Mumbai woke up to a flat market on Thursday morning. By the closing bell, the mood had changed completely. The Sensex jumped 905 points, the Nifty pushed past 22,900, and buyers who had stayed on the sidelines for most of the week came back in force.
It was the kind of session traders remember. The rally was broad, banks and everyday consumer stocks led the gains, and a softer crude oil price gave the market room to breathe. After six losing sessions in the previous seven, Dalal Street finally had a day it could enjoy.
Sensex closes at 74,151, Nifty at 22,936
The 30-share BSE Sensex climbed 905.01 points, or 1.24 percent, to close at 74,151.04. The 50-share NSE Nifty rose 237.90 points, or 1.05 percent, to settle at 22,936.75. Both indices touched higher levels during the day, with the Sensex reaching an intraday high of 74,166.16 and the Nifty peaking at 22,961.95.
The contrast with Wednesday was sharp. A day earlier, the Sensex had fallen 352.64 points to 73,246.03 and the Nifty had slipped 50.90 points to 22,698.85. Thursday’s rebound more than wiped out that loss and put the Nifty firmly back above the 22,900 mark, a level analysts had been watching closely.
Buying picked up through the afternoon. By the final hour, the Sensex was up more than 800 points and the advance had spread well beyond a handful of heavyweights. Midcap and smallcap stocks joined in, with the Nifty Midcap 100 closing nearly 1 percent higher.
Why the market rallied today
Three things lined up in the market’s favour. First, the US Federal Reserve held its benchmark interest rate steady on Wednesday, as widely expected, and gave little hint of an immediate further increase. That steadied global sentiment and eased some of the pressure on emerging market equities.
Second, crude oil cooled a little. Brent crude fell 1.18 percent to $113.96 a barrel. Oil is still very expensive by recent standards, and it remains a worry for India as a large importer, but even a small fall helped sentiment on a day when traders were looking for a reason to buy.
Third, institutions were buying on both sides. Foreign institutional investors bought equities worth Rs 871.83 crore on Wednesday, while domestic institutional investors were net buyers of Rs 643.35 crore, according to exchange data. When foreign and domestic buyers move together, the market usually notices.
Vinod Nair, head of research at Geojit Investments, said Indian equities rallied as the Fed’s rate pause, marginal easing in crude, and renewed institutional buying improved risk appetite despite a challenging external backdrop. He added that FMCG led gains on resilient consumer demand, while financials, IT, realty and power strengthened, signalling healthier market breadth.
Adani Ports leads, banks and FMCG follow
Adani Ports and Special Economic Zone was the star of the day. The stock closed 6.17 percent higher, a day after the company reported higher consolidated profit for the September quarter, driven by higher revenue. Adani Enterprises rose 5.69 percent, even though its September-quarter profit fell sharply on paper, because its revenue from operations jumped more than 75 percent to Rs 37,215.62 crore.
Banks did much of the heavy lifting. Kotak Mahindra Bank gained 4.09 percent, State Bank of India closed higher, and Bajaj Finance was among the gainers. Power Grid rose 4.22 percent after the company fixed November 6 as the record date for its first interim dividend of the financial year. Eternal added 3.40 percent, while Hindustan Unilever, Titan, NTPC and Infosys also ended higher.
Not everything rose. Trent fell 1.68 percent and was the weakest Nifty stock of the day, followed by Maruti Suzuki, down 1.11 percent, and SBI Life Insurance, down 1.06 percent. In the midcap space, Hero MotoCorp fell 4.09 percent. Autos and some commodity-linked stocks stayed under pressure as high energy and input costs continued to squeeze margins.
What traders will watch next
The rally answers one question: whether buyers would return after a weak week. The next question is whether they stay.
Analysts point to the same three tests in the days ahead: the breadth of company earnings, the flow of foreign money, and the price of crude. Nair cautioned that elevated Brent, rupee weakness, rising bond yields and geopolitical uncertainty remain key risks.
For now, Thursday belonged to the buyers. A 905-point jump does not erase the worries that have hung over the market this month, but it changes the conversation, and Dalal Street closed with momentum.
This article is for information only and is not investment advice. Readers should consult a financial adviser before making investment decisions.
FAQs
How much did the Sensex rise on October 29, 2026?
The Sensex rose 905.01 points, or 1.24 percent, to close at 74,151.04.
Where did the Nifty close on October 29, 2026?
The Nifty rose 237.90 points, or 1.05 percent, to settle at 22,936.75, above the 22,900 level.
Which stock gained the most among Nifty stocks?
Adani Ports and Special Economic Zone led the Nifty pack, closing 6.17 percent higher after its September-quarter results.
Why did Indian markets rally on October 29?
The US Federal Reserve held rates steady, crude oil eased slightly, and both foreign and domestic institutional investors bought shares, lifting banks, FMCG, IT, realty and power stocks.
Which stocks fell on October 29?
Trent, Maruti Suzuki and SBI Life Insurance were among the main losers, while Hero MotoCorp fell in the midcap segment.
