Closing Bell: Nifty at 25,850, Sensex up 411 pts; IT, oil & gas, financials rally

Market Close | Sensex gains 411 points, Nifty around 25,850

The Indian equity indices ended higher with Nifty above 25,800 in the volatile session on October 20. At close, the Sensex was up 411.18 points or 0.49 percent at 84,363.37, and the Nifty was up 133.3 points or 0.52 percent at 25,843.15.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow afternoon on Muhurat day with all the latest updates and alerts . Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities

As the festive spirit of Diwali fills the air with optimism and celebration, the Indian equity markets have mirrored the mood with a strong start to the week. Investors welcomed the auspicious beginning with renewed enthusiasm, pushing benchmark indices higher and setting the tone for a potentially prosperous Samvat.

The Nifty 50 continued its upward trajectory, closing the session with a gain of 0.54%, comfortably above the 25800 mark. This marks its highest closing level since September 2024, bringing it close to its all-time high, a milestone that now seems just a stone’s throw away.

Meanwhile, the Bank Nifty stole the spotlight by registering a new all-time high for the second consecutive trading session, reflecting strong momentum in the banking space and investor confidence in financials.

Among the top gainers in the Nifty 50 pack, Cipla, Reliance Industries, and Bajaj Finserv led the rally with robust gains. On the other hand, ICICI Bank and JSW Steel were among the notable laggards, witnessing some profit-taking.

Sectorally, the market breadth remained broadly positive. Barring the Nifty Auto index, all other sectoral indices ended in the green. Nifty PSU Bank and Nifty IT emerged as the top performers, indicating strong institutional interest in public sector banks and technology stocks.

The bullish sentiment extended to the broader markets as well. Both the Nifty Midcap 100 and Nifty Smallcap 100 indices closed in positive territory, suggesting widespread participation across market segments. The Advance/Decline ratio was firmly in favour of the bulls. Out of the Nifty 500 universe, 282 stocks ended the day with gains, underscoring the strength and breadth of the rally.

Nifty View

As the festive week of Diwali unfolds, the Indian equity markets continue to sparkle with optimism. The benchmark index Nifty 50 has ended on a positive note for the fourth consecutive trading session, reflecting sustained buying interest and strong investor sentiment.

Currently, the index is trading above its key moving averages, which reinforces the underlying bullish trend. Additionally, momentum indicators are signalling strength, suggesting that the rally may have more legs in the short term.

Going ahead, the support zone of 25750–25700 will be crucial for the index. As long as Nifty holds above the 25700 level, it is likely to maintain its upward trajectory. On the upside, the index is poised to test the psychological milestone of 26000, with a potential extension towards 26200 in the near term.

The festive tailwinds, coupled with technical strength, are setting the stage for a vibrant market performance as investors look forward to a prosperous Samvat.

Bank Nifty View

In sync with the festive optimism surrounding Diwali, the Bank Nifty index has maintained its bullish tone, riding on strong sectoral momentum and investor confidence. The index is currently trading at all-time high level, which suggest strong momentum.

Technically, the support zone of 57700–57600 will be crucial in the near term. As long as the index sustains above the 57600 mark, the upward momentum is expected to continue. On the upside, Bank Nifty is likely to test the 58500 level, with a potential extension towards 58900 in the short term.

With financials leading the charge and festive sentiment adding fuel to the rally, Bank Nifty remains one of the key drivers of market strength this Diwali week.

In the Samvat 2081, BSE Sensex and Nifty jumped more than 6 percent each....Read More

Rupak De, Senior Technical Analyst at LKP Securities

The market started with a gap-up and remained volatile throughout the day. On the higher end, Nifty touched a high of 25,926 before closing around 25,850. Though there was some profit-taking at higher levels, the overall sentiment is likely to remain strong, with the potential to reach 26,000–26,200 in the short term.

The technical setup remains positive as long as the index stays above 25,700, below which it may move back into consolidation.

Ajit Mishra – SVP, Research, Religare Broking

Markets began the week on an upbeat note and extended their upward momentum, largely supported by favorable domestic cues. The Nifty index opened firm with a gap-up and moved higher initially, followed by a range-bound phase till the end. It eventually settled at 25,843.15, up 0.52%. On the sectoral front, a mixed trend kept participants engaged, with IT, pharma, and banking leading the gains, while metal and auto traded on a muted note. The broader markets also displayed resilience, as both the midcap and smallcap indices advanced in the range of 0.4%–0.7%.

The market’s strength was underpinned by upbeat quarterly results from heavyweights such as Reliance, HDFC Bank, and ICICI Bank, along with expectations of sustained foreign inflows amid improving global risk sentiment. Additionally, the recent moderation in U.S. Treasury yields and a softer dollar further lifted investor confidence.

The continued buoyancy in the banking pack, coupled with rotational buying across other sectors, is driving the index higher with each passing session. As the Nifty approaches the 26,000 mark, some consolidation cannot be ruled out before a fresh breakout; however, the overall bias remains positive, with immediate support around 25,650 and major support near 25,450. We recommend maintaining a “buy on dips” approach, focusing on large-cap and quality midcap stocks that are showing consistent relative strength.

Vinod Nair, Head of Research, Geojit Investments

The Indian market extended its positive momentum, driven by better-than-expected Q2 results from major companies and festival optimism. Positive global cues further bolstered investor sentiment, with easing trade narratives between the US-China and rise in European market led by defense stocks.

Additionally, improved FII inflows in the cash market turned the domestic market into a net buyer in October, following three consecutive months of selling.

PSU banks and mid-sized financial services led the charge, benefiting from potential acquisitions and improvement in margins & asset quality as per Q2 results. The oil industry also experienced notable gains, thanks to declining crude prices and a strengthening Indian rupee.

Investors, especially high-net-worth individuals, are recalibrating allocations, balancing the allure of precious metals with equities and other asset classes. ...Read More

Currency Check | Rupee closes higher 87.93

Indian rupee ended higher at 87.93 per dollar on Monday versus Friday's close of 87.97.

Market Close | Nifty above 25,800, Sensex up 411 pts; IT, oil & gas, financials rally

The Indian equity indices ended higher with Nifty above 25,800 in the volatile session on October 20.

At close, the Sensex was up 411.18 points or 0.49 percent at 84,363.37, and the Nifty was up 133.3 points or 0.52 percent at 25,843.15. About 2217 shares advanced, 1648 shares declined, and 170 shares unchanged.

Reliance Industries, Shriram Finance, Bajaj Finserv, Cipla, Dr Reddy's Labs were among major gainers on the Nifty, while losers were ICICI Bank, Eternal, Adani Ports, JSW Steel, M&M.

BSE Midcap index added 0.7%, and smallcap index rose 0.6%.

On the sectoral front, PSU bank index up 3%, oil & gas, telecom up 1% each, while pharma, realty, metal, IT up 0.5% each.

Sensex Today | BSE Smallcap index up 0.5%; Ceat, DCB Bank, Zee Media, among major gainers

Sensex Today | MOSL keeps 'buy' rating on RIL, target price Rs 1,700

#1 Q2 in line, strong FCF in H1

#2 Retail: broad-based growth, QoQ up 42 percent, Jio in-line

#3 Net debt down as H1 FCF hits Rs 6,300 crore

#4 Standalone: higher volumes, better cracks

Reliance Industries was quoting at Rs 1,467.00, up Rs 50.05, or 3.53 percent.

Sensex Today | Morgan Stanley keeps 'overweight' on Polycab India, target price at Rs 8,428

#1 Adjusted PAT beat estimates by 11 percent

#2 C&W EBIT margin at 15.5 percent vs estimate of 13.6 percent

#3 Margin expansion due to favourable product mix & scale benefits

#4 C&W revenue grew 19 percent YoY vs estimate of 25 percent

#5 Domestic growth 19 percent, exports up 25 percent YoY

Indian equities may open Samvat 2082 on a positive note during the Muhurat trading session on October 21...Read More

Sensex Today | Macquarie keeps 'outperform' rating on RIL, target price at Rs 1,650

#1 Q2 momentum strong

#2 Retail strong, Jio steady, O2C improved

#3 Turnaround across segments (Retail, Jio, O2C, Jiostar)

#4 Earnings growth support for FY25–28

Currency Check | Rupee trades higher

Indian rupee is trading higher at 87.91 per dollar versus Friday's close of 87.97.

Sensex Today | Morgan Stanley keeps 'overweight' rating on Can Fin Homes, target price at Rs 970

#1 PAT beat by 13 percent

#2 NIM expanded 36 bps QoQ due to lower borrowing costs

#3 RoE at 18.8 percent in Q2

#4 Sustainable growth outlook at reasonable valuations

Stock Markets LIVE Updates | BSE Sensex sheds 400 points from days high

Sensex Today | Zydus Wellness share price gains most in 7 weeks

Zydus Wellness was quoting at Rs 486.70, up Rs 26.15, or 5.68 percent.

It has touched an intraday high of Rs 494.65 and an intraday low of Rs 460.65.

It was trading with volumes of 23,262 shares, compared to its five day average of 14,096 shares, an increase of 65.02 percent.

In the previous trading session, the share closed down 2.06 percent or Rs 9.70 at Rs 460.55.

The share touched a 52-week high of Rs 530.55 and a 52-week low of Rs 298.60 on 19 September, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 8.27 percent below its 52-week high and 62.99 percent above its 52-week low.

Market capitalisation stands at Rs 15,484.88 crore.

Midwest IPO shares will be listed on both NSE and BSE on October 24, following a subscription of 87.89 times to its Rs 451-crore issue. ...Read More

Sensex Today | Ceat share price extend gains on strong earnings

The tyre maker's Q2 net profit rose 52.6%, revenue increased 12.2% backed by increasing vehicle sales post GST cut.

Emkay said CEAT is poised to benefit from the demand upturn backed by strong consumer-facing segment exposure.

Investec said CEAT continues to remain the preferred play in the tyres space and with tariff clarity in place, CAMSO business growth prospects should improve once the integration is complete.

Sensex Today | Nuvama keeps 'reduce' rating on IndusInd Bank, target price at Rs 600

#1 Reported Rs 450 crore loss in Q2 versus Rs 680 crore PAT QoQ

#2 MFI write-offs + weak loan growth hurt performance

#3 NIM down 14 bps to 3.3 percent

#4 RoA unlikely to hit 1 percent by FY27

#5 Consolidation to continue near-term

#6 Awaiting clarity from new CEO

The five largest IPOs of the year -- Tata Capital (Rs 15,511.9 crore), HDB Financial Services (Rs 12,500 crore), LG Electronics India (Rs 11,604.7 crore), Hexaware Technologies (Rs 8,750 crore), and Ather Energy (Rs 2,980.8 crore) -- together accounted for 42% of total proceeds and absorbed nearly 44% of mutual fund investments. ...Read More

Sensex Today| Bharat Road Network: Court revokes suspension on toll plaza fee

Sensex Today| AU Small Finance Bank Jumps 10% After Citi, Nomura, Jefferies, and Morgan Stanley Upgrades with Higher Target Prices

Bharat Rasayan Board to consider stock spilt & bonus issue on October 24

PE majors including Blackstone said to in the fray, US co says not in deal...Read More

Sensex Today| JSW Paints Gets CCI Nod For Akzo Nobel India Acquisition

Launches Open Offer To Acquire 26% Stake In Akzo Nobel India At `3,232/Sh

While Sobha Developers' net profit rose 180% in September quarter, CEAT posted 53% jump in PAT in Q2...Read More

Markets@2 | Sensex gains 450 pts, Nifty at 25850

Sensex Today | DCB Bank Q2 profit rises 18%, NII rises 17%

#1 Profit increases 18.3 percent to Rs 183.9 crore Vs Rs 155.5 crore, YoY

#2 Net interest income rises 17.1 percent to Rs 596.2 crore Vs Rs 509.2 crore, YoY

#3 Provisions and contingencies grow 32.7 percent to Rs 60.5 crore Vs Rs 45.6 crore, YoY

#4 Gross NPA falls to 2.91 percent Vs 2.98 percent, QoQ

#5 Net NPA declines to 1.21 percent Vs 1.22 percent, QoQ

Sensex Today | DAM Capital keeps 'buy' rating on RIL, target price at Rs 1,515

#1 Focus on new energy, media, FMCG

#2 40 percent of Rs 75,000 crore new energy capex done

#3 Jio distribution powers media entry

#4 Retail recovery underway

#5 Mid-teens growth likely

#6 O2C funds capex

#7 PAT growth estimate 5.1 percent CAGR FY25–28

Sensex Today | BSE Midcap index up nearly 1%; AU Small Finance Bank, Federal Bank, IDFC First Bank, among top contributors

Sensex Today | Alembic Pharma gest USFDA approval for Triamcinolone Acetonide Injectable Suspension USP

Alembic Pharmaceuticals has received final approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Triamcinolone Acetonide Injectable Suspension USP. The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Kenalog-40 Injectable Suspension of Bristol-Myers Squibb Company.

This medication is indicated for various autoimmune, inflammatory, and other conditions where oral therapy is not feasible.

Sensex Today | RPP Infra Projects gets LoA of Rs 125.92 crore

The company has received a Letter of Acceptance for a new work order involving civil works for the construction of an office-cum-training building and residential accommodation for officers and staff of the National Academy of Defence Financial Management (NADFM) in Pune. The contract value is Rs 125.92 crore.

Sensex Today | Tanla Platforms Q2 profit slips 3%, revenue up 7%

#1 Net profit down 3.8% at Rs 125 crore versus Rs 130 crore, YoY

#2 revenue up 7.8% at Rs 1,078 crore versus Rs 1,000 crore, YoY

#3 EBITDA up 1.9% at Rs 178.3 crore versus Rs 175 crore, YoY

#4 Margin at 16.5% versus 17.5%, YoY

Navjeet Sobti, Almondz Global

While the near-to-medium term trend for domestic equity markets could be volatile, given global economic uncertainty, geo-political tensions and the pending outcome of the US-India tariff settlement, we expect select PSU counters to maintain optimism through Samvat 2082. With interest rates expected to come down further going ahead and the government's focus on boosting consumption post GST rate cut coupled with income-tax benefits to salaried class, we expect PSU banking stocks to stay in limelight on hopes of strong demand for loans.

We also expect select PSU counters in the power sector to attract strong buying going ahead amid the government's move to accelerate spending on transmission, renewable energy, etc. While FII flows in domestic equities have been extremely volatile over the past few months, any positive outcome to the US-India trade deal and likely uptick in corporate earnings should revive overseas investors' interest in local equities.

Sensex Today | UTI AMC Q2 profit down 53%, revenue down 22%

#1 Net profit down 53% at Rs 113 crore versus Rs 239 crore, YoY

#2 Revenue down 22.3% at Rs 418.6 crore versus Rs 538.4 crore, YoY

Sensex Today | Thermax approves additional equity investment in Thermax Chemical Solutions

The board of directors has approved the Scheme of Merger by absorption of Buildtech Products with Thermax and their respective shareholders.

Approved additional equity investment of Rs 40 crores in share capital of Thermax Chemical Solutions (TCSPL), a wholly-owned subsidiary of the company for further investment in Fortmax Chemicals India, a subsidiary of TCSPL.

And approved support by way of equity / loan of up to Rs 42 crore to Enernxt, a wholly-owned step-down subsidiary of the Company through Thermax

Onsite Energy Solutions Limited, a wholly owned subsidiary of the company.

Q2 Results impact: UTI Asset Management Company shares plunged around 10% to hit a more than three-month low of Rs 1,263.30 apiece. Tejas Networks shares dropped nearly 9% to a fresh 52-week low of Rs 539 apiece. ...Read More

Sensex Today | Kotak Institutional Equities maintains 'add' rating on RIL, target price at Rs 1,600

#1 Q2 EBITDA up 18 percent YoY, beat estimates

#2 Retail EBITDA up 16 percent YoY, beat estimates

#3 O2C, digital in-line, E&P down

#4 Capex at Rs 40,000 crore, net debt flat

#5 Positive on retail, telecom, O2C headwinds

Sensex Today | BSE Healthcare index rises on fourth consecutive session

Sensex Today | Morgan Stanley keeps 'equal-weight' rating on IndusInd Bank, target price at Rs 785

#1 Slippages high at 2.8 percent, credit cost rose to 318 bps

#2 Core PPoP 7 percent below estimates

#3 PCR improved to 72 percent

#4 EPS cut by 59 percent for FY26, 8-9 percent for FY27–28

#5 Maintain equal-weight on valuation

On October 22, trading will be closed during the morning session and resume in the evening session on the MCX. ...Read More

Sensex Today | ICICI Bank Q2 standalone NII rises 7%, profit jumps 5%

#1 Profit rises 5.2 percent to Rs 12,358.9 crore Vs Rs 11,745.9 crore, YoY

#2 Net interest income grows 7.4 percent to Rs 21,529.5 crore Vs Rs 20,048 crore, YoY

#3 Provisions & contingencies plunge 26 percent to Rs 914.11 crore Vs Rs 1,233.1 crore, YoY

#4 Gross NPA drops to 1.58 percent Vs 1.67 percent, QoQ

#5 Net NPA slips to 0.39 percent Vs 0.41 percent, QoQ

Markets@1 | Nifty around 25900, Sensex up 555 points

The Sensex was up 555.49 points or 0.66 percent at 84,507.68, and the Nifty was up 176.25 points or 0.69 percent at 25,886.10. About 2020 shares advanced, 1736 shares declined, and 152 shares unchanged.

Sensex Today | Reliance Industries Q2 consolidated profit rises 14%

#1 Profit grows 14.3 percent to Rs 22,092 crore Vs Rs 19,323 crore, YoY

#2 Gross revenue increases 9.9 percent to Rs 2.83 lakh crore Vs Rs 2.58 lakh crore, YoY

#3 EBITDA jumps 14.6 percent to Rs 50,367 crore Vs Rs 43,934 crore, YoY

#4 EBITDA margin expands 80 bps to 17.8 percent Vs 17 percent, YoY

Sensex Today | Nifty Realty index rises 0.5%; Godrej Properties, Anant Raj, Prestige Estate, among top contributors

Bank Nifty: AU Small Finance Bank shares were the top gainer on the index, rallying 8% after the announcement of its Q2 results....Read More

Sensex Today | Bharat Rasayan to consider bonus, sub-division of equity shares on Oct 24

A meeting of the board of directors of Bharat Rasayan is scheduled to be held on Friday, October 24, 2025, to consider the proposal of sub-division of equity shares and proposal for issuance of bonus issue of equity shares of the company.

Bharat Rasayan was quoting at Rs 10,077.40, up Rs 244.20, or 2.48 percent.

It has touched an intraday high of Rs 10,990.00 and an intraday low of Rs 9,855.00.

It was trading with volumes of 3,332 shares, compared to its five day average of 144 shares, an increase of 2,217.11 percent.

In the previous trading session, the share closed up 3.78 percent or Rs 358.05 at Rs 9,833.20.

The share touched a 52-week high of Rs 12,550.00 and a 52-week low of Rs 8,807.45 on 07 November, 2024 and 29 May, 2025, respectively.

Currently, the stock is trading 19.7 percent below its 52-week high and 14.42 percent above its 52-week low.

Market capitalisation stands at Rs 4,187.43 crore.

RBL Bank to sell majority stake to Emirates NBD in Rs 26,850 crore deal, largest FDI in Indian banking sector

RBL Bank announced that Emirates NBD Bank will acquire a majority stake in the bank through a primary infusion of around $ 3 billion (approximately Rs 26,850 crore) , the largest-ever foreign direct investment and equity raise in the Indian banking sector.