Sectoral Snapshot Today, October 29, 2026: FMCG, Financials, IT Rally; Auto Shares Buck Trend

Mumbai, October 29: Indian sectoral indices ended largely higher on Thursday, led by buying in fast-moving consumer goods (FMCG), financial services, information technology and power stocks, as benchmark indices staged a sharp rebound. The US Federal Reserve’s decision to hold interest rates steady and upbeat corporate earnings supported sentiment, while a modest easing in crude oil prices offered some relief amid persistent geopolitical concerns. 

The Nifty 50 gained 237.90 points, or 1.05%, to close at 22,936.75, while the Sensex advanced 905.01 points, or 1.24%, to settle at 74,151.04. The recovery extended across the broader market, with the Nifty Midcap and Smallcap indices rising around 1% each. 

FMCG Stocks Gain; Hindustan Unilever, ITC in Focus 

FMCG stocks advanced as investors bought defensive consumer-oriented shares amid signs of a broader market recovery. Hindustan Unilever gained 2.3% after higher quarterly profit, while the sector was among the stronger performers during the session, rising 2.3%. ITC also featured among the stocks attracting buying interest, rising 2.12%. 

The gains came as investors assessed quarterly earnings for indications of demand trends, margins and the ability of consumer companies to navigate cost pressures. The broader rally helped lift sentiment across sectors, although elevated energy prices remain a risk for companies facing higher packaging, logistics and input costs. 

Financial Stocks Rally; Kotak Mahindra Bank Leads Gains 

Financial stocks advanced, with the Nifty financial services segment among the key contributors to the market’s rebound. Kotak Mahindra Bank featured among the biggest Nifty 50 gainers, rising 4.3%. This comes a day after the Delhi High Court ordered social media to take down hundreds of fake accounts impersonating Kotak Mahindra Bank and Kotak Securities and provide information that could help trace those behind them. 

Both PSU and private sector bank indices rose, with the former jumping 2.2% as SBI jumped 1.6%. 

The financial shares helped support the benchmark indices after recent selling pressure. Investors continued to monitor quarterly results and the potential impact of elevated crude prices, currency movements and global interest-rate uncertainty on India’s economic outlook and credit demand. 

IT Stocks Rise After Fed Decision 

Information technology stocks also ended higher, with the Nifty IT index gaining 1%. The US Federal Reserve kept its benchmark interest rate unchanged at 3.75%-4%, as expected, providing some support to equities. 

However, the Fed indicated that inflation remained elevated, leaving uncertainty over the future direction of monetary policy. For Indian IT companies, investors will continue to track demand from key overseas markets, technology spending and client budgets, alongside movements in the rupee and US bond yields. Infosys rose 2%, while Wipro jumped 3%. Tech Mahindra bucked the trend declining 0.4%. 

Power Stocks Advance; Power Grid, NTPC Rise 

Power stocks gained, with Power Grid Corporation rising 3.4% and NTPC advancing 2.2%. Expectations of stronger electricity demand supported the two stocks, which were among the notable contributors to the day’s gains. 

Energy stocks also benefited from the improvement in overall market sentiment. However, crude oil remained elevated despite easing during the session, keeping investors alert to the potential impact on India’s import bill, inflation and operating costs across energy-intensive industries. 

Auto Stocks Underperform 

Auto stocks were the notable exception to the broader rally, with the Nifty Auto index ending 0.2% lower. Bajaj Auto and Maruti Suzuki featured among the key Nifty 50 laggards, declining 0.97% and 1.3%, respectively. Hero MotoCorp fell 4% after missing quarterly profit estimates due to rising costs.  

The weakness in select stocks highlighted the stock-specific nature of trading amid a busy earnings season. Investors continued to assess quarterly results and company outlooks against broader concerns over input costs, demand and global uncertainty. 

Crude Oil, Fed Policy Remain Key Market Drivers 

Brent crude slipped during Thursday’s session as investors assessed prospects for renewed diplomatic engagement between the US and Iran and continued risks to Middle Eastern energy supplies. Prices nevertheless remained above $114 a barrel, sustaining concerns about inflation and India’s external balances. 

The Fed’s decision to hold rates steady also remained in focus. Foreign portfolio investors bought Indian shares worth Rs 872 crore on Wednesday, marking a second consecutive session of net buying, according to provisional data. However, FPI outflows for October stood at $3.74 billion, keeping overseas fund flows firmly on investors’ radar. 

Going forward, sectoral performance is likely to depend on corporate earnings, crude oil movements, foreign investment flows and expectations for global monetary policy. Thursday’s broad-based advance offered relief after recent losses, but persistently high oil prices and geopolitical risks could continue to constrain the sustainability of the recovery. 

Source

• NSE