Market Wrap, Oct 12: SENSEX falls 548 pts, NIFTY50 ends at 22,363 as crude prices rise; NIFTY Smallcap 100 outshines

The Indian stock market closed in red on Monday, October 12, tracking its Asian peers and crude oil prices crossed $105 per barrel. The equity benchmark indices were also weighed down by banking and FMCG stocks.

Global crude oil prices jumped above $105 per barrel (bbl) on Monday, as energy prices retracted from their previous evening highs of $103.55 per bbl.

The banking stocks declined on Monday, dragging down the sectoral benchmark index as investors focused on the latest updates from the central bank, which seeks to tighten liquidity in the system.

Latest updates showed that over the weekend, the Reserve Bank of India (RBI) announced a series of moves to curb liquidity in the Indian banking system amid elevated inflation concerns in the economy.

“For equities, I don't expect a sharp sell-off, but the easy money phase is behind us. Since early 2025, a good part of the rally was supported by the expectation of lower rates. That support is now gone, and stock prices will have to be backed by earnings. Mid and small caps, where valuations had run ahead of fundamentals, will feel this the most. Large caps with steady cash flows should hold up better,” said Naresh Biyani Founder & CEO of Capwise Financial Services.

The market investors remained concerned as FPIs pulled out ₹44,166 crore from Indian equities so far in October, bringing the total outflows this year to more than ₹3 lakh crore.

Globally, most of the indices in Asia ended with losses on Monday as earnings season loomed, while oil prices gained.

Japan's Nikkei slipped marginally by 0.02%, China’s Shanghai Composite fell 0.44%, and South Korea’s Kospi tumbled 3.79%. Hong Kong's Hang Seng index rose slightly by 0.04%.

Here are the key developments of Monday's session that you need to know

As many as 3,706 stocks traded on the NSE on Monday. Out of these, 1,795 advanced and 1,798 stocks declined, while 113 scrips remained unchanged.

A total of 76 stocks hit their 52-week highs, while 140 stocks touched their one-year lows. Besides, 124 stocks hit their upper circuit limits, and 104 touched their lower circuit bands on Monday.

The market capitalisation of NSE-listed firms stood at ₹461.1 lakh crore at the close of the session.

India VIX, the volatility gauge, stood at 15.24 levels, gaining 5.98%.

The broader market, however, outperformed the main indices, with the Nifty Midcap 100 rising 0.08% to settle at 58,834.55, while the Nifty Smallcap 100 surged 1.42% to end at the 19,425.80 level.

Among sectors, NIFTY FMCG (-1.67%), NIFTY PSU Bank (-1.18%), NIFTY IT (-0.79%), NIFTY Oil and Gas (-0.44%) and NIFTY Private Bank (-0.37%) constituted the losers’ pack.

NIFTY Media (4.6%), NIFTY Auto (0.9%), NIFTY Realty (0.76%) and NIFTY Pharma (0.45%) were the only gaining sectors on Monday.

On the NIFTY50 index, 36 stocks closed in red, while 13 advanced by the end of the session.

On the other hand, Dr. Reddy's Laboratories (2.71%), Bajaj Auto (2.62%), Tata Motors PV (1.63%), Bharat Electronics (1.56%) and BSE (1.31%) were the top gainers on the 50-share index.