The Nifty Fell 2.4%, Small Caps Fell 7.3%: Four Sessions, Four Falls as Oil Hit a Six-Month High; Nifty −2.36% to 22,600, Sensex −2.15% to 73,124
NeutralThe Nifty 50 fell 2.36% to 22,600.00 and the Sensex 2.15% to 73,123.83 in a four-day week, falling in every session. The real damage was below the top: the Nifty Midcap 100 fell 5.6% and the Smallcap 100 7.3%, reported as their worst week in 20 months. HDFC Bank and Axis Bank results missed estimates and Bank Nifty fell 2.78%; Nifty IT, up 0.2%, was the only sector to rise. Brent crude settled at $116.72, up 6.2%, after Houthi attacks on Saudi oil sites, and the 10-year yield rose to 7.47%. Foreign investors sold a net ₹2,697 crore and domestic institutions bought ₹10,942 crore. The Jio Platforms IPO was subscribed about 21 times and lists on 28 October; the Fed meets on 27 and 28 October.
Key Points This Week
- 1Nifty −2.36% to 22,600.00 and Sensex −2.15% to 73,123.83 · daily Nifty path: −257.20, holiday, −77.60, −123.70, −87.65; every session reconciles on both indices
- 2Nifty Midcap 100 −5.6%, Smallcap 100 −7.3% · 43 of 50 Nifty stocks fell · Swiggy −24.9%, Himadri Speciality −25.5% · Nifty IT +0.2%, the only sector up
- 3Bank Nifty −2.78% after HDFC Bank (profit ₹19,509 Cr, +4.6%) and Axis Bank (₹7,003 Cr, +38%) missed estimates · Bajaj Finance profit +29% yet stock −5.4%
- 4Brent $116.72 (+6.2%), highest close since April · 10-year yield 7.47% · rupee 94.94, flat · forex reserves $721.02bn, sixth weekly fall
- 5FIIs −₹2,697 Cr, DIIs +₹10,942 Cr (NSE provisional) · S&P 500 −0.5%, Nasdaq −0.7%, Dow +0.4%, Nikkei about −4% · Jio IPO about 21x, lists 28 October
SIP Investor Advice
Last week the Nifty rose 2.78% while small caps rose 0.36%. This week the gap ran the other way and was wider: the Nifty fell 2.36% and the Smallcap 100 7.3%. A portfolio heavy in small and mid-cap funds will have felt this week much more than the news suggested. That is not a sign that anything is broken; smaller companies have always moved more than large ones, in both directions. Nothing here calls for stopping a SIP, and when prices fall the same instalment buys more units. What a week like this does show is whether the mix in a portfolio matches your comfort. If you were not allotted Jio shares, the refund arrives on 27 October; let it go back to the purpose it was set aside for. Speak to your Relationship Manager if your portfolio leans heavily to mid and small caps or a near goal needs a second look.
Market data shown is illustrative/sample only. Not real-time. All information is for educational purposes and should not be construed as investment advice. Past performance does not guarantee future returns.