Share Markets Rise Ahead of Reserve Bank Policy Meeting

Indian stock market indices rose sharply for the second day in a row on Tuesday, October 6, 2026, driven by falling crude oil prices and buying in bank stocks and Reliance Industries. The 30-share BSE Sensex jumped 685.34 points, or 0.95 percent, to settle at 73,067.81. The 50-share NSE Nifty climbed 220.35 points, or 0.98 percent, to end at 22,776.10. According to The Hindu, Trent surged the most among Sensex firms with a 12.78 percent gain, alongside winners like Kotak Mahindra Bank, Hindustan Unilever, Reliance Industries, InterGlobe Aviation, Eternal, and Asian Paints. Meanwhile, Tech Mahindra, Titan, Bajaj Finance, and ITC ended as laggards. Global oil benchmark Brent crude tanked 1.70 percent to $98.59 per barrel, falling below the $100 mark and easing macroeconomic pressure. Ponmudi R, CEO of Enrich Money, noted that this decline helped investor sentiment. The market gains also preceded the Reserve Bank of India monetary policy meeting outcome due on October 7, where analysts discussed the possibility of a 25-basis-point repo rate hike. On the options front, weekly data showed the maximum Call open interest at the 23,000 strike with 55.14 lakh contracts, acting as a short-term resistance. The 22,700 strike held the maximum Put open interest with 51.21 lakh contracts, serving as a key support level. The Nifty Put-Call ratio rose to 1.06 from 0.94, pointing to firming bullish sentiment. The fear gauge India VIX fell 7.9 percent to 13.6. Additionally, Foreign Institutional Investors offloaded equities worth ₹4,699.14 crore on Monday, and Ambuja Cements, Bandhan Bank, and SAIL remained retained under the futures and options ban segment.

Context

Stock markets often react strongly to crude oil price movements because India imports a large share of its oil, affecting inflation and the national economy. Key financial benchmarks like the Sensex and Nifty reflect the overall health and daily trading direction of the country's top publicly listed companies.