Stock Market Today LIVE: Sensex, Nifty 50 Fall At Open; TCS Gains 2%, Paytm Slips 7%

Broader markets were under selling pressure, as the Nifty Smallcap 100 and the Nifty Midcap 100 indices declined 0.4% each.

The Indian stock market opened on a flat note on Thursday, following weak global market cues.

The Sensex opened 29.30 points, or 0.04%, higher at 72,668.00, while the Nifty 50 eased 4.00 points, or 0.02%, to open at 22,599.05. The Bank Nifty index opened at 55,042.90, higher by 12.65 points, or 0.02%.

The Indian rupee opened 10 paise higher at 96.68 against the US dollar as against Wednesday’s close of 96.78 level.

Brent crude oil prices climbed above $101 a barrel on Thursday, October 8, reversing the previous session's losses as fresh reports of potential US military action against Iran revived fears of further disruption to Middle East oil supplies.

Brent crude prices were last trading at $101.16 a barrel, up 0.96%, after settling at $100.20 in the previous session
 

Ola Electric Mobility has approved the terms of its proposed rights issue to raise nearly Rs 1,000 crore, with the company fixing the issue price at Rs 27 per share. The board, at its meeting on Wednesday, approved the issuance of 37.03 crore partly paid-up equity shares, aggregating to Rs 999.74 crore assuming full subscription and payment of call money, according to an exchange filing.

The rights issue price of Rs 27 comprises a face value of Rs 10 and a premium of Rs 17 per share.

Ola Electric has fixed Oct. 13, 2026 as the record date for determining shareholders eligible to receive rights entitlements. Under the approved entitlement ratio, eligible shareholders will be entitled to receive two rights equity shares for every 25 fully paid-up equity shares held on the record date. The rights issue will open on Oct. 22 and close on Oct. 30, 2026.

Nifty 50 remains under pressure, with selling pressure emerging at higher levels and the broader technical structure continuing to indicate weakness. 

“On the upside, the 22,750–22,800 zone is likely to act as the immediate resistance area. A sustained move above 22,800 could provide some stability and support a recovery toward the 23,000 region. However, failure to reclaim this zone could leave the index vulnerable to renewed selling pressure,” said Ponmudi R, CEO of Enrich Money.

On the downside, 22,500 remains the immediate support level. A decisive break below 22,500 could intensify selling pressure and expose the index to the 22,400–22,200 zone. The broader setup is likely to remain cautious as long as the Nifty trades below 22,800, while subdued momentum and recent price action continue to signal weakness. Overall, the near-term technical outlook remains cautious, he added.
 

The Reserve Bank of India (RBI) on Wednesday hiked repo rate by 25 bps to 5.50% and changed the policy stance to “calibrated tightening” from ‘neutral’. While the hike itself was widely expected, the change in stance has become the bigger signal for markets. The central bank also raised its growth projection and its inflation estimates for FY27.

Crude oil prices gained after reports that the US plans strike options against Iran before the midterm elections. Brent crude futures rallied 1.16% to $101.36 a barrel, while US West Texas Intermediate crude was at $89.18 a barrel, up 1.02%.

The minutes of the Federal Open Market Committee September 15-16 meeting showed that all 19 Federal Reserve officials backed the decision to raise interest rates. “Most participants assessed that another increase in the target range for the federal funds rate would likely be appropriate by year end,” the minutes said.

US stock market ended lower on Wednesday as the long-dated US Treasury yields resumed upside.

The Dow Jones Industrial Average declined 341.11 points, or 0.66%, to 51,180.17, while the S&P 500 fell 17.18 points, or 0.22%, to 7,801.75. The Nasdaq Composite closed 61.19 points, or 0.22%, lower at 27,538.69.

Asian stock markets traded lower on Thursday, tracking overnight losses on Wall Street on higher US Treasury yields. Japan’s Nikkei 225 declined 1.02% while the Topix slipped 1.47%. South Korea’s Kospi dropped 0.75% and the Kosdaq rose 0.28%. Mainland China and Hong Kong shares were little changed in early trading.

The trends on Gift Nifty signal a negative start for the Indian benchmark indices, Nifty 50 and Sensex, today. The Gift Nifty was trading around 22,612 level, a discount of nearly 20 points from the Nifty futures' previous close.

The Indian stock market is likely to open lower on Thursday, tracking weak global market cues, and cautiousness after the hawkish Reserve Bank of India (RBI) policy. Rising US Treasury yields and elevated crude oil prices also continue to weigh on sentiment.