Sensex Index Rises by 1600 Points During the Day; India's Market Capitalization Exceeds 500 Trillion Rupees

The Sensex and Nifty 50 stock indices continued their upward trend for the sixth consecutive week on Thursday. The growth was driven by softening crude oil prices, an inflow of funds from foreign funds, and the results of the US midterm elections.

The BSE Sensex opened positively at 78,910.94, showing a rise of 1,609 points or 2.08 percent. The Nifty 50 increased by 418 points or 1.74 percent, starting the session at 24,378.05. Both indices gained initial momentum: Sensex reached a daily high of 78,922, and Nifty 50 touched the level of 24,423.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that due to strengthening economic support factors, the upward market trend is likely to continue. He emphasized that the sharp drop in Brent crude oil prices was the strongest positive factor for the market.

He explained that this decline is linked to hopes for a swift resolution of the conflict between the US and Iran, as this conflict and high commodity prices significantly contributed to the Republicans' defeat in the midterm elections.

By 9:50 AM, the BSE Sensex was trading at 78,884, representing a rise of 1,576 points or 2.04 percent. The Nifty 50 rose by 454 points or 1.90 percent, reaching 24,414. All sectors saw gains, with Nifty Auto, Nifty Financial Services, Nifty Realty, and Nifty Cement showing increases of over 2 percent. Broader markets also demonstrated increased activity: Nifty Midcap 100 and Nifty Smallcap 100 indices advanced by approximately 0.9–1.1 percent.

Thanks to today's rise, the market capitalization of companies listed on the BSE increased by 6.6 trillion rupees, reaching 501.1 trillion rupees at the open. In the previous session, India's total market capitalization stood at 494.4 trillion rupees.

Oil Price Decline

Brent crude futures fell by more than 10 percent, trading below $100 per barrel after the announcement of the US midterm election results. In the last check, Brent Crude dropped by 0.49 percent to $94.09, while WTI crude fell by 0.82 percent to $87.40. Furthermore, according to PTI, Iran lifted transit restrictions on commercial vessels in the strategic waterway of the Strait of Hormuz for four countries, including India.

Devarsh Vakil, Head of Primary Research at HDFC Securities, stated that global energy markets experienced a sharp downturn when Brent Crude prices plummeted by 10 percent below the $100 per barrel mark. The prolonged fall in oil prices was caused by the shift in power balance in Congress and hopes for de-escalation in the ongoing conflict involving Iran. The reduction in energy costs served as a favorable factor for stocks.

Shift in Iranian War Strategy

Experts believe that the Democrats' victory in the US midterm elections could lead to a faster conclusion of the months-long conflict with Iran, which has disrupted global energy markets. US President Donald Trump told the Financial Times that he has no immediate plans to escalate military action in West Asia. Meanwhile, Vice President JD Vance directly linked the Republicans' defeat to the foreign conflict.

Ankita Pathak, Head of Global Investments at Ionic Asset, noted that the year following the midterm elections is historically favorable for stocks. She added that inflation, yield, the dollar, and the situation in the US and Iran are now of greater importance. She suggested that one of the major sources of market uncertainty would be behind after this event and historically preceded year-end growth in the following three months.

India-US Trade Negotiations

According to experts, the Republicans' defeat may provide India with more opportunities to conduct a more balanced trade agreement with the US, even if President Donald Trump may increase pressure on New Delhi to conclude a deal quickly. Richard Rossow, Senior Fellow and Chair for India and Developing Asia at CSIS, believes that the election result will increase Congress's attention to the President's trade policy and potentially limit his ability to impose unilateral tariffs.

Tanay Dalal, Senior Vice President of Economic Research at Axis Bank, noted that the US midterm elections turned out stronger than many observers expected, as several traditionally Republican strongholds came under pressure. One possible consequence could be a more fragmented approach to AI regulation. For India, he believes that 'a less uniform regulatory environment could support demand for outsourced technology and business services exports.'

FII Activity

According to exchange data, Foreign Institutional Investors (FIIs) purchased shares worth over 17,000 crore rupees during the first three sessions of this week (3,114.68 crore rupees on Monday, 6,836.81 crore rupees on Tuesday, 7,284.03 crore rupees on Wednesday).

Vijayakumar added that the drop in crude oil prices occurs against the backdrop of significant resilience shown by the Indian economy and substantial improvement in corporate earnings. He also mentioned that the hope for the cancellation of the long-term capital gains tax in the upcoming budget completely changed the FII stance towards India.

Nifty Technical Analysis

Pabitro Mukherjee, Deputy Vice President of Research at Bajaj Broking, stated that keeping Nifty above the 24,000 level will usher in a new phase of growth towards levels of 24,400 and 24,700 in the coming sessions. A pause in the current strong rally will only signal if a lower high and a lower low are formed on the daily chart.

He also noted that the short-term support for Nifty has been revised upwards to levels of 23,200–23,400, which is the intersection point of the 50-day EMA and the current week's breakout zone. Remaining above this level will support the overall positive sentiment, and dips should be used as buying opportunities.

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www.aajtak.inOctober 30, 07:30

Indian stock market shows slowdown: Sensex and Nifty experience sharp decline amid global sell-off

The Indian stock market started weakly on the last trading day of the week. Volatility was observed during the first hour of trading. The market initially showed a slight increase: Nifty 50 approached the 23,000 level, rising by approximately 50 points, and Sensex grew by more than 100 points, reaching around 74,500. However, Bank Nifty showed a drop of over 200 points. Shortly after this, Sensex and Nifty shifted from the green zone to the red.

Experts note that rising crude oil prices create difficulties for the market and limit the potential for sustainable growth. The market is being pressured by active selling in global technology stocks and rising oil prices. Nevertheless, purchases by domestic institutional investors provided some support to the market and helped prevent a more significant downturn.

Due to concerns about Houthi attacks on oil fields in Saudi Arabia, the price of Brent Crude exceeded $116 per barrel, and the price of West Texas Intermediate (WTI) Crude rose above $103 per barrel. Furthermore, reports have emerged about a possible start of US military action against Iran following the mid-November elections, which heightens geopolitical uncertainty.

Meanwhile, US benchmark indices NASDAQ and Dow Jones closed lower yesterday evening. Although selling by FIIs has recently weakened and periodic buying has been observed, the overall market situation does not look favorable for growth. For Nifty, the 23,000 level remains the most important; if the index strengthens above this level, the next target could be 23,200–23,250. Meanwhile, the zone of 22,650–22,700 may act as important support during a decline.

For maintaining weekly growth, it is critical that Nifty closes above the 22,600 mark, so investors are closely watching the market close on the last trading day of the week. Earlier, Bank Nifty closed near its daily high, which is considered a positive signal for the market. For the banking index, the 55,000 level is important; a breakthrough above it could simplify the path to 55,500, while support remains around 54,500. If Bank Nifty holds above this level, market stability may be maintained.

Attention will also be paid to the second-quarter results of companies, which may play an important role in determining the direction of the stock market. Second-quarter results for Reliance Industries and Jio Platforms will be announced today, and investors are awaiting the financial reports of these two companies. The financial results and management comments may influence stock movements in the next trading session, and fluctuations in stock prices will be monitored after the publication of quarterly reports, although the most significant results will appear after the market close.

www.aajtak.inOctober 29, 05:56

Expert warns of potential rise in gasoline and diesel prices after Diwali due to global oil prices

Gasoline and diesel prices in India may increase after the Diwali festival as rising global crude oil prices increase the burden on the government and state-owned oil refining companies. Energy expert Narendra Tanedge told Business Today TV that changes in domestic fuel prices could occur between Diwali and Christmas.

He warned that people cannot remain unaffected by growing global energy tensions. The rise in global prices will inevitably affect India, which could lead to an increase in the cost of gasoline and diesel fuel.

Tanedge added that a fuel price hike after Diwali and before Christmas is expected, noting that it will be extremely difficult for the government and oil companies to constantly cope with rising prices. Currently, Indian oil companies are under pressure due to high oil prices.

This pressure exceeds the headlines of crude oil prices. According to an Axis Bank Research report from October 23, the price of Brent Crude rose above $110 per barrel, and Dated Brent reached $140. Tanedge explained that the actual price paid by Indian refineries could be significantly higher than the stated market price due to increased costs for freight, marine insurance, and tanker crew wages.

He specified that when considering the landed price, it could be at least $20 higher than this base price, depending on the company and region. For India, additional costs could amount to about $25–$27 per barrel, depending on the source of raw materials and the refinery.

The average price of the Indian crude oil basket from October to October 26 rose by approximately 4% month-on-month, reaching $120.46 per barrel, the highest monthly average since March 2012. This increase occurred amid heightened tensions in the Middle East, leading to increased geopolitical uncertainty, marine insurance premiums, and freight rates. By October 26, the price of the Indian crude oil basket reached $123.72 per barrel.

Meanwhile, in 2026, global crude oil prices have risen by almost 80%; on Tuesday evening, Brent traded at $114.6 per barrel, WTI at $100.9, and Murban at $117.7. Increased transportation costs, marine insurance premiums, and geopolitical tensions in the Middle East have further increased the cost of crude oil imports.

The central government, state governments, state-owned oil refining companies, and the Reserve Bank of India are jointly bearing the brunt of the oil crisis. Axis Bank Research suggested in its October 23 report that this support would amount to 1.7% of GDP, based on an assumed average crude oil price of $100 per barrel; furthermore, every $10 increase in retail fuel prices increases the burden on GDP by 20 basis points. From April to September, India's crude oil imports grew by 46.3% year-on-year, reaching $90.6 billion.

Tanedge cautioned that the government and oil companies cannot indefinitely shield consumers from financial strain. He also emphasized the need to invest in foreign oil and gas assets to diversify crude oil supplies and ensure long-term supply for India.

Axis Bank Research forecasts that fiscal measures, such as increased duties and economic stabilization funds, could free up the equivalent of 0.6% of GDP, helping to limit the central government's financial decline by 20–30 basis points in the 2027 fiscal year. However, maintaining high crude oil prices in the long term may shift the majority of costs onto consumers.

www.aajtak.inOctober 25, 12:26

Factors that will influence the stock market movement next week: oil prices and second-quarter reports

Last week, the stock market experienced significant turbulence, and on Friday, the last trading day, the Sensex and Nifty indices closed in negative territory. Several factors capable of influencing market dynamics exist for the upcoming week, among which the continued sharp rise in crude oil prices is the most significant.

A general trend towards index decline was observed on the last trading day. The BSE Sensex closed at 73,123, showing a drop of 125 points, while the NSE Nifty fell by 87 points, ending trading at 22,600.

Throughout the week, various global factors influenced the stock market. Due to rising crude oil prices and selling by foreign investors, the NSE Nifty dropped by 2.8% after two weeks of growth, and the BSE Sensex also declined by 2.1% over the short week, including a holiday.

Crude oil prices remain a serious issue and could have a substantial impact on market movement next week. The international price of Brent Crude reached $117 per barrel. Gorang Shah, Senior Vice President of Geojit Investments, told Business Today that high oil prices are creating selling pressure in the domestic market. He emphasized that high crude oil prices cause concern for the Indian economy, as the country depends on oil imports to meet its energy needs.

Last week, which was four days long due to a holiday, foreign investors showed unstable activity. They made stock purchases in two sessions and significant sales in the remaining two sessions. Specifically, on October 19 and October 22, investors sold Indian stocks worth about 4,606 crore rupees, while on October 21 and October 23, they purchased stocks worth 1,909 crore rupees. The dynamic of these investors next week will also be important.

The stock market dynamics next week will also depend on the second-quarter results of several large corporations. The upcoming week will be packed with corporate reports. Many large companies plan to announce their results for the September quarter (Q2 FY27). The schedule includes:
October 26: Paytm, REC, Tata Consumer Products, Bank of Maharashtra, and Ether Energy
October 27: Larsen & Toubro (L&T), Maruti Suzuki India, Bajaj Auto, Tata Steel, and Cipla
October 28: HUL, Adani Ports, Adani Enterprises, TVS Motor Company, Hyundai Motor India, and Hero MotoCorp
October 29: Asian Paints, Trent, Lauros Labs, Ambuja Cements, and Suzlon Energy
October 30: Sun Pharma, BEL, Indian Oil Corporation (IOC), Bank of Baroda, and Gail India