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Key gauges extend losses in morning deals
Oct-28-2026

Indian equity benchmarks extended their losses in morning deals, dragged by IT companies, rising crude oil prices and caution ahead of the US Federal Reserve's policy decision. Oil prices climbed more than 1% after an attack on a refinery in Saudi Arabia renewed concerns around supply risks from the major exporter. Traders remained cautious as ratings agency ICRA said fresh non-performing assets (NPA) in the banking sector are likely to increase in the current fiscal, with private sector banks expected to face relatively higher pressure due to their exposure to unsecured retail and micro, small and medium enterprise loans. On the global front, Asian markets were trading mostly in green following the positive cues from Wall Street overnight, amid  renewed optimism about the AI trade after AI giant Anthropic publicly filed for an IPO on Monday.

The BSE Sensex is currently trading at 72693.78, down by 904.89 points or 1.23% after trading in a range of 72603.57 and 73316.46. There were 4 stocks advancing against 26 stocks declining on the index. 

The few gaining sectoral indices on the BSE were Industrials up by 0.72% and Healthcare up by 0.54%, while IT down by 2.92%, TECK down by 2.73%, Energy down by 2.03%, Oil & Gas down by 2.03% and Telecom down by 1.79% were the top losing indices on BSE.

The top gainers on the Sensex were Larsen & Toubro up by 3.72%, State Bank of India up by 0.77%, Trent up by 0.13% and Maruti Suzuki India up by 0.11%. On the flip side, Infosys down by 4.13%, Tech Mahindra down by 2.88%, TCS down by 2.80%, Bajaj Finserv down by 2.54% and HCL Technologies down by 2.40% were the top losers.

Meanwhile, ratings agency Icra in its latest report has said that Fresh non-performing assets (NPA) in the banking sector are expected to increase during the current fiscal (FY27), with private sector banks expected to face relatively higher pressure due to their exposure to unsecured retail and micro, small and medium enterprise (MSME) loans.

It expects the trend of relatively higher loan slippages at private sector banks to continue in the second half of FY27, even as credit costs are projected to remain favourable and significantly below historical levels. According to its estimates, the fresh NPA generation rate for public sector banks is expected to stand at 0.8 per cent in FY27, compared with 2.5 per cent for private sector banks.

In absolute terms, fresh NPA is estimated at Rs 1 lakh crore in FY27 for state-owned banks and Rs 1.3 lakh crore for private banks. It attributed the relatively higher slippages at private sector banks over the past two years to their higher share of unsecured retail and MSME loans. Despite the anticipated increase in fresh bad-loan generation, it expects the banking sector will continue to report healthy profitability, supported by favourable credit costs and adequate capitalisation.

Besides, the agency projected the banking sector's gross non-performing assets (GNPA) ratio at 1.7-1.8 per cent by March 2027 from 1.7 per cent in June 2026. The net NPA ratio is expected to remain at 0.4-0.5 per cent against 0.4 per cent in June 2026. According to the rating agency, bank credit growth to remain healthy at 15.1-15.9 per cent in FY2027, translating into incremental credit of Rs 32.3-33.8 lakh crore.

The CNX Nifty is currently trading at 22512.15, down by 237.60 points or 1.04% after trading in a range of 22497.70 and 22691.50. There were 11 stocks advancing against 39 stocks declining on the index.

The top gainers on Nifty were Larsen & Toubro up by 4.11%, Apollo Hospital up by 2.94%, SBI Life Insurance up by 0.65%, Max Healthcare up by 0.60% and Bajaj Auto up by 0.59%. On the flip side, Infosys down by 4.77%, Tech Mahindra down by 3.16%, TCS down by 2.92%, Bajaj Finserv down by 2.86% and ONGC down by 2.85% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 758.63 points or 1.2% to 64,027.00, Taiwan Weighted added 859.59 points or 1.86% to 46,955.82, Shanghai Composite strengthened 29.48 points or 0.81% to 3,677.78, KOSPI increased 369.67 points or 6.56% to 6,008.01, Hang Seng advanced 33.68 points or 0.15% to 23,075.00 and Straits Times rose 7.53 points or 0.14% to 5,404.56.

On the flip side, Jakarta Composite plunged 87.07 points or 1.65% to 5,179.06.
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