Investment News · 28 October 2026 · 3 min read
In short: The Sensex fell 352 points (0.48%) to 73,246.03 and the Nifty 50 slipped 0.22% to 22,698.85 on Wednesday. Brent crude touched a high of $116.35 a barrel after a Wall Street Journal report linked to the US midterm elections on 3 November. The rupee weakened 21 paise to 95.28 against the dollar (provisional).
Market close: 28 October 2026
| Indicator | Close | Change |
|---|---|---|
| Sensex | 73,246.03 | −352.64 (−0.48%) |
| Nifty 50 | 22,698.85 | −50.90 (−0.22%) |
| Rupee vs dollar | 95.28 (provisional) | −21 paise |
| Brent crude (day high) | $116.35 | Over +2% |
| FII flows (27 October) | Net buy ₹4,240.39 crore | — |
IT and oil stocks pulled the market down. Infosys fell 3.4%, Reliance 3.1%, ONGC 2.1% and Tech Mahindra 1.9%. Nifty Oil & Gas lost 2.3% and Nifty IT 2%. On the other side, Apollo Hospitals rose 4.4%, Larsen & Toubro 3.7% after strong quarterly profit, and Trent 3.3%. Auto stocks gained 1.6%.
Why the US election matters here
The Wall Street Journal reported that the US has told some Gulf countries to be ready for a possible military operation against Iran after next week’s midterm elections. Oil rose on the report because any conflict could disrupt supply through the Strait of Hormuz. India imports most of its oil, so higher crude tends to weaken the rupee and raise costs for oil companies.
The US Federal Reserve’s interest rate decision is due on Wednesday at 2 pm US Eastern time (11:30 pm IST). Its message on rates can move foreign investor flows into India.
What it means for you
- Fuel and prices: crude above $110 keeps pressure on petrol, diesel and LPG costs, and on inflation.
- Rupee: a weaker rupee makes foreign travel, overseas education and imported gadgets costlier. NRIs sending money home get more rupees per dollar.
- Investors: big global events can bring sharp daily swings. Long-term investors usually review their asset mix rather than react to one day’s move.
Read our earlier coverage: US midterms one week away: what Indian investors should watch.
Sources
- Upstox: Sensex ends 350 pts lower, Nifty closes at 22,698
- Telangana Today (PTI): Rupee falls to 95.28 against US dollar
- Quantum Commodity Intelligence: US warns Gulf states, citing WSJ
- India TV: Stock market updates, 28 October 2026
This is a news summary for education, not investment advice. Figures are as reported on or before 28 October 2026; check official sources before making decisions.