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Sensex Drops 450 Points at Open, Nifty Trades Near 22,620 Amid RBI Policy Focus
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News18•07-10-2026, 10:59
Sensex Drops 450 Points at Open, Nifty Trades Near 22,620 Amid RBI Policy Focus
- •The Indian stock market opened weak on Wednesday with the Sensex falling about 450 points and Nifty hovering near the 22,620 mark.
- •Heavy selling was observed across banking, auto, and metal sectors, with Titan shares plunging over 4 percent due to Q2 growth concerns.
- •Market sentiment was weighed down by rising crude oil prices, a weakening rupee, US bond yields, and continuous selling by foreign investors.
- •Investors are closely monitoring the upcoming RBI Monetary Policy Committee decision and RBI Governor Sanjay Malhotra's statements.
- •Despite early sharp losses, the market later showed some recovery with Sensex and Nifty paring losses by mid-morning.
Key Questions Answered
Trading on October 7, 2026, began on a weak note as the Sensex slumped by about 450 points and the Nifty traded near 22,620. The primary reasons for the fall included rising crude oil prices, a weaker rupee, increasing US bond yields, and continuous selling by foreign investors.
Titan Company shares fell 4.11% to Rs 4,363 because its second-quarter jewelry business growth fell short of some brokerages' estimates, alongside a softer buyer count and shifting festive demand patterns.
Despite the initial decline, stocks like Dr Reddy's Laboratories rose 1.06%, Coal India gained 0.95%, Bajaj Finance went up 0.89%, and Bharti Airtel rose 0.74%. By late morning, both the Sensex and Nifty also recovered from their lower levels.
