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2mo ago

Diwali Rally Puts Sensex, Nifty Near Records as Brokerages Tout Samvat 2082 Winners

Renewed foreign buying powers a festive surge.

While Sensex has gained 7.54% this year, Nifty climbed 9% on a year to date basis.
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Overview

  • Sensex has jumped about 4,159 points in October as foreign portfolio investors turned net buyers, leaving both benchmarks just shy of their all‑time highs.
  • Technical analysts flag firm support for Nifty around 25,600–25,700 and see a near‑term push toward 26,000–26,300 if momentum holds, with Nifty Bank already at record levels.
  • Flows remain mixed as FPIs logged a fourth straight buying session while domestic institutions started Samvat 2082 with net selling of roughly Rs 607 crore.
  • Brokerages rolled out top‑stock lists for the new market year, with recurring picks including HDFC Bank, Larsen & Toubro and JSW Energy, and some preferring Swiggy over Zomato in foodtech.
  • Strategists cite RBI rate and CRR cuts, GST rationalisation and income‑tax relief as supports for a rebound in corporate earnings, with several houses expecting steadier double‑digit growth in FY26–FY27 and some projecting Nifty near 29,000–30,000 by next Diwali.