Indian benchmarks closed higher on October 29, 2026: the Sensex added 905.01 points to 74,151.04 and the Nifty 50 gained 237.90 points to 22,936.75, according to The Economic Times and the recorded closing figures. The broad-based rally added nearly Rs 5 lakh crore to the aggregate market capitalization of all listed companies on the Bombay Stock Exchange, elevating total market value beyond Rs 477 lakh crore.
Broader market indices participated in the upward momentum, with the Nifty Midcap 100 and Nifty Smallcap 100 both rising over 1 percent. Market breadth across the National Stock Exchange remained comfortably positive, recording 1,995 advancing shares against 1,228 declining stocks, while 105 issues remained unchanged.
Market commentary cited the U.S. Federal Reserve’s decision to hold interest rates, but the supplied accounts do not isolate one announcement as the sole cause of the equity move. In public remarks following the decision, Fed Chairman Kevin Warsh indicated that prevailing monetary policies are demonstrating observable traction in managing price stability, dampening immediate expectations of additional rate increases.
Investor sentiment gained additional strength after Union Finance Minister Nirmala Sitharaman indicated that discussions around long-term capital gains tax and securities transaction tax were ongoing, stimulating expectations of fiscal adjustments in the forthcoming Union Budget.
Institutional capital flows provided additional support as foreign institutional investors turned net buyers, purchasing domestic equities valued at roughly Rs 872 crore on Wednesday, following net purchases of Rs 4,198 crore on Tuesday. In foreign exchange trade, the Indian rupee gained 11 paise to touch 95.17 against the US dollar, aided by moderating dollar strength and softening US Treasury yields.
In 2025, foreign portfolio investors sold about $18 billion worth of Indian equities during global monetary tightening cycles, according to Kotak Neo.
Kotak Neo estimated that foreign portfolio investors had withdrawn close to $30 billion from Indian equities during 2026, raising concern about a possible record-year outflow.
The sharp advance on Thursday contrasted with Wednesday's subdued trading, when the Sensex fell 352.64 points, or 0.48 percent, to close at 73,246.03 after plunging 995 points to an intraday trough of 72,603.57. On the same day, the Nifty 50 slipped 50.90 points, or 0.22 percent, settling at 22,698.85 under pressure from information technology heavyweights and elevated crude oil prices.
The BSE Sensex snapped a two-day losing streak to close at 74,151, while the Nifty settled at 22,936.75 on Thursday.
Ahead of Thursday's cash market open, GIFT Nifty futures traded around 22,766, rising nearly 33 points or 0.15 percent to signal a constructive opening bias. Sectoral participation saw Nifty FMCG climb around 2 percent to spearhead gains, alongside advances of up to 1 percent across state-run banks and technology shares, while Nifty Auto retreated into negative territory.
Before Thursday’s rise, technical commentary had placed Nifty resistance at 22,800 to 22,840 and support around 22,500. The index subsequently closed above that earlier resistance range. Analysts also cited elevated oil prices and currency movements as risks that could temper the rally; such market forecasts remain conditional.
Technical analysts identified 23,000 as the immediate resistance hurdle for the Nifty, with crucial support placed at 22,800, according to Liquide Blog.
