The Indian equity market closed higher in the week ended 30 October, with the NSE’s NIFTY50 jumping 453.1 points, or 2%, and the BSE SENSEX soaring 1,335.7 points, or 1.8%. The rally was supported by investor reactions to earnings, movements in crude oil prices and global cues, and was further buoyed by the listing of Jio Platforms on the stock exchanges during the week. The market investors’ sentiment was also boosted from the listing of Jio Platforms on the stock exchanges during the week.

Among sectors, the NIFTY Pharma and NIFTY Media indices emerged as the top gainers during the week, surging 7.1% and 4.3%, respectively. The NIFTY Realty (3.8%), NIFTY Metal (2.7%) and NIFTY Auto (2.3%) were the other top gainers in sectors of the week. However, NIFTY Oil and Gas was the only loser among sectors, falling nearly 1%. The volatility gauge, India VIX, slipped 9.3% over the week to end at the 15.45 level on Friday 30 October.

Over the week, Brent crude surged more than 2% to touch a high of $114.29 per barrel on Friday after beginning at $110.85 per barrel on Monday amid rising concerns over the West Asia conflict. Factors that impacted crude oil prices included US Vice President JD Vance’s letter to Iranian Security Council chief Mohsen Rezaei seeking to revive peace negotiations, and US warnings to West Asian countries to prepare for military escalations after the upcoming US midterm elections, potentially impacting oil supply dynamics via the Strait of Hormuz.

The United States Federal Reserve decided to keep the benchmark interest rates for the US economy unchanged at the range of 3.75% to 4%. The central bank’s decision to keep interest rates on hold comes against the backdrop of elevated uncertainty due to the geopolitical developments in West Asia, despite inflation concerns looming over the American economy.

Jio Platforms made a stellar stock market debut, listing at ₹1,358 apiece on the BSE and NSE, a premium of 21.36% over the issue price of ₹1,119. The listing marks a defining moment for the Reliance Group, putting Jio Platforms in the spotlight as one of India’s most valuable listed businesses. The shares of the telecom and digital services giant listed at ₹1,358 apiece on the BSE and NSE, a premium of 21.36% over the issue price of ₹1,119, giving investors an emphatic start to the company’s life as a listed entity.

Top gainers for the week included Trent Ltd, the Tata Group’s retail company operating Westside and Zudio, which reported a 25% year‑on‑year increase in consolidated net profit to ₹468 crore for the September quarter (Q2 FY27). Adani Ports and SEZ reported a consolidated net profit of ₹3,622 crore on 28 October for the July‑September quarter, a 17% increase from ₹3,109 crore last year, with revenue from operations growing 24% to ₹11,340 crore. Vedanta Power reported a profit before exceptional items of ₹101 crore for the quarter ended 30 September, compared with a loss of ₹142 crore a year earlier.