Sensex Sheds 352 Points as Reliance, IT Stocks Slide; Jio Platforms Soars 27% on Debut

Benchmark equity indices Sensex and Nifty closed lower on Wednesday, dragged down by losses in Reliance Industries and information technology stocks, rising crude oil prices and investor caution ahead of the US Federal Reserve’s policy decision.

The BSE Sensex declined 352.64 points, or 0.48 per cent, to settle at 73,246.03. It fell as much as 995.1 points to an intraday low of 72,603.57 before recovering some losses. The NSE Nifty dropped 50.90 points, or 0.22 per cent, to close at 22,698.85, below the 22,700 mark.

Among Sensex constituents, Reliance Industries fell 3.46 per cent, while Infosys declined 3.34 per cent. Tech Mahindra lost 1.83 per cent, Tata Consultancy Services slipped 1.68 per cent, Bharti Airtel dropped 1.42 per cent and Tata Steel declined 1.37 per cent.

Brent crude, the global oil benchmark, rose 0.99 per cent to USD 114.50 per barrel. The increase followed renewed concerns about supply disruptions after Houthi attacks on Saudi Arabia. Investors also awaited the US Federal Reserve’s policy announcement for indications about the future direction of interest rates.

Sectoral indices reflected the weakness in energy-related and technology shares. The Energy index fell 2.26 per cent, Oil and Gas declined 2.09 per cent and IT dropped 1.77 per cent. The BSE SmallCap Select index gained 0.85 per cent, while the MidCap Select index advanced 0.66 per cent.

Larsen & Toubro (L&T) rose nearly 4 per cent after reporting a 32.5 per cent increase in consolidated net profit to Rs 5,202.10 crore for the September 2026 quarter. Trent, State Bank of India, Axis Bank and InterGlobe Aviation also ended higher.

Meanwhile, Jio Platforms made a strong stock market debut, closing nearly 27 per cent above its issue price of Rs 1,119. The Reliance Industries-backed digital services company recorded a market capitalization of approximately Rs 13 lakh crore, becoming India’s second-most valuable domestic company after its parent.

Asian markets ended higher, while European markets traded lower. US markets had closed in positive territory on Tuesday.