The Indian stock market closed lower for the second consecutive session on Wednesday, October 28, 2026, as selling in Reliance Industries and information technology stocks weighed on the benchmark indices. The Sensex declined 352.64 points, or 0.48%, to close at 73,246.03, while the Nifty 50 fell 50.90 points, or 0.22%, to settle at 22,698.85.
Both indices opened sharply lower and recovered some losses during the session but remained in negative territory at the close. Buying in Larsen & Toubro (L&T), Trent and select banking stocks helped limit the decline. The benchmarks had also ended marginally lower on Tuesday.
Of the 50 companies in the Nifty 50, 26 closed higher and 24 declined. Among the 30 Sensex constituents, nine stocks advanced, while 21 ended lower.
Reliance Industries was the biggest loser among Sensex constituents, with its shares falling 3.46%. Information technology stocks also faced selling pressure. Infosys declined 3.34%, Tech Mahindra fell 1.83%, and Tata Consultancy Services (TCS) dropped 1.68%. HCL Technologies closed 1.13% lower.
The selling pressure dragged the Nifty IT index down by approximately 2%.
Larsen & Toubro was the top gainer on the Sensex, rising 3.68%. The stock advanced following the company's recent September-quarter results, which showed its profit increasing by approximately 33% to Rs 5,202 crore.
Trent shares gained 2.79%. State Bank of India advanced 1.23%, while Axis Bank rose 1.14%. InterGlobe Aviation, the parent company of IndiGo, gained 1.13%. HDFC Bank and Maruti Suzuki advanced 0.87% and 0.83%, respectively. Bajaj Finance and Mahindra & Mahindra also closed with modest gains.
Several other major stocks ended lower. Bharti Airtel declined 1.42%, while Tata Steel fell 1.37%. Bajaj Finserv dropped 1.25%, Eternal declined 1.21%, and Bharat Electronics Limited (BEL) fell 1.20%.
In the banking sector, ICICI Bank declined 1.02%, while Kotak Mahindra Bank fell 0.64%. Gains in State Bank of India, Axis Bank and HDFC Bank provided some support to banking stocks.
Titan, Hindustan Unilever, ITC, UltraTech Cement and NTPC also closed in negative territory. Adani Ports, Asian Paints, Power Grid and Sun Pharmaceutical Industries recorded marginal declines.
Elevated crude oil prices remained among the factors influencing market sentiment on Wednesday. Brent crude traded at around $115 per barrel in the international market. India imports a substantial share of its crude oil requirements, making higher oil prices a factor in import expenditure and inflation concerns.
Investors also remained cautious ahead of the US Federal Reserve's upcoming decision. Signals on interest rates could influence the stance of foreign investors.
Meanwhile, the stock market listing of Jio Platforms remained in focus. The company's shares listed at a premium of approximately 21.4%, but the listing did not prevent the benchmark indices from closing lower.
