Mumbai (Maharashtra): The Indian stock market on Monday, October 20, closed in green territory, buoyed by strong quarterly results from leading lenders and a rebound in global risk appetite following signs of easing US-China trade tensions.
The BSE Sensex settled at 84,363.37, up 411.18 points (0.49%), while the NSE Nifty50 rose 133.3 points (0.52%) to 25,843.15. Investor sentiment was driven by gains in PSU banks, private banking, and oil & gas sectors, although consumer durables and metals faced some pressure.
Bank Nifty hits new highs
The Bank Nifty stole the spotlight, hitting a fresh all-time high for the second consecutive session, reflecting robust momentum in the banking sector and strong investor confidence. The index closed at 58,033.20, underscoring optimism in financial stocks.
Among the major gainers, Reliance Industries, Shriram Finance, Bajaj Finserv, Cipla, and Dr Reddy’s Labs led the rally, while ICICI Bank, Eternal, Adani Ports, JSW Steel, and M&M recorded losses.
Expert insights on festive market sentiment
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said, “As the festive spirit of Diwali fills the air, the Indian equity markets have mirrored the mood with a strong start to the week. Investors welcomed the auspicious beginning with renewed enthusiasm, pushing benchmark indices higher and setting the tone for a potentially prosperous Samvat.”
Ajay Bagga, Banking and Market Expert, added, “Indian market futures continue their strong momentum, reflecting optimism across sectors.” Analysts highlighted robust consumer spending in automobiles, white goods, clothing, gold, and silver as key factors supporting market activity.
Upcoming triggers for investors
The truncated trading week will be event-heavy. On October 21, the Diwali Special Muhurat Trading session marking the start of Samvat 2082 will be closely watched for sentiment cues, with strong retail and institutional participation expected.
The Q2FY26 earnings season will continue, with major companies such as Colgate, Hindustan Unilever, Dr Reddy’s Laboratories, SBI Life Insurance, Coforge, and Kotak Mahindra Bank set to release results. These reports will provide insights into margin trends, demand strength, and sectoral performance as India enters the festive quarter.
Globally, US tariff developments on China, crude oil prices, and currency movements will remain key factors influencing investor sentiment, noted Ajit Mishra, SVP of Research at Religare Broking Ltd.