Taking Stock: Nifty ends above 17,800 in volatile trade; oil & gas stocks rally

On a volatile day of trade, the Indian market started flat but gained momentum later to close nearly a percent higher on October 5 on buying in power and oil & gas stocks.

At close, the Sensex was up 445.56 points, or 0.75 percent, at 59,744.88, and the Nifty was up 131 points, or 0.74 percent, at 17,822.30.

Indian shares opened weak as investors turned cautious due to a weak closing in the US market and rising crude oil price but upbeat European markets lifted domestic equities, said Vinod Nair, Head of Research at Geojit Financial Services.

"Also, the rout of Chinese economy led by power shortage provided a positive surprise to a few sectors in the Indian market," Nair added.

ONGC, IndusInd Bank, Coal India, IOC and Bharti Airtel were among the major gainers on the Nifty. Cipla, Hindalco, Shree Cements, Sun Pharma and Tata Consumer Products were among the big losers.

BSE midcap and smallcap indices gained 0.33 percent and 0.54 percent, respectively.

Nifty IT and energy indices rose a percent each, while metal, pharma and PSU bank indices ended in the red.

Stocks & sectors

Index	Prices	Change	Change%
Sensex	83,311.01	-148.14	-0.18%
Nifty 50	25,509.70	-87.95	-0.34%
Nifty Bank	57,554.25	-272.80	-0.47%

Nifty 50 25,509.70 -87.95 (-0.34%)

Thu, Nov 06, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Asian Paints	2,602.90	116.20	+4.67%

Biggest Loser	Prices	Change	Change%
Grasim	2,700.10	-181.90	-6.31%

Best Sector	Prices	Change	Change%
Nifty IT	35337.60	63.00	+0.18%

Worst Sector	Prices	Change	Change%
Nifty Metal	10281.90	-217.10	-2.07%

On the BSE, the realty index fell 1.6 percent, while power, oil & gas and IT indices rose 1-3 percent. Buying was also seen in auto, bank and capital goods names.

Among individual stocks, a volume spike of more than 200 percent was seen in ONGC, Vodafone Idea and HPCL.

Long buildup was seen in ONGC, Persistent Systems and Titan, while short buildup was seen in Dalmia Bharat, Oberoi Realty and Ipca Laboratories.

More than 300 stocks, including HPCL, Titan, SBI Life, Canara Bank, hit a 52-week high on the BSE.

Technical View

The Nifty formed a bullish candle on the daily scale and higher highs on the shorter timeframe, indicating that buying interest could continue.

"Now, it has to hold above 17,777 for an up move towards 17,950 and 18,000 levels, whereas support is seen at 17,650 and 17,580 zones," said Chandan Taparia, Vice President, Analyst-Derivatives, Motilal Oswal Financial Services.

Outlook for October 6

Rahul Sharma, Co-Founder, Equity99

The market made a good positive move against the weak opening indicated by SGX Nifty. The Sensex was up 445 points, while the Nifty gained 131 points.

Going further, 17,865 will act as immediate resistance, while strong resistance is at 17,950. On the downside, 17,700 will act as crucial support followed by 17,650.

Palak Kothari, Research Associate, Choice Broking

On the technical front, the Nifty formed bullish Marubozu candle on the daily time frame, pointing to strength in the counter.

The index closed above 21 & 50 hull moving averages (HMA), which suggest a northward direction in the counter.

Hourly momentum indicator MACD is trading with a positive crossover above the zero-level line and the index is trading above Ichimoku cloud, which indicates upside momentum in the upcoming session.

The Nifty has immediate support at 17,580, while resistance is at 17,950.

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