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Markets trade firm in early deals as crude oil prices fall
Oct-05-2026

Indian equity benchmarks made an optimistic start on Monday and soon extended their gains amid easing concerns over aggressive US monetary tightening and a pullback in oil prices. Crude oil prices fell as higher Middle East exports and coordinated stock releases by Group of Seven nations eased near-term supply concerns.

Sensex and Nifty were trading firm with notable gains of around a percent each in early deals on account value buying in IT and Financial stocks. Some optimism came as Prime Minister's Principal Secretary-2 Shaktikanta Das said that the Indian economy is within striking distance of 8% growth, driven by broad-based reforms such as GST, flexible inflation targeting, banking reforms and commitment to fiscal prudence.

On the global front, Asian markets were trading mostly higher as softer-than-expected US jobs data reduced expectations of another Federal Reserve rate hike this month. U.S. nonfarm payrolls rose by just 29,000 in September, falling far short of market expectations. Meanwhile, markets in China and South Korea were closed on account of holiday.

The BSE Sensex is currently trading at 72607.76, up by 698.06 points or 0.97% after trading in a range of 72171.93 and 72611.17. There were 23 stocks advancing against 7 stocks declining on the index.

The top gaining sectoral indices on the BSE were Bankex up by 1.35%, IT up by 1.28%, Energy up by 1.21%, Oil & Gas up by 1.09% and TECK up by 1.08%, while Healthcare down by 0.66% and Auto down by 0.19% were the only losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 3.81%, TCS up by 1.89%, ITC up by 1.56%, Reliance Industries up by 1.36% and Axis Bank up by 1.35%. On the flip side, Bharat Electronics down by 1.19%, Sun Pharma down by 0.83%, Asian Paints down by 0.77%, HCL Technologies down by 0.60% and Tata Steel down by 0.45% were the top losers.

Meanwhile, the Finance Ministry, in its September edition of the Monthly Economic Review, said the Indian economy is estimated to have grown by 7.3 per cent in the September quarter (Q2) of the current fiscal year (FY27), though at a slower pace than the 7.8 per cent growth recorded in the June quarter. It noted that the economy began FY27 on a firm footing, even as the global environment grew more uncertain. 

It said the conflict in West Asia disrupted energy markets and trade routes, testing economies across the world. India’s real GDP grew by 7.8 per cent in the first quarter, the highest first-quarter growth in the current series. It added that the growth momentum of the June quarter extended into the second quarter of FY27, though at a more measured pace. E-way bill generation and the manufacturing PMI have grown more slowly, while services activity firmed up in August, driven by stronger new business and employment. Electricity and fuel consumption continue to register healthy growth, while bank credit has sustained its strong expansion. Production of capital goods and infrastructure goods points to continued strength in the investment cycle. Automobile sales have grown at a healthy pace across rural and urban markets, underscoring the breadth of consumption.

The report said most high-frequency indicators pointed to continued economic activity in the early part of Q2. The recent sovereign rating upgrade underscores the strengthening of India’s economic fundamentals, with Japan Credit Rating Agency raising India’s rating from BBB+ to A- in September 2026. Monsoon conditions have been more favourable than earlier anticipated, with kharif sowing close to last year’s levels across several crops. This supports the outlook for agricultural output and rural demand, although rabi prospects will require monitoring.

Nevertheless, external risks persist, with renewed geopolitical tensions and the growing weaponisation of supply chains keeping energy prices volatile, tightening global financial conditions and disrupting trade routes. Sustaining growth will therefore require preserving macroeconomic stability and strengthening economic resilience. Overall, industrial activity remained resilient, supported by strong manufacturing GVA growth, continued expansion in industrial production and strengthening bank credit to industry. The report added “Going forward, sustaining industrial momentum while increasing scale, domestic value addition, supply-chain depth and export competitiveness will remain important for broadening the manufacturing base.”

The CNX Nifty is currently trading at 22610.25, up by 188.30 points or 0.84% after trading in a range of 22506.35 and 22615.55. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Bajaj Finance up by 4.59%, TCS up by 2.47%, Shriram Finance up by 2.41%, Coal India up by 2.09% and ITC up by 1.80%. On the flip side, Apollo Hospital down by 1.99%, Max Healthcare down by 1.67%, Cipla down by 1.35%, Bharat Electronics down by 0.72% and Bajaj Auto down by 0.68% were the top losers.

Asian markets were trading mostly higher; Nikkei 225 surged 1603.54 points or 2.35% to 69,913.00, Taiwan Weighted jumped 1132.93 points or 2.34% to 49,608.67 and Straits Times rose 2.34 points or 0.04% to 5,637.16. On the other hand, Hang Seng declined 68.29 points or 0.29% to 23,904.00 and Jakarta Composite was down by 10.94 points or 0.18% to 6,025.95.
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