Market wrap today: SENSEX ends 350 pts lower, NIFTY50 closes at 22,698; IT stocks, Reliance among top losers

Investors also remained cautious ahead of the upcoming US Federal Reserve's policy meeting outcome, which is scheduled for release at 2 pm (ET) in the United States.

NSE data showed that the NIFTY50 index ended 0.2% or 50 points lower at 22,698.85 points after the trading session on Wednesday, in comparison to 22,749.75 points at the previous equity market close.

The BSE SENSEX closed 0.48% or 352 points lower at 73,246.03 points on October 28, in comparison to 73,598.67 points at the previous stock market close, according to the exchange data.

The strong momentum from Jio Platforms listing was countered by oil prices and the selling pressure in index heavyweights, as IT stocks like Infosys, TCS, HCL Tech, and other companies like Reliance dragged down the benchmark indices in Wednesday’s market.

Sectoral indices like Nifty Oil and Gas (-2.3%), Nifty IT (-2%), Nifty Energy (-0.9%), and Nifty Realty (-0.9%) were among the top losers, while Nifty Auto (1.6%), Nifty Consumer Durables (1.4%), and Nifty Media (1.4%) were among the gainers.

Investing.com data showed that Brent crude oil prices surged over 2% to hit a high of $116.35 per barrel on October 28, in comparison to $113.88 per bbl at the previous market close.

Latest reports from WSJ suggest that the United States have cautioned West Asian countries to be prepared for military escalations after the upcoming US midterm elections, which in turn have the potential to disrupt oil supply via the Strait of Hormuz.

Top gainers & losers today

Stocks like Infosys, Reliance, ONGC, Tech Mahindra, and Bharti Airtel were among the top losers on NIFTY50 as of the stock market close on Wednesday, October 28, 2026, according to NSE data.

Infosys lost 3.4%, Reliance lost 3.1%, ONGC lost 2.1%, Tech Mahindra lost 1.9%, and Bharti Airtel lost 1.5% as of Wednesday’s market close.

Others like Apollo Hospitals, Larsen & Toubro, Trent, SBI Life Insurance, and InterGlobe Aviation (IndiGo) were among the top NIFTY50 gainers on October 28.

Apollo Hospitals shares gained 4.4%, Larsen & Toubro gained 3.7%, Trent gained 3.3%, SBI Life Insurance gained 2%, and IndiGo gained 2% as of the stock market close.

Out of the 50 stocks listed on the NIFTY50 index, 26 stocks ended in the positive territory, while the remaining 24 stocks closed in the red zone.