Markets pare losses by noon; Smallcaps surge 2.5% as expiry day turns cautious

Despite the midday recovery, SBI Securities flagged the expiry-day range as tight. The firm placed Nifty’s immediate support at 22,380–22,400, with a break below 22,380 opening the way to 22,210–22,230.  | Photo Credit: istock,com

Benchmark indices clawed back early losses by midday on Tuesday, October 27, 2026, as broader market buying offset persistent weakness in information technology and consumer staples stocks. The BSE Sensex, which had opened at 73,484.38 against its previous close of 73,606.75, recovered to trade at 73,621.88, up 15.13 points or 0.02 per cent at 12.55 pm. The NSE Nifty50, which opened at 22,708.80 after closing at 22,753.20 on Monday, had turned positive to trade at 22,782.65, up 29.45 points or 0.13 per cent at 12.55 pm.

The broader market led the session’s recovery. The Nifty Smallcap 100 Index surged 2.5 per cent, with market breadth on BSE showing 2,945 advances against 1,140 declines out of 4,316 stocks traded. In the futures and options segment, 144 stocks were trading in the green against 68 in the red, and Nifty futures were quoting at a 10-point premium. On the options front, meaningful call writing was seen at the 22,600 and 22,700 strikes, while the 22,500 put held substantial open interest.

Tata Consumer Products was the standout gainer on the Nifty50, surging 5.45 per cent to ₹987.50 from its previous close of ₹936.50 on volumes of over 58 lakh shares. BSE Limited rallied 3.03 per cent to ₹3,460.70 from ₹3,359.00. Auto major Bajaj Auto, which is scheduled to report quarterly earnings today, rose 2.70 per cent to ₹10,343.00 from ₹10,071.00. Bharti Airtel advanced 2.62 per cent to ₹1,967.70 from ₹1,917.50, while Bharat Electronics (BEL) gained 2.34 per cent to ₹371.50 from ₹363.00.

On the losing side, TCS fell 1.44 per cent to ₹2,498.50 from ₹2,535.00, while Hindustan Unilever dropped 1.30 per cent to ₹1,795.00 from ₹1,818.60. Grasim declined 1.29 per cent to ₹2,911.90 from ₹2,950.00. ICICI Bank slipped 1.15 per cent to ₹1,386.90 from ₹1,403.00, and Asian Paints shed 1.05 per cent to ₹2,297.70 from ₹2,322.00. Nifty IT remained the worst-performing sector, while Nifty Media was the session’s best performer. Pharma, healthcare and realty also posted gains of around 1 per cent each.

“Indian equity markets opened on a cautious note with early trade marked by divergent sectoral trends...IT and cement stocks fell more than 1 per cent, while pharmaceuticals, media, healthcare and realty gained around 1 per cent, pointing to selective buying rather than a broad-based market recovery,” said Ponmudi R, CEO of Enrich Money.

Despite the midday recovery, SBI Securities flagged the expiry-day range as tight. The firm placed Nifty’s immediate support at 22,380–22,400, with a break below 22,380 opening the way to 22,210–22,230. Resistance was marked at 22,690–22,710, with a potential extension to 22,860 on a breakout. For the Sensex, support was placed at 72,500 and resistance at 73,400. The Nifty’s advance-decline ratio stood at a cautious 16:34 as of mid-session.

Commodities offered a mixed picture. COMEX gold was trading at around $4,030, down 0.20 per cent, holding near the psychologically significant $4,000 level ahead of the Federal Reserve’s policy decision. COMEX silver fell 1.00 per cent to around $53.80, near its weakest level in 11 months. MCX gold was trading at approximately ₹142,900, down 0.12 per cent, with rupee depreciation cushioning the decline in domestic prices. MCX silver was at ₹194,470, down 0.68 per cent. MCX crude oil declined 1.03 per cent to ₹9,623, while WTI crude slipped 0.30 per cent to around $100.95 a barrel, extending Monday’s decline following diplomatic contacts between Saudi Arabia, Turkey, Pakistan and Iran. The rupee traded at 95.14 against the US dollar, marginally firmer than Monday’s close of 95.19.

“Crude oil prices eased as officials from Saudi Arabia, Pakistan and Turkey agreed to continue security talks with Iranian leaders...however, continued attacks on Saudi targets have limited the decline by sustaining concerns over potential supply disruptions,” Enrich Money’s market update noted.

With NSE’s monthly derivatives expiry concluding through the afternoon and earnings from Bajaj Auto, Cipla, Larsen and Toubro, Maruti Suzuki, SBI Life Insurance and Tata Steel due today, market direction will hinge on how the Nifty handles the 22,690–22,710 resistance zone and any surprises in corporate results.

Published on October 27, 2026