Stock markets tumble on oil price spike, FII outflows; Sensex drops 548 points
The Indian stock market experienced a significant decline as the Sensex dropped nearly 548 points due to rising oil prices and foreign institutional investor outflows. Analysts point to macroeconomic concerns and potential RBI rate hikes as primary drivers for the market volatility.
Why it matters
Market volatility and inflation concerns directly impact the broader Indian economy and investor sentiment.
Benchmark stock index Sensex fell nearly 548 points to settle below 72,000 on Monday (October 12, 2026) as selling in banking, FMCG and IT shares weighed on the market amid rate-hike concerns, a spike in crude prices and unabated foreign fund outflows.
Erasing opening gains, the 30-share BSE Sensex tumbled 547.65 points, or 0.76%, to settle at 71,924.68. During the day, it slumped 796.23 points, or 1%, to 71,676.10.
The 50-share NSE Nifty dropped 157.10 points, or 0.70%, to end at 22,363.35.
Among the 30 Sensex firms, ITC was the biggest loser, dropping by 3.23%. Tech Mahindra (-3.1 per cent), Hindustan Unilever (-2.1 %), Larsen & Toubro (-1.87%), State Bank of India (-1.78%) and Tata Consultancy Services (-1.67%) were among the major laggards.
Bharat Electronics, Mahindra & Mahindra, Kotak Mahindra Bank and HCL Tech were among the major winners.
Also covering this story
4 other newsrooms covered this event. We read each version separately.
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