InCred Markets

Closing Bell: Markets Recover amid Global Uncertainties Indian equity markets closed in positive territory on Monday after a highly volatile trading session. The benchmarks opened lower but recovered from their intraday lows, supported by buying at lower levels. However, the recovery came despite unfavourable global cues, with Brent crude prices hovering around $115 per barrel, escalating geopolitical tensions and the Indian rupee weakening beyond the 95 mark against the US dollar continuing to weigh on market sentiment. The Nifty 50 gained 153.20 points to close at 22,753.20, while the Sensex advanced 482.92 points to settle at 73,606.75. The Bank Nifty edged up 79.35 points to 54,366.70. Broader markets also recovered, with the Nifty Midcap 100 rising 664.75 points to 56,465.40 and the Nifty Smallcap 100 gaining 245.55 points to 17,985.00. Dr. Reddy’s Laboratories, JSW Steel, BSE, Adani Ports and Eternal supported the market’s upward movement, while Shriram Finance, Tata Consumer Products, Bajaj Finance and HDFC Life exerted downward pressure. Sectoral Performance The Nifty India Tourism index led sectoral gains, advancing 172.60 points to 7,529.45. The Nifty MidSmall IT & Telecom index gained 232 points to 10,153.45, while the Nifty Media and Nifty Consumer Durables indices ended in negative territory. Investors will closely track the Israel general election, the US Federal Reserve policy decision on October 28 and the US midterm elections on November 3. These events could influence global risk sentiment, interest-rate expectations and foreign capital flows. From an investment perspective, the recovery remains encouraging but does not yet confirm a sustained trend reversal. Elevated crude prices, rupee depreciation and geopolitical risks warrant a cautious approach, with preference for fundamentally strong companies, earnings visibility and disciplined risk management.