Sensex and Nifty End Flat on October 27, 2026 as Smallcaps Jump 2.7%

Sensex and Nifty ended flat on Tuesday, October 27, 2026, but calling it a quiet day would miss the real action. The BSE Sensex slipped just 8.08 points, or 0.01%, to 73,598.67, and the NSE Nifty 50 lost 3.45 points, or 0.02%, to 22,749.75, as Business Standard (PTI) reported. Underneath the frontline indices, smallcaps rallied hard.

It was also the monthly F&O expiry day, which explains a lot of the chop. The Sensex swung between a high of 73,762.98 and a low of 73,179.41 before settling almost exactly where it started.

Why the Sensex and Nifty ended flat while smallcaps ran

The headline indices were held back by banks and IT. Nifty Bank fell 0.72% to 53,974.90, and IT, oil & gas and private bank indices each lost about 0.5%, according to Moneycontrol’s closing report. Among Sensex stocks, SBI, Axis Bank, TCS, Asian Paints, HDFC Bank and ICICI Bank were the main drags. Asian Paints was the biggest Nifty loser, down 1.94%.

Broader markets told a different story. The Nifty smallcap index rose 2.7% and the Nifty midcap index added 0.8%, Moneycontrol noted. On the BSE, the SmallCap Select index jumped 2.59% and the MidCap Select index gained 0.88%. Market breadth was positive even though the Nifty closed in the red.

Sector-wise, media led with a 3.6% gain, realty and pharma added about 2% each and autos rose 1.4%.

Stocks that moved

• Tata Consumer Products was the top Nifty gainer, up 6.78% at ₹1,000 after its Q2 numbers.
• Ather Energy rose 6% after HSBC kept its buy rating and raised its target price to ₹1,800.
• Transformers and Rectifiers (India) gained 5% after announcing a ₹1,250 crore plan for three greenfield plants in Gujarat.
• Sigma Advanced Systems added 5% on an order worth ₹973 crore from a NATO customer.
• Aequs fell 9% after its Q2 consolidated loss widened to ₹52.3 crore, and Dalmia Bharat lost 6% after HSBC cut it to hold.

Not everything was rosy in the broader market, though. Nearly 180 stocks touched 52-week lows, including Hindustan Unilever, Dabur India and IRCTC, per Moneycontrol.

Crude, FII selling and the Fed

The big overhang is still oil. Brent crude was at $115.8 a barrel, barely changed on the day and close to a six-month high, Business Standard reported.

Foreign investors aren’t helping either. FIIs sold equities worth ₹1,462.49 crore on Monday, October 26, according to exchange data cited by PTI. That came on a day when the Sensex had rallied 482.92 points, or 0.66%, to 73,606.75. We covered that bounce in our October 26 market report, and the flow numbers in our FII-DII data post.

Next up is the US Federal Reserve’s policy decision on Wednesday. Religare Broking’s Ajit Mishra said the lack of a clear directional trend “reflects continued uncertainty following the recent market correction”. Analysts quoted by Moneycontrol see the Nifty’s 20-day exponential moving average, around 22,825, as the level to clear for the recovery to extend.

Our read: Tuesday was a stock-picker’s session. Index investors saw nothing, while smallcap holders had a good day. Whether that breadth holds will depend on crude and what the Fed signals.

Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making any investment decision.