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Markets Take a Dussehra Break: What Happened Before the Pause and What to Watch Next
Sensex and Nifty are shut today, but Monday’s sharp fall and a cautious global mood mean Wednesday’s reopening will be watched closely.
Tuesday, 20 October 2026
Today at a glance
- NSE and BSE: Closed for Dussehra (equity, F&O, currency)
- Commodities (MCX): Morning session closed; evening session opens at 5 p.m.
- Trading resumes: Wednesday, 21 October
- Last session (Mon, 19 Oct): Sensex 73,852.90 (−876.37, −1.17%); Nifty 50 22,888.95 (−257.20, −1.11%)
No trading today, but the market is far from quiet
Dalal Street is on a festival pause. Both exchanges list 20 October as a trading holiday, so there are no live Sensex or Nifty moves today. Investors have a day to digest Monday’s losses and global developments before the opening bell on Wednesday.
For active traders, the day isn’t entirely idle. Commodity trading on MCX stays shut in the morning but reopens for its evening session from 5 p.m.
Monday’s sell-off, in detail
Indian equities closed sharply lower on 19 October. Both benchmarks fell more than 1%, and mid-cap and small-cap indices ended in the red too.
| Index | Close | Change |
|---|---|---|
| Sensex | 73,852.90 | −876.37 (−1.17%) |
| Nifty 50 | 22,888.95 | −257.20 (−1.11%) |
Biggest drags: private-sector banks and IT. Axis Bank fell 4.2% and Infosys 2.6%, while the Nifty IT index lost 1.3%. Tata Motors Passenger Vehicles also slipped.
Bright spots: JSW Steel and ONGC advanced, so the weakness wasn’t uniform across sectors.
Note: these are Monday’s closing figures, not today’s market moves.
Global cues: Asia opens the week cautiously
Asian shares were weaker on Tuesday, with Japan’s Nikkei and South Korea’s KOSPI among the decliners. Reuters attributes the mood to worries about technology valuations, upcoming earnings from large US tech and semiconductor firms, and geopolitical risk. Energy-market uncertainty added to the caution.
A weak Asia doesn’t dictate India’s direction. Domestic earnings, foreign flows, the rupee and commodity prices all count too.
Oil and the Strait of Hormuz
Crude remains a key worry for India, which imports most of its oil. Monday’s coverage tied the cautious mood to elevated oil prices and tension around the Strait of Hormuz. The strait carries roughly a fifth of global oil supply, and it has driven big swings in crude and pressure on the rupee for much of 2026.
Higher crude can raise costs for fuel-intensive businesses and add to inflation pressure, but the impact varies by sector. Energy producers and fuel-dependent companies can react very differently.
Five things to watch on Wednesday
- Global direction: Does Asian weakness continue, and how do US and European markets close?
- Oil and the rupee: Moves in crude and the currency affect costs and sentiment.
- Earnings: Results and management commentary can swing individual stocks and sectors.
- Banks and IT: Do Monday’s heavy losses extend or ease?
- Market breadth: Whether advancing and declining stocks are spread widely or concentrated in a few heavyweights.
These are areas to monitor, not predictions.
Coming up on the calendar
The next market holidays are Diwali-Balipratipada on 10 November and Christmas on 25 December. Exchanges also hold a special one-hour Muhurat Trading session around Diwali; check NSE and BSE circulars for the final date and timing.
Primary IPO Market Buzz: Landmark Offers & Market Developments
The Primary Market continues to witness heightened institutional and retail interest, highlighted by upcoming record-breaking issues and robust anchor demand. Below is a comprehensive overview of the key primary market developments, key IPO parameters, and analytical considerations.
Key Market Highlights & Recent Filings
- Record Institutional Demand for Mega Offers: Leading telecom and digital infrastructure giant Jio Platforms closed its anchor book receiving unprecedented institutional demand exceeding ₹2.5 trillion—marking a record for Indian capital markets ahead of its ₹30,213 crore public offer.
- Active Mainboard Pipeline: Health services provider Paras Healthcare and industrial B2B player Zetwerk Manufacturing are advancing their primary capital market fundraises with active subscriptions and upcoming listings.
- Grey Market Indicators: Grey Market Premiums (GMP) across major upcoming offerings reflect cautious optimism, with high-profile issues indicating healthy double-digit trading premiums prior to subscription launch.
The takeaway
Today’s pause is a chance to step back. One down session doesn’t make a trend. For longer-term investors, fundamentals, valuations, earnings and risk exposure matter more than a single day’s move. Short-term traders should confirm the exchange calendar and check fresh data once trading restarts.
This article is for general information only and is not investment advice or a recommendation to buy or sell any security.
Before you publish:
- I couldn’t independently confirm Monday’s index closes or sector moves, so please check them against NSE or BSE.
- Add live Asian index levels, Brent crude and the USD/INR rate from a market data page if you want today’s numbers; I can slot them in if you paste them.
- I removed the inline “nseindia.com” / “moneycontrol.com” tags. Re-add attributions in your publication’s style.
Sources: FYERS Holiday Calendar, HDFC Bank holiday guide, Finology Ticker holiday list, PL India October holidays, Outlook Business on Hormuz and the rupee