Indian Stock Market Rebounds as Sensex Jumps 905 Points, Nifty Climbs 238 Points

Mumbai, Oct 29: Indian stock markets witnessed a strong recovery on Thursday as renewed buying in realty, FMCG and public sector banking stocks lifted investor sentiment. The Sensex surged more than 900 points, while the Nifty moved closer to the 23,000 mark, offering relief after recent market weakness.

The BSE Sensex jumped 905.01 points, or 1.24 per cent, to close at 74,151.04. The NSE Nifty 50 advanced 237.90 points, or 1.05 per cent, to settle at 22,936.75.

Realty, FMCG and Banking Stocks Lead the Rally

Realty stocks emerged among the leading gainers during the session, with the sectoral index rising 2.75 per cent. FMCG stocks also attracted strong buying interest, pushing the sectoral index up 2.34 per cent. The public sector banking index gained 2.20 per cent as investors increased their exposure to select banking shares.

The broader market also participated in the recovery, with mid-cap and small-cap indices gaining nearly 1 per cent each. However, the auto sector remained under pressure, ending the session slightly lower.

The gains reflected improved buying interest across several parts of the market, although investors continued to assess corporate earnings and global economic developments.

Global Developments Keep Investors Cautious

Global cues remained an important factor for domestic equities. Investors continued to evaluate the outlook for US interest rates, movements in crude oil prices and geopolitical developments.

Elevated oil prices remain a concern for India because the country depends heavily on imported crude. A sustained rise in energy costs can increase pressure on inflation, corporate expenses and the country’s import bill.

Currency movements and foreign investor activity are also expected to influence market direction in the coming sessions.

Nifty Faces Resistance Near 23,000

The Nifty’s close at 22,936.75 brought the index closer to the important 23,000 level. A sustained move above this mark could strengthen short-term market sentiment, while the 22,800 zone remains an important support area to watch.

Despite Thursday’s gains, investors may remain cautious as global uncertainties and changing expectations around interest rates continue to influence trading.

The latest rally provided a boost to the domestic market, with buying across key sectors helping benchmark indices recover. The next direction will depend on whether investors sustain their buying interest and push the Nifty decisively above 23,000.