Sensex Opens 299 Points Higher But Falls 400 Points Within An Hour, Softer Oil Lifts Nifty Above 22,590

Mumbai: Indian equity markets opened higher on October 12, supported by positive Asian cues and softer crude oil prices. Buying across most sectors lifted benchmarks, although analysts cautioned that foreign investor selling and elevated global bond yields remained challenges.

The Sensex opened at 72,771.32, gaining 298.99 points, or 0.41 per cent, but could not hold the gain for long. At 10.00 AM, the Sensex was around 72,390, falling 400 points. The Nifty started at 22,593.20, up 72.75 points, or 0.32 per cent.

Sectoral Gains Support Market Opening

Media, automobile and chemicals stocks led early buying, with their sectoral indices rising up to 1 per cent.

Realty, oil and gas, cement, metals and IT indices advanced between 0.64 per cent and 0.81 per cent. Other sectors posted smaller gains, while Nifty PSU Bank edged down 0.01 per cent.

The broadly positive opening followed Friday’s recovery, but market experts said overseas pressures continued to outweigh supportive domestic factors.

Crude Oil And Foreign Flows In Focus

Analysts expect high crude prices and US bond yields to keep influencing Indian equities. Foreign institutional investors could continue selling, with domestic institutional investors absorbing those outflows.

Oil eased on expectations of additional Russian supplies following an agreement to stop attacks on energy facilities.

Experts said a sharper decline in crude, supported by favourable developments in West Asia, could create conditions for a stronger market rally.

Asian investors also remained cautious ahead of corporate earnings that could test elevated technology valuations.

Growth Outlook Offers Domestic Support

Market experts cited an FY27 GDP growth estimate of 7.1 per cent and improving corporate profitability as fundamental support.

They said fairly valued growth companies could offer opportunities for investors with medium-to-long-term horizons, while emphasising patience amid uncertainty and volatility.

Nifty Technical Levels To Watch

An analyst said Friday’s rebound and inside-bar formation opened the possibility of a move towards 22,800–23,200.

However, failure to close above 22,575 would leave the market under bearish pressure.

The analyst identified 22,295, Friday’s reaction low, as the downside level to monitor during the session.