Sensex Rebounds 879 Points After 32-Month Low: IT Stocks and Softer Oil Lift Dalal Street as Nifty Reclaims 22,500
Indian equities bounced back on Friday, October 9, 2026, after a sharp two-day slide that pushed the Sensex to a 32-month low. The BSE Sensex rose 879.09 points, or 1.23%, to close at 72,472.33, while the NSE Nifty 50 gained 288.65 points, or 1.3%, to settle at 22,520.45. Information technology stocks led the rebound, and falling oil prices also helped.
Friday's rebound
According to Business Standard's market coverage, buying was broad-based, with IT, FMCG and banking stocks all contributing. The Nifty Midcap index rose 1.56% and the Nifty Smallcap index gained 0.54%. Indices had also rebounded from a two-day declining streak as oil prices eased.
What caused the slide
The rebound followed one of the worst sessions in weeks on Thursday, October 8:
- Sensex: Fell 1,045.46 points, or 1.44%, to 71,593.24, its lowest in 32 months.
- Nifty 50: Fell 1.64% to 22,231.80, its lowest close in 18 months.
- Wealth erased: Roughly Rs 10 lakh crore in investor wealth, per Outlook Business and Whalesbook.
- Foreign selling: Foreign institutional investors sold a net Rs 12,944 crore of Indian equities that day, Whalesbook reported.
- Oil and the rupee: Brent crude rose above $104 a barrel amid Middle East tensions, and the rupee weakened to around 97 per US dollar, according to analysts quoted by Outlook Business.
- RBI policy: Markets were still absorbing a hawkish Reserve Bank of India move. Outlook Business described the rate increase as a surprise, and a Subkuz report put the repo rate at 5.50% after a 25 basis point hike. Analysts said the move weighed on rate-sensitive sectors.
Where the market stands
The Sensex is about 12% lower than a year ago and well below its all-time high of 86,159.02 set in December 2025, while the Nifty is down nearly 11% over the year, according to Trading Economics data. Stock-specific pain also continued, with Torrent Power hitting a 31-month low during Friday's session.
What to watch next
Markets are closed on Saturday and reopen on Monday, October 12. Traders will watch crude oil prices, the rupee, the pace of foreign outflows and further signals from the RBI. Analysts quoted in the reports described Friday's move as a technical rebound, and it is unclear whether it will hold.
This story is for information only and is not investment advice.
Quick Facts
| Date | Friday, October 9, 2026 |
| Sensex close | 72,472.33, up 879.09 points (1.23%) |
| Nifty 50 close | 22,520.45, up 288.65 points (1.3%) |
| Previous session (Oct 8) | Sensex 71,593.24 (32-month low); Nifty 22,231.80 |
| Leaders | IT, FMCG and banking stocks |
| Foreign selling (Oct 8) | Net Rs 12,944 crore |
| Brent crude | Above $104 on Oct 8; eased on Oct 9 |
| Rupee | Around 97 per US dollar (Oct 8) |
| Sensex all-time high | 86,159.02 (December 2025) |
| Next trading day | Monday, October 12 |
Based on reports from Business Standard, Outlook Business, Whalesbook, Trading Economics and others as of October 10, 2026.