Nifty Sensex Today: Stock Market Crashes as Sensex Falls 876 Points, Nifty Drops 1.11%; Banking and IT Stocks Lead the Losses

19 Oct 2026 , 06:36 PM

The Indian stock market fell sharply on Monday, October 19, 2026 as the weakness in banking, information technology and FMCG stocks dragged the indices lower. The sell-off came after a healthy run in the previous week, with disappointing reactions to private banks’ Q2 FY27 results, foreign investor outflows and rising crude oil prices.

BSE Sensex dropped 876.37 points or 1.17% to close at 73,852.90. NSE Nifty 50 slipped 257.20 points or 1.11% to close at 22,888.95. Bank Nifty index declined 355.9 points or 0.64% to 55,488.10.

Banking stocks fell on the back of quarterly results of Axis Bank and HDFC Bank while IT stocks reacted negatively to the previous day’s gains and FMCG stocks continued their weakness.

Stock Market Today: Key Highlights

• Sensex drops 876 points: The index fell 1.17% to 73,852.90
• Nifty falls below 23,000: The benchmark closed 1.11% lower at 22,888.95
• Bank Nifty drops: The banking index declined 0.64% to 55,488.10
• Private banks fall: Axis Bank fell  4.19% and HDFC Bank dropped 2.31%
• IT stocks dip: Infosys down 2.63% and LTM down 2.85%
• FMCG stocks decline: Sector drops 1.44%
• Crude oil: Brent crude near $107 per barrel
• Profits booked: After Nifty’s more than 2% rally on Thursday and Friday, investors rushed in to book profits

Why Did the Stock Market Fall Today?

1. Banking Stocks Slide After Q2 Results

Banking stocks were among the major drags in Monday’s session as the investors reacted to the quarterly results of private banks, including Axis Bank and HDFC Bank. These stocks, which had seen sharp gains recently, declined following mixed reactions at results. The Axis Bank share price fell 4.19%, and the HDFC Bank share ended 2.31% lower on Monday. ICICIBank and Kotak Mahindra Bank declined on the day, too. Axis Bank Q2 FY27: The bank reported a 38% YoY increase in the net profit to ₹7,003 crore for Q2 FY27. However, the result did not match investors’ estimate of ₹7,124 crore. Concerns around the reported net interest margin, fee income, operating expense and loan-to-deposit ratio dented its share price.

HDFC Bank Q2 FY27: The net profit for the bank rose 4.7% to ₹19,510 crore on the back of rising deposits and advances. The bank’s deposit base grew 18.8% per year, while gross advances rose 16.3% YoY. However, concerns about the slow growth in the bank’s profitability and a change in its funding mix dragged its shares lower.

2. HDFC Bank’s Profit Growth Trails Business Expansion

According to the results, HDFC Bank’s gross advances grew 16.3% for the second quarter, and the bank’s net interest income rose 9.7% to ₹34,620 crore. In spite of this, worries about treasury-related earnings, other income and operating expenses held the bank’s share price back. The bank’s current account and savings account (CASA) ratio has dropped to 31.6% as compared to 33.9% a year ago.

In other words, the bank has fewer low-cost CASA deposits relative to its term deposits. The growth in its profits, excluding the impact of treasury trading gains, was 12.6%. Investors closely watched the results, to observe whether there continues to be pressure on the bank’s cost of deposits and whether it has the ability to convert its business growth into profitability.

3. Elevated Crude Oil Prices Add to Market Concerns

Brent crude remained well above $107 per barrel on Monday, despite the weakness in energy prices witnessed in the day’s session. There are concerns about tensions in and around the Strait of Hormuz raising the risk of a disruption in energy supplies. Higher crude oil prices impact India’s economy through its import bill, inflation and the rupee’s value. The prices of stocks of companies engaged in transporting goods and services, airlines and energy are particularly sensitive to rising crude oil prices. It remains to be seen how long these prices will stay elevated and what impact they might have on the Sensex and Nifty.

4. Foreign Investor Outflows Weigh on Sentiment Foreign Portfolio

Investor selling also weighed on the market sentiment, with their buying of approximately ₹1,166 crore on Friday coming too late. While the foreign fund inflow, albeit small, was a relief, it was too little too late. Foreign selling has put pressure on large-cap stocks and amplified the decline. Investors will closely watch whether the FII selling continues in the upcoming sessions as it may continue to impact the equity markets adversely.

5. IT Stocks Give Up Previous Session’s Gains

IT stocks declined on Monday after a strong performance in the previous session. The IT Sector ended 1.28%. On the flipside, the Friday’s 3.92% rise was erased on Monday’s weakness. Infosys shares closed 2.63% lower at ₹1,130.70, while LTM fell 2.85% to ₹4,264.90. Wipro too closed lower on the day. Concerns about technology stocks and artificial intelligence-related stocks, in addition to profit booking, pulled the IT sector down.

FMCG was also among the laggards, with the sector closing 1.44%. Stocks declined across multiple sectors indicating that investors were not willing to take on any risk without adequate reward. They were booking profits from their previous investments.

Sensex and Nifty Today: Market Performance

Here’s a quick summary of theSensex and Nifty 50, along with other key indices’ movements today.

Index	Closing Level	Change	Percentage Change
BSE Sensex	73,852.90	−876.37 points	−1.17%
Nifty 50	22,888.95	−257.20 points	−1.11%
Bank Nifty	55,488.10	−355.90 points	−0.64%

Top Banking and IT Stocks Today

The following closing prices and percentage changes are based on the market data for October 19, 2026.

Stock	Closing Price	Change
Axis Bank	₹1,236.00	−4.19%
HDFC Bank	₹712.00	−2.31%
ICICI Bank	₹1,381.00	−1.15%
Kotak Mahindra Bank	₹442.30	−1.14%
Infosys	₹1,130.70	−2.63%
Wipro	₹182.14	−1.23%
LTM	₹4,264.90	−2.85%

Nifty 50 and Bank Nifty: Key Support and Resistance Levels

Support and resistance levels for the Nifty 50 and Bank Nifty, based on the market data available.

Index	Closing Level	Support	Resistance
Nifty 50	22,888.95	22,800	23,000
Bank Nifty	55,488.10	55,200	55,700

The Nifty 50 closed below the 23,000 level today, which makes it an important reference for the next trading day. According to today’s data, 22,800 is the support level to watch out for. As regards the Bank Nifty, there is expectation that the index is to trade between 55,200 and 55,700 for the next couple of days. Please note that these are just reference points, and that they do not guarantee any specific level of support/resistance.

What Should Investors Watch Next?

The market’s near-term performance will be dictated by the results of the Q2. Earnings reports will have to beat estimates to give momentum to the Sensex and Nifty. Similarly, private banks will have to report stable profitability and stable advances in order to restore confidence. Investors will also have to assess the price of Brent crude in light of potential geopolitical events on the horizon. In addition, foreign investors may continue to put pressure on the market. The IT sector, which witnessed strong gains during the past week, may also experience profit booking soon. Lastly, keep an eye on the technical indicators, to see whether the Nifty will be able to move above 23,000 or it will test the support level of 22,800. The market will remain closed on Tuesday on the event of Dussehra.

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