The Indian stock market has enjoyed a sustained bull run in recent sessions, as investor confidence appears to have returned to domestic equities. A strong start to the September quarter earnings, easing valuation concerns, and progress in the trade deal between India and the US have boosted risk appetite, driving frontline indices to register robust rallies and bringing them close to their record highs.
The on Tuesday, extending its winning run to the fifth consecutive session, resulting in a cumulative return of nearly 3%. The rally also led the index to gain 5.11% in October so far, its best monthly jump since March 2025.
Nifty on the verge of record high
With the latest rally, the index , just 1.55% away from crossing that level, currently at 25,868. The index had earlier attempted to cross this level multiple times but failed to break through amid heightened volatility; it has never come closer than this.
Meanwhile, the recent run-up has also helped the index to gain 9.4% in the current year so far, and it is on track to register ten consecutive yearly gains.
The early September quarter results indicate a recovery in earnings, especially in the banking space, where companies announced improvements in margins and a recovery in lending, while the top IT companies also delivered better-than-expected numbers.
These factors have also influenced overseas investors to change their bearish stance on Asia’s largest economy, as they .
In recent months, both the RBI and the government have undertaken several policy initiatives, the latest being GST rate cuts, aimed at reviving domestic consumption and the impact of these measures is already becoming visible in improved urban consumer sentiment.
The Street also remains optimistic that these factors could drive a sharp earnings recovery in the second half of FY26, which analysts expect will keep the momentum of the Indian stock market going and may potentially erase its underperformer tag among key global markets.
Can Nifty 50 make a new record high this time?
Rupak De, Senior Technical Analyst at LKP Securities, said, “The Nifty continued to remain in an uptrend even during the Muhurat trading session, though the actual range remained small due to the shortened trading window. Sentiment continues to favor the bulls, with the index sustaining above the critical 21 EMA. The RSI has entered a highly ambitious momentum zone and looks ready to strengthen in the coming sessions. In the short term, a rally towards 26,000/26,200 looks possible, while support is placed at 25,700.”
Ponmudi R, CEO – Enrich Money, said the structure remains bullish as long as Nifty sustains above 25,800, with 25,750 acting as immediate support. On the downside, 25,600–25,500 serves as a key support band, while a decisive breakout above 26,000–26,300 could lead to fresh lifetime highs.
The broader sentiment stays positive, supported by robust Q2 earnings, festive liquidity, and steady foreign institutional inflows, he further added.
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