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Markets relinquish some gains in late trade
Oct-30-2026

Benchmarks have relinquished some of earlier gains in late afternoon session as spike in crude oil prices sparked caution among investors. The Brent crude oil prices have surged past the $116 a barrel mark after a tanker came under attack while transiting through Strait of Hormuz and amid persistent tensions between Houthi and Saudi Arabia. Besides, capital outflows from foreign institutional investors (FIIs) capped the gains. FIIs were the net sellers on Thursday’s session offloading securities worth Rs 943.60 crore. However, markets continued to trade with gains of around half a percent supported by strong buying among IT counters and large cap banking stocks.

On the global front, Asian equity markets were trading mostly in red after tech and semiconductor share fell amid ongoing AI-related concerns.  European equity markets were trading mostly in green after European Central Bank kept interest rate unchanged.

The BSE Sensex is currently trading at 74569.83, up by 418.79 points or 0.56% after trading in a range of 74082.03 and 74742.59. There were 20 stocks advancing against 10 stocks declining on the index.

The few gaining sectoral indices on the BSE were IT up by 1.91%, Healthcare up by 1.37%, TECK up by 1.34% and Utilities up by 0.25%, while Capital Goods down by 2.05%, Telecom down by 1.74%, Industrials down by 1.66%, PSU down by 0.89% and Power down by 0.84% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 5.92%, Interglobe Aviation up by 3.19%, Infosys up by 2.81%, NTPC up by 2.47% and Sun Pharmaceutical Industries up by 2.24%. On the flip side, State Bank of India down by 1.68%, Reliance Industries down by 1.29%, Mahindra & Mahindra down by 1.28%, Axis Bank down by 1.12% and Tata Steel down by 1.09% were the top losers.

Meanwhile, the International Monetary Fund (IMF) has said that exchange rate flexibility should be the preferable policy response to help the Indian economy adjust to energy shocks, amid reports of significant intervention by the Reserve Bank of India (RBI) to support the rupee. According to reports, the RBI had used about $90 billion since June this year to prop up the rupee, including through sales to the spot market and currency swaps to absorb surplus liquidity. 

IMF Communications Director Julie Kozack said the IMF would recommend monetary policy tightening to preserve price stability if rupee depreciation started to feed into inflation. She said ‘If significant rupee depreciation leads to broad-based increases in inflation, then our advice would be that monetary policy tightening could be considered to preserve price stability, that is, if depreciation starts to feed into inflation.’

She said that more generally, foreign exchange intervention can be appropriate when market conditions become disorderly, which would be consistent with the IMF's integrated policy framework. She said ‘but in the case of India, our view is that exchange rate flexibility remains the preferable policy response.’

The CNX Nifty is currently trading at 23067.80, up by 131.05 points or 0.57% after trading in a range of 22905.10 and 23118.10. There were 32 stocks advancing against 17 stocks declining on the index.

The top gainers on Nifty were Trent up by 6.02%, Interglobe Aviation up by 3.33%, Sun Pharmaceutical Industries up by 3.19%, Infosys up by 3.09% and HCL Technologies up by 2.70%. On the flip side, Adani Ports & SEZ down by 1.89%, Shriram Finance down by 1.41%, Coal India down by 1.34%, Adani Enterprises down by 1.27% and Mahindra & Mahindra down by 1.10% were the top losers.

Asian equity markets were trading mostly in red; Nikkei 225 slipped 1589.47 points or 2.52% to 63,070.00, Taiwan Weighted lost 1156.5 points or 2.56% to 45,211.83, KOSPI dropped 206.92 points or 3.61% to 5,730.74, Straits Times fell 22.09 points or 0.41% to 5,373.94, Jakarta Composite plunged 26.85 points or 0.53% to 5,071.21 and Shanghai Composite weakened 52.41 points or 1.46% to 3,599.02, while Hang Seng advanced 341.35 points or 1.47% to 23,300.00.

European equity markets were trading mostly in green; UK’s FTSE 100 increased 38.08 points or 0.36% to 10,760.15 and France’s CAC rose 15.4 points or 0.19% to 7,985.40, while Germany’s DAX lost 30.98 points or 0.12% to 26,008.70.
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