Indian shares recovered from a weak opening on Monday 26 October 2026, led by pharmaceutical and metal stocks, after four losing sessions last week. Caution over high crude prices and the US Federal Reserve's decision later in the week did not stop the rebound.

The BSE Sensex opened at 72,990.04 (previous close 73,123.83), fell to 72,650.62, then recovered to 73,443.56, up 319.73 points or 0.44 per cent, by 2.31 pm, The Hindu BusinessLine reported. The Nifty 50 opened at 22,524.40, slipped to 22,438.70, then rose to 22,698.85, up 98.85 points or 0.44 per cent at the same time.

Pharma and metals lead the turnaround

Fresh buying and short covering in pharmaceuticals, metals, realty, private banking and oil and gas drove the turnaround. Dr Reddy's was the standout gainer on the Nifty 50, up about 7 per cent, followed by BSE, JSW Steel and Max Health. Enrich Money chief executive Ponmudi R was quoted as crediting fresh buying and short covering in select heavyweights.

Broader market joins in, lenders lag

The broader market joined in: the Nifty Midcap 100 gained 0.42 per cent and the Smallcap 100 rose 0.59 per cent, after last week's falls of 5.6 per cent and more than 7 per cent respectively. Not everything rose: Shriram Finance and Tata Consumer were among the day's notable fallers, and Separate closing-bell coverage reported lenders under pressure, with AU Small Finance Bank down more than 7 per cent — a sign of selective buying rather than broad confidence.

What traders watch next

With the Fed meeting on 27-28 October and more company results due, the rebound may prove a pause in a difficult month rather than a turn. For now, buyers stepped in after early losses, led by sectors less exposed to high energy costs.