Indian Sectoral Indices Slide as Crude Oil Surpasses $110

Key Facts

Indian sectoral indices declined, led by losses in the IT, FMCG, and energy sectors. HDFC Sky reported that crude oil prices climbed above $110 per barrel amid escalating Middle East tensions, weighing on market sentiment during the Thursday, October 22, 2026, session.

Oil-marketing companies, paint manufacturers, and tyre makers faced pressure as elevated energy costs threatened to raise operational expenses. With no current numeric price levels available for the primary indices, focus remains on how energy prices may complicate the inflation outlook and future Reserve Bank of India policy decisions.

Traders are looking ahead to the release of India's Manufacturing, Services, and Composite PMI data scheduled for October 23, 2026. The Manufacturing PMI is forecasted at 55.4, which may provide further insight into economic resilience amid rising input costs.