Mumbai, Oct 20 – Indian shares lit up early on Diwali, with the benchmark Sensex rising 0.8 % to 84,614 and the Nifty climbing 0.7 % to 25,901.
The market opened higher by 661 points for the Sensex and 191 points for the Nifty, signaling a festive boost in investor sentiment.
What traders are saying
Market experts advise that new long positions should wait until the Nifty stays above the 26,000 level. “The market feels cautiously bullish, but keep an eye on technical levels and global news,” they said.
Strong performers
Banking names led the gains. Kotak Mahindra, Axis, HDFC Bank, and the Bajaj twin firms all jumped about 3 %. The Nifty’s IT, private‑bank, and pharma indexes also pushed up roughly 0.7 %.
Who lost
ICICI Bank fell 2.2 % after its Q2 results, as investors took profits. Ultratech Cement and Mahindra & Mahindra saw modest dips early on.
Mid‑ and small‑cap action
The Nifty MidCap rose 0.66 %, while the SmallCap ticked up 0.19 %. The Bank Nifty hit a fresh record high, up 0.7 %.
Investor buying
Foreign institutional investors (FIIs) added Rs 309 crore in shares, their second straight day of buying on October 17. Domestic institutional investors (DIIs) poured over Rs 1,526 crore into equities the same day, showing strong domestic support.
Risk advice
Given the current volatility and mixed signals, analysts recommend a cautious “buy‑on‑dips” strategy, especially for leveraged traders. “Take partial profits when markets rally and maintain tight trailing stop‑losses to manage risk,” they added.
The strong start marks the beginning of a positive week for the Indian stock market.
Source: ianslive
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