| The key equity benchmarks ended with moderate gains on Wednesday as investors remained cautious despite easing crude oil prices from elevated levels and sustained foreign fund inflows. The Nifty began the session on a firm footing and advanced to an intraday high of 25,424.35 in early trade. However, profit booking at higher levels dragged the indices off their day’s highs, with the Nifty eventually settled above the 25,250 mark.
PSU Bank, auto and private bank shares advanced while IT, realty and pharma stocks declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 772.75 points or 0.95% to 81,879.40. The Nifty 50 index rose 210.40 points or 0.84% to 25,255.05.
In the broader market, the Nifty MidCap 150 Index rose 0.84% and the Nifty SmallCap 250 Index added 1.28%.
The market breadth was strong. On the NSE, 2,495 shares rose and 1,166 shares fell. A total of 106 shares were unchanged.
Economy:
Moody’s Ratings raised India’s FY27 GDP growth forecast to 7% from 6.5%, citing resilient domestic consumption, improving investment activity and the economy’s ability to absorb the energy supply shock triggered by the Iran war. The agency said diversified crude oil and natural gas supplies, along with support from state-backed oil marketing companies and tax cuts, had cushioned the impact of higher energy prices. It also pointed to strong capital goods production, rising industrial credit and higher capacity utilisation as signs of a potential recovery in private investment. However, risks include widening price pressures, a deficient monsoon and tighter monetary policy.
Buzzing Index:
The Nifty PSU Bank index jumped 2.95% to 9,167.85. The index jumped 6.79% in the two consecutive trading sessions.
Bank of Baroda (up 5.23%), Punjab National Bank (up 4.41%), Punjab & Sind Bank (up 3.8%), Bank of India (up 3.32%), Canara Bank (up 3.16%), Central Bank of India (up 2.75%), Bank of Maharashtra (up 2.59%), UCO Bank (up 2.56%), Union Bank of India (up 1.83%) and State Bank of India (up 1.75%) surged.
Stocks in Spotlight:
Titagarh Rail Systems jumped 4.03% after the company’s consolidated net profit jumped 49.23% to Rs 63.17 crore in the quarter ended 30th September 2026 compared with Rs 42.33 crore in the corresponding quarter of the previous fiscal year. Revenue from operations registered a marginal decline of 0.81% YoY to Rs 792.56 crore in Q2 FY27.
HEG Advanced Materials rose 0.17%. The company’s subsidiary, TACC received the approval letter for an incentive of Rs 609.50 crore under the Electronics Component Manufacturing Scheme (ECMS).
Artson jumped 1.22% after the company secured a purchase order worth Rs 16.07 crore, excluding GST, from Tata Steel, Jamshedpur. The order covers the supply of two dome and reformer shells. It is an item-rate contract and is scheduled for execution by 6 May 2027.
Global Market:
European equity indices traded higher, supported by gains across global markets and a recovery in technology stocks. However, concerns over rising US inflation and bond yields kept investors cautious.
Most Asian indices ended higher on Wednesday as investors assessed the implications of stronger-than-expected US inflation and rising bond yields. Sentiment remained cautious after US technology stocks fell in the previous session.
US stocks ended lower on Tuesday after hotter-than-expected inflation data strengthened expectations of another Federal Reserve rate increase in December. The Dow Jones Industrial Average declined 157.86 points or 0.30% to 52,231.89. The S&P 500 dropped 29.01 points or 0.38% to 7,520.93, while the Nasdaq Composite fell 187.26 points or 0.74% to 25,065.87.
Technology stocks led the declines, while semiconductor shares remained under pressure amid renewed volatility in the artificial intelligence trade.
Nvidia fell 5.4% amid reports of an internal investigation into suspected chip shipments to China involving its chief executive, Jensen Huang. The stock has declined 9.6% over the past two sessions.
SoftBank Group dropped 3.3% in Japan after reporting a net loss of $7 billion for the second quarter. The loss was partly attributed to substantial investments in US data centre infrastructure.
CoreWeave was in focus in after-hours trading after reporting its third-quarter results. Revenue surged 168% year-on-year to $3.66 billion, while adjusted EBITDA increased to $2.26 billion from $838 million. The company raised its FY26 revenue guidance to $13 billion-$13.3 billion. It also increased its adjusted operating income guidance to $1.275 billion-$1.375 billion.
Another significant AI-related development involved Anthropic. The artificial intelligence company is pursuing a potential public listing that could raise as much as $64.4 billion and value the company at up to $1.4 trillion.
US consumer inflation rose 0.4% month-on-month in October, following a 0.6% increase in September. Core CPI, which excludes food and energy, increased 0.3%, against the market expectation of 0.2%. Higher shelter costs accounted for more than 30% of the monthly increase in headline inflation.
The US Bureau of Labor Statistics could not publish the usual annual inflation rates for October because it had not collected October 2025 survey data during the previous year's government funding lapse. |