Market wrap, Oct 23: SENSEX falls 126 pts, NIFTY50 ends at 22,600 as crude prices jumps over $114/bbl; NIFTY Smallcap 100 underperforms

The Indian stock market ended in red for the fourth consecutive session on Friday, October 23, as investors turned cautious on rising crude oil prices. Declines in FMCG, oil and gas and consumer durable stocks also weighed on the benchmark indices.

The decline in oil prices comes after US President Donald Trump determined that petroleum production and refining were essential to national defence, opening the door for more US fossil fuel projects.

According to exchange data, on Thursday, the foreign institutional investors (FIIs) sold shares worth ₹3,458.70 crore, while the domestic institutional investors (DIIs) bought equities worth ₹2,891.32 crore on a net basis.

Globally, most of the indices in Asia stocks reversed losses on Friday and ended in green as a rout in technology and artificial intelligence valuations halted. 

Japan's Nikkei fell 0.51%, Singapore's Straits Times rose 0.13%, while Hong Kong's Hang Seng gained 0.73%, and China's Shanghai Composite rose 0.88%.

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

As many as 3,724 stocks traded on the NSE on Friday. Out of this, 624 advanced and 3,011 stocks declined, while 89 scrips remained unchanged.

This indicated that the market breadth was in favour of declines.

A total of 23 stocks hit their 52-week highs, while 655 stocks touched their one-year lows. Besides, 47 stocks hit their upper circuit limits, and 308 touched their lower circuit bands on Friday.

The market capitalisation of NSE-listed firms stood at ₹447.97 lakh crore at the close of the session. In the last four sessions (including today's loss) MCap of BSE listed companies has fallen by ₹21,63,538 crore (21.63 lakh crore) as per BSE data.

India VIX, the volatility gauge, stood at 16.76 levels, surging 6.31%.

The broader market underperformed, with the Nifty Midcap 100 falling 2.21% to settle at the 55,800.65 level, while the Nifty Smallcap 100 dropped 2.94% to end at the 17,739.45 level.

All the sectors ended the session in red with NIFTY Metal (-2.71%), NIFTY Consumer Durables (-2.63%), NIFTY Realty (-2.38%), NIFTY PSU Bank (-2.26%) and NIFTY Pharma (-1.04%) being the top losers.

On the NIFTY50 index, 36 stocks closed lower, while 14 advanced by the end of the session.

Shriram Finance was the biggest laggard, falling 3.98%, followed by Adani Enterprises (-2.86%), JSW Steel (-2.83%), Jio Financial Services (-2.74%) and Tata Steel (-2.7%).

On the flip side, Eternal (-4.25%), Apollo Hospitals (1.65%), ONGC (1.11%), Asian Paints (0.97%) and TCS (0.92%) were the top gainers on the 50-share index.