| The key equity indices ended with major gains on Tuesday, extending their winning streak to a fourth consecutive session. Easing crude oil prices and continued FII buying supported sentiment. Expectations of a review of long-term capital gains tax also boosted investor confidence.
Finance Minister Nirmala Sitharaman said the government would consider requests to review capital gains taxes on foreign investors. A stronger rupee and value buying in large-cap stocks further supported the rally. Weakness in global AI-linked stocks also aided Indian equities. The Nifty closed above the 23,800 level.
As per provisional closing data, the S&P BSE Sensex jumped 1,225.07 points, or 1.62%, to 76,917.85, while the Nifty 50 rose 370.05 points, or 1.58%, to 23,810.85. In the four consecutive trading sessions, the Sensex gained 5.01%, while the Nifty 50 added 4.47%.
The broader market underperformed the frontline indices. The Nifty MidCap 150 Index advanced 0.84% and the Nifty SmallCap 250 Index added 0.43%.
Market breadth remained positive. On the NSE, 2,503 shares advanced, while 1,900 declined and 203 remained unchanged.
Buzzing Index:
The Nifty FMCG index rose 3.65% to 45,580. The index jumped 2.41% in the two consecutive trading sessions.
Marico (up 10%), Britannia Industries (up 6.36%), Nestle India (up 4.47%), Tata Consumer Products (up 4.29%), Radico Khaitan (up 3.66%), Colgate-Palmolive (India) (up 3.6%), Hindustan Unilever (up 3.4%), ITC (up 2.82%), Varun Beverages (up 2.77%) and United Spirits (up 2.58%) jumped.
New Listing:
Shares of BLS Polymers ended at Rs 269.30 on the BSE, representing a premium of 79.53% as compared with the issue price of Rs 150.
The stock debuted at Rs 244.10 on the BSE, a premium of 62.73% over its issue price. The stock has hit a high of Rs 285.25 and a low of Rs 225. On the BSE, over 77.60 lakh shares of the company were traded in the counter.
Shares of SFC Environmental Technologies ended at Rs 424.85 on the BSE, representing a premium of 28.74% as compared with the issue price of Rs 330.
The stock debuted at Rs 354.05 on the BSE, a premium of 7.29% over its issue price. The stock has hit a high of Rs 424.85 and a low of Rs 354.05. On the BSE, over 17.33 lakh shares of the company were traded in the counter.
Stocks in Spotlight:
Marico rallied 10% after the company’s consolidated net profit jumped 30.95% to Rs 550 crore in Q2 FY27 compared with Rs 420 crore in Q2 FY26. Revenue from operations climbed 12.96% YoY to Rs 3897 crore in the quarter ended 30th September 2026.
State Bank of India fell 1.70%. The company reported a 14.28% year-on-year increase in net profit to Rs 23,038 crore in Q2 FY27 from Rs 20,160 crore in Q2 FY26. Net interest income rose 14.69% year on year to Rs 49,143 crore from Rs 42,847 crore.
KEC International slumped 9.36% after the company reported an 82% year-on-year decline in consolidated profit after tax to Rs 30 crore in Q2 FY27 from Rs 161 crore in Q2 FY26. The company reported a 10% year-on-year decline in consolidated revenue to Rs 5,468 crore from Rs 6,092 crore.
Akums Drug and Pharmaceuticals added 3.82% after the company’s consolidated net profit surged 176.73% to Rs 112.85 crore in Q2 FY27 compared with Rs 40.78 crore in Q2 FY26. Revenue from operations climbed 31.93% YoY to Rs 1342.38 crore in Q2 FY27.
KRBL surged 10.59% after the company reported a 50.44% year-on-year (YoY) jump in consolidated net profit to Rs 258.93 crore in Q2 FY27 compared with Rs 172.11 crore in the corresponding quarter of the previous fiscal year. Revenue from operations climbed 14.31% YoY to Rs 1,727.36 crore in Q2 FY27.
Trident surged 7.11% after the company reported a 93.09% year-on-year increase in consolidated profit after tax to Rs 175.58 crore in Q2 FY27 from Rs 90.93 crore. The company reported a 3.79% year-on-year decline in consolidated revenue from operations to Rs 1,719.48 crore in Q2 FY27 from Rs 1,787.17 crore.
Kitex Garments surged 15.08% after the company reported an adjusted net profit of Rs 16.75 crore in Q2 FY27, compared with an adjusted net loss of Rs 15.13 crore in Q2 FY26. The company reported a 66.29% year-on-year increase in net sales to Rs 203.04 crore in Q2 FY27 from Rs 122.10 crore.
Global Markets:
Dow futures fell 302 points, signalling a weak opening for US stocks.
European shares traded lower on Tuesday as investors mulled over Apple’s quarterly earnings report and awaited U.S. midterm elections.
Australia’s central bank raised its benchmark cash rate by 25 basis points to 4.85% on Tuesday, the highest level since November 2008. The move was in line with broader expectations, and marked its fifth rate increase this year.
Asian equities ended lower, as technology shares remained under pressure amid concerns over the returns from heavy artificial intelligence investments. Japan's cash market remained closed for Culture Day.
Wall Street ended mixed on Monday, 2 November 2026, as weakness in technology shares offset gains across other sectors. The Dow Jones Industrial Average rose 213.67 points, or 0.41%, to 51,983.98. The S&P 500 declined 38.67 points, or 0.51%, to 7,541.40, while the Nasdaq Composite fell 272.68 points, or 1.07%, to 25,164.32.
Technology and semiconductor stocks remained under pressure as investors reassessed the scale and potential returns of AI-related investments. Nvidia fell 1.26%, Microsoft declined 2.83% and Apple lost 1.83%. Oracle also fell more than 8% amid plans to raise $20 billion through share and debt offerings.
Marvell Technology dropped 12.72%, while optical-components maker Lumentum plunged 18.59%. Marvell and Lumentum announced an all-stock agreement under which Marvell will acquire Lumentum in a deal with an implied enterprise value of $115 billion.
Apple reported fiscal fourth-quarter revenue of $114.5 billion, up 12% year on year and above the analyst estimate of $113.4 billion. Net income rose 12% to $30.71 billion, while earnings per share came in at $2.10 against expectations of $1.99. However, the company forecast a gross margin of 45% to 46% for the December quarter, below the 47.9% reported in the September quarter. Apple shares fell 1.83% during regular trading and declined further during the earnings call.
US manufacturing activity expanded at a faster pace in October. The Institute for Supply Management's manufacturing PMI rose to 55.5 from 54.5 in September, beating the market forecast of 54.5. The reading marked the 10th consecutive month of expansion in the manufacturing sector.
The US midterm elections on Tuesday are another focus for investors. The outcome could influence expectations for fiscal policy, government spending and regulation of the technology sector. |