The BSE Sensex and Nifty both had increases of over 6% in the Samvat 2081.
After extending its winning streak for the fourth straight session on October 20 due to purchasing across all sectors, the Indian equities market concluded the last session of Samvat 2081 on a high note.
Indian equities markets began the day stronger, with the Nifty trading over 25,800. Strong Q2 results led to heavyweights like Reliance Industries and banking names purchasing, which helped the Nifty reach 25,900.
At the closing, the Nifty was up 133.3 points, or 0.52 percent, at 25,843.15, while the Sensex was up 411.18 points, or 0.49 percent, at 84,363.37. The BSE smallcap index increased by 0.6%, while the midcap index gained 0.7%.
The BSE Sensex and Nifty both had increases of over 6% in the Samvat 2081
For the first time, Nifty Bank broke beyond 58,000 and reached a new high of 58,261.55. Nevertheless, it managed to close over 58,000 even with profit booking.
On October 21 and 22, the market will not be open for normal trading. However, on October 21, from 1:45 to 2:45 p.m., the NSE will have a special one-hour “Muhurat Trading” session in honor of Diwali.
“As Samvat 2082 approaches, Indian markets are starting to feel more optimistic. The previous year put investor patience to the test, as India lagged behind its international counterparts while having solid local fundamentals. Nonetheless, it currently seems that an earnings-led rebound is imminent. Structural changes, the introduction of GST 2.0, income tax relief, and an accommodating policy approach that is reducing liquidity restrictions have all contributed to the growth momentum’s continued strength,” said Amisha Vora, PL Capital’s chairperson and managing director.
According to projections, India’s GDP would rise by around 6.8% in FY26, which is among the quickest in the world and highlights the nation’s strong economic story. Earnings downgrades have mostly bottomed out, valuations are fair, and domestic inflows are still showing incredible resilience despite the caution of international investors.
This makes it possible for Indian stocks to do better in the next Samvat. India is a macro-stable, liquidity-rich, and policy-supported economy, despite ongoing global challenges including trade frictions and declining GDP. Due to a resurgence in corporate profits and widespread economic growth, investors will have the chance to take part in India’s next phase of compounding in the next year,” she said.
Major Nifty gainers were Reliance Industries, Shriram Finance, Bajaj Finserv, Cipla, and Dr. Reddy’s Labs; losses included ICICI Bank, Eternal, Adani Ports, JSW Steel, and M&M.
Sector-wise, the PSU Bank Index was up 3%, telecom and oil and gas were up 1% each, while IT, real estate, metal, and pharmaceutical were up 0.5% each.
Reliance Industries surged 3.5% as Q2 profit increased 14%, Federal Bank jumped 7% following Q2 results, RBL Bank reached a 52-week high on plans to sell the majority stake to Emirates NBD, UTI Asset Management Company shares fell 4% on weak Q2 earnings, and ICICI Bank shares fell 3% after Q2 earnings.
On LoA of Rs 125.92 crore, shares of RPP Infra Projects increased by almost 2%; shares of Bank of India increased by 5% as Q2 standalone profit jumped by 7%; Dixon Technologies India shares decreased by 3% despite Q2 profit being up 71%; shares of DCB Bank surged by 13% after Q2 profit increased by 18%; and Ceat shares added by 11% after Q2 profit increased by 52%, YoY.
Ceat, AU Small Finance Bank, RBL Bank, Federal Bank, Radico Khaitan, Punjab Nantional Bank, Indian Bank, TVS Holdings, Bajaj Finserv, SBI, Bharti Airtel, Aster DM, Cipla, Bajaj Finance, Apollo Hospitals, Hero MotoCorp, TVS Motor, and HDFC Bank were among the nearly 200 stocks that reached their 52-week high on the BSE. To See More, Click
Prospects for October 23
SVP of Research at Religious Broking, Ajit Mishra
Due in large part to encouraging domestic indications, markets started the week on a positive note and continued their upward trajectory. After opening with a gap-up and initially rising, the Nifty index went through a range-bound period till the very finish. Eventually, it closed up 0.52% at 25,843.15. A mixed trend on the sectoral front kept players interested, with banking, IT, and pharmaceuticals driving the advances while metal and autos saw more subdued trading. The midcap and smallcap indexes likewise increased between 0.4% and 0.7%, demonstrating the durability of the larger markets.
Expectations of further foreign inflows amid better global risk sentiment, as well as positive quarterly results from industry titans like Reliance, HDFC Bank, and ICICI Bank, supported the market’s strength. A weaker dollar and the recent easing of U.S. Treasury rates also contributed to an increase in investor confidence.
With every session that goes by, the index rises due to the banking pack’s ongoing buoyancy and rotating purchasing in other sectors. There may be some consolidation before a new breakthrough as the Nifty gets closer to the 26,000 level, but generally the bias is still bullish, with significant support at 25,450 and immediate support around 25,650. We advise sticking to a “buy on dips” strategy and concentrating on large-cap and high-quality midcap equities that exhibit steady relative strength.
Senior Technical Analyst Rupak De of LKP Securities
The market opened the day with a gap-up and continued to be erratic all day. On the top end, the Nifty closed at around 25,850 after reaching a high of 25,926. Even if there was some profit-taking at higher levels, the general attitude is probably going to stay strong and might soon hit 26,000–26,200.
As long as the index continues above 25,700, the technical setting is still bullish; if it falls below that, it may resume its consolidation pattern.