Nifty trade above 22,500 level in early trade; breadth strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 409.80 points or 0.58% to 72,318.02. The Nifty 50 index rose 125.50 points or 0.56% to 22,547.45.
In the broader market, the BSE 150 MidCap Index rose 0.50% and the BSE 250 SmallCap Index added 0.59%.
The market breadth was strong. On the BSE, 2,178 shares rose and 1,175 shares fell. A total of 249 shares were unchanged.
FPIs sold shares worth Rs 9,569.57 crore in October through 1 October 2026. This follows net selling of Rs 45,536.89 crore in September 2026, while FPIs were net buyers of Rs 17,366 crore in August 2026.
RBI MPC begins 3-day meeting
The RBI Monetary Policy Committee (MPC) began its 3-day meeting today, 5 October 2026, to deliberate on interest rates and assess inflation, economic growth and financial conditions. The meeting will conclude on 7 October 2026, with markets closely watching whether the RBI will raise the repo rate for the first time since February 2023.
Stocks in Spotlight:
HDFC Bank rose 1.12% after the company announced that the Reserve Bank of India (RBI) approved the appointment of Anup Bagchi as managing director & chief executive officer (CEO) of the bank for a period of 3 years with effect from 27 October 2026. Anup Bagchi holds a management degree from the Indian Institute of Management, Bangalore, and an engineering degree from the Indian Institute of Technology, Kanpur. Bagchi served as executive director of ICICI Bank from 2017 to 2023.
Bajaj Finance added 3.09% after the company reported a 16.5% YoY increase in customer franchise for Q2 FY27, with the customer base rising to 128.85 million during the quarter ended 30 September 2026 from 110.64 million recorded in the same period last year.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.03% to 7.210 compared with the previous session close of 7.209.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.2475 compared with its close of 96.2500 during the previous trading session.
MCX Gold futures for the 4 December 2026 settlement declined 0.59% to Rs 1,49,507.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.53% to 102.47.
The United States 10-year bond yield shed 0.30% to 5.264.
In the commodities market, Brent crude for the November 2026 settlement declined 76 cents or 0.74% to $101.49 a barrel.
Global Markets:
Most Asian indices traded higher on Monday, even as investor sentiment remained cautious amid elevated crude oil prices and high US Treasury yields. Markets in mainland China and South Korea remained closed for holidays.
Softer-than-expected US jobs data eased expectations of an interest rate hike by the US Federal Reserve at its October meeting. However, investors remained cautious as the US 10-year Treasury yield had climbed to 5.34% last week, its highest level since 2002. Elevated yields increase borrowing costs and can weigh on equity valuations, even if the Fed keeps its policy rate unchanged in the near term.
Meanwhile, crude oil prices remained elevated. Brent crude was trading around $102.20 a barrel on Monday morning after briefly moving above $103, as Saudi-backed Yemeni forces launched a campaign to reclaim Houthi-controlled areas. Continued geopolitical tensions in the Middle East kept concerns over oil supply elevated.
US stocks ended higher on Friday after weaker-than-expected jobs data reduced expectations of a Federal Reserve rate hike at its policy meeting later this month. The Dow Jones Industrial Average rose 250.40 points, or 0.49%, to 51,176.96, while the S&P 500 gained 56.27 points, or 0.73%, to 7,722.72. The Nasdaq Composite advanced 319.27 points, or 1.19%, to 27,190.86. US nonfarm payroll employment increased by just 29,000 in September, well below economists' expectations of 90,000. The unemployment rate rose to 4.2% from 4.1% in August. Payroll gains for July and August were also revised lower by a combined 60,000.
The weaker-than-expected jobs data sharply reduced expectations of a 25-basis-point Fed rate hike at the end of October. CME FedWatch put the probability of a hike at 22.7%, down from 24.4% in the previous session and 64.2% a week earlier.
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