Sensex cracks 500 pts, Nifty near 22,700; IT, FMCG top sectoral laggards

Benchmark indices were trading in the red on Wednesday. Sensex opened at 73,253.44; meanwhile, Nifty 50 started 0.31 per cent lower at 22,678. Both indices further dropped 1 per cent intraday. Jio Platforms listed at a 21 per cent premium on the exchanges

Sectorally, the Nifty IT, FMCG and Oil & Gas were the top laggards. In contrast, Nifty Auto was the only sector trading in green. Broader markets traded mixed, with the Nifty Midcap 100 trading 0.41 per cent down and the Nifty Smallcap 100 trading 0.6 per cent higher.

Notably, the US Federal Reserve’s Federal Open Market Committee (FOMC) is holding its two-day policy meeting on October 27–28, 2026, with the official interest rate decision and policy statement scheduled for today.