The Indian stock market witnessed healthy across-segment buying on Wednesday, October 15, amid positive global cues. The Sensex jumped 575 points, or 0.70 per cent, to end at 82,605.43, while the Nifty 50 settled at 25,323.55, up 178 points, or 0.731per cent. The BSE Midcap and Smallcap indices outperformed, rising 1.07 per cent and 0.78 per cent, respectively.
The overall market capitalisation of BSE-listed firms rose to nearly ₹464 lakh crore from about ₹460 lakh crore in the previous session, making investors richer by ₹4 lakh crore in a single session.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market rise today?
Positive global cues influenced domestic market sentiment amid expectations of the US Fed rate cuts. In Europe, CAC 40 jumped over 2 per cent, while in Asia, Kospi jumped more than 2 per cent, and Nikkei and Hang Seng jumped almost 2 per cent.
US Federal Reserve Chair Jerome Powell said on Tuesday that while the economy appears to be in good shape, the job market looks weak, providing subtle hints that the central bank may continue cutting rates in October and perhaps in December as well.
The US Federal Open Market Committee (FOMC) will meet on October 28-29 and December 9-10 this year. The market is discounting a 25-basis-point Fed rate cut in both October and December.
2. Top gainers in the Nifty 50 index today
As many as 38 stocks ended higher in the Nifty 50 index, among which Bajaj Finance (up 4.07 per cent), Nestle India (up 3.98 per cent), and Bajaj Finserv (up 3.14 per cent) ended as the top gainers.
3. Top losers in the Nifty 50 index
Shares of Infosys (down 1.04 per cent), Bajaj Auto (down 0.96 per cent), and Tata Motors (down 0.90 per cent) ended as the top losers in the index.
4. Sectoral indices today
Nifty Realty clocked a strong gain of 3.04 per cent, while PSU Bank (up 1.67 per cent), Metal (up 1 per cent), and FMCG (up 1 per cent) also clocked healthy gains.
Nifty Bank rose 0.54 per cent, while Financial Services also rose 0.91 per cent.
5. Most active counters in terms of volume
Vodafone Idea (76 crore shares), Tata Silver Exchange Traded Fund (15 crore shares), and Nippon India Silver ETF (13 crore shares) were the most active counters in terms of volume on the NSE.
6. 28 stocks jump over 10% on BSE
Genesys International Corporation, Tatva Chintan Pharma, Kretto Syscon, Gujarat Raffia Industries, and Trejhara Solutions were among the 28 stocks that jumped by more than 10 per cent on the BSE.
7. Advance-decline ratio
Out of 4,326 stocks traded on the BSE, 2,503 advanced, while 1,659 declined. Some 164 stocks remained unchanged.
8. Nearly 150 stocks hit 52-week highs
As many as 149 stocks, including Bajaj Finance, Eternal, Canara Bank, Cholamandalam Investment and Finance Company, L&T Finance, Bank of Maharashtra, MCX, RBL Bank, and Tata Communications, hit their 52-week highs in intraday trade on the BSE.
9. Nearly 140 stocks hit 52-week lows
Some 137 stocks, including Godrej Agrovet, KNR Constructions, Vedant Fashions, SKF India, and Westlife Foodworld, hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
According to Ajit Mishra, SVP of research at Religare Broking, the Nifty looks poised to retest the trendline hurdle near 25,450, and a decisive breakout above this level could propel the index toward 25,650 and beyond.
“We maintain a bullish bias and continue to advocate a ‘buy on dips’ approach as long as the index holds above the 25,000 support zone,” said Mishra.
According to Bajaj Broking, the Nifty formed a bullish candle with a higher high and higher low, signalling a lack of follow-through from the previous session’s bearish engulfing candle, which highlights the continuation of positive momentum.
“The index moved above last week’s high (25,330), signalling continuation of the formation of a higher high in the weekly chart, indicating positive bias. On the higher side, the index is expected to extend the current up move towards 25,450-25,500 levels, being the trendline resistance joining the major highs of September 2024 and July 2025,” said the brokerage firm.
“Immediate support lies around 25,000–25,100, which coincides with the previous swing low and the 20-day and 50-day EMAs. Index sustaining above the same will keep the short-term bias positive,” Bajaj Broking said.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
