The Indian equity markets faced a sharp correction on Friday, October 23, 2026, with the Nifty 50 closing at 22463.80, down 0.99%. The Nifty Bank index also tracked lower, shedding 1.31% as selling pressure intensified across multiple sectors.
Top Gainers
| Company | Price | Change% |
|---|---|---|
| TCS | ₹2560 | +2.12% |
| ETERNAL | ₹309.85 | +1.77% |
| INFY | ₹1165.35 | +1.04% |
| HCLTECH | ₹1428.6 | +0.49% |
The IT sector provided a rare bright spot in an otherwise bearish session. TCS gained ground following news of an expanded partnership with Indian Bank to modernize overseas treasury operations. Similarly, Infosys saw upward momentum after announcing an expanded collaboration with Truist to strengthen global innovation hubs. Eternal Ltd. also featured among the top performers following a strong quarterly earnings report.
Top Losers
| Company | Price | Change% |
|---|---|---|
| TATASTEEL | ₹166 | -3.67% |
| HINDALCO | ₹856.35 | -3.30% |
| TMPV | ₹261.75 | -3.06% |
| JIOFIN | ₹204.9 | -2.80% |
| NTPC | ₹294.5 | -2.68% |
| TRENT | ₹2703 | -2.62% |
| BPCL | ₹279.45 | -2.61% |
| ADANIPORTS | ₹1706.5 | -2.49% |
| ADANIENT | ₹2486.9 | -2.47% |
| SHRIRAMFIN | ₹879.2 | -2.41% |
The broader market sentiment was dominated by selling in metal and auto stocks, with Tata Steel and Hindalco leading the decline. Tata Motors Passenger Vehicles also saw a significant drop. The widespread losses across energy, infrastructure, and financial services companies highlight a cautious mood among investors as the index retreated.
Today’s market split signals a clear preference for defensive IT plays over cyclical sectors like metals and auto amid broader index weakness.