Mumbai, Oct 29 (2025):
Indian equity markets opened on a bullish note today as global cues improved and oil & gas shares led the rally. The Sensex gained over 250 points, while the Nifty 50 hovered above 26,000, marking a strong rebound from yesterday’s choppy session.
The BSE Oil & Gas index jumped 0.9%, supported by ONGC, Reliance Industries, and Indian Oil, as crude prices climbed amid Middle East tensions and optimism around a potential U.S. interest-rate pause.
“Investors are shifting focus from short-term volatility to longer-term earnings growth. Oil and banking sectors remain top picks,” said Ravi Sinha, a senior analyst at Angel One.
🏦 Sensex & Nifty: Market Highlights
By noon, the Sensex was up 247 points (0.36%) at 65,478, while the Nifty gained 78 points to 26,020.
Top gainers included Reliance Industries, HDFC Bank, and Infosys. Among laggards were Bajaj Finance and HUL.
Foreign institutional investors (FIIs) turned net buyers after five straight sessions of outflows, injecting optimism into the market. Broader indices such as the Nifty Midcap 100 and Smallcap 100 also rose 0.5%.
🛢️ Crude Oil Prices Edge Higher
Crude oil prices rose on Wednesday as geopolitical risk in the Middle East and expectations of steady demand boosted sentiment. Brent Crude hovered near $88.40 per barrel, while WTI traded at $84.15.
India, which imports nearly 85% of its crude, remains sensitive to global oil swings. Analysts said sustained high oil prices could widen the current account deficit and pressure the rupee.
“The global oil market remains tight, but India’s refining margins are holding up,” said Ritika Mehra, energy economist at Kotak Securities. “Refiners have diversified imports since the Russia discounts began to fade.”
💰 Rupee Weakens to ₹88.29 Against US Dollar
The Indian rupee fell 18 paise today to close at ₹88.29 per USD amid rising crude prices and a stronger dollar index globally. This marks its weakest level in two weeks.
Traders said the rupee’s decline was cushioned by healthy foreign inflows into equities and expectations that the Reserve Bank of India would step in if volatility deepens.
“Given crude’s uptrend and the Fed’s hawkish stance, the rupee may test 88.50 in the near term,” noted Nitin Kamal, FX strategist, HDFC Securities.
🟡 Gold Prices Hold Firm Ahead of Festive Demand
Domestic gold prices stayed steady as festive buying continued ahead of Diwali and Dhanteras. On MCX, gold futures traded near ₹72,800 per 10 grams, while silver was around ₹89,200 per kg.
Internationally, spot gold hovered near $2,372 per ounce, supported by safe-haven demand amid Middle East tensions. Jewelers reported strong early bookings this festive season.
“We’ve seen a 15% increase in pre-Diwali orders compared to last year,” said Ramesh Khurana, vice-president of the All India Gem & Jewellery Federation.
💼 IPO Buzz: Investor Appetite Stays Hot
The primary market remained active as Orkla India Foods and Fusion Microfinance II Ltd opened their IPOs for subscription. Both issues saw strong participation from retail and institutional investors.
Orkla India Foods’ ₹4,100 crore issue was subscribed 2.3 times on Day 1, while Fusion Microfinance attracted bids worth ₹980 crore in early trade.
“The robust IPO pipeline reflects investor confidence in India’s mid-cap growth story,” said Priya Menon, Equity Strategist at Motilal Oswal.
🌏 Global Cues & Outlook
Markets worldwide remained cautious ahead of the U.S. Federal Reserve’s policy decision and OPEC+ production review next week. Asian indices traded mixed, with Japan’s Nikkei down 0.3% and Hong Kong’s Hang Seng up 0.8%.
Analysts expect Indian markets to maintain momentum in November, driven by Q2 earnings, festive sales data, and a potential pause in rate hikes.
🔍 Conclusion: The Market Pulse
India’s financial landscape on October 29 2025 is a picture of cautious optimism.
The Sensex climbs on energy and banking strength.
Crude oil remains volatile but manageable.
The rupee faces mild pressure.
Gold holds firm on seasonal demand.
IPOs signal robust investor confidence.
As the week progresses, investors will closely watch U.S. inflation data, the Fed’s tone, and OPEC’s stance to navigate volatility ahead.
“India’s macro story remains intact — domestic consumption and earnings growth are keeping our markets resilient,” concluded market veteran Rajesh Chhabra of JM Financial.
