers today
Here are the stocks that saw the Top losers in today’s trading session. The table below lists each company along with its share price and percentage change for the day.
| Company | Share Price (in ₹) | Change % |
| Nestle | 1,189.90 | -2.78 |
| Eternal | 304.45 | -2.53 |
| HDFC Life | 528.35 | -2.09 |
| TMPV | 270.00 | -2.07 |
| Reliance | 1,184.50 | -2.03 |
Market aftermath: Impact on stocks
Colgate-Palmolive Q2: 12% Revenue Growth, a ₹24 Dividend and Thinner Margins
Colgate-Palmolive (India) reported net profit of ₹342 crore for the September quarter, up 4.2% from ₹328 crore a year earlier, or 5.5% excluding one-off items. Revenue from operations rose 12.2% to ₹1,705.7 crore from ₹1,520 crore, the second straight quarter of double-digit sales growth, with toothpaste volumes growing at a high single-digit pace led by the premium range and Colgate MaxFresh. Operating profit rose only 1.9% to ₹474 crore, and the margin narrowed to 28% from 31% as the company increased spending on advertising and premium products. The gross margin still improved by 0.4 percentage points to 69.6%, helped by its Funding the Growth cost programme. Managing Director Manish Anandani said the company expects “robust growth” ahead.
The board declared an interim dividend of ₹24 per share, a total payout of ₹653 crore, with 2 November 2026 as the record date and payment from 19 November. Ragini Gajaria has been appointed internal auditor, and Akash Parekh will succeed Gunjit Jain as executive vice president of marketing from 1 December. The stock closed 2.32% lower at ₹1,685 on the BSE before the numbers came out after market hours, so Friday’s session will show whether investors focus on the sales growth or the narrower margin.
Infosys Q2 Preview: The Street Watches for a Guidance Cut
Infosys reports its September-quarter results on Friday, 23 October, after market hours. Brokerages expect revenue growth of about 1.5-1.7% from the previous quarter in constant currency terms, which excludes the effect of exchange rate movements, along with better margins and an adjusted profit increase of around 10%. Large deal wins are expected in the $2.5-3 billion range. Nuvama estimates operating profit at ₹10,541 crore with a 21.4% margin, while Mirae Asset Sharekhan expects profit of ₹8,094 crore, up 9.9% year-on-year.
The guidance is the key number. Nuvama expects the full-year revenue growth forecast to be cut to 1-2.5% from 1.5-3%, and Mirae Asset Sharekhan sees 1.5-2.5%. Deven Choksey Research expects an in-line quarter with revenue of ₹49,211 crore, but warns of a deeper cut if softer demand from retail and communication clients in September carries into the second half. With Nifty IT already among the day’s weakest sectors, Infosys’s outlook could set the direction for IT stocks next week.
Swiggy Q2: Loss Narrows to ₹922 Crore as Revenue Jumps 36%
Swiggy narrowed its consolidated net loss to ₹922 crore from ₹1,092 crore a year earlier, as revenue from operations rose 36.1% to ₹7,571 crore from ₹5,561 crore. Total expenses rose to ₹8,703 crore from ₹6,711 crore, which kept the company loss-making. Food delivery remained the profit engine, with order value up 17.7% to ₹10,054 crore and adjusted operating profit up ₹101 crore to ₹341 crore, at a 3.4% margin. The out-of-home business, covering dining out and events, grew 34.9% to ₹1,508 crore and was profitable for a seventh straight quarter.
Instamart continues to drive both growth and losses. Its net order value rose 31.4% year-on-year and 13.4% sequentially to ₹6,954 crore, and it added 69 dark stores (warehouses that serve only online orders) to reach 1,240. The business still lost ₹895 crore in the quarter. Chief Executive Sriharsha Majety said Swiggy has received approvals to qualify as an Indian-owned and Indian-controlled company, and that he believes differentiation, rather than speed or selection, will decide the winners in quick commerce.
Crude Oil: Brent Above $110 as Attacks on Saudi Arabia Intensify
December Brent futures rose 1.85% to $110.83 at 10.02 am, and WTI rose 1.52% to $98.63, after Houthi drones struck the Shaybah oilfield and Dammam’s international airport. On the MCX, November crude futures traded at ₹9,340, up 1.43% from ₹9,208. Saudi Arabia said its production was not affected. However, the US State Department ordered non-emergency government personnel to leave the country, which ING’s commodity strategists said points to little improvement in West Asian tensions and possibly further escalation.
The supply data also supported prices. US commercial crude inventories fell 3.1 million barrels to 412.5 million, 3% below the five-year average, and gasoline stocks fell 3 million barrels. For India, crude at these levels raises the import bill, puts pressure on the rupee and increases inflation risk. These are the same concerns that pushed the indices lower for a third day.
Conclusion
Thursday was a session driven by oil. The Sensex lost 460 points, midcaps and smallcaps fell more than 1% at their worst, and consumer and IT stocks led the declines as Brent held above $110. Company results were mixed: Colgate grew sales but gave up margin to fund advertising, and Swiggy showed its losses narrowing while Instamart still needs heavy investment. The next checkpoints are close. Infosys’s guidance on Friday will set the tone for IT stocks, and developments in Saudi Arabia will determine whether crude eases or climbs further. Until oil prices settle, the market is likely to react to news from the Gulf.
