StocksMedium•23 October 2026•
1 min read
Indian Sensex and Nifty Indices Plunge as Rising Crude Oil Prices Pressure Markets
Key Facts
1The BSE Sensex crashed 1,279 points from its intraday high to hit session lows.
2The NSE Nifty 50 index plunged 380 points, testing the 22,407 level.
3High crude oil prices remain a significant headwind for oil-sensitive sectors in India.
The BSE Sensex crashed 1,279 points from its intraday high to hit session lows during the October 23, 2026, trading session. Business Standard reported that the NSE Nifty 50 index also plunged 380 points, testing the 22,407 level as benchmark indices erased earlier gains.
High crude oil prices, which surged above $112 per barrel, remain a significant headwind for oil-sensitive sectors in India. This market volatility occurred alongside economic data released on October 23, 2026, showing the Manufacturing PMI at 54.9, missing the forecast of 55.4, while the Services PMI reached 56.2.