Indian equity markets began Friday’s session on a strong note, lifted by gains in major heavyweights and upbeat second-quarter results. The Nifty opened above 25,800 and extended its rally beyond 25,900 as buying momentum intensified in sectors like energy, banking, and financial services. The festive cheer and improving investor sentiment fueled optimism as markets headed into the Diwali weekend.
By the closing bell, the Sensex surged 411.18 points, or 0.49%, to finish at 84,363.37, while the Nifty rose 133.3 points, or 0.52%, to end at 25,843.15. Broader indices also joined the rally, with the BSE Midcap gaining 0.7% and the Smallcap index rising 0.6%, signaling a healthy participation across segments.
A key highlight of the session was the strong performance of the banking index. The Nifty Bank crossed 58,000 for the first time, scaling a new all-time high of 58,261.55 before settling above the psychological mark despite some late profit booking. This performance reflects renewed investor faith in India’s financial sector, supported by consistent earnings growth, better credit demand, and improved asset quality.
Market giants like Reliance Industries, along with leading banks, played a pivotal role in driving the day’s gains. The upbeat corporate results from major financial institutions bolstered confidence that the sector will remain a backbone of India’s growth story in the upcoming year.
As part of the Diwali tradition, the stock exchanges announced that regular trading will remain closed on October 21 and 22, but the NSE will hold its annual “Muhurat Trading” session on October 21 between 1:45 PM and 2:45 PM. This symbolic session, marking the beginning of Samvat 2082, is considered auspicious by traders and investors alike, representing the start of a new financial year in the Hindu calendar.
Experts are optimistic as India transitions into Samvat 2082. Amisha Vora, Chairperson and Managing Director of PL Capital, highlighted that after a challenging year, “the stage now appears set for an earnings-led recovery.” She emphasized that the growth momentum remains strong, supported by structural reforms, the rollout of GST 2.0, income tax relief measures, and an accommodative monetary policy that is helping ease liquidity conditions.
India’s GDP is projected to grow around 6.8% in FY26, one of the fastest rates globally. This resilience underscores India’s strength as an emerging leader in global economic recovery. With valuations stabilizing, earnings downgrades bottoming out, and domestic inflows staying robust, the outlook for Indian equities appears promising as investors gear up for the new Samvat year.
