The key equity benchmarks traded with modest gains in early afternoon trade, supported by positive global cues and quarterly business updates, while investors remained focused on the RBI’s upcoming policy decision amid expectations of a 25-basis-point rate hike and sustained domestic institutional buying. The Nifty traded above the 22,650 mark.

Oil & gas shares jumped for the second consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 451.95 points or 0.63% to 72,834.42. The Nifty 50 index gained 130.90 points or 0.58% to 22,686.45.

In the broader market, the Nifty MidCap 150 Index rose 0.66% and the Nifty SmallCap 250 Index added 0.80%.

The market breadth was strong. On the NSE, 2,293 shares rose and 1,116 shares fell. A total of 132 shares were unchanged.

RBI MPC Meeting

The Reserve Bank of India’s (RBI’s) six-member Monetary Policy Committee (MPC) meeting began on 5 October 2026 and will conclude on 7 October 2026. The MPC’s policy decision is scheduled to be announced on 7 October. Investors will closely track the RBI’s stance on key policy rates, as the outcome could have a bearing on market liquidity and investor sentiment.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.78% to 14.07. The Nifty 27 October 2026 futures were trading at 22,767 at a premium of 80.55 points as compared with the spot at 22,686.45.

The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 86.8 lakh contracts at the 23,500 strike price. A maximum put OI of 48.7 lakh contracts was seen at the 22,000 strike price.

Buzzing Index:

The Nifty Oil & Gas index jumped 1.12% to 10,628.30. The index rose 1.46% in the two straight trading sessions.

Reliance Industries (up 2.59%), Petronet LNG (up 2.43%), GAIL (India) (up 2.01%), Hindustan Petroleum Corporation (up 1.88%) and Aegis Logistics (up 1.77%), Chennai Petroleum Corporation (up 0.84%), Adani Total Gas (up 0.83%), Castrol India (up 0.59%), Oil India (up 0.53%) and Indian Oil Corporation (up 0.3%) surged.