Indian markets extended their rally for the third day; Sensex climbed five hundred ninety-five points to eighty-four thousand four hundred sixty-six, up zero point seventy-one percent, while Nifty fifty rose one hundred eighty points to twenty-five thousand eight hundred seventy-six, up zero point seventy percent.
Bank Nifty finished strong at fifty-eight thousand five hundred five, with Midcap and Smallcap indices each advancing around zero point eight percent, showing broad-based participation.
Market sentiment remained bullish, fueled by optimism on the US government shutdown resolution and hopes for an India-US trade deal possibly finalizing in November.
The rupee closed at approximately eighty-eight point fifty-nine to the US dollar, marking a mild decline and raising concerns about import-driven inflation and cautiousness among foreign investors.
Asian Paints led gainers with a six point fifty-eight percent jump on a big quarterly profit; Adani Enterprises rose five percent after rights issue plans, and Tech Mahindra gained three point forty-eight percent amid sector tailwinds.
Other strong performers included TCS and LTIMindtree in the IT sector, while Tata Steel, Shriram Finance, and Bharat Electronics were among top losers due to respective sector and asset-quality worries.
Nifty fifty broke past resistance at twenty-five thousand eight hundred fifty; immediate target is twenty-six thousand with key support between twenty-five thousand two hundred and twenty-five thousand four hundred.
Bank Nifty’s resistance around fifty-eight thousand five hundred to fifty-eight thousand six hundred is critical; a breakout could target fifty-nine thousand.
IT sector was the top performer, up two point zero-four percent, followed by auto and pharma; realty, metal, and healthcare lagged.
SEBI moved to set up a working group to review short selling and Securities Lending and Borrowing, signaling regulatory modernization, while the RBI intervened to support the rupee and bond markets.
Gold on MCX closed at twelve thousand four hundred forty-one rupees per ten grams, up zero point sixty-eight percent; silver also advanced, reflecting risk-off buying as geopolitical risks stayed in focus.
Crude oil hovered at roughly sixty-four dollars per barrel, with prices pressured by OPEC actions and weak demand.
Positive momentum was boosted by US shutdown deal progress and advances on the India-US trade deal, both key to market sentiment, especially for export-oriented firms.
Technical outlook is positive for Nifty towards twenty-six thousand if support at twenty-five thousand four hundred holds; for Bank Nifty, a bullish range between fifty-seven thousand eight hundred and fifty-eight thousand five hundred is expected.
Principal risks: delays in the US-India trade deal, global volatility, and changes in FII flows.
Actionable takeaway: Remain bullish on IT sector strength, but consider booking profits if Nifty spikes to twenty-six thousand; manage risks given uncertainty over trade and policy updates.
Listeners are encouraged to tune in for tomorrow’s morning wrap and send in questions for further insights.