Nifty Today: Sensex Opens Higher on Softer Crude and Firm Rupee, but Early Gains Fade
Indian markets began the week in positive territory on Monday as cooling oil prices and a stronger rupee lifted sentiment. Anyone checking the Nifty today or the BSE Sensex today on TradingView or any other charting platform would have seen a gap-up start that lost steam as the session progressed.
A firm opening
The Sensex opened about 370 points higher at 72,842.90, while the Nifty 50 gained 107 points to trade at 22,627.50. The start built on Friday’s rebound, when the Sensex closed at 72,472.33, up 1.23%, and the Nifty ended at 22,520.45, up 1.30%.
The Gift Nifty had hinted at this tone before the bell. According to market commentary, the setup looked mildly constructive at the open, backed by positive Gift Nifty cues and relief from softer crude prices. The rupee also opened strongly against the dollar. Lower oil is a welcome trigger for India, which imports most of its crude.
Gains don’t last
The optimism did not hold for long. Business Standard reported that the Nifty and Sensex erased gains from the day’s high as IT, FMCG and bank shares weighed. The today Sensex reading slipped about 600 points from its peak, with the Nifty hovering near 22,500 and PSU banks adding to the pressure.
What is keeping traders cautious
- Foreign investors remain sellers. FIIs offloaded equities worth Rs 3,568.90 crore on October 9.
- Global risks have not gone away. Asian shares stayed volatile as investors braced for the earnings season amid oil swings linked to attacks on shipping and airports in the Gulf.
- The Nifty’s recent recovery is still fresh. It snapped an eight-week losing streak last week, bouncing from the April 2026 low of 22,182.
Earnings in focus
On the results front, HCL Technologies, ICICI Prudential Asset Management Company, RBL Bank and Swaraj Engines report Q2 numbers today. After TCS lifted IT stocks last week, HCL Tech’s results will be watched for the next cue on the sector.
Investments in securities markets are subject to market risk. This report is for information only and is not investment advice.
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