Mumbai, October 6, 2026: Indian stock markets traded higher on Tuesday, supported by gains in banking shares and a sharp rise in Trent, while investors remained cautious ahead of the Reserve Bank of India’s monetary policy decision due on Wednesday. The Nifty 50 rose about 0.35% to 22,635.70, while the BSE Sensex gained around 0.34% to 72,630.42.
Banking Stocks Support the Market
Financial stocks were among the strongest performers during the session.
Axis Bank and Kotak Mahindra Bank advanced after reporting encouraging quarterly updates, helping lift sentiment across the banking sector. Thirteen of the 16 major sectoral indices were trading higher.
Trent Shares Surge 10%
Tata Group retailer Trent emerged as one of the biggest movers of the day, with its shares jumping around 10%.
The rally followed the company’s update indicating a 23% year-on-year increase in standalone revenue for the second quarter.
Godrej Consumer Also Gains
Godrej Consumer Products shares rose about 2% after the company gave an encouraging outlook on revenue growth.
The positive corporate updates helped offset some of the pressure coming from global bond markets.
RBI Policy Decision in Focus
Investor attention is now firmly on the Reserve Bank of India.
The RBI’s monetary policy decision is scheduled for October 7, with markets widely expecting a possible 25 basis point increase in the repo rate amid inflation concerns.
Lower Oil Prices Improve Sentiment
Brent crude prices hovered near $101 per barrel, with higher Middle East exports and efforts by G7 countries to boost supply helping ease some concerns around energy prices.
Lower crude prices are generally positive for India because the country imports a large portion of its oil requirements.
Global Bond Yields Limit Gains
Despite the positive start, gains in Indian equities remained limited as US Treasury yields climbed to fresh multi-decade highs.
Persistent concerns over global inflation and higher borrowing costs continue to create uncertainty for equity markets.
Markets Recover After Recent Weakness
Monday’s session had already seen Indian benchmark indices rise about 0.6%, breaking a prolonged period of weakness.
Tuesday’s gains extended that recovery, although traders remain cautious ahead of the RBI announcement and upcoming corporate earnings.
TCS Earnings Also on Investors’ Radar
Along with the RBI decision, investors are closely watching upcoming earnings from Tata Consultancy Services (TCS).
The results could provide fresh direction to the broader market, particularly the IT sector.
Source – Reuters
Supreme News Network
