Indian Markets Open Lower on Elevated Crude Prices; Jio Platforms Shares Credited Today

Indian equity benchmarks opened Tuesday's session in negative territory, extending losses as elevated global crude oil prices and persistent foreign institutional investor (FII) outflows weighed on sentiment. The Sensex traded down over 120 points, while the Nifty held above the 22,700 mark in early trade. Meanwhile, significant investor attention is on Jio Platforms, with shares from its mega IPO being credited to successful allottees' Demat accounts today, ahead of its market debut tomorrow.

Key highlights

• Nifty 50: Traded around 22,700, down approximately 50 points, influenced by global headwinds.
• Sensex: Fell over 120 points to trade near 73,480 in early morning deals.
• Crude Oil: Brent crude hovered near $115 per barrel, while WTI traded around $101 per barrel, posing inflation risks for India.
• FII Activity: Foreign Institutional Investors remained net sellers, offloading shares worth ₹1,462 crore on Monday.
• Jio Platforms IPO: Shares from the ₹30,213 crore public issue are being credited to Demat accounts today, October 27.

Indian Benchmarks Slip as Crude Oil Worries and FII Outflows Persist

Indian equity markets commenced trading on a cautious note Tuesday, with benchmark indices witnessing a decline in early hours. The Sensex was down by over 120 points, trading around 73,480, while the Nifty 50 slipped below its previous close to hover near the 22,700 level. This subdued opening reflects broader concerns stemming from persistently high global crude oil prices and continued selling pressure from foreign institutional investors.

Brent crude futures were trading around $114.90 to $115 per barrel, while US West Texas Intermediate (WTI) crude hovered near $100.85 to $101 per barrel. Elevated oil prices are a significant headwind for India, a major oil importer, as they can fuel inflation, widen the current account deficit, and impact corporate margins. Geopolitical tensions in the Middle East, despite diplomatic efforts, continue to keep crude prices firm, with reports of ongoing attacks on Saudi Arabia.

Adding to the market's woes, Foreign Institutional Investors (FIIs) continued their selling spree. Provisional exchange data indicated that FIIs offloaded Indian equities worth ₹1,462 crore on Monday, contributing to October's total outflows of $4.75 billion. This sustained selling by foreign funds has been a key factor in the recent market volatility. Investors are also closely monitoring the upcoming US Federal Reserve monetary policy decision later this week, which could provide further cues for global markets. Sectorally, early trade saw mixed performance, with some IT and metal stocks facing pressure, while select pharma and auto names showed resilience.

Jio Platforms IPO: Allotment Finalised, Shares Credited to Demat Accounts Today

The much-anticipated Jio Platforms Initial Public Offering (IPO) reached a significant milestone today, October 27, as shares were credited to the Demat accounts of successful applicants. This follows the finalisation of allotment on October 26 for the ₹30,213 crore public issue. The mega IPO, which was open for subscription from October 21 to October 23, 2026, saw an overwhelming response, being subscribed 22.19 times overall.

Retail investors, who applied for a minimum lot of 12 shares, will now see their allotted shares reflected in their Demat holdings. The issue was priced in a band of ₹1,065–₹1,119 per share, valuing Jio Platforms at approximately ₹10.3 lakh crore at the upper end. The strong subscription across all categories, particularly from Qualified Institutional Buyers (QIBs) who subscribed 70.55 times, underscores the high investor interest in India's leading digital services platform. Non-institutional investors subscribed 14 times, while the retail portion saw a subscription of 2.72 times.

The listing of Jio Platforms shares on both the BSE and NSE is scheduled for Wednesday, October 28, at 10:00 AM. Market participants will be keenly watching the stock's debut, with unofficial grey market premium (GMP) reports having indicated a potential listing gain of around 22% above the upper issue price. The successful listing of Jio Platforms is expected to be a major event for the Indian primary market, potentially unlocking significant value for its parent company, Reliance Industries.

More stocks and market news

NBFCs Tighten Rural Lending Amid Monsoon Concerns

Leading non-banking financial companies (NBFCs) in India, including Shriram Finance, Mahindra & Mahindra Financial Services, and Bajaj Finance, are reportedly curtailing fresh loan disbursements in rural markets. This move comes amidst concerns over a weak monsoon season, which is raising potential repayment risks for borrowers in agricultural and allied sectors. The tightening of lending standards and increased focus on collections in drought-affected regions signal a cautious approach by these lenders to manage asset quality and mitigate potential non-performing asset (NPA) risks. This development could impact credit flow to rural economies and affect the growth outlook for some NBFCs.

L&T Technology Services Declares Interim Dividend, Ex-Date Today

L&T Technology Services (LTTS) is in focus today as the stock trades ex-dividend for its interim dividend payout. The company had announced an interim dividend of ₹20 per equity share. With today, October 27, being the ex-date, investors looking to be eligible for this dividend needed to purchase shares by the end of Monday's trading session. Such corporate actions often attract investor interest, reflecting the company's financial health and commitment to shareholder returns.

Meta Plans Up to $95 Billion Equity Raise for AI Development

Global technology giant Meta Platforms is reportedly seeking to raise a substantial amount of capital, up to $95 billion, through a combination of common and preferred stock offerings. This massive equity raise is aimed at supporting the company's ambitious development plans in artificial intelligence (AI). The offering includes approximately $35 billion in common and preferred stock, along with a plan to raise up to $60 billion via an at-the-market (ATM) share sale program for its Class C non-voting shares. This move highlights the significant capital requirements for advanced AI research and development, and its scale could influence sentiment across the global technology sector, including Indian IT stocks.

Market context

As of 10:00 AM IST, the Nifty 50 was trading around 22,700, down approximately 0.2%, while the Sensex was at 73,480, down about 0.17%. The broader market also showed a cautious tone. The India VIX, a measure of market volatility, remained elevated. Globally, Asian markets presented a mixed picture, with Japan's Nikkei 225 and South Korea's Kospi showing gains, partly driven by optimism in the AI sector, while other markets traded flat to negative. Brent crude oil continued to trade near $115 per barrel, maintaining pressure on import-dependent economies like India. The Indian Rupee (INR) was seen weakening slightly against the US Dollar (USD), trading around 95.30-95.35.

Why these stories matter

The current market weakness underscores the persistent influence of global macro factors, particularly crude oil prices and FII flows, on Indian equities. Elevated oil prices directly impact India's inflation trajectory and corporate profitability, while sustained FII selling can dampen overall market sentiment. The Jio Platforms IPO's share credit marks a significant event for millions of investors and sets the stage for a major listing, potentially injecting fresh liquidity and interest into the market. The cautious stance of NBFCs in rural lending highlights emerging risks in the domestic economy due to monsoon uncertainties, which could have broader implications for consumption and growth. Meanwhile, corporate actions like LTTS's dividend signal underlying company strength, and global tech developments like Meta's massive AI funding round can shape sector-specific sentiment worldwide.

What to watch next

• Jio Platforms Listing: All eyes will be on Jio Platforms' market debut on October 28, assessing its listing performance and post-listing price action.
• US Federal Reserve Decision: The outcome of the US Fed's monetary policy meeting later this week will be crucial for global market direction and currency movements.
• Q2 Earnings Season: The ongoing second-quarter earnings season will continue to provide company-specific triggers and insights into corporate performance.
• Crude Oil Price Movement: Any significant shifts in global crude oil prices, influenced by geopolitical developments, will remain a key monitorable for Indian markets.
• FII Investment Trends: The direction of foreign institutional investment flows will continue to be a critical determinant of market sentiment.

Sources

• ANI: Indian equity markets open lower on Tuesday as crude oil prices hover near USD 115 per barrel
• Upstox: Jio Platforms IPO listing: Share credit and refund date
• The Economic Times: Sensex Today | Nifty 50 | Stock Market Live Updates: NBFCs curb fresh loans in rural markets as weak monsoon raises repayment risks
• NSE India: Corporate Actions - L&T Technology Services Limited
• Times of India: Meta seeks up to $95bn in equity

FAQ

1. Why are Indian markets falling today?

Indian markets are trading lower today primarily due to elevated global crude oil prices, which pose inflation risks for India, and continued selling by Foreign Institutional Investors (FIIs). Caution ahead of the US Federal Reserve's policy decision also contributes to the subdued sentiment.

2. What is the status of the Jio Platforms IPO today?

Today, October 27, 2026, shares from the Jio Platforms IPO are being credited to the Demat accounts of successful allottees. The company is scheduled to list on the stock exchanges tomorrow, October 28.

3. How are crude oil prices impacting the Indian market?

High crude oil prices, with Brent near $115 per barrel, are a significant concern for India as it imports a large portion of its oil. Elevated prices can lead to higher inflation, increase the country's import bill, and potentially squeeze corporate profit margins, thus negatively impacting market sentiment.

4. Why are NBFCs tightening lending in rural areas?

NBFCs are restricting fresh loans in rural markets due to concerns over a weak monsoon season. A poor monsoon can affect agricultural output and rural incomes, increasing the risk of loan defaults and impacting the asset quality of lenders.

5. What is the significance of Meta's planned equity raise?

Meta Platforms' plan to raise up to $95 billion in equity is significant as it highlights the massive capital investments required for advanced Artificial Intelligence (AI) development. This move could influence investor sentiment across the global technology sector, including companies in India focused on AI and digital transformation.

6. What is the current FII activity in Indian markets?

Foreign Institutional Investors (FIIs) have been net sellers in Indian equities. On Monday, October 26, FIIs sold shares worth ₹1,462 crore, contributing to total outflows of $4.75 billion in October so far.

Disclaimer: This article is for educational purposes only. It does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.