Wednesday, 7 October 2026. This is what happened in the market today, taken from exchange data and news reports. It is a record of the session, not a view on where the market goes next: I don't publish levels, targets or trade ideas.
The Reserve Bank of India raised the repo rate by 25 basis points to 5.50%, its first increase since February 2023, and the Nifty fell 0.76% to 22,603.05. That ended two days of gains. Titan was the biggest faller in the index after its quarterly update, and the metal index lost 2.33%. Kotak Mahindra Bank and ICICI Bank were among the few large stocks to rise.
Today's numbers
| Market | Close | Change |
|---|---|---|
| Nifty 50 | 22,603.05 | −173.05 pts (−0.76%) |
| Sensex | 72,638.70 | −429.11 pts (−0.59%) |
| Bank Nifty | 55,055.55 | −72.85 pts (−0.13%) |
| Nifty Midcap 100 | 59,382.60 | −378.60 pts (−0.63%) |
| Nifty Smallcap 100 | 19,506.95 | +58.25 pts (+0.30%) |
| India VIX | 13.89 | +0.28 (+2.06%) |
How the day went
The Nifty opened at 22,690.45, which was 85.65 points below Tuesday's close of 22,776.10, and closed the first 15 minutes at 22,624.00. In the 10:15 to 10:30 AM candle it rose from 22,613.15 to 22,697.90. Its high for the day, 22,717.65, came in the 12:00 to 12:15 PM candle. That high was still 58.45 points below Tuesday's close, so the index traded below the previous close all day.
The index slipped through the early afternoon. In the 1:00 to 1:15 PM candle it touched 22,552.60 and closed at 22,578.00, and the day's low of 22,546.30 came in the 2:00 to 2:15 PM candle. It then rose to 22,639.85 by 2:30 PM and closed at 22,603.05, 56.75 points above the low. The day's range was 171.35 points.
The Sensex opened at 72,965.38, traded between 72,468.72 and 73,018.82, and closed at 72,638.70. At its low it was 599.09 points below Tuesday's close. Bank Nifty traded between 54,636.20 and 55,340.70 and ended 0.13% lower, a smaller fall than the Nifty's.
India VIX rose 2.06% to 13.89 after touching 14.32. (What India VIX measures.)
The Smallcap 100 was the only index in the table above to rise. HDFC Sky counted 1,928 shares rising on the NSE against 2,251 falling, with 192 unchanged.
The RBI raised the repo rate
The Monetary Policy Committee voted unanimously to raise the repo rate from 5.25% to 5.50%, Business Today reported. The standing deposit facility rate is now 5.25%, and the marginal standing facility rate and the bank rate are 5.75%. The committee also changed its stance from neutral to calibrated tightening, by a 4-2 vote. Business Today quoted the Governor saying a rate cut was unlikely in the near term and that any policy action from here could only be a hike or a pause.
The rate had been cut by a total of 125 basis points in 2025, from 6.5% to 5.25%, and held there for four meetings before today.
According to Forbes India, the RBI raised its growth forecast for FY27 to 7.1% from 6.7%, and its inflation forecast to 5.2% from 5%. Consumer inflation was 4.8% in August, up from 4.5% in July.
Rupee, crude and Asia
PTI, as published by DT Next, reported that the rupee fell 43 paise to 96.78 against the dollar and that Brent crude rose 1.41% to $102 a barrel. The same report said South Korea's Kospi, Japan's Nikkei 225 and Hong Kong's Hang Seng all ended lower, while US markets had closed higher on Tuesday.
Sectors: metals down most, PSU banks up
| Nifty index | Close | Change |
|---|---|---|
| PSU Bank | 8,088.70 | +1.00% |
| Media | 1,578.50 | +0.69% |
| Financial Services | 24,916.40 | −0.12% |
| Pharma | 26,436.55 | −0.43% |
| Energy | 36,683.45 | −0.63% |
| FMCG | 44,800.85 | −0.89% |
| IT | 27,757.80 | −1.34% |
| Auto | 25,138.90 | −1.58% |
| Realty | 822.60 | −1.77% |
| Metal | 12,306.70 | −2.33% |
HDFC Sky reported that metal shares fell as weaker global metal prices followed a stronger dollar. It also reported that banks cut their early losses during the day. In IT, Infosys fell 2.16% to ₹992 and TCS 0.94% to ₹2,080.30, the day before TCS reports its September-quarter results.
Biggest Nifty 50 movers
| Rose | Close | Change |
|---|---|---|
| Kotak Mahindra Bank | ₹440.00 | +1.88% |
| BSE | ₹3,356.00 | +1.54% |
| Bharti Airtel | ₹1,833.90 | +1.29% |
| ICICI Bank | ₹1,357.50 | +1.09% |
| Coal India | ₹414.50 | +0.69% |
| Fell | Close | Change |
|---|---|---|
| Titan | ₹4,377.00 | −3.80% |
| Adani Enterprises | ₹2,743.00 | −3.75% |
| Hindalco | ₹910.85 | −3.15% |
| JSW Steel | ₹1,230.00 | −2.35% |
| Bharat Electronics | ₹378.30 | −2.35% |
These are official closing prices. Only nine Nifty 50 stocks closed higher. Asian Paints, just outside the table, fell 2.15% to ₹2,372.10. HDFC Bank fell 1.22% to ₹702.75 and SBI 0.50% to ₹954. I haven't found a reported reason for the moves in Bharti Airtel, BSE or Bharat Electronics.
Titan's quarterly update
Titan posted its September-quarter business update on Tuesday. Kotak Neo reported that its consumer businesses grew about 25% from a year earlier. Jewellery grew about 21%, watches about 30% and eyecare about 28%, and CaratLane grew 32%. The company added 78 stores on a net basis, taking its network to 3,758, including 42 jewellery stores for a total of 1,269.
Upstox reported that the jewellery growth was below what analysts had expected. Plain gold jewellery grew about 20% and studded jewellery in the early thirties, and the reasons given were festive buying moving into the December quarter, high gold prices and lower sales of gold coins. The stock fell as far as ₹4,335.60, down 4.71% from Tuesday's close of ₹4,550, before closing at ₹4,377.
FII and DII flows
For Tuesday, 6 October, 5paisa now shows foreign institutions as net sellers of ₹2,961.30 crore in the cash market (gross purchases ₹11,258.70 crore, sales ₹14,220.00 crore). Domestic institutions were net buyers of ₹5,088.90 crore. PTI reported the same foreign figure.
For today, Trendlyne shows provisional figures of ₹6,121.37 crore of net selling by foreign institutions and ₹4,596.57 crore of net buying by domestic institutions. At about 7 PM that was the only site I checked with today's figures: 5paisa hadn't updated and NSE's page did not load. I'll check them against a second source in tomorrow's pre-market report.
Tomorrow and this week
- Thursday, 8 October: TCS board meeting on September-quarter results and a second interim dividend, record date 14 October. Vedanta's board meets to consider its first dividend for the year.
- Tuesday, 20 October: NSE trading holiday.
What I'll check before tomorrow's open
These are the data points I'll look at, not a forecast:
- Today's FII and DII figures, on NSE and a second data site.
- Where GIFT Nifty trades compared with the Nifty's close of 22,603.05.
- The rupee's opening level after today's 96.78 close, and Brent crude.
Earlier reports: 6 October post-market report, 7 October pre-market report. Why stock closes differ from the last traded price: the closing auction guide.
Sources
- Index, sector and stock prices, intraday path and India VIX: Zerodha Kite market data (NSE and BSE)
- RBI decision, rates, stance and vote: Business Today
- RBI growth and inflation forecasts: Forbes India
- Rupee, crude, Asian markets, 6 October FII figure: DT Next (PTI)
- Metals, banks and breadth: HDFC Sky
- Titan update: Kotak Neo, Upstox
- FII and DII flows: 5paisa, Trendlyne
- Calendar: TCS intimation, Kotak Neo on Vedanta, NSE holiday list
This note summarises public news and data for information only. It is not investment advice or a recommendation to buy or sell any security. I am not registered with SEBI as an investment adviser or research analyst.