Markets opened on a positive note Tuesday morning, with the starting at 25,085.30 from its previous close of 25,077.65 and trading at 25,182.95, up 105.30 points or 0.42 per cent, at 10 am. The opened at 81,883.95 against its previous close of 81,790.12 and was at 82,148.80, higher by 358.68 points or 0.44 per cent, tracking positive global cues and sustained domestic institutional support.
The rally came despite continued foreign institutional investor selling, which moderated to ₹313 crore on October 6, while domestic institutional investors pumped in ₹5,036 crore on the same day. “Yesterday FII selling figure was only ₹313 crores and this was totally eclipsed by the massive DII buying of ₹5,036 crores,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
Financials led the gainers withs surging 2.24 per cent to ₹313.10, followed by up 1.50 per cent at ₹1,024, and ICICI Bank gaining 1.07 per cent to ₹1,378. advanced 1.31 per cent to ₹386.90, while Eicher Motors rose 1.18 per cent to ₹339.05.
On the losing side, declined 2.08 per cent to ₹4,677.90, fell 1.46 per cent to ₹1,195.10, and InterGlobe Aviation dropped 1.06 per cent to ₹5,634. Tata Consultancy Services slipped 0.75 per cent to ₹2,966, and Max Healthcare shed 0.63 per cent to ₹1,132.50.
“Indian equities are set for a steady yet cautious start, with some mild profit-taking likely after the recent strong rally,” said Ponmudi R, CEO of Enrich Money. “The broader undertone, however, remains positive, supported by robust consumption trends during the ongoing festive season—particularly in the auto and consumer durable segments.”
Technical indicators suggested continued upside potential. “As long as Nifty holds above 24,950 and Bank Nifty sustains above 55,700, dips are expected to attract buying interest, keeping the broader uptrend intact,” Ponmudi added. The Bank Nifty crossed the 56,300 mark with support at 56,000 and 55,850.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, maintained a bullish stance. “This Deepavali, prosperity seems set to light up Dalal Street as bullish momentum steadily becomes the new normal,” he said, adding that “buy-on-dips stays the mantra.”
Bullion markets witnessed sharp gains with gold hitting fresh all-time highs. “Gold prices surged to lifetime highs, moving closer to the $4,000 per troy ounce mark,” said Rahul Kalantri, VP Commodities at Mehta Equities Ltd. Gold had support at ₹1,19,600-1,19,280 with resistance at ₹1,20,850-1,21,400, while silver had support at ₹1,46,450-1,45,850 and resistance at ₹1,48,550-1,49,450.
“A combination of retail and institutional buying, along with ongoing hopes for a Federal Reserve rate cut, despite the lack of key economic data, is keeping upward pressure on prices,” said Darshan Desai, CEO of Aspect Bullion & Refinery.
lower than the expected 5,00,000 barrels per day. In rupee terms, crude oil had support at ₹5,420-5,350 and resistance at ₹5,555-5,615.
“The combined effect of the Budget income tax cut, GST cuts and low interest rate regime can impart resilience to India’s GDP growth, and corporate earnings in FY27 can smartly pick up to about 15 per cent,” Dr Vijayakumar said. “Time for investors to turn positive.”