SENSEX falls over 500 pts, NIFTY below 22,700 in noon deals; IHCL, Tata Teleservices, Swiggy among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, continued their downward trend during the afternoon session on Thursday, October 22, as global crude oil prices surged over 3% to more than $112 per barrel (bbl) and the rupee weakened.

The SENSEX dropped as much as 0.96% to hit an intraday low of 73,005.11. Meanwhile, the NIFTY50 tumbled as much as 1.12% to touch the session’s low of 22,554.85.

At 1:43 PM, the S&P BSE SENSEX was trading at 73,158.28, down by 551.41 points, or 0.75%, while the NSE’s NIFTY50 stood at 22,615.70, reflecting a 195.65-point, or 0.86% fall.

The top losers in the NIFTY50 index included Nestle India, HDFC Life Insurance Company, Coal India, Tata Motors PV, and HDFC Bank.

On the other hand, Bajaj Finance, Bajaj Auto, Bharti Airtel, Larsen & Toubro (L&T), and UltraTech Cement were among the top gainers.

Buzzing stocks on October 22: Check list

Shares of Nestle India and Zydus Wellness declined on Thursday, October 22, as food regulator FSSAI issued notices to Nestle India and Zydus Wellness over "misleading claims" in certain products and asked the companies to provide scientific proof to support their advertisements.

In a social media post, the Food Safety and Standards Authority of India (FSSAI) said it has issued notices to Nestle India for misleading claims and non-compliant promotions involving two food products, 'Lactogen Pro 1 Powder' and 'Nan Excella Pro Stage 1'.

The stock of Indian Hotels Company Ltd (IHCL) jumped as much as 5.53% to hit a 52-week and intraday high of ₹794.65 per equity share on the National Stock Exchange (NSE) on Thursday, October 22, a day after the hospitality company reported robust earnings for the July-September quarter of the 2026-27 financial year (Q2 FY27), posting a 22.7% year-on-year (YoY) surge in its consolidated net profit to ₹349.49 crore, as against ₹284.92 crore in the same period last year.

The company saw its consolidated revenue from operations climb 21.73% YoY to ₹2,484.32 crore during the quarter under review, from ₹2,040.89 crore in the second quarter of the 2025-26 fiscal year (Q2 FY26).

Shares of Tata Teleservices (Maharashtra) rallied over 9% on Thursday, as the company reported a decline in its net loss to ₹59.20 crore in Q2 FY27, from a loss of ₹320.82 crore in the year-ago period.

It also saw its revenue from operations jump 8.2% YoY to ₹309.65 crore in the September FY27 quarter, compared with ₹286.13 crore in Q2 FY26.

The stock of Redington, the official reseller of Apple products in India, rose as much as 3.4% to hit an intraday high of ₹373.85 per equity share on Thursday, as Apple’s first foldable iPhone, called iPhone Duo, is set to go on general retail sale in India tomorrow, Friday, October 23, 2026.

The pre-order for the phone began on October 16 in more than 70 countries, including India, with availability starting tomorrow.

iPhone Duo is available in Star White and Night Sky, and starts at ₹2,99,900 in 256GB, 512GB, 1TB, and 2TB storage capacities.

iPhone Duo will be available at apple.com/in and at its selected partner stores, along with all Apple Store locations from Friday onwards.

PC Jeweller shares rallied as much as 10.74% to hit a 52-week and intraday high of ₹20.10 apiece on the NSE, a day after it posted its Q2 FY27 earnings. However, the stock later pared its gains and was trading in the red zone.

The company saw its consolidated net profit surge 57.99% YoY to ₹331.08 crore, compared with ₹209.56 crore in the corresponding period of the preceding fiscal year.

Its consolidated revenue from operations or sales advanced by 27.8% YoY to ₹1,054.47 crore for the reporting quarter, as against ₹825.25 crore in the September quarter of FY26.

NSE stock was trading in negative territory on the BSE on October 22 after a one-month shareholder lock-in period ended.

As many as 18.9 million equity shares of NSE were freed up for trade as the one-month lock-in period ended on October 22, according to Nuvama Alternative & Quantitative Research.

It should be noted that the end of the lock-in period means that shares will become eligible for trading. It does not imply that shares will be sold in the open market.

Swiggy shares tumbled as much as 6.25% to hit a fresh 52-week low of ₹209.65 apiece on the NSE on October 22, ahead of its September quarter earnings announcement, which it is set to report today.

The key monitorable for investors is whether Swiggy can accelerate growth in its quick-commerce business, Instamart, without significantly widening losses.

Investors will also track the pace of improvement in profitability, trends in food-delivery growth and margins, and how the company's performance compares with rival Eternal, which operates Zomato and Blinkit.

The stock of International Gemological Institution Ltd (IGIL) hit its 10% upper circuit at ₹353.20 per equity share, as it recorded a 43.2% YoY surge in its consolidated net profit to ₹185.84 crore in Q2 FY27, compared with ₹129.79 crore in the same period last year.

Its revenue from operations stood at ₹3,980 crore for the reporting quarter, marking a 31% YoY increase from ₹3,037 crore in Q2 FY26.

Balkrishna Industries stock rose as much as 4.4% to reach the session's peak of ₹2,128.80 per equity share, after the company announced a major collaboration with Pirelli, which is one of the world’s largest tyre manufacturers based in Milan, Italy.

The company’s exchange filing read, “Pirelli and Balkrishna Industries Ltd. (BKT) have signed a strategic agreement aimed at capturing the opportunities offered by the Indian car tyre market, one of the most dynamic and promising at the global level. India is today one of the most attractive automotive markets in the world, with car registrations estimated to increase by 5-7% annually from 2025 to 2030 and a premium Car tyre market seen growing almost fivefold."

Shares of AI-powered customer experience solutions provider Fusion CX debuted at ₹305 apiece on the NSE on Thursday, October 22. This reflects a premium of 5.54% over the IPO issue price of ₹289 per share. On the BSE, the stock started trading at ₹292 per share, up 1.04% from the issue price.

A lot consisted of 51 shares and cost ₹14,739. Investors who received the Fusion CX IPO allotment made ₹816 per lot, taking the value of their investment to ₹15,555, as per the listing price on the NSE.

The ₹702 crore initial public offering was a mix of a fresh issuance of 1.73 crore shares totalling ₹500 crore and an offer for sale (OFS) component of ₹202 crore by promoters PNS Business and Rasish Consultants.