Nifty below 22,900, Sensex drops 876 pts as IT, private banks drag

The Indian share market traded lower on Monday amid rising crude oil prices, weak global cues and heavy selling in bank and IT stocks.At close, the Sensex was down 876.37 points or 1.17 percent at 73,852.90, and the Nifty was down 257.20 points or 1.11 percent at 22,888.95.
JSW Steel, Eicher Motors, SBI, L&T and ONGC were the top gainers on the Nifty, while losers included Axis Bank,Tata Motors Passenger Vehicles, Bajaj Finance, Trent, Infosys.On the sectoral front,except PSU Bank (gained 2.2%), all other sectoral indices ended in the red with FMCG index down 1.2%, IT index down 1.3% and Private Bank index shed 1.8 percent, according to agency reports.The broader markets also remained under pressure with Nifty midcap and smallcap indices fell 1 percent each.
Markets will remain shut on Tuesday, October 20 on account of Dussehra.
Rupee Close:
On 19 Oct'26,the Indian rupee pared back its initial gains and settled 3 paise lower to close at 94.92 (provisional) against the U.S. dollar on Monday , weighed down by a sharp fall in domestic equity markets and a recovery in crude oil prices.
Trading Guide:
Market experts have recommended Radico Khaitan, and Bharti Airtel as the top stocks to buy on Monday.

(Business Correspondent)