Sensex declines 353 points, dragged by Reliance, IT stocks, rising crude oil prices
Indian stock markets experienced a decline as investors reacted to rising crude oil prices and caution ahead of the U.S. Federal Reserve's policy decision. Despite the broader market dip, Jio Platforms saw a strong market debut.
Why it matters
Market volatility in India reflects global economic pressures, particularly the impact of energy costs and central bank interest rate expectations.
Mumbai Market benchmark indices Sensex and Nifty ended lower on Wednesday (October 28, 2026), dragged down by Reliance Industries, IT companies, rising crude oil prices and caution ahead of the U.S. Federal Reserve's policy decision. The 30-share BSE Sensex dropped 352.64 points, or 0.48%, to settle at 73,246.03, recovering most of its sharp intraday losses. During the day, it tumbled 995.1 points, or 1.35%, to 72,603.57. The 50-share NSE Nifty was down 50.90 points, or 0.22%, to end at 22,698.85. Shares of Jio Platforms, the Reliance Industries-backed digital services company, made a blockbuster debut on Wednesday (October 28). The stock ended nearly 27% higher against the issue price of ₹1,119, becoming the second most valuable domestic firm after Reliance Industries by market capitalisation. Jio Platforms commanded a market valuation of ₹13 lakh crore.
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