Nifty hits 22,781, IT and auto sectors lead gains

Mumbai, October 15 — The NSE Nifty 50 reached a session high of 22,780.85, advancing 158.15 points (0.69 percent) from its previous close of 22,622.70. The index’s rise was powered by strong performances in information technology, fast‑moving consumer goods and automobile stocks, each posting close to 2 percent gains.

These sectoral leaders lifted the broader market even as broader global cues remained cautious. The BSE Sensex opened at 72,965.80, up 183.91 points (0.25 percent), and later climbed to 73,351.44, adding 569.55 points for the day.

Meanwhile, the Nifty Small‑Cap 100 slipped 0.60 percent and the Nifty Mid‑Cap 100 fell 0.12 percent in early trading, reflecting a modest divergence between large‑cap optimism and smaller‑cap caution.

Metal stocks were the biggest drags on the market, dropping around 1 percent. PSU bank, consumer durables, pharmaceutical and healthcare indices also traded in the red.

The backdrop to the rally was the latest U.S. inflation report, which showed September CPI rising to 3.7 percent, well above the 3.4 percent seen in August. The figure re‑energised expectations of another Federal Reserve rate hike in October, prompting a sell‑off in U.S. tech‑heavy indices and a spill‑over into Asian markets.

On the investor flow side, foreign institutional investors (FIIs) were net sellers, disposing of roughly 1,857 crore rupees of Indian equities on Wednesday. Domestic institutional investors (DIIs) countered with a net purchase of about 2,670 crore rupees, providing a supportive cushion.

From a technical standpoint, the Nifty formed a bearish candle, yet its Relative Strength Index settled at 41.66, well above the longer‑term average of 32.01, indicating a possible short‑term recovery.

Crude oil prices fell close to 2 percent, as markets assessed supply‑risk concerns stemming from Houthi activity in the Bab al‑Mandab Strait and the potential impact of U.S. initiatives aimed at lowering shipping costs.