Sensex, Nifty see sharp recovery; is the worst finally over?
Dinshaw S Irani, CEO of Helios Capital India, told Business Today that the worst may be over for Indian markets, citing further strengthening of the rupee and better-than-expected Q2 FY27 earnings, which could provide further impetus to growth.
- Oct 29, 2026,
- Updated Oct 29, 2026 4:20 PM IST
Indian equity benchmarks staged a strong recovery on Thursday amid improved investor sentiment and favourable domestic cues. The 30-share BSE Sensex pack climbed 905.01 points or 1.24 per cent to settle at 74,151.04, while the NSE Nifty index advanced 237.90 points or 1.05 per cent to close at 22,936.75.
On the sectoral front, buying was visible across several segments, with realty, FMCG and select banking stocks leading the recovery. The broad-based advance indicated an improvement in market participation following the recent correction.
However, sustained buying across sectors will be crucial for the recovery to gain further strength.
With that being said, Dinshaw S Irani, CEO of Helios Capital India, told Business Today that the worst may be over for Indian markets, citing further strengthening of the rupee and better-than-expected Q2 FY27 earnings, which could provide further impetus to growth.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "The Q2 FY27 earnings season has been positive, with no major negative surprises. Crude oil prices remained elevated but cooled from their highs. Some bottom fishing has taken place, and investors should follow a 'buy-on-dips' and 'sell-on-rallies' strategy. The US Federal Reserve's decision to maintain the status quo on interest rates has also provided a positive backdrop for the domestic market in the short to medium term."
Ajit Mishra, SVP (Research) at Religare Broking, stated, "Among the key macro factors, the US Fed maintained its benchmark interest rate at 3.75–4 per cent, while its commentary highlighted persistent inflation concerns. Global bond yields, dollar movements and expectations surrounding the future interest-rate trajectory will therefore remain in focus. Meanwhile, Brent crude eased modestly but continued to trade at elevated levels of around $114–115 per barrel amid persistent concerns over potential supply disruptions in West Asia."
Nifty support levels to watch
From a technical standpoint, Mishra believes the 22,500–22,700 zone is likely to act as immediate support for Nifty50, while the broader 22,200–22,400 band remains an important downside reference.
"Traders should use the rebound selectively, avoid aggressive leverage and maintain disciplined risk management. Investors may consider staggered accumulation in fundamentally strong companies at reasonable valuations, while closely monitoring crude oil prices, foreign fund flows and global bond yields," he further said.
Indian equity benchmarks staged a strong recovery on Thursday amid improved investor sentiment and favourable domestic cues. The 30-share BSE Sensex pack climbed 905.01 points or 1.24 per cent to settle at 74,151.04, while the NSE Nifty index advanced 237.90 points or 1.05 per cent to close at 22,936.75.
On the sectoral front, buying was visible across several segments, with realty, FMCG and select banking stocks leading the recovery. The broad-based advance indicated an improvement in market participation following the recent correction.
However, sustained buying across sectors will be crucial for the recovery to gain further strength.
With that being said, Dinshaw S Irani, CEO of Helios Capital India, told Business Today that the worst may be over for Indian markets, citing further strengthening of the rupee and better-than-expected Q2 FY27 earnings, which could provide further impetus to growth.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "The Q2 FY27 earnings season has been positive, with no major negative surprises. Crude oil prices remained elevated but cooled from their highs. Some bottom fishing has taken place, and investors should follow a 'buy-on-dips' and 'sell-on-rallies' strategy. The US Federal Reserve's decision to maintain the status quo on interest rates has also provided a positive backdrop for the domestic market in the short to medium term."
Ajit Mishra, SVP (Research) at Religare Broking, stated, "Among the key macro factors, the US Fed maintained its benchmark interest rate at 3.75–4 per cent, while its commentary highlighted persistent inflation concerns. Global bond yields, dollar movements and expectations surrounding the future interest-rate trajectory will therefore remain in focus. Meanwhile, Brent crude eased modestly but continued to trade at elevated levels of around $114–115 per barrel amid persistent concerns over potential supply disruptions in West Asia."
Nifty support levels to watch
From a technical standpoint, Mishra believes the 22,500–22,700 zone is likely to act as immediate support for Nifty50, while the broader 22,200–22,400 band remains an important downside reference.
"Traders should use the rebound selectively, avoid aggressive leverage and maintain disciplined risk management. Investors may consider staggered accumulation in fundamentally strong companies at reasonable valuations, while closely monitoring crude oil prices, foreign fund flows and global bond yields," he further said.