Why Is Stock Market Down Today, September 28, 2026?
Sensex tanked over 1,000 points and Nifty 50 slipped below 22,850 on September 28, 2026. Crude near USD 107, US bond yields above 5.2% and heavy FII selling wiped out around INR 7.5 lakh crore of investor wealth.
Why is the stock market down today, September 28, 2026? Indian equity benchmarks opened the week on a brutal note, with the BSE Sensex plunging by more than 1,000 points and the NSE Nifty 50 sliding below the crucial 22,850 mark to touch levels close to a six-month low. A toxic mix of surging crude oil prices, US Treasury yields at multi-decade highs, continued foreign fund exits and a weakening rupee triggered a broad-based sell-off, leaving no major pocket of the market untouched and wiping out roughly INR 7.5 lakh crore in investor wealth within hours.
By midday, the 30-share Sensex was trading around the 72,926 mark, down 1,064 points or 1.31 per cent, while the Nifty 50 lost 1.33 per cent to hover near 22,831.
Wealth Erosion on Dalal Street
The combined market capitalisation of BSE-listed companies dropped to INR 475.75 lakh crore from INR 483.25 lakh crore at Friday's close, translating into a single-session loss of about INR 7.5 lakh crore for investors. Jio Financial Services Stock Update: Shares Hit New 52-Week Low.
Reasons Why the Market Is Falling Today
Brent crude oil climbed to nearly USD 107 per barrel amid escalating tensions in West Asia and supply disruption fears around the Strait of Hormuz. With India importing more than 85 per cent of its crude requirement, costlier oil raises the risk of a wider trade deficit and higher domestic inflation.
US bond yields, meanwhile, pushed past 5.2 per cent, a level last seen in 2004. Such yields make emerging-market equities less attractive and push global fund managers towards dollar-denominated fixed-income assets. Reliance Industries Stock Update: Share Price Slips Near 52-Week Low.
Foreign institutional investors (FIIs) extended their heavy net-selling streak in Indian equities, piling pressure on large-cap stocks. The Indian rupee also stayed under pressure against a stronger US dollar, hurting sentiment in import-dependent sectors.
Sensex and Nifty Top Losers
All 30 Sensex constituents traded in the red. Tech Mahindra, Sun Pharma, Bharti Airtel and Infosys were the biggest laggards on the BSE benchmark.
On the NSE, Adani Enterprises, Adani Ports, Tata Motors Passenger Vehicles (TMPV) and Tata Consumer Products were among the steepest drags on the Nifty 50.
Banks, Realty and Metals Under Pressure
Banking stocks led the sectoral decline, with the Nifty PSU Bank index crashing over 2.5 per cent. Private banks, realty, metal and auto indices also witnessed sharp cuts.
Midcaps and Smallcaps Not Spared
The sell-off spilled over to the broader market as well. The Nifty Midcap 100 slipped 1.32 per cent, while the Nifty Smallcap 100 declined 1.45 per cent. The Nifty 100, Nifty 200 and Nifty 500 indices fell between 1.36 per cent and 1.38 per cent.
Market Breadth Turns Negative
Market breadth on the BSE was firmly in favour of the bears, with 2,896 stocks declining against 1,296 advancing, while 266 stocks remained unchanged. A total of 192 stocks hit their upper circuit and 190 touched their lower circuit. While 151 stocks marked fresh 52-week highs, 149 slipped to new 52-week lows.
(The above story first appeared on LatestLY on Sep 28, 2026 03:13 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
