Freaky Friday on Dalal Street: Sensex, Nifty reverse morning gains and crash for 3rd session — What's dragging markets?

What happened: Sensex and Nifty erased early gains and fell for a fourth session on Friday, October 23, as surging crude oil prices, a global sell-off and broad-based mid-cap and small-cap selling weighed on sentiment. Key numbers: Sensex Why it matters: Higher energy import costs can pressure inflation, the rupee, corporate margins and the external balance, and Vinod Nair of Geojit said near-term direction will depend on quarterly earnings delivery. V K Vijayakumar called Brent's surge a major negative but cited lower US Treasury yields, rupee appreciation and IPO liquidity as offsets.

Sensex and Nifty reversed morning gains, crashing for a third session.

Sensex and Nifty reversed morning gains, crashing for a third session. — impact context not separately stored; see What changed.