Sensex Jumps 300 Points to 84,700, Nifty Gains 80 Points Led by Auto and Banking Stocks
On the last trading day of the week, Friday, October 31, Indian equity markets opened on a positive note with strong buying interest across key sectors. The Sensex rose 300 points to trade at 84,700, while the Nifty gained 80 points to reach 25,950. The broader market sentiment remained optimistic despite mixed global cues and recent volatility.
Out of the 30 stocks listed on the Sensex, 17 were trading higher. Maruti, TCS and BHEL led the gains, while NTPC, Tata Steel and Kotak Bank saw minor declines. On the Nifty, 29 out of the 50 constituent stocks were in positive territory. Sector-wise, NSE’s auto, banking and realty indices registered gains, whereas media, metal and pharma indices traded lower.
Asian markets showed mixed trends during early trade. Japan’s Nikkei closed 1.21 percent higher at 51,948, and South Korea’s Kospi rose 0.40 percent to close at 4,103. However, Hong Kong’s Hang Seng index fell 0.80 percent to 26,071, while China’s Shanghai Composite slipped 0.63 percent to trade at 3,961.
Global cues from Wall Street remained weak. On October 30, the Dow Jones Industrial Average fell 0.23 percent to 47,522. The Nasdaq Composite declined 1.57 percent and the S&P 500 dropped 0.99 percent, signaling caution among global investors.
Meanwhile, the much-awaited IPO of eyewear brand Lenskart opened today, October 31. Investors can place bids for the offering until November 4. The price band has been set at ₹382 to ₹402 per share. The minimum lot size is 37 shares, requiring an investment of approximately ₹14,874 for a single lot. Lenskart aims to raise around ₹7,278 crore through this public issue. The company’s shares are expected to list on the BSE and NSE on November 10.
In institutional activity, foreign institutional investors (FIIs) sold shares worth ₹3,077.59 crore in the cash segment on October 30. In contrast, domestic institutional investors (DIIs) recorded a net purchase of ₹2,469.34 crore. For the month of October so far, FIIs have made net purchases of ₹4,422.45 crore, while DIIs have recorded a significant net buying of ₹45,725.58 crore.
In September, FIIs had sold equities worth ₹35,301.36 crore, whereas DIIs supported the market by purchasing shares worth ₹65,343.59 crore.
Looking at the previous session, markets witnessed broad-based selling pressure. On Thursday, October 30, the Sensex dropped 593 points to close at 84,404, and the Nifty fell 176 points to end at 25,878. Out of the 30 Sensex stocks, 23 closed lower. Notable losers included Bharti Airtel, Power Grid, Tech Mahindra and Infosys, each slipping up to 1.5 percent. However, L&T and BEL managed to close in the green.
On the Nifty, 40 of the 50 stocks ended in negative territory. All major NSE sectoral indices fell, with IT, FMCG, pharmaceuticals, metals and healthcare witnessing the steepest declines.
Despite the previous day’s weakness, the markets recovered sharply today, supported by strong domestic buying from DIIs and renewed interest in auto and banking stocks. Analysts believe that the Lenskart IPO, fresh FII inflows, and stability in crude oil prices could help maintain positive momentum in the coming sessions.
The trading day continues to show resilience in Indian equities, and experts remain cautiously optimistic as the market reacts to both global and domestic economic signals.
