Stock Market Update: Nifty 50 and Sensex Open Higher Before Diwali

The stock market today witnessed a strong start as major indices rallied significantly ahead of the Diwali festival, driven by declining crude oil prices and increased foreign institutional interest. The Nifty 50 advanced 293.15 points to begin the session at 25,337.80, marking an eight-month peak compared with the previous close. Meanwhile, the Sensex climbed 1,142.03 points to reach 82,248.68, and the Bank Nifty started the day up by 783.45 points at 60,524.70.

Broader market performance supported the upward momentum. Both the Nifty Midcap 100 and the Nifty Smallcap 100 indices recorded gains of nearly one percent each. In the currency market, the Indian rupee strengthened by 29 paise, opening at Rs. 93.74 per dollar on Wednesday compared to the previous close of Rs. 93.93. Foreign Institutional Investors injected $5.68 billion into Indian shares this month, marking the highest monthly influx since September 2024.

Technical Perspectives and Market Range

Analysing the technical indicators, Sachin Gupta, VP of Technical Research at Choice Equity Broking Private Limited, noted that the market remained range-bound with buying interest visible at lower levels. He stated that the index continues to trade above key moving averages, though the Daily RSI at 79.67 signals an overbought zone. Ponmudi R, CEO of Enrich Money, added that momentum indicators favour the bulls while pointing towards overbought conditions, noting that sustained trading above 24,800 remains essential to preserve the near-term positive structure.

Major Indian stock indices opened sharply higher ahead of Diwali, boosted by falling crude prices.

Bank Nifty successfully sustained above its earlier resistance zone between 58,600 and 58,700, reflecting continued control by buyers. Market observers noted that the 60,000 mark serves as a critical level for the banking index going forward, with immediate support identified at 59,000.

Why it matters

This market surge directly impacts investors and traders across India by reflecting strong domestic economic sentiment and renewed foreign capital inflows ahead of a major festive period. The positive movement across major indices and the strengthening of the rupee illustrate changing financial conditions that influence portfolio strategies in the region.