Mumbai, October 29, 2026 (Yes Punjab News)
Benchmark equity indices traded higher on Thursday, supported by strong buying in fast-moving consumer goods (FMCG) and public sector banking stocks, while broader markets also remained in positive territory.
At the closing bell, the Sensex snapped its two-day losing streak, jumping 905.01 points, or 1.24 per cent, to close at 74,151.
The Nifty also advanced, surging 237.90 points, or 1.05 per cent, to settle at 22,936.75.
Commenting on the Nifty’s technical outlook, experts said the index had strongly reclaimed its 20-day moving average (20-DMA), accompanied by a breakout from consolidation on the daily chart, indicating an improvement in its price structure.
“Although 23,000 remains an immediate hurdle, the current setup suggests a high probability of the index moving towards its previous swing high of 23,175,” market watchers said.
“As long as the Nifty sustains above its 20-DMA and the crucial support zone of 22,800, the short-term outlook remains positive, with resistance at 23,175,” analysts noted.
The rally was led by defensive and banking stocks, with the Nifty Realty and Nifty FMCG indices emerging as the top sectoral performers, rising 2.75 per cent and 2.34 per cent, respectively.
The Nifty PSU Bank index also witnessed strong buying interest, advancing 2.20 per cent.
In contrast, auto stocks underperformed the broader market. The Nifty Auto index slipped 0.24 per cent, making it one of the few sectoral indices to end the session in the red.
Market breadth remained positive, with broader indices extending their gains alongside the benchmark indices.
The Nifty Midcap 100 and Nifty Smallcap 100 indices rose nearly 1 per cent each.
Meanwhile, the rupee traded in a range with marginal strength of around 0.04 per cent at 95.25, following the US Federal Reserve’s decision to keep interest rates unchanged at 3.75–4 per cent.
“The rupee is expected to remain range-bound, with a near-term range of 94.75–95.75,” analysts said.
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