Nifty Sinks 1.11% to 22,889 as HDFC Bank Drags! | India-New Zealand FTA to Unlock $6B Opportunity..19-Oct-26

A severe bout of institutional selling shattered the 23,000 baseline on Dalal Street today as the Nifty tumbled 1.11% to close at 22,889. The sell-off was front-lined by HDFC Bank, which shed 2% following Q2 FY27 results that flagged net interest margin compression. Broad-based weakness consumed Private Banks, IT, and Auto. However, domestic exporters found a structural silver lining as the India-New Zealand FTA is set to kick off on October 20, unlocking a massive $6-billion export gateway for Pharma and Manufactured goods. Join tonight’s wrap-up to map the downside support grid for 21-Oct-26.