On October 8, 2026, the Sensex fell sharply by over 1,000 points, reflecting a challenging day for the Indian stock market. The NIFTY50 index also traded below 22,400 points as investors reacted to weak global signals, rising crude oil prices, and a recent hike in the Reserve Bank of India's repo rate. Despite the overall market decline, some companies reported strong quarterly results and saw their shares rise.
- The Sensex dropped as much as 1.61%, reaching an intraday low of 71,471.74 points.
- The NIFTY50 index fell by up to 1.76%, touching 22,204.50 points during the session.
- Fino Payments Bank shares surged 16.8% after reporting a 13% year-on-year increase in average total deposits.
- Tata Consultancy Services (TCS) shares rose nearly 3% ahead of its quarterly earnings announcement.
- Metal and realty stocks were among the biggest losers, including Adani Enterprises and JSW Steel.
Why did the Sensex and NIFTY50 indices fall sharply?
The Indian stock market faced pressure due to several factors on October 8, 2026. Weak global cues and persistent foreign institutional investor (FII) outflows weighed heavily on investor sentiment. Additionally, a surge in global crude oil prices increased concerns about inflation and economic growth. The Reserve Bank of India's recent increase in the repo rate also contributed to the cautious market mood. These factors combined led to a sell-off, especially in metal and real estate sectors.
Which stocks gained despite the market downturn?
Some companies showed resilience and even gained during the market decline. Fino Payments Bank's shares rallied by as much as 16.8% after the bank reported a 13% year-on-year rise in average total deposits to ₹2,794 crore for the second quarter of fiscal year 2027. This strong performance boosted investor confidence.
Tata Consultancy Services (TCS) shares increased by nearly 3% ahead of its September quarter results. Investors are closely watching TCS for signs of growth driven by artificial intelligence services and overall demand in the IT sector. Other IT companies like Infosys, Tech Mahindra, and HCL Technologies also saw gains.
Senco Gold's shares rose 12% following a 29% year-on-year revenue growth at the retail level for the quarter ending September 30, 2026. The company highlighted strong consumer demand supported by festive season sales and a preference for lightweight jewellery.
Which sectors and stocks were the biggest losers?
Metal and realty stocks were the most affected by the market downturn. Adani Enterprises, JSW Steel, ITC, Adani Ports, and Max Healthcare Institute were among the top losers on the NIFTY50 index. Tata Steel's shares declined after concerns about global volumes despite a 10.1% increase in crude steel production and a 7.5% rise in delivery volumes for the quarter.
HDFC Bank shares fell by up to 1.7% after foreign institutional investors reduced their stake in the bank from 41.83% to 39.40% during the July to September quarter of fiscal year 2027.
Vedanta's shares dropped nearly 3% despite the company approving a ₹5 per share interim dividend for fiscal year 2027. The board set the dividend payout record date for October 14, 2026.
What other notable market movements occurred?
Infoedge Ltd (Naukri) initially rose 2% but later fell after releasing a strong business update showing 12.6% year-on-year growth in billings for the quarter. GM Breweries reported a 12.61% increase in consolidated net profit but saw its shares decline.
New listings also made an impact. Nityas Gems and Jewellery Ltd debuted with a 6.67% premium over its IPO price on the NSE, while Vishal Nirmiti shares started trading at a slight discount of 2.27% from its IPO price.
Shares of Paytm operator One 97 Communications fell sharply by up to 10% amid reports of requests to delay the Merchant Discount Rate rollout and mixed analyst outlooks.
Frequently Asked Questions
Q: What caused the Sensex to drop over 1,000 points on October 8, 2026?
A: The decline was caused by weak global market cues, persistent foreign institutional investor outflows, rising crude oil prices, and a recent increase in the Reserve Bank of India's repo rate.
Q: Which companies performed well despite the market downturn?
A: Fino Payments Bank, Tata Consultancy Services, Infosys, Tech Mahindra, HCL Technologies, and Senco Gold reported strong quarterly results or business updates that helped their shares rise.
Q: How did foreign investors affect the market on this day?
A: Foreign institutional investors sold shares worth ₹6,121.37 crore, contributing to the market decline, while domestic institutional investors purchased equities worth ₹4,596.57 crore.
