Sensex, Nifty climb 1% as financials and energy stocks lead; all sectoral indices in green

The Indian banal marketplace surged connected October 28, with some the Sensex and Nifty signaling gains of astir 1 per cent by midday, led by beardown buying successful fiscal and lipid & state stocks. An uptick successful ICICI Bank shares pursuing its Q2FY25 results and a calming of Middle East tensions helped bolster aboriginal marketplace sentiment. At 11:22 AM, the Sensex climbed 793 points, oregon 1 per cent, to 80,196, portion the Nifty roseate 217 points, oregon 0.9 per cent, to 24,398. Overall marketplace breadth was positive, with 2,288 shares advancing, 1,083 declining, and 131 remaining unchanged.

Broader Market Performance

Broader indices mirrored the rally, with the BSE Midcap scale rising by 0.7 per cent and the BSE Smallcap scale up 1.3 per cent. All thirteen sectoral indices were successful greenish territory, led by Nifty Auto, Realty, Media, Metal, and PSU Bank, which each roseate betwixt 1 and 3 per cent. The Nifty Metal and Auto indices bounced backmost aft extended losing streaks, showing maturation of 2.5 per cent and 1 per cent, respectively, driven by stocks similar Vedanta and Hindalco.

Key Market Drivers

- Q2 Earnings Impact: ICICI Bank’s robust Q2FY25 show spurred gains crossed fiscal stocks, portion different ongoing quarterly net besides influenced capitalist sentiment.
- Easing Global Tensions: Reduced tensions successful the Middle East person contributed to little crude prices, a affirmative motion for vigor stocks and broader marketplace sentiment.
- Technical Momentum: Analysts bespeak a beardown absorption scope for the Nifty astir 24,413 to 24,462, with enactment astatine 24,073. A breach beneath this enactment could gully attraction to the 23,779 level, though existent sentiment suggests stability.

Outlook and cardinal events ahead

Looking forward, investors are expected to support a adjacent ticker connected respective cardinal events and factors, including the Q2FY25 net season, geopolitical developments successful the Middle East, crude lipid prices, trends successful overseas organization capitalist (FII) flows, and the upcoming US statesmanlike election. As the week progresses, the expiry of monthly derivatives could besides lend to volatility, perchance impacting near-term marketplace dynamics.

With some midcap and smallcap stocks showing renewed traction, determination is optimism for further recovery, though marketplace watchers suggest caution arsenic planetary events and capitalist sentiment whitethorn power the grade of gains.