Sensex Rises 1.24% on Oct 29, 2026 as FMCG, Adani Ports Rally

Key takeaways

• The BSE Sensex rose 905.01 points, or 1.24%, to 74,151.04 on October 29, 2026, and the Nifty 50 gained 237.90 points, or 1.05%, to 22,936.75. Yahoo Finance and Investing.com show the same closing figures.
• Consumer stocks led the rally. The Nifty FMCG index climbed 2.34% to 43,882.95, while the Nifty Bank index added 1.18% to 54,909.65.
• Adani Ports was the standout large-cap. It rose 6.29% to ₹1,872.00 on the NSE after PTI reported an 18% rise in second-quarter consolidated net profit to ₹3,682.44 crore.
• The US Federal Reserve held its policy rate in a 3.75%–4.00% range on October 28, removing a near-term risk for emerging-market assets.
• The rupee did not join the rally. The RBI reference rate was ₹95.3688 per dollar at 1:00 pm IST, against ₹95.2278 a day earlier.

Session recap

Indian stocks snapped a two-session losing streak on Thursday with the strongest close in the past week. Both benchmarks finished near their highs: the Sensex traded between 73,181.90 and 74,166.16 and the Nifty 50 between 22,656.75 and 22,961.95, according to Investing.com. Kotak Neo reported a flat open, followed by steady gains through the morning. Gains widened in the afternoon. At about 12:00 pm IST the Sensex was up 0.83% at 73,854.21, Outlook Business reported, so most of the rise came in the second half of the session. For the regional picture, see Asian and global markets today. For the previous session, read our India stocks brief for October 28, when an IT selloff pulled the Sensex down 0.48%.

Previous closes used for the changes: Nifty 50 22,698.85, Sensex 73,246.03, Nifty Bank 54,267.40, Nifty FMCG 42,878.35, Nifty IT 31,553.40, Nifty Auto 25,707.35, Adani Ports ₹1,761.30, and FBIL reference rate ₹95.2278 (October 28). A higher USD/INR figure means a weaker rupee. On Investing.com, spot USD/INR was 95.319 at 10:12 UTC, up from a previous close of 95.22.

What drove it

Fed holds rates, removing a near-term risk

The Federal Reserve kept the federal funds target range at 3.75% to 4.00% after its October 27–28 meeting, according to the Fed's implementation note. Outlook Business reported that Chair Kevin Warsh said "inflation is too high" and that two Fed officials had favoured a rate hike. V K Vijayakumar, chief investment strategist at Geojit Investments, said "the Fed holding rates as expected is mildly positive for equity markets, globally," PTI reported via ETV Bharat. The hold did not settle the outlook, however. Ankita Pathak of Ionic Asset told Outlook Business that a "December 2026 hike seems likely." Our explainer on the Fed's October meeting covers that debate.

Earnings: Adani Ports and defensive consumer names

Adani Ports reported an 18% rise in second-quarter consolidated net profit to ₹3,682.44 crore, PTI reported. The stock was the top Sensex gainer in morning trade and closed 6.29% higher. Consumer staples led the sector table. The Nifty FMCG index's 2.34% gain outpaced every index in the table above. The Sunday Guardian reported that Hindustan Unilever, ITC, Power Grid, NTPC, Kotak Mahindra Bank and Reliance Industries were among stocks up 1% to 3% by early afternoon. IT shares recovered part of Wednesday's loss, with the Nifty IT index up 0.99%, while auto stocks were the main laggard.

Oil eases from a four-year high

Crude prices fell from elevated levels, which helped an oil-importing economy. Brent was at $114.10 a barrel at 7:48 am UAE time (03:48 UTC), down from a $115.32 settlement on Wednesday, The National reported. The paper linked the dip to a reported letter from US Vice President JD Vance to Iranian security official Mohsen Rezaei seeking to revive peace talks. President Donald Trump downplayed the outreach. PTI put Brent at $114.13, down 1.03%. Kotak Neo reported that crude eased on Thursday after touching a four-year high.

Foreign and domestic flows

Institutional buying supported the market. Foreign institutional investors bought a net ₹871.83 crore of Indian shares on October 28, and domestic institutions bought ₹643.35 crore, PTI reported, citing exchange data. Sachin Gupta of Choice Broking said "buying by both foreign and domestic institutional investors provided broad-based institutional support to the market." Provisional flow data for October 29 had not been published when this brief was written. Outlook Business noted that foreign outflows still total about $31 billion so far in 2026.

Jio Platforms extends its debut rally

Jio Platforms rose more than 5% to ₹1,490 in morning trade on its second day as a listed company, PTI reported. That took its market value to ₹13,72,145.59 crore. Background on the offer is in our Jio Platforms IPO allotment and listing guide.

Political & policy watch

• Capital gains tax: Finance Minister Nirmala Sitharaman said investors' views on long-term capital gains tax and securities transaction tax would be heard before the next Union Budget, the Sunday Guardian reported. It noted that no tax cut has been announced. The paper said Jefferies had suggested that a lower capital gains tax could improve India's appeal to foreign investors.
• Reserve Bank of India: The policy repo rate stands at 5.50%, according to the RBI website. The rupee opened at 95.17 per dollar on Thursday against a previous close of 95.22, Kotak Neo reported, but later gave up that gain.
• US–Iran diplomacy: The National reported, citing the Wall Street Journal, that Washington had warned several Gulf Arab states to prepare for a possible renewed military campaign after the November 3 US midterm elections. Any disruption to Middle East supply would feed into India's import bill and inflation.
• US yields: Outlook Business reported that the US 10-year Treasury yield was hovering around 5%. High US yields tend to compete with emerging-market equities for foreign capital.

What to watch next

Risk checklist for readers

• A Fed "hold" is not the end of the story: guidance and dissents can shift expectations for the next meeting and move the dollar and foreign flows.
• Oil prices near $115 a barrel matter for India's trade deficit, inflation and the rupee; check them alongside equity moves.
• A weaker rupee can reduce returns for foreign investors in rupee assets even on days when stock indices rise.
• Provisional FII/DII numbers are revised later by depositories; treat single-day figures as indicative.
• Large single-stock moves after earnings, such as Adani Ports on Thursday, can reverse as analysts revise estimates.
• Compare closing data with NSE and BSE, and policy rates with the RBI and Fed websites, rather than intraday snapshots.

This article is for information only and is not investment advice.