India’s financial markets opened Thursday on a positive yet cautious note, as the Sensex climbed above 79,200 and Nifty crossed 24,050, buoyed by strong global cues and robust quarterly earnings.
Meanwhile, gold prices continued to glitter amid geopolitical concerns, the rupee remained steady, and crude oil traded in a narrow range ahead of the US Federal Reserve’s policy announcement.
“Markets are showing resilience despite volatility in oil and currency,” said Anil Shah, senior market strategist. “Investors are balancing optimism with caution ahead of global rate decisions.”
💹 Sensex and Nifty: Bulls Back in Action
The BSE Sensex gained 372 points, closing at 79,224, while the NSE Nifty rose 118 points to 24,052, led by banking, IT, and auto stocks.
Top gainers included HDFC Bank, Infosys, Tata Motors, and Reliance Industries, while metal and FMCG counters saw mild profit booking.
Key Drivers:
Strong corporate earnings from top private banks.
Renewed FII inflows after two weeks of selling pressure.
Optimism over global market stability as US inflation shows signs of cooling.
Analysts believe that if Nifty sustains above 24,000, a short-term rally toward 24,300–24,400 is possible.
🪙 Gold Prices Sparkle Amid Global Uncertainty
Gold prices continued their upward climb, supported by safe-haven buying.
In Delhi and Mumbai, 24-carat gold was trading around ₹63,400 per 10 grams, up ₹250 from Wednesday.
Silver also surged to ₹75,200 per kg.
According to experts, uncertainty over Middle East tensions and a weaker US dollar index have revived investor interest in bullion.
“Retail and festive demand remains strong, especially post-Dussehra,” said Manisha Gupta, commodity analyst. “If global tensions persist, gold could test ₹64,000 soon.”
💰 Rupee Holds Ground
The Indian rupee traded steady at ₹83.12 against the US dollar, as forex inflows offset crude-related outflows.
Dealers said the Reserve Bank of India (RBI) may have intervened mildly to prevent volatility.
With global currencies stabilizing, traders expect the rupee to stay within the ₹82.90–₹83.30 band for now.
🛢️ Crude Oil Prices Edge Lower
Oil prices were slightly down as supply concerns eased.
Brent crude hovered near $81.30 per barrel, while WTI was around $77.40.
Analysts attributed the decline to higher US inventories and weaker demand forecasts from Asia.
Lower oil prices are positive for India’s import bill, though any sudden escalation in geopolitical tension could quickly reverse the trend.
📊 IPO Buzz & Market Outlook
The primary market remains active with several new listings on the horizon:
Tata Technologies and Ola Electric are reportedly finalizing their IPO timelines for November.
Retail investors continue to show strong appetite, with oversubscriptions in small and mid-cap issues.
Market experts expect volatility ahead of the US Fed decision but maintain a “buy on dips” strategy for long-term investors.
🔦 Highlights
Sensex gains 372 points, Nifty above 24,000.
Gold prices up by ₹250 amid global tension.
Rupee steady at ₹83.12 per USD.
Oil prices soften near $81 per barrel.
IPO activity picks up; investors remain cautious before Fed decision.
💬 Expert Take
“India’s macroeconomic stability is keeping markets buoyant,” said Renu Mehta, head of equity research at FinSmart.
“If inflation data stays supportive and oil remains under control, the year-end rally could extend well into November.”
🏁 Conclusion
The Indian economy continues to balance global uncertainties with domestic strength. With stable fundamentals, controlled inflation, and strong corporate profits, the outlook for Indian equities and currency remains positive yet watchful.
Investors are advised to stay diversified and follow global cues as the next big move could depend on the US Fed’s tone and oil price direction.
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