Sensex, Nifty trade higher; bank shares surge

The domestic equity indices traded with substantial gains in mid-afternoon trade, sustaining upward momentum after the central bank recently lowered its FY26 inflation forecast and raised its GDP growth projection. Investors will monitor the quarterly business updates, IPOs activity and upcoming quarterly earnings season. The Nifty traded above 25,050 mark.

Nifty Bank witnessed buying demand for fifth consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex advanced 562.07 points or 0.69% to 81,765.38. The Nifty 50 index added 167.55 points or 0.67% to 25,061.80.

In the broader market, the S&P BSE Mid-Cap index rose 0.48% and the S&P BSE Small-Cap index fell 0.28%.

The market breadth was negative. On the BSE, 1,769 shares rose and 2,416 shares fell. A total of 188 shares were unchanged. Economy:

The seasonally adjusted HSBC India Services PMI Business Activity Index stood at 60.9 in September 2025 as against 62.9 in August, however, the latest figure showed a loss of growth momentum.

The HSBC India Composite PMI Output Index slipped from 63.2 in August to 61.0, indicating the weakest rate of expansion since June. India's private sector continued to experience robust growth, but there were softer increases in new orders, international sales, business activity and employment during September.

Buzzing Index:

The Nifty Bank index jumped 0.84% to 56,058.10. The index rallied 3.07% in the straight five trading sessions.

IDFC First Bank (up 2.9%), AU Small Finance Bank (up 2.7%), Kotak Mahindra Bank (up 2.2%), Axis Bank (up 2.18%), HDFC Bank (up 1.04%), Bank of Baroda (up 0.97%), Federal Bank (up 0.71%), Canara Bank (up 0.48%), State Bank of India (up 0.14%) surged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.11% to 6.507 from the previous close of 6.514.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.7900 compared with its close of 88.7850 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 1.48% to Rs 119,860.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.64% to 98.35.

The United States 10-year bond yield rose 0.78% to 4.152.

In the commodities market, Brent crude for December 2025 settlement advanced $ 1.14 or 1.77% to $65.67 a barrel.

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