Sensex Slips 252 Points and Nifty Ends at 22,622 as WPI Surges to 11.39% and Brent Crosses $106

Profit-booking snapped Dalal Street's rebound on Wednesday, October 14, 2026, as a sharper-than-projected spike in wholesale inflation and unrelenting strength in global crude oil prices overshadowed Tuesday's sharp gains.

The benchmark BSE Sensex fell 251.89 points, or 0.34%, to settle at 72,781.89 after swinging between an intraday high of 73,195.26 and a low of 72,578.75. The broader NSE Nifty 50 dropped 99.25 points, or 0.44%, to finish at 22,622.70. The slide halted momentum following Tuesday's four-month record surge, where the Sensex had leapt 1,109.10 points and the Nifty had climbed 358.60 points.

Double-Digit WPI Delivers Macro Shock

Data released by the Ministry of Commerce and Industry showed that India's Wholesale Price Index (WPI)-based inflation jumped to 11.39% year-on-year in September 2026, climbing steeply from 9.92% recorded in August. The acceleration was broad-based across all key index components:

• Fuel and Power: Annual inflation surged to 25.85% from 22.93% in August, propelled by a 40.02% jump in mineral oils and a 57.32% climb in crude petroleum and natural gas prices.
• Manufactured Products: Inflation hit a series high of 9.76%, up from 8.37% in August, reflecting higher input costs in basic metals, chemicals, and rubber products.
• Food Index: Wholesale food inflation accelerated to 8.66% in September compared to 7.05% in the previous month.
• Primary Articles: Rose to 8.67% from 7.76% in August.

The all-commodities WPI index climbed to 112.5 in September from 110.8 in August. This follows earlier data showing headline retail inflation (CPI) climbing to a 23-month high of 5.54%.

Geopolitical Pressures and Oil Vulnerability

Compounding the inflation print, international benchmark Brent crude traded around $106 to $107 per barrel amid supply disruptions stemming from conflicts in West Asia and transit choke points around the Strait of Hormuz. Because India imports upwards of 85% of its crude oil requirements, persistent triple-digit oil prices directly feed into domestic freight, manufacturing input costs, and the trade deficit.

The inflation reading also spurred a rise in domestic bond yields, prompting equity market participants to re-evaluate their expectations for the Reserve Bank of India's (RBI) interest rate path. The RBI's Monetary Policy Committee had recently raised the repo rate by 25 basis points to 5.50%.

Sectoral Trends and Key Movers

The sell-off was concentrated heavily in interest rate-sensitive segments, private financial institutions, and capital-intensive sectors.

Major Laggards:

• Financial services and non-banking lenders came under selling pressure, led by Bajaj Finance, Shriram Finance, Bajaj Finserv, and ICICI Bank.
• Automotive manufacturers slid on raw material price concerns, with Mahindra & Mahindra among the prominent Sensex losers.
• Aviation stocks such as InterGlobe Aviation declined amid elevated jet fuel and energy input costs.

Defensive Outperformers:

• The Nifty IT index provided counterbalancing support, clocking gains behind Tata Consultancy Services, Infosys, and Tech Mahindra.
• Select consumption and defensive bellwethers closed in positive territory, including Hindustan Unilever, NTPC, and Reliance Industries.

Broader indices mirrored the weakness in frontline counters, with the Nifty Smallcap 100 dropping 0.32% and the Nifty Midcap 100 losing 0.08%. Market analysts note that while domestic retail participation and defensive buying in tech have cushioned deeper corrections, equity valuations will remain sensitive to crude trajectories and upcoming global central bank actions.

Tags: BSE Sensex NSE Nifty 50 RBI DPIIT Ministry of Commerce and Industry Crude Oil