Stock Market Open Report Today, October 21, 2026: Sensex, Nifty Soar as Reliance Gains On Jio Platforms IPO, IT Rallies

Mumbai, Oct 21: Indian equity indices soared after opening higher on Wednesday as IT stocks rallied and Reliance Industries gained as digital services arm Jio Platforms started the biggest ever IPO the country has ever seen. The markets reopened after a one-day holiday on Tuesday for Dussehra. Companies globally reporting better-than-expected profits boosted risk appetite across Asia, where bond yields have stabilised.

The MSCI Asia Pacific Index excluding Japan rose 1.5% on Wednesday, while South Korean stocks gained around 4%. This also helped domestic bulls recover some of their lost ground on Monday, when the markets’ two-day winning streak ended and a portion of the previous week’s gains was wiped out.

Sensex & Nifty 

As of 9:26 am, the Sensex was at 74,544.46, up 691.56 points, or 0.94%, from its previous close of 73,852.90. The Nifty 50 stood at 23,081.75 as of 9:29 am, up 192.80 points, or 0.84%, from its previous close of 22,888.95. 

Both indices have recovered from Monday’s declines of 876.37 points in the Sensex and 257.20 points in the Nifty. The latest gains have also pushed the Nifty back above the 23,000 mark. Both indices rose nearly 3% last week, marking their strongest weekly performance in six weeks. 

Jio Platforms IPO 

Jio Platforms’ IPO opens for subscription today and will close on Friday, October 23. Investors will keep a close watch on the issue throughout the day, with allotment expected on October 26. 

At the upper end of the price band of ₹1,065-1,119 per share, the IPO could raise ₹30,213 crore, making it India’s largest IPO to date. At this price, the company would be valued at ₹10.3 lakh crore. Up to 27 crore shares are being issued, entirely through a fresh issue. The proceeds will be used to repay debt at the company’s telecom arm. A portion of the shares has been reserved for employees and shareholders of Reliance Industries Ltd. 

Reliance Industries Ltd (RELIANCE) was among the top gainers. Other stocks that rose in early trade included Bharti Airtel Ltd (BHARTIARTL), which gained 0.93% to ₹1,892.70 from its previous close of ₹1,875.20. 

IT stocks led the gains, with the Nifty IT index rising 1.81%. However, crude oil prices above $110 a barrel and Iran’s continued hard-line stance towards the US remain key risks to the rally. It remains to be seen whether buying interest will continue throughout the day. 

Gainers and Losers 

Infosys Ltd (INFY) was the top gainer among Nifty 50 stocks, rising 2.47% to ₹1,158.60 from its previous close of ₹1,130.70, a gain of ₹27.90. TCS also rose 2.01% to ₹2,510.40 from ₹2,460.90. 

UltraTech Cement Ltd (ULTRACEMCO) gained 1.96% to ₹10,859 from ₹10,650. Reliance Industries Ltd (RELIANCE) rose 1.77% to ₹1,223.30 from ₹1,202, while HCL Technologies Ltd (HCLTECH) advanced 1.45% to ₹1,399.90 from ₹1,379.90. 

Bajaj Finance Ltd (BAJFINANCE) was the top loser, falling 2.16% to ₹936.65 from ₹957.35. The stock touched an intraday low of ₹929.20. Bajaj Finserv Ltd (BAJAJFINSV) followed, declining 0.37% to ₹1,693.70 from ₹1,700. SBI Life Insurance Company Ltd (SBILIFE) fell 0.33% to ₹1,642.30 from ₹1,647.80. 

HDFC Bank Ltd (HDFCBANK) declined 0.22% to ₹710.40 from ₹712, while Bharat Electronics Ltd (BEL) slipped 0.20% to ₹376.45 from ₹377.20. Three IT stocks featured among the top five gainers, while none of the stocks fell by more than 1%. 

Broad Market & Sectoral Indices 

The Nifty 100 rose 0.59% to 24,035.55. The Nifty 500 gained 0.49% to 22,149.10, while the Nifty Midcap 100 advanced 0.36% to 58,697.45. The Nifty Microcap 250 was the only index in the red, declining 0.06% to 25,290.75. 

Among sectoral indices, the Nifty IT rose 1.81% to 32,085.35. The Nifty Oil & Gas gained 0.93% to 10,642.20, while the Nifty PSU Bank advanced 0.88% to 8,367.05. 

The Nifty Financial Services Ex-Bank index fell 0.29% to 29,288.45. The Nifty Chemicals index declined 0.14% to 27,874.55, while the Nifty MNC index slipped 0.08% to 29,215.20. The Nifty Bank rose 0.43% to 55,728.95. The India VIX, which measures market volatility, stood at 14.90, up 0.86%. 

Asian Markets on Wednesday 

Asian stocks rose on Wednesday, with the MSCI Asia Pacific Index excluding Japan gaining 1.5%. South Korean stocks advanced 4.33% to 5,793.33, while S&P 500 E-mini futures rose 0.3%. 

Japan’s Nikkei gained 1.25% to 64,878.32, while Taiwan’s market rose 1.85% to 47,150.65. Singapore’s STI advanced 0.37% to 5,423.86, and Hong Kong’s market gained 0.28% to 23,933.63. 

In contrast, Australia’s ASX 200 fell 0.18% to 8,801.40, while Chinese stocks declined 0.05% to 3,733.54. Malaysian stocks slipped 0.03% to 1,599.14. 

Wall Street on Tuesday 

US markets closed higher on Tuesday, supported by positive earnings. The Dow Jones Industrial Average rose 529.85 points, or 1.02%, to 52,495.88. The S&P 500 gained 0.28% to 7,712.57, while the NYSE Composite advanced 0.93% to 24,190.62. 

The Nasdaq Composite fell 0.02% to 26,424.82, and the Nasdaq 100 declined 0.13% to 29,490.28. The small-cap Russell 2000 rose 1.65% to 2,773.42, while the VIX fell 6.13% to 17.31. 

Crude Oil Prices 

Oil prices rose on Wednesday. Brent crude gained $1.58, or 1.45%, to $110.37 a barrel, while US West Texas Intermediate (WTI) crude advanced $1.35, or 1.38%, to $99.18 a barrel, according to OilPrice.com data delayed by 12 minutes. 

The Strait of Hormuz remains a major concern for global oil supplies. Iran has linked the reopening of the strait to a list of demands it has put forward. Meanwhile, the Nifty Oil & Gas index rose 0.93%. 

High crude oil prices could put pressure on inflation in India, which relies heavily on oil imports. 

Middle East War 

Iran informed Pakistan’s army chief on Tuesday that it would not hold talks with the US until its demands were met, according to Iranian media reports. President Masoud Pezeshkian spoke with Field Marshal Asim Munir about the mediation process. 

Iranian Parliament Speaker Mohammad Baqer Qalibaf said the US must meet seven demands before Iran would reopen the Strait of Hormuz. These include lifting the blockade of Iranian ports and removing oil sanctions. 

Security adviser Mohsen Rezaei said all enriched uranium would remain in Iran. US Vice President JD Vance, meanwhile, has stated that Iran needs to reduce its enriched uranium stockpile. 

Following the truce brokered by Pakistan in June, the situation has deteriorated, and the war is now in its eighth month. Western countries have accused Iran of seeking to acquire nuclear weapons, an allegation Tehran has denied. 

Previous Close of Indian Markets 

Indian markets closed lower on Monday, October 19, with the Sensex falling 876.37 points, or 1.17%, to 73,852.90. The Nifty declined 257.20 points, or 1.11%, to 22,888.95. The fall ended the markets’ two-day winning streak. Markets remained closed on Tuesday for Dussehra. 

Private bank and IT stocks led Monday’s decline as investors booked profits following the previous week’s gains. Quarterly results from some major private banks, combined with elevated crude oil prices, added to the negative sentiment. 

The weekly expiry also kept volatility at its highest level in a week. The Nifty Private Bank index fell nearly 1.9%, while Axis Bank Ltd (AXISBANK) declined 4.2% after its September-quarter results marginally missed expectations. 

Market breadth remained negative, with 2,925 stocks declining, 1,163 advancing and 181 remaining unchanged. The Nifty Midcap index fell nearly 1.1%, while small-cap stocks declined 1%. 

Sources

• BSE
• NSE