Dalal Street built on its turnaround on Tuesday as both the Nifty 50 and BSE Sensex closed at the high of the day, propelled by a 1.5% rally in private banks, double-digit gains in Trent, and a surprise $5-per-barrel price cut by Saudi Aramco on crude shipments to Asia. Despite lingering headwinds from US 10-year bond yields at 5.3%, stabilizing crude oil around $100 and oversold short-covering lifted the Nifty to 22,776.10 ahead of Wednesday’s crucial RBI policy outcome.

Dalal Street halted its longest weekly slump in 25 years on Monday as the Nifty 50 climbed 133.80 points to close at 22,555.75, while the BSE Sensex advanced 472.77 points to 72,382.47. A pullback in international crude prices to $101.41 following the G7’s planned emergency reserve release, combined with an unexpected slowdown in US nonfarm payroll growth, restored risk appetite across banking and non-bank financial leaders despite elevated US Treasury yields and persistent foreign outflows.

A major boardroom battle has surfaced at the Tata Group after the Tata Sons board approved a five-year extension for Executive Chairman N Chandrasekaran and initiated public listing steps over the objections of Tata Trusts Chairman Noel Tata. With the Trusts citing Article 121 to brand the reappointment a legal nullity and conflicting visions emerging over compliance with the RBI’s Core Investment Company framework, India’s largest conglomerate faces a delicate governance and ownership test at Bombay House.

Dalal Street opened October on a negative note as benchmark indices suffered their fourth straight session of declines, locking in an eighth consecutive weekly loss—the longest weekly slump in 25 years. The BSE Sensex plunged to a fresh 52-week low of 71,292.88 before recovering to settle at 71,909.70, while the Nifty 50 closed down 198.50 points at 22,421.95. Unrelenting foreign institutional selling crossing $27.8 billion year-to-date and 24-year-high US Treasury yields at 5.34% continued to pressure equities, with the Nifty Auto index sliding over 4% despite steady delivery data.

Dalal Street closed out a bruising September on Wednesday as an intraday recovery of over 500 points in the Sensex completely unraveled before the close. The Nifty 50 ended down 95.75 points at 22,620.45, capping a monthly decline of 5.67%, while the Sensex finished nearly flat at 72,480.29. Stalled diplomatic progress over the Strait of Hormuz, relentless FII outflows of ₹24,054 crore across four sessions, and 19-year-high US Treasury yields continued to suppress risk appetite despite strong performances from large-cap IT counters.

Dalal Street witnessed a sharp second-half recovery on Tuesday as the Nifty 50 rebounded from an intraday low of 22,569.65 to close down just 64 points at 22,716.20, while the BSE Sensex recovered nearly 500 points to settle at 72,529.07. Aggressive buying by domestic institutions cushioned aggressive FII selling of over ₹5,350 crore, but elevated Brent crude at $107 and a weakening rupee past 96 continue to keep market sentiment cautious.