Stock market news, Oct. 16 -- The Indian equity market closed on a positive note, with the Sensex increasing by 575 points to finish at 82,605, while the Nifty 50 rose by 178 points to end at 25,324. This upward trend was fueled by widespread optimism, attributed to declining crude oil prices, favourable global signals, and expectations of a forthcoming RBI rate cut after inflation dipped to an eight-year low of 1.54%.

Leading the surge were Bajaj Finance, Bajaj Finserv, L&T, Asian Paints, and Nestle India, each climbing by as much as 4%, whereas the IT giants Infosys and Tech Mahindra experienced slight declines following their Q2 earnings reports.

Global sentiment improved as US Treasury yields declined and crude oil prices dropped be...