Sensex surged 905 points and Nifty topped 22,900 on Thursday, October 29, 2026, following heavy buying in banking and FMCG stocks. Markets rallied over 1% as crude oil prices fell. Vinod Nair said, "FMCG led gains on resilient consumer demand, while financials, IT, realty and power strengthened," helping boost overall market sentiment.
Stock markets rallied more than 1% on Thursday (October 29, 2026), with benchmark Sensex soaring 905 points on heavy buying in banking and FMCG shares, and easing crude oil prices.
The 30-share BSE Sensex jumped by 905.01 points, or 1.24%, to close at 74,151.04.
The 50-share NSE Nifty settled 237.90 points, or 1.05%, higher at 22,936.75.
Among the Sensex constituents, Adani Ports emerged as the biggest gainer by rising over 5% after the company reported an 18% increase in consolidated net profit to ₹3,682.44 crore for the September quarter, driven by higher revenue.
Kotak Mahindra Bank, Power Grid, Eternal, Bajaj Finance, State Bank of India, Hindustan Unilever, Titan, NTPC, Bharat Electronics Ltd and Infosys also closed in the positive territory.
Trent, Maruti Suzuki India, Tech Mahindra and HDFC Bank were among the laggards.
"Indian equities rallied as the U.S. Fed's rate pause, marginal easing in crude, and renewed institutional buying improved risk appetite despite a challenging external backdrop.
"FMCG led gains on resilient consumer demand, while financials, IT, realty and power strengthened, with mid- and small-caps also participating, signalling healthier market breadth," said Vinod Nair, Head of Research, Geojit Investments Ltd.
He said the broader thesis remains supported by selective earnings resilience and domestic demand stability, although elevated input costs could test margin durability. However, elevated Brent, rupee weakness, rising domestic bond yields and prevailing geopolitical uncertainty remain key risks.
Brent crude, the global oil benchmark, fell 1.18% to $113.96 per barrel.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index ended lower, while Japan's Nikkei 225 benchmark settled in the green.
European markets were trading higher in mid-session deals on Thursday (October 29, 2026). U.S. equity markets ended higher in overnight deals on Wednesday (October 28, 2026).
"Near-term momentum will hinge on domestic earnings breadth, continuity of foreign flows and moderation in energy prices, while the global inflation trends and policy signals from other major central banks could keep yields and capital flows volatile," Mr. Nair added.
Foreign Institutional Investors (FIIs) bought equities worth ₹871.83 crore on Wednesday (October 28, 2026), while domestic institutional investors (DIIs) were also net buyers of shares worth ₹643.35 crore, according to the exchange data.
On Wednesday (October 28, 2026), the 30-share BSE Sensex declined 352.64 points to settle at 73,246.03, while the NSE Nifty50 dropped 50.90 points to close at 22,698.85.