Did Sensex and Nifty Rise on Global Optimism and Dropping Crude Prices?

Synopsis
Key Takeaways
- Sensex rose by 575.45 points
- Nifty increased by 178.05 points
- Positive global cues boosted sentiment
- Realty sector saw a notable 3.04% increase
- Strong domestic participation supported market growth
Mumbai, Oct 15 (NationPress) The Indian stock markets experienced an upward trend on Wednesday, buoyed by positive global signals and a decline in crude oil prices.
Investments in real estate, PSU banks, and metal stocks further enhanced investor sentiment.
At the end of trading, the Sensex climbed by 575.45 points, or 0.70%, to close at 82,605.43. Meanwhile, the Nifty also saw an increase of 178.05 points, or 0.71%, finishing at 25,323.55.
“The Nifty kicked off strongly and maintained a consistent higher-high, higher-low pattern throughout the session, indicating sustained bullish momentum,” analysts noted.
“Following an initial surge, the Nifty entered a narrow consolidation between 25,280–25,330, oscillating within the 25,300–25,400 range for the third consecutive session,” they added.
“This behavior suggests a short-term distribution phase, with ongoing selling pressure near the 25,400 resistance level. A decisive breakout above this mark could pave the way for a rally towards 25,600–26,000, fueled by positive Q2 earnings momentum,” experts elaborated.
The broader market outperformed the benchmarks, with the Nifty MidCap 100 index rising 1.11% and the Nifty SmallCap 100 index increasing 0.82%.
Sector-wise, all sectoral indices, except for Nifty Media, ended positively.
The Nifty Realty index led the surge with a robust 3.04% gain, followed by the Nifty PSU Bank, Metal, and Financial Services indices, all rising by over 1%.
In the Sensex pack, top gainers included Bajaj Finance, Bajaj Finserv, Trent, Asian Paints, Adani Ports, and Tata Steel.
Conversely, Infosys, Tata Motors, Tech Mahindra, and Axis Bank ended lower, capping some of the market gains.
Analysts indicated that falling crude prices and stable global markets enhanced investor confidence, while robust domestic participation supported the upward trend.
They also pointed out that the US 10-year yield decreased, and the rupee strengthened, signaling a shift in Foreign Institutional Investors (FIIs) towards emerging markets such as India, likely influencing the domestic market's trajectory in the short to medium term.
“The real estate sector outperformed due to easing interest rates and attractive valuations, while favorable global cues bolstered the IT and Metal indices,” market experts concluded.