Indian equity markets ended Thursday, October 29, on a strong note, with benchmark indices recording gains of more than 1%. The BSE Sensex advanced 905.01 points, or 1.24%, to close at 74,151.04, while the NSE Nifty 50 climbed 237.90 points, or 1.05%, to finish at 22,936.75.
The rally was supported by buying across several sectors, encouraging corporate earnings and improved investor sentiment following the US Federal Reserve's decision to keep interest rates unchanged. Adani Ports emerged as one of the session's standout performers, gaining more than 6%.
The gains came after a period of pressure on domestic equities, with investors assessing global economic developments, crude oil movements and the latest quarterly results.
Adani Ports leads the Nifty 50 gainers
Adani Ports and Special Economic Zone was the strongest performer among Nifty 50 constituents, rising approximately 6.17% to close at ₹1,872. The stock attracted attention following the company's September-quarter financial results, which showed growth in profit and revenue.
The company reported consolidated net profit of ₹3,622 crore for the quarter ended September 30, compared with ₹3,109 crore in the corresponding period a year earlier. Revenue from operations increased 23.7% to ₹11,340 crore.
The company handled 142 million metric tonnes of cargo during the quarter, representing growth of around 15% year-on-year. Strong container and dry-cargo volumes contributed to the performance.
Adani Enterprises also advanced, gaining around 5.69%. Other major gainers included Power Grid Corporation, Kotak Mahindra Bank and Eternal, reflecting broad participation in the market's upward movement.
Sensex and Nifty recover as buying spreads
The Sensex reached an intraday high of 74,166.16, while the Nifty touched 22,961.95 during the session. By the closing bell, 39 stocks in the Nifty 50 had advanced and 11 had declined.
The Sensex's gain of 905.01 points marked a substantial recovery for the benchmark index. The Nifty's rise of 1.05% also brought it closer to the 23,000 level, a closely watched market milestone.
Buying interest extended beyond a handful of heavyweight companies, with real estate, fast-moving consumer goods and public-sector banking shares contributing to the positive sentiment.
The market's advance followed a strong session in which investors responded to corporate earnings and developments in international financial markets.
Federal Reserve decision supports investor sentiment
The US Federal Reserve's decision to maintain its benchmark interest rate provided support to market sentiment. Investors also assessed the potential implications of the decision for global capital flows and emerging-market equities.
Domestic institutional and foreign investor activity added another dimension to the market's movement. Exchange data showed that foreign institutional investors purchased equities worth ₹871.83 crore on Wednesday, while domestic institutional investors recorded net purchases of ₹643.35 crore.
Lower crude oil prices during the previous session also helped improve sentiment, although international energy markets remained a source of uncertainty.
What investors are watching next
Market participants are expected to monitor upcoming corporate earnings, global developments and movements in crude oil prices. The September-quarter results remain particularly important as investors assess whether company performance can support current market valuations.
Although Thursday's rally provided relief after recent volatility, it does not necessarily indicate a sustained upward trend. Global geopolitical risks, currency movements and changes in foreign investment flows could continue to influence trading.
For now, the latest session marked a strong recovery for India's benchmark indices, with Adani Ports and other heavyweight stocks helping lift the broader market. The Nifty's close near 22,937 and the Sensex's gain of more than 900 points made Thursday one of the notable sessions of the week.
