money · Economy / Markets / FPI flows
Nifty sinks 1.64% to 22,231.80 — lowest close in 21 months — as FPIs sell ₹12,944 crore; metals and realty lead the slide
A day after RBI’s 25 bp repo hike to 5.50% and shift to calibrated tightening, the Nifty 50 fell 371 points to 22,231.80 — its weakest close since April 2025 — with only 3 of 50 stocks up. Foreign portfolio investors sold a provisional net ₹12,943.58 crore; domestic institutions absorbed ₹10,703.11 crore. Crude oil stayed elevated overnight.
60-sec
Market close, Thu 8 Oct 2026 (NSE, 3:30 p.m.):
| Index | Close | Change |
|---|---|---|
| Nifty 50 | 22,231.80 | −371.25 (−1.64%) |
| Sensex (BSE / Yahoo daily) | 71,593.24 | ≈−1,045 (−1.44%) |
| Nifty Bank | 54,515.05 | −0.98% |
| Nifty Financial Services | 24,640.45 | −1.11% |
| Nifty PSU Bank | 7,995.95 | −1.15% |
| Nifty IT | 27,736.60 | −0.08% |
| Nifty Auto | 24,512.70 | −2.49% |
| Nifty FMCG | 43,898.05 | −2.02% |
| Nifty Metal | 11,870.05 | −3.55% |
| Nifty Realty | 796.60 | −3.16% |
| Nifty Pharma | 25,823.25 | −2.32% |
| Nifty Energy | 35,649.30 | −2.82% |
| Nifty Midcap 100 | 57,882.50 | −2.53% |
| Nifty Smallcap 100 | 19,050.10 | −2.34% |
| India VIX | 15.31 | +10.26% |
Nifty 50 range: open/high 22,599.05, low 22,179.90, previous close 22,603.05. 3 advances, 47 declines inside the index.
Flows (NSE provisional, 8 Oct): FPIs net sold ₹12,943.58 crore (bought ₹15,725.45 cr / sold ₹28,669.03 cr). DIIs net bought ₹10,703.11 crore. Combined institutional net ≈ −₹2,240.47 crore (Capital Chronicle arithmetic).
Overnight markers (indicative, early 9 Oct): Brent near $103.4, WTI near $90.9; USD/INR near 96.8 (market quotes, not FBIL fixing).
Takeaway: Day-two selling after RBI’s tightening turn pushed the Nifty to a 21-month closing low, with FPIs’ largest single-day cash sale in months only partly offset by DIIs. Not investment advice.
Analysis
Breadth collapsed after the hike
On Wednesday RBI raised the repo rate by 25 bps to 5.50% and moved its stance to calibrated tightening (decision story; day-one tape). Thursday’s session was broader and deeper: the Nifty opened flat-to-soft at 22,599.05, never recovered that level as a high, and traded as low as 22,179.90 before closing at 22,231.80.
Rate-sensitive and commodity-linked sector indices led: metals −3.55% (all 15 constituents down), realty −3.16% (all 10 down), autos −2.49% (all 15 down), energy −2.82%, pharma −2.32%, FMCG −2.02%. IT (−0.08%) was the only major sector index near flat. Midcaps and smallcaps underperformed the Nifty: Midcap 100 −2.53%, Smallcap 100 −2.34%.
India VIX rose from 13.89 to 15.31 (+10.26%), the sharpest one-day jump in this week’s tape.
FPI selling accelerates; DIIs cover most but not all
NSE provisional figures show FPI net sales of ₹12,943.58 crore on 8 Oct, after ₹6,121.37 crore on 7 Oct. DII net buying of ₹10,703.11 crore covered about 83% of Thursday’s FPI outflow (CC arithmetic); the residual institutional drain was about ₹2,240 crore.
That follows a multi-session streak of foreign selling into the cash market even as primary-market (IPO/OFS) participation has stayed selective earlier this year — a distinction NSDL flow splits have highlighted in monthly data, separate from these daily exchange figures.
Oil and global yields stay in the frame
Indicative early-Asia quotes on 9 Oct put Brent near $103 and WTI near $91, higher than Wednesday’s early levels. Elevated crude raises the inflation and current-account overlay for India just as the MPC has shifted to calibrated tightening. US equity futures/indexes were mixed overnight; the Dow’s latest print was near 51,232. These are market markers, not official RBI or exchange benchmarks.
What to watch today (Fri 9 Oct)
- Whether the Nifty holds above ~22,180 (Thursday’s intraday low) after the 21-month closing trough
- FPI/DII provisional flows for 9 Oct — another ₹10,000+ crore FPI day would extend the streak
- Fusion CX books open 14–16 Oct after its RHP dated 8 Oct (IPO story)
- September CPI due 12 Oct
Sources
- NSE allIndices, 8 Oct 2026 close — Nifty 50 and sector indices, advances/declines, India VIX — https://www.nseindia.com/api/allIndices
- NSE FII/FPI and DII trading activity (provisional), 8 Oct 2026 — https://www.nseindia.com/api/fiidiiTradeReact
- BSE Sensex daily close via Yahoo Finance chart series (71593.24 on 8 Oct) — cross-check only; primary Nifty path is NSE
- RBI Monetary Policy Statement, 7 Oct 2026 — repo 5.50%, calibrated tightening
- Indicative crude and FX: Yahoo Finance futures/FX last prints (CL=F, BZ=F, INR=X) as of early 9 Oct — not FBIL/official benchmarks
Not investment advice. Exchange closes are final for the session; FPI/DII figures are provisional until exchange revisions.
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Not personalized financial advice. Corrections: corrections@capitalchronicle.news