Sensex jumps 1,243 pts; private bank shares in demand

The key equity benchmarks traded with major gains in early afternoon trade, supported by a strengthening rupee and easing global bond yields and crude oil prices. The market sentiment remained positive as investors tracked September-quarter earnings, with the Nifty traded above the 22,950 mark. Private bank shares advanced after declining in the past trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex surged 1,243.22 points or 1.70% to 74,034.18. The Nifty 50 index jumped 334.75 points or 1.49% to 22,963.65.

In the broader market, the BSE 150 Midcap Index shed 0.22% and the BSE 250 Smallcap Index declined 0.75%.

The market breadth was negative. On the BSE, 1,712 shares rose and 2,375 shares fell. A total of 253 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.24% to 14.81. The Nifty 27 October 2026 futures were trading at 22,985 at a premium of 21.35 points as compared with the spot at 22,963.65.

The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 96.4 crore contracts at the 23,500 strike price. A maximum put OI of 50.9 crore contracts was seen at the 23,500 strike price.

Buzzing Index:

The Nifty Private Bank index rose 1.67% to 27,619.90. The index shed 0.58% in the past trading session.

ICICI Bank (up 2.44%), Bandhan Bank (up 2.27%), IndusInd Bank (up 2.09%), HDFC Bank (up 2.01%) and Axis Bank (up 1.88%), Kotak Mahindra Bank (up 0.91%), IDFC First Bank (up 0.66%), Yes Bank (up 0.42%), Federal Bank (up 0.26%) jumped.

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