Indian Market Live Update at 10:00 AM IST

Sensex Jumps 490 Points as RBI MPC Meeting Begins; HDFC Bank in Focus

Direct answer

Indian equity benchmarks, the Sensex and Nifty, opened significantly higher on Monday, extending gains from positive global cues and easing fears of aggressive US monetary tightening. The market's attention is sharply focused on the Reserve Bank of India's Monetary Policy Committee (MPC) meeting, which commenced today, with expectations of a potential repo rate hike. Meanwhile, HDFC Bank is in the spotlight following the RBI's approval of Anup Bagchi as its new CEO and the release of robust Q2 business updates.

Key highlights

• Nifty 50: Opened over 100 points higher at 22,532.40, signalling a firm start to the trading week.
• Sensex: Jumped 490 points to 72,399.93 in early trade, driven by broad-based buying.
• HDFC Bank: Shares rose 1% to ₹728.3 after the RBI cleared Anup Bagchi as the next CEO and the bank reported 18.8% YoY deposit growth in Q2 FY27.
• RBI MPC Meeting: The Monetary Policy Committee meeting began today, October 5, with market participants anticipating a potential 25 basis points repo rate hike.
• Crude Oil: Brent crude prices eased slightly to around $101.57 per barrel, contributing to positive market sentiment.

RBI MPC Meeting Commences: Rate Hike Expectations Loom

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) began its three-day meeting today, October 5, 2026, with the policy decision slated for October 7. Market participants are closely watching for signals on interest rates, inflation, and economic growth, with a significant number of economists anticipating a 25 basis points (bps) increase in the repo rate. This would mark the first repo rate hike since February 2023, following a period of policy stability.

Expectations for monetary tightening have intensified due to persistent inflationary pressures, with retail inflation remaining above the RBI's medium-term target of 4% for the third consecutive month. Elevated energy costs, particularly crude oil prices, and a weakening rupee have further fueled these expectations. The current repo rate stands at 5.25%. A 25 bps hike would push it to 5.50%. While some analysts believe a hike is necessary to manage inflation, others suggest a pause might be warranted given the strong macro case for it. The Governor's commentary on future liquidity measures and forward guidance will be crucial for market direction.

HDFC Bank in Spotlight: New CEO, Strong Q2 Business Update

HDFC Bank shares are in focus today after the Reserve Bank of India (RBI) approved the appointment of Anup Bagchi as the bank's next Chief Executive Officer and Managing Director for a three-year term, effective October 27. Bagchi, an ICICI Bank veteran, is the first external candidate to lead HDFC Bank, and analysts believe his appointment removes a key overhang on the stock, potentially supporting a re-rating.

Concurrently, HDFC Bank released its provisional business updates for the second quarter of FY27 (September quarter), showcasing robust growth. The bank's total deposits grew approximately 18.8% year-on-year to ₹33.28 lakh crore as of September 30, 2026, outpacing the 16.3% growth in gross advances, which stood at ₹32.20 lakh crore. Time deposits saw a significant increase of 22.8% year-on-year, while CASA deposits grew by 10.8%. The bank also successfully mobilised $11.5 billion in foreign currency deposits under the RBI's FCNR(B) swap facility. This strong liability gathering indicates a deliberate effort to manage the bank's credit-to-deposit ratio post-merger and is seen positively by the market.

More stocks and market news

Indian Markets Open Higher as Global Cues Improve; Crude Oil Eases

Indian equity markets commenced the week on a positive note, with both the Nifty 50 and BSE Sensex 30 opening higher. The Nifty gained over 100 points, opening at 22,532.40, while the Sensex jumped 490 points to 72,399.93 in early trade. This rebound follows a prolonged period of weakness and is largely attributed to positive global cues, including easing fears of aggressive US monetary tightening after weaker-than-expected US jobs data. Further supporting sentiment, Brent crude oil prices eased, trading around $101.57 per barrel, reducing concerns over India's import bill and inflation.

IT Sector Sees Mixed Signals: Accenture Boosts Sentiment Amid Muted Q2 Outlook

The Indian IT sector is experiencing mixed signals this morning. The Nifty IT index advanced approximately 1.5% after IT services giant Accenture reported stronger-than-expected annual revenue growth and robust new bookings for its fourth quarter (ended August). This positive forecast has lifted sentiment, easing concerns about AI-driven disruption. However, reports also suggest a muted performance for the Indian IT services sector in Q2 FY27, with clients remaining cautious on AI adoption and longer decision-making timelines impacting near-term growth. TCS is set to kick off the earnings season for the sector on October 8.

SEBI's "Project Jagrook" Begins: Investor Awareness Messages Mandatory for Brokers

The Securities and Exchange Board of India (SEBI) has initiated "Project Jagrook," directing stock brokers to display investor awareness messages on their websites and trading applications. Starting today, October 5, 2026, and until October 31, brokers must voluntarily display these messages alongside existing risk disclosures on their websites, with app display being optional. From November 1, 2026, the display of these messages will become mandatory on the landing pages of broker websites and on alternate days for trading applications. This move aims to enhance investor education and risk communication across digital trading platforms.

Market context

Indian markets opened higher, with the Sensex up 0.68% at 72,399.93 and the Nifty 50 gaining 0.45% to 22,532.40 as of 10:00 AM IST. The Nifty Bank index also saw gains, reflecting positive sentiment in financial stocks. Global markets were largely positive, with Asian markets trading higher following a strong close on Wall Street. Brent crude oil prices were trading around $101.57 per barrel, down slightly. The Indian rupee opened stronger against the US dollar at 96.22.

Why these stories matter

The commencement of the RBI MPC meeting is a critical macro event, as any decision on the repo rate will directly influence borrowing costs, inflation trajectory, and overall economic growth, impacting all sectors. HDFC Bank's leadership transition and strong Q2 business updates are significant for the banking sector, given its heavyweight status, and could set a positive tone for other financial results. The positive opening of Indian markets, driven by global cues and easing crude prices, provides a much-needed boost after recent volatility. The mixed outlook for the IT sector, balancing Accenture's positive forecast with domestic Q2 concerns, highlights the evolving landscape of technology spending and AI adoption. Finally, SEBI's new mandate for investor awareness underscores the regulator's focus on investor protection and education in a dynamic market environment.

What to watch next

• RBI MPC Outcome: The market awaits the RBI's monetary policy decision on October 7, including any repo rate changes and forward guidance.
• Q2 Earnings Season: Tata Consultancy Services (TCS) will announce its Q2 FY27 results on October 8, kicking off the earnings season for the IT sector.
• Global Crude Oil Prices: Continued monitoring of geopolitical developments and their impact on international crude oil prices.
• FII Flows: Foreign Institutional Investor (FII) activity will remain a key determinant of market direction.

Sources

• Times Now: Stock Market Today (October 5): Sensex, Nifty Open Higher; Investors Eye Lower Oil Prices, Experts See Stock-Specific Rally
• NDTV Profit: Anup Bagchi's Appointment Removes Key Overhang For HDFC Bank Stock, Supports Re-Rating, Say Brokerages
• Sahi: HDFC Bank Q2 Advances Rise 16.3% To ₹32.20 Lakh Crore, Deposits Up 18.8%
• Mint: RBI MPC Meeting October 2026: Repo rate hike soon? Date, announcement time, members, monetary policy review expectations
• Sansa Kanoon Pranali Partners: SEBI Requires Investor Awareness Messages on Broker Websites and Trading Apps From November 1

FAQ

1. What is the current status of the Indian stock market today?

The Indian stock market opened higher on Monday, October 5, 2026, with the Sensex gaining 490 points and the Nifty 50 rising over 100 points in early trade. This positive momentum was influenced by favourable global cues and a slight easing of crude oil prices.

2. Why are HDFC Bank shares in focus today?

HDFC Bank shares are in focus due to two main reasons: the RBI's approval of Anup Bagchi as the bank's new CEO, which is seen as a positive development, and the release of strong Q2 FY27 business updates showing significant growth in deposits (18.8% YoY) and advances (16.3% YoY).

3. What is expected from the RBI MPC meeting this week?

The RBI Monetary Policy Committee meeting began today, October 5, 2026, and will conclude on October 7. Market participants widely anticipate a potential 25 basis points repo rate hike, driven by persistent inflation and elevated crude oil prices.

4. How is the IT sector performing today?

The IT sector is seeing mixed signals. The Nifty IT index rose by approximately 1.5% following Accenture's positive revenue growth forecast. However, the broader Indian IT services sector is still expected to report a muted Q2 FY27 performance due to cautious client spending and longer decision-making cycles.

5. What is "Project Jagrook" by SEBI?

"Project Jagrook" is a SEBI initiative that mandates stock brokers to display investor awareness messages on their websites and trading applications. This measure, starting voluntarily today and becoming mandatory from November 1, 2026, aims to enhance investor education and risk communication.

Disclaimer: This article is for educational purposes only. It does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.