Market Close Report Today, October 30, 2026: Nifty, Sensex Rise For Second Straight Session

Mumbai, October 30: Indian equity benchmarks extended their gains for a second consecutive session on Friday, with the Nifty 50 reclaiming the 23,000 mark as buying in information technology and pharmaceutical stocks helped offset weakness across broader markets. The BSE Sensex advanced 308.49 points, or 0.42%, to close at 74,459.53, while the NSE Nifty 50 gained 116.35 points, or 0.51%, to settle at 23,053.10. 

The benchmarks recovered from a muted start, with a rally in IT stocks and strong post-results gains in select heavyweight constituents lending support. However, the recovery remained concentrated in frontline stocks, with midcaps and smallcaps underperforming. The Nifty Midcap index declined 0.8%, while the Nifty Smallcap index fell 1.8%. Market breadth was distinctly negative, with 1,311 shares advancing against 2,862 declining and 170 remaining unchanged. 

Why Did The Stock Market Rise Today? 

The domestic market drew support from buying in technology stocks, alongside earnings-led gains in select companies such as Trent and InterGlobe Aviation. The IT sector’s resilience was particularly notable given the weakness in global technology shares, where concerns over the scale of artificial intelligence investments and their potential returns had triggered a selloff. 

Indian equities recovered from a subdued opening as a jump in IT stocks and post-results gains in key constituents offset pressure from elevated crude oil prices. The Nifty and Sensex had edged higher in early trade despite weakness across Asian markets, including sharp declines in South Korea and Japan. 

Analysts said resilient corporate earnings and stable domestic demand were helping support sentiment, although elevated Brent crude prices and persistent geopolitical uncertainty remained significant risks. 

Sectoral Indices Today 

Information technology and pharmaceutical stocks led the sectoral recovery, with the Nifty IT index climbing 2.3% and the Nifty Pharma index gaining 1.8%. Buying in heavyweight technology stocks helped the benchmarks withstand weakness across several other sectors. 

On the losing side, consumer durables, PSU Bank, energy and media indices declined more than 1% each. Auto, Nifty Bank, FMCG, metal and realty indices also ended around 0.5% lower, reflecting the lack of broad-based buying participation. 

Top Gainers And Losers 

Trent led the Nifty 50 gainers, followed by InterGlobe Aviation, Infosys and Apollo Hospitals. Trent shares attracted buying interest after the retailer reported a 23% year-on-year increase in September-quarter profit, supported by strong apparel sales and continued store expansion. InterGlobe Aviation also advanced after reporting a narrower quarterly loss. 

On the other hand, Adani Ports, Shriram Finance, Adani Enterprises, Mahindra & Mahindra and Coal India featured among the biggest Nifty laggards. Coal India shares remained under pressure after the state-run miner missed September-quarter profit expectations as higher costs offset robust demand. 

In the broader market, Suzlon Energy plunged 7.9% after its September-quarter operating margins disappointed investors, prompting brokerages to lower their price targets. Sagility declined 5% amid reports of a promoter stake sale through a block deal, while PC Jeweller shed 3%, extending its recent correction. Vedanta Power bucked the broader weakness, surging 14.7% after reporting a sharp turnaround in quarterly earnings. 

Crude Oil Prices, FII And DII Activity 

Crude oil remained a significant concern for domestic investors, with Brent futures climbing 1% to $116.1 a barrel and US West Texas Intermediate (WTI) rising 1.3% to $103.3. Fresh attacks by Yemen’s Iran-aligned Houthi group on Saudi Arabian energy infrastructure heightened concerns over potential supply disruptions, keeping inflationary pressures and India’s oil import bill in focus. 

Foreign portfolio investors turned net sellers on Thursday, offloading equities worth Rs 944 crore after two consecutive sessions of buying. Domestic institutional investors, meanwhile, purchased shares worth Rs 1,924 crore, providing some support to the market. 

Market Outlook 

Friday’s advance helped extend the recovery in frontline indices, with the Nifty moving back above the psychologically important 23,000 mark. The Nifty and Sensex snapped a two-month losing streak in October, supported by resilient corporate earnings and expectations of a possible review of long-term capital gains taxation. 

However, the sharp underperformance of midcap and smallcap stocks and negative market breadth indicate that investor participation remains selective. Going forward, the sustainability of the recovery will depend on corporate earnings, institutional flows and movements in crude oil prices. With Brent above $116 a barrel and geopolitical tensions threatening energy supplies, investors are likely to remain cautious despite the improvement in benchmark indices. 

Source

•  NSE
• BSE