Taking Stock: Nifty at over 2-month low, Sensex tanks 931 pts amid broad-based sell-off

Market Today

Extended selling in the broader markets, poor global cues and weak sectoral performance weighed on the Indian benchmark indices on October 22, dragging the Nifty below 24,500.

At close, the Sensex was down 930.55 points or 1.15 percent at 80,220.72, and the Nifty was down 309.00 points or 1.25 percent at 24,472.10.

Adani Enterprises, M&M, Bharat Electronics, Coal India, Tata Steel were among the top losers on the Nifty, while gainers included ICICI Bank, Nestle India, Infosys.

All the sectoral indices ended in the red with auto, capital goods, metal, power, realty, telecom, media and PSU bank down 2-3 percent.

BSE Midcap index shed 2.5 percent and Smallcap index declined 3.8 percent.

More than 160 stocks touched their 52-high on the BSE, including, GFL, IFB Industries, Indigo Paints, Maharashtra Scooters, MCX India, Orient Cement, Pilani Investments, SJS Enterprises, Torrent Power, Unichem Labs, Whirlpool, among others. Click To View More

On the other hand, more than 150 stock touched their 52-low on the BSE, including, Anupam Rasayan, Aptech, Coffee Day, CSB Bank, Easy Trip Planners, Equitas Bank, HLE Glascoat, IDFC First Bank, IndusInd Bank, ITI, Mishra Dhatu Nigam, MTAR Technologies, PNC Infratech, RBL Bank, Repro India, Satin Credit, Shalimar Paints, Shankara Building, Sheela Foam, Tanla Platforms, Ujjivan Small, Vodafone Idea, Zee Entertainment, among others. Click To View More

Outlook for October 23

Index	Prices	Change	Change%
Sensex	84,466.51	595.19	+0.71%
Nifty 50	25,875.80	180.85	+0.70%
Nifty Bank	58,274.65	136.50	+0.23%

Nifty 50 25,875.80 180.85 (0.70%)

Wed, Nov 12, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Adani Enterpris	2,484.50	117.70	+4.97%

Biggest Loser	Prices	Change	Change%
Tata Steel	178.61	-2.43	-1.34%

Best Sector	Prices	Change	Change%
Nifty IT	36855.40	738.50	+2.04%

Worst Sector	Prices	Change	Change%
Nifty Metal	10542.50	-16.60	-0.16%

Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

Nifty opened gap up however as the day progressed selling pressure intensified, and Nifty closed down ~309 points. On the daily charts Nifty has slipped decisively below the 20-week average (24718) which is a sign of weakness. Daily and hourly momentum indicators possess a negative crossover which is a sell signal. Thus, both price and momentum indicator suggest towards weakness. On the downside, we expect the Nifty to drift towards 24000 where there is a high concentration of open interest on the put side implying support. On the upside, 24900 – 25000 shall act as a crucial resistance from short term perspective.

Bank Nifty which was holding on till yesterday also broke down and witnessed a sharp selling pressure. We expect weakness to have a rub off effect on the Banking stocks as well. On the downside, support is placed at 51000 below which it can slip towards 50200. On the upside 51800 – 51900 shall act as an immediate hurdle zone.

Aditya Gaggar Director of Progressive Shares:

Mayhem continued in the Mid and Smallcap segments which led to a freefall across the board and without any pullback move, the Index compounded its losses throughout the day to end the trade at 24,472.10 with a loss of 309 points. All the sectors ended in the red where PSU Banks and Realty were the major laggards. The weak link of the markets i.e. Mid and Smallcaps tumbled by 2.61% & 3.92% and underperformed the Frontline Index.

In the series of lower highs and lower lows, the Index has made another bearish candle, indicating the tightening of the bear's grip. Considering the oversold conditions in the Mid and Smallcap segments, a short-term bounce can be expected in the markets which may push the Index higher but the upside seems to be capped at 24,670, while on the flip side, the Index is close to its support zone of 24,370-24,430.

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