{
  "id": 13917622,
  "title": "Early gains wiped out: Nifty slides below 22,400 as IT, FMCG and banking drag markets lower",
  "url": "https://urgent.news/2026/10/12/early-gains-wiped-out-nifty-slides-below-22-400-as-it-fmcg-and",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T08:43:14.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/early-gains-wiped-out-nifty-slides-below-22400-as-it-fmcg-and-banking-drag-markets-lower/article71574240.ece"
  },
  "original_language": "en",
  "account": "The Nifty and Sensex indices experienced a swift reversal of their early gains on Monday, slipping below their respective levels of 22,520.45 and 72,472.33. Profit-taking at higher levels led to a decline of 160.95 points, or 0.71 per cent, for the Nifty 50 to 22,359.50, and a drop of 599.44 points, or 0.83 per cent, for the Sensex to 71,872.89. Among the key movers, Bajaj Auto led gains with a rise of 2.86 per cent to ₹10,058, while Tech Mahindra suffered the steepest loss of 3.61 per cent to ₹1,459.50. Sectors such as IT, FMCG, banking, telecom and energy witnessed significant losses. Commodities like MCX Crude Oil and WTI crude oil also declined, influenced by factors such as US-Iran tensions and Russian diesel supplies. The rupee strengthened slightly against the US dollar, impacting domestic bullion prices. The mid-session reversal highlights the cautious stance of investors despite short-term support, with market participants remaining vigilant awaiting key data releases.",
  "summary": "Bajaj Auto, Dr Reddy’s Labs and BSE lead gainers on the Nifty 50",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}