Five factors behind the crash: Sensex tanks 1,100 points from day's high, Nifty below 22,850
Sensex tanked 1,141 points from the day's high of 74,849 in the afternoon session today. From the previous close of 74,729, the index was down 1021 points.
- Oct 19, 2026,
- Updated Oct 19, 2026 3:09 PM IST
The Indian stock market crashed in line with Asian peers in the afternoon trade, setting a weak start in the holiday truncated week. Sensex tanked 1,141 points from the day's high of 74,849 in the afternoon session today. From the previous close of 74,729, the index was down 1021 points. Nifty too tanked 301 points to 22,845 from the previous close of 23,146. Here's a look at five factors that led to the crash in market today.
High brent crude prices
The weakness in the market came even as brent crude prices held on to the $108 per barrel mark after falling from the five-month high of $110 per barrel. Brent crude prices held on to the $108 mark amid reports of Iran’s Armed Forces Chief of Staff Ali Abdollahi warning the US and Israel against launching another military attack, threatening a response more severe than previous retaliation. According to a CNN report, Iran has indicated that it is preparing for a possible renewed military confrontation with the United States, issuing public warnings to Washington and its allies in what appears to be an effort to dissuade President Donald Trump from reigniting the ongoing conflict.
IT stocks fall
Profit-booking in IT stocks led to weak sentiment in the market. The sector was among the top gainers last week and helped Nifty50 to post a second consecutive weekly advance after an eight-week losing streak — its longest such run in 25 years. In the current session, Nifty IT index crashed 547 pts to 31,377. BSE IT index too lost 514 pts to 29,882.
Weakness in banking stocks
BSE bankex index too tanked 431 points to 62,338 after HDFC Bank shares declined over 2 percent post Q2 earnings. Axis Bank, ICICI Bank and YES Bank also led to losses post their Q2 earnings during the weekend. Nifty Bank too tanked 513 points to 55,331.
FIIs-led selloff
The Rs 1,166 crore buying activity by the FIIs in the cash market on October 16 last week was not enough to stall the selling pressure in the market. From September 24 to October 15, 2026, FIIs have been net sellers in all trading sessions in the cash market.
Global markets
Asian markets were in a selloff mode today with Japan's Nikkei plunging 414 pts to 64,910. The Taiwan Weighted Index too slipped 290 points to 46.822 with Indonesia's Jakarta Composite plunging 201 points. European markets too were trading in the red with FTSE slipping 101 points, CAC and DAX falling 112 pts and 290 points, respectively.
The Indian stock market crashed in line with Asian peers in the afternoon trade, setting a weak start in the holiday truncated week. Sensex tanked 1,141 points from the day's high of 74,849 in the afternoon session today. From the previous close of 74,729, the index was down 1021 points. Nifty too tanked 301 points to 22,845 from the previous close of 23,146. Here's a look at five factors that led to the crash in market today.
High brent crude prices
The weakness in the market came even as brent crude prices held on to the $108 per barrel mark after falling from the five-month high of $110 per barrel. Brent crude prices held on to the $108 mark amid reports of Iran’s Armed Forces Chief of Staff Ali Abdollahi warning the US and Israel against launching another military attack, threatening a response more severe than previous retaliation. According to a CNN report, Iran has indicated that it is preparing for a possible renewed military confrontation with the United States, issuing public warnings to Washington and its allies in what appears to be an effort to dissuade President Donald Trump from reigniting the ongoing conflict.
IT stocks fall
Profit-booking in IT stocks led to weak sentiment in the market. The sector was among the top gainers last week and helped Nifty50 to post a second consecutive weekly advance after an eight-week losing streak — its longest such run in 25 years. In the current session, Nifty IT index crashed 547 pts to 31,377. BSE IT index too lost 514 pts to 29,882.
Weakness in banking stocks
BSE bankex index too tanked 431 points to 62,338 after HDFC Bank shares declined over 2 percent post Q2 earnings. Axis Bank, ICICI Bank and YES Bank also led to losses post their Q2 earnings during the weekend. Nifty Bank too tanked 513 points to 55,331.
FIIs-led selloff
The Rs 1,166 crore buying activity by the FIIs in the cash market on October 16 last week was not enough to stall the selling pressure in the market. From September 24 to October 15, 2026, FIIs have been net sellers in all trading sessions in the cash market.
Global markets
Asian markets were in a selloff mode today with Japan's Nikkei plunging 414 pts to 64,910. The Taiwan Weighted Index too slipped 290 points to 46.822 with Indonesia's Jakarta Composite plunging 201 points. European markets too were trading in the red with FTSE slipping 101 points, CAC and DAX falling 112 pts and 290 points, respectively.