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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →The Nifty fell below 22,400 in midday trading on Monday, October 12, 2026, after Indian stocks gave up early gains. At 1:20 PM IST, the index stood at 22,372.80, down 147.65 points, or 0.66%, and its reported intraday low was 22,352.35. Those are session readings, not the closing level. ETMarkets and Upstox reported FMCG and banking weakness among the drags, with IT also lower in ETMarkets’ snapshot.
What happened to the Nifty and Sensex on October 12?
Indian equities opened higher before reversing. ETMarkets reported the Nifty below 22,400 at 12:10 PM IST and said the Sensex had opened more than 400 points higher before retreating. In Upstox’s later update, at 1:20 PM IST, the Nifty was at 22,372.80, down 147.65 points, or 0.66%; Upstox also reported an intraday low of 22,352.35.
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The two reports capture different moments in a moving session, so their figures should not be read as simultaneous. Neither report establishes where the Nifty or Sensex ultimately closed.
Which sectors and stocks were under pressure?
ETMarkets reported the Nifty FMCG and Nifty PSU Bank indices down more than 1% at its update, while the Nifty Private Bank and Nifty IT indices were down more than 0.5%. It identified Tech Mahindra as down nearly 4%. ITC, SBI, Bharti Airtel, Hindustan Unilever, L&T, NTPC, ICICI Bank and Axis Bank were among stocks falling by as much as 3% in that snapshot.
Upstox later described an afternoon sell-off in FMCG and banking shares and named Tech Mahindra, ITC, Coal India, SBI and Bharti Airtel among the index’s laggards. Sector and stock moves vary with the time of the update; they are not end-of-day returns.
What explanations were reported for the reversal?
ETMarkets cited several possible pressures: rising bond yields, persistent foreign institutional investor (FII) selling, escalation in Middle East conflict, weak Asian market cues and profit-taking after the previous week’s gains. These were explanations offered in contemporaneous coverage, not proof that any one factor caused the decline.
ETMarkets quoted V K Vijayakumar, Chief Investment Strategist at Geojit Investments, saying, “The market is going through a stage wherein external headwinds are dominating the domestic tailwinds,” and describing elevated crude prices and US yields as sentiment headwinds. He also said domestic institutional investors were absorbing foreign selling. These are his market assessments, not confirmed forecasts.
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Upstox reported a separate banking-sector context: an RBI measure raised the daily cash reserve ratio (CRR) maintenance requirement to 99% from 90%, effective October 16, 2026. It also cited liquidity measures and bond issuance in its account of bank weakness. That context does not establish the policy as the sole cause of either the banking decline or the broader market reversal.
What did the volatility and foreign-flow figures indicate?
At its update, ETMarkets reported India VIX up more than 7% and above 15, a sign that the market’s volatility gauge had risen during the session. The outlet also reported net foreign equity selling of ₹45,125 crore in the first six sessions of October 2026. That flow figure is reported market context; the cited report does not provide an original exchange or depository statistic to independently verify it.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How should investors read the day’s move?
The session’s clear, time-stamped fact is a reversal from early strength to a Nifty reading below 22,400 by midday. The reports point to weakness in FMCG and banks, with IT also lower in one snapshot, but their proposed market drivers remain analysis rather than established cause. A midday level or intraday low should not be mistaken for a closing price, and the reported levels can change as trading continues.
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