Sensex Plunges 1,040 Points as Oil, FPI Selling Hit

Indian Market: Dalal Street faced heavy selling pressure on September 28, 2026, with the Sensex falling as much as 1,040 points (1.40%) to 72,921.75, while the Nifty 50 declined 307 points (1.32%) to 22,833.80. BSE-listed market capitalisation fell by around ₹5.82 trillion, from ₹481.88 trillion to ₹476.06 trillion, while midcap and smallcap indices also declined around 1%. The selloff was driven by a combination of West Asia geopolitical tensions, rising crude oil prices, elevated global bond yields and continued foreign selling. Brent crude moved above $106 per barrel after renewed uncertainty around the Strait of Hormuz, increasing concerns over India’s import bill, inflation and corporate margins. Foreign investor outflows remain another major pressure point, while the Nifty’s break below the 23,000 level has weakened the near-term technical setup. Market commentary identifies 23,000 as an important support, with further downside levels being watched around 22,800 if selling persists. Stock/Market Commentary: NIFTY/SENSEX: The sharp fall reflects a combination of geopolitical risk, expensive crude, global yield pressure and FPI selling rather than a single domestic trigger. The 23,000 Nifty zone remains an important technical level to watch.