Mumbai Stocks: Nifty 50 and Sensex Daily — 2026-10-31
Nifty 50 reclaimed the 23,000 mark as Foreign Institutional Investors (FIIs) snapped a nine-week selling streak, turning net buyers with ₹6,304 crore in equity purchases. The rally was driven by strong IT and Pharma performances, despite persistent volatility from high crude oil prices and mixed global cues.
Mumbai Stocks: Nifty 50 and Sensex Daily — 2026-10-31
Top developments
FIIs Break Nine-Week Selling Streak
Foreign Institutional Investors (FIIs) turned net buyers for the first time in nine weeks, purchasing equity worth ₹6,304.67 crore during the week ending October 30, 2026. This shift in sentiment helped the Nifty 50 reclaim the psychological 23,000 level, with the index gaining 1.9% for the month of October. The return of foreign capital was a key driver for the Sensex, which gained 308 points on Friday, October 30, to close higher for the second consecutive session.
IT and Pharma Lead Sectoral Gains
The IT index surged 2.5% and the Pharma index rose 1.7% on October 30, driving the broader market rally. This sectoral strength was supported by earnings-driven demand in specific stocks like Trent, which led the gainers. However, the rally was narrow, as midcap and smallcap indices underperformed, with the Nifty Midcap and Smallcap indices falling 0.4% and 1.6% respectively on the same day.
Jio Platforms IPO Frenzy and Primary Market Boom
The recent listing of Jio Platforms, which debuted at a 21.36% premium, contributed significantly to the market's momentum and highlighted the strength of the primary market. India’s primary market raised a record ₹1.68 lakh crore in September 2026, with IPOs continuing to absorb significant domestic liquidity even as secondary market indices faced volatility. This "IPO frenzy" has been cited as a key factor in the Nifty's 6-month high in October.
Local view
Hindi-language media highlighted the disconnect between the index rally and investor wealth. Moneycontrol Hindi reported that despite the Sensex gaining 308 points on October 30, investors still lost ₹4 lakh crore in wealth over the week due to earlier losses. Business Standard Hindi noted that while the market saw "four-way speed" (broad-based gains) on October 29 with the Sensex up 900 points, the subsequent days saw a more selective rally driven primarily by IT and Pharma.
Context & numbers
- SIP Records: Monthly SIP contributions in India reached an all-time high of ₹32,490 crore in September 2026, marking an 11% year-on-year growth.
- FII Data: On October 29, FIIs were net sellers of ₹943.60 crore in the cash segment, but the weekly net figure for the week ending October 30 was positive at ₹6,304.67 crore.
- Regulatory Change: Starting November 1, 2026, Direct Plans will become the default option on AMC digital platforms, a move aimed at reducing costs for retail investors.
On the radar
- Crude Oil Prices: Brent crude remains elevated, hovering around $115-$116, keeping volatility high and weighing on energy-sensitive sectors.
- November Outlook: Market analysts suggest that persistent inflation concerns and global cues will dictate the Nifty's trajectory in the coming days, with the 23,000 level acting as key support.
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