It’s a Wrap: Nifty Rises 1.91% in October 2026 as Tech Shares Jump 17.69% and Brent Crude Climbs 15.71%
- 2nd November 2026
- 09:00 AM
- 4 min read
Summary
Indian shares rose in October 2026, with the Nifty 50 up 1.91% and the BSE Sensex up 2.73%. Information technology (IT) shares led the gains in a month when large companies reported September-quarter results. The Reserve Bank of India raised its key lending rate, Brent crude rose 15.71% and foreign investors kept selling.Mumbai | 2 November 2026
The Nifty 50 gained 432.65 points in October and the BSE Sensex gained 1,979.24 points. The Nifty Bank index ended almost flat.
| Index | 30 September close | 30 October close | Change (%) |
| Nifty 50 | 22,620.45 | 23,053.10 | +1.91% |
| BSE Sensex | 72,480.29 | 74,459.53 | +2.73% |
| Nifty Bank | 54,633.05 | 54,686.95 | +0.10% |
What Shaped Indian Markets in October? Six Key Factors
Quarterly results from IT companies, a rate hike by the Reserve Bank of India (RBI), higher oil prices, foreign selling, lower US bond yields and a stronger rupee shaped the month.
IT Shares Rose 17.69% During Results Season
Software shares fell globally earlier in 2026 on concerns that artificial intelligence (AI) could disrupt their business models. In October, the Nifty IT index rose 17.69% to 32,606.90, in a month when large IT companies, including TCS, HCLTech, Wipro and Tech Mahindra, reported September-quarter results.
TCS reported a 4% rise in net profit from the previous quarter to ₹13,884 crore. Its annualised AI revenue run rate crossed $3.1 billion, up from $2.6 billion a quarter earlier. HCLTech reported new deal bookings of $3.3 billion, up 27% from a year earlier. Its chief executive C Vijayakumar said, “Our AI propositions are resonating well with our clients.”
RBI Raised the Repo Rate to 5.50%
The RBI raised its repo rate by 0.25 percentage point to 5.50% on 7 October. It said rate cuts are off the table in the near term. Consumer price inflation rose to 4.8% in August from 4.5% in July.
Brent Crude Rose 15.71% on West Asia Tensions
Prices rose in late October on fears of renewed US military action against Iran, tanker incidents around the Strait of Hormuz and Ukrainian strikes on a Russian refinery. Brent crude ended October at $113.43 a barrel, up from $98.03 on 30 September. It reached a four-year high of $116.72 on 23 October.
FIIs Sold ₹45,161.71 Crore More Than They Bought
Foreign institutional investors (FIIs) were net sellers for the 16th month in a row. Domestic institutional investors (DIIs) were net buyers.
| Investor | Bought in October | Sold in October | Net buy/sell |
| FIIs | ₹2,93,947.63 crore | ₹3,39,109.34 crore | -₹45,161.71 crore |
| DIIs | ₹3,59,813.08 crore | ₹2,97,592.97 crore | +₹62,220.11 crore |
US Bond Yield Fell and the Fed Held Rates
The yield on the 10-year US Treasury bond fell to 4.93% on 30 October from 5.291% on 30 September. The US Federal Reserve (Fed) held its key interest rate in a range of 3.75% to 4.00% on 28 October, after raising it in September.
Rupee Gained to 94.927 Against the US Dollar
The rupee weakened to 96.828 against the US dollar on 8 October. It then recovered to 94.927 on 30 October, from 95.948 on 30 September.
Did Smaller Companies Join the Rise?
Smaller companies fell, with the Nifty Midcap 100 index down 3.42% to 57,301.25 and the Nifty Smallcap 100 index down 4.06% to 18,463.60.
| Sector index | 30 September close | 30 October close | Change (%) |
| Nifty IT | 27,704.80 | 32,606.90 | +17.69% |
| Nifty Media | 1,583.20 | 1,631.25 | +3.03% |
| Nifty PSU Bank (public sector banks) | 8,016.05 | 8,234.85 | +2.73% |
| Nifty Pharma | 26,438.00 | 27,124.85 | +2.60% |
| Nifty Financial Services | 24,649.50 | 24,712.20 | +0.25% |
| Nifty FMCG (fast-moving consumer goods) | 44,508.45 | 43,609.20 | -2.02% |
| Nifty Auto | 26,293.95 | 25,422.70 | -3.31% |
| Nifty Realty | 847.35 | 813.90 | -3.95% |
| Nifty Energy | 36,636.00 | 34,957.90 | -4.58% |
| Nifty Metal | 12,760.50 | 11,784.90 | -7.65% |
Price swings grew sharper. India VIX, which tracks expected market swings, rose to 15.30 on 30 October from 13.49 on 30 September. It closed at 17.16 on 26 October, its highest close of the month.
How Did Gold, Silver and Copper Perform in October?
All three metals fell. Silver fell the most, losing 19.04% to $48.903 an ounce.
| Commodity | 30 September close | 30 October close | Change (%) |
| Gold (US$ an ounce) | 4,157.80 | 3,875.80 | -6.78% |
| Silver (US$ an ounce) | 60.407 | 48.903 | -19.04% |
| Copper (US$ a pound) | 6.559 | 6.4585 | -1.53% |
How Did the IPO Market Perform in October?
A total of 13 mainboard initial public offerings (IPOs) worth ₹44,506.34 crore opened in October, up 13.02% from September. Another 13 small and medium enterprise (SME) IPOs worth ₹708.87 crore also opened, taking the total to 26 IPOs worth ₹45,215.21 crore.
Jio Platforms’ ₹30,187.65 crore issue made up 67.83% of the mainboard total. It was open from 21 to 23 October at ₹1,119 a share and listed on 28 October. Five mainboard issues were worth ₹1,000 crore or more.
| Company | Opening date | Issue size |
| Jio Platforms | 21 October | ₹30,187.65 crore |
| Zetwerk Manufacturing Business | 15 October | ₹5,012.33 crore |
| Bonfiglioli Transmissions | 15 October | ₹2,533.67 crore |
| Paras Healthcare | 21 October | ₹1,450.00 crore |
| EAAA India Alternatives | 26 October | ₹1,200.00 crore |
Key Takeaways From October 2026
- The Nifty 50 rose 1.91% and the BSE Sensex rose 2.73%, while midcap and smallcap shares fell.
- IT shares rose 17.69% in a month when large companies reported September-quarter results.
- The RBI raised its repo rate to 5.50% on 7 October.
- Brent crude rose 15.71%, while gold, silver and copper fell.
- FIIs were net sellers of ₹45,161.71 crore, while DIIs were net buyers of ₹62,220.11 crore.
- A total of 26 IPOs worth ₹45,215.21 crore opened, including Jio Platforms’ ₹30,187.65 crore issue.
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