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• %Domestic equity markets staged a strong recovery, with the Nifty gaining 1.3% and the Sensex rising nearly 1000 points, recovering most of the previous session’s losses. The rebound was supported by easing crude oil prices, encouraging TCS quarterly results, positive global market trends, declining US bond yields, %strong quarterly business updates, and bargain hunting following the indices’ fall to multi-month lows.

• Asian and European markets advanced by over 1%, supported by a decline in the US 10-year Treasury yield and a 2% drop in crude oil prices to around $103 per barrel. Oil prices weakened after US President Donald Trump indicated that the United States would not attack Iran before the November midterm elections.

• The Nifty rose 288 points, or 1.3%, to close at 22,520, while the Sensex advanced 879 points, or 1.4%, to settle at 72,472. The rally was primarily led by IT, automobile and banking stocks, followed by gains in select metal and mid-cap shares.

• The Nifty IT index emerged as the top-performing sector, gaining over 3% after TCS reported encouraging quarterly results. Attractive valuations of domestic IT companies, compared with richly valued global semiconductor manufacturers, further supported investor sentiment. TCS surged 5% to close at Rs 2,171, while other IT stocks, including Infosys, Hexaware, Tata Technologies, Cyient, Persistent Systems, Wipro and HCL Technologies, gained up to 8%.

• The Bank Nifty also climbed 1.5% on optimism surrounding the upcoming quarterly earnings season, supported by encouraging business updates from several lenders. Kotak Mahindra Bank, ICICI Bank, HDFC Bank, State Bank of India and Axis Bank advanced by up to 2.5%, contributing to the broader market recovery.

Technical Outlook:

• Nifty index opened on a positive note and maintained its bullish momentum throughout the session. Support based buying was witnessed at lower levels as bulls defended crucial support zones and pushed the index near its days high. It formed a bullish candle on the daily frame while a Doji sort of a candle on the weekly frame after taking support at its six month swing low indicating buying at lower levels but continues to form lower top – lower bottom from the last nine weeks. Now it has to hold above 22500 zones for an up move towards 22650 then 22750 zones while support can be seen at 22350 then 22250 zones.

• S&P BSE Sensex index opened with a gap up and witnessed buying momentum throughout the day. Small dips were bought into as bulls remained in control for most part of the session. The index recovered its previous session's losses and closed on a strong note with gains of around 800 points. It formed a strong bullish candle along with an inside bar pattern on the daily chart. On the weekly scale, it formed a Doji sort of a candle indicating a tussle between the bulls and bears. For bulls to remain in control, index needs to sustain above its 10 DEMA. Now if it holds above 72500 zones, bounce could be seen towards 72700 then 73000 zones while a hold below the same could see weakness towards 72000 then 71800 zones.

Derivative Outlook:

• Nifty future closed positive with gains of 1.49% at 22625 levels. Positive setup seen in Persistent, TCS, RBL Bank, Blue Star and ICICIGI while weakness seen in Amber, Dmart, Siemens, Jubilant Food, Oil, JSW Energy, MFSL, JSW Steel, Reliance, GAIL, Tube Investments, Godrej Consumer, Lodha, Swiggy and Biocon.

• On option front, Maximum Call OI is at 23000 then 22600 strike while Maximum Put OI is at 22500 then 22400 strike. Call writing is seen at 22600 then 22550 strike while Put writing is seen at 22500 then 22400 strike. Option data suggests a broader trading range in between 22000 to 23000 zones while an immediate range between 22300 to 22800 levels.

• Hexaware – Company announced a multi-year partnership with Anthropic to bring its Claude AI models into its enterprise technology platforms.

• KEC International – Company secured new orders worth Rs 1,030 crore across various businesses.

• Jash Engineering Total Orderbook At Rs 944 Crore – Company said in the month of September 2026, the consolidated orders received by the company are worth Rs 102 crore out of which orders worth Rs 43 crore are for Indian market and orders worth Rs 59 crore are for markets outside India.

• SEPC – Company has secured an order worth Rs 855 crore from Steel Authority of India Ltd. (SAIL). Following the order win, SEPC's total order book has crossed Rs 10,000 crore.

• Priority Jewels Eyes Middle East Expansion, Sees Capacity Scale-Up Ahead – Priority Jewels told NDTV Profit that it intends to further expand its presence in the Middle East market. The company said it currently sources gold from two to three banks for its jewellery manufacturing operations. Management said it is able to convert gold into jewellery within about one month, supporting operational efficiency.

Global Market Update

• Asian Market – Asian stocks gained after President Trump said the U.S. won't attack Iran before the November midterm elections. Japan market bounced back into positive territory while Hong Kong Index surged 1.7%. Both Taiwan and South Korea Index closed today.

• European Market – European shares advanced, erasing their weekly decline, as lower oil prices boosted sentiment. UK, Germany and France Index gained 1% each.

• Commodity – Oil prices declined 2% to $103/bbl after President Trump said the U.S. won't attack Iran before the November midterm elections.

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