Nifty gains 2.77% before earnings and Jio IPO focus

India’s NSE Nifty advanced 625.7 points, or 2.77%, in the previous week, while the BSE Sensex rose 2,256.94 points, or 3.11%, Times Now News reported Oct. 18.

The rally leaves quarterly earnings, crude oil, the proposed Jio Platforms IPO and foreign flows in focus for a holiday-shortened week. FIIs sold 54,636 crore rupees through October 16, higher than September’s total, Times Now News said. That equals about $5.75 billion at 95 rupees per dollar, according to Atlas360 calculations.

Foreign institutional investors, or overseas funds active in Indian securities, had shifted from heavy selling to marginal buying on Oct. 16, Dr. V K Vijayakumar, chief investment strategist at Geojit Investments Limited, said.

“FIIs continued their selling spree in October with total selling of Rs 54636 crores through 16th October,” Vijayakumar said. “This brief change in the FII stance is likely to be more tactical than structural."

Vijayakumar linked the temporary change to two market variables. “The marginal decline in the US 10-year yield from above 5.3% to 5.08% and the strengthening of the rupee against the dollar to below 95 are the significant factors responsible for the temporary change in FII stance.”

The sector picture was mixed. Vijayakumar said FIIs continued to sell financials and oil sectors, while buying consumer services including digital platform companies, entertainment, restaurants and healthcare services.

The primary market is also in focus. Times Now News reported that two mainboard IPOs are scheduled to open for subscription during the holiday-shortened week, while investor attention is expected to stay on a potential Jio Platforms listing.

The report did not provide subscription dates, offer terms or a timetable for any Jio Platforms IPO. It also said investors would track West Asia developments and rupee-dollar moves for market cues.

Source: news article, Times Now News, Oct. 18, 2026