Bulls stay in charge: Nifty crosses 25,800 on upbeat earnings and FII buying

The headline equity indices ended higher for the fourth straight session, supported by strong Q2 earnings, renewed FII inflows, festive optimism, and positive global cues. The Nifty closed above the 25,800 mark, led by gains in PSU banks, energy, and IT stocks, extending the market?s winning streak.

The S&P BSE Sensex advanced 411.18 points or 0.49% to 84,363.37. The Nifty 50 index added 133.30 points or 0.52% to 25,843.15. In four consecutive sessions, the Sensex gained 2.84% and the Nifty rose 2.77%.

Reliance Industries (up 3.52%), Bajaj Finserv (up 2.65%) and State Bank of India (up 1.97%) boosted the indices today.

In the broader market, the S&P BSE Mid-Cap index rose 0.69% and the S&P BSE Small-Cap index added 0.59%.

The market breadth was positive. On the BSE, 2,530 shares rose and 1,740 shares fell. A total of 207 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.32% to 11.36.

On Tuesday, 21 October, 2025, the BSE and the NSE will be closed for normal business hours for Diwali Laxmi Pujan, while on Wednesday, the market will be closed for Diwali Balipratipada.

A special one-hour Muhrat trading session will be held on Tuesday, 21 October, from 1:45 PM to 2:45 PM.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.14% to 6.515 from the previous close of 6.506.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.9400 compared with its close of 88.0200 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 0.51% to Rs 127,652.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.12% to 98.55.

The United States 10-year bond yield added 0.12% to 4.015.

In the commodities market, Brent crude for December 2025 settlement lost 28 cents or 0.46% to $61.01 a barrel.

Global Markets:

European market traded higher on Monday as investor awaited for earnings from the companies including SAP, Barclays, Heineken and Svenska Handelsbanken.

Asian markets ended higher as investors analysed a series of key economic releases from China.

China?s economy expanded slightly above expectations in the third quarter of 2025, though growth continued to moderate amid ongoing disinflationary pressures and persistent U.S. trade tensions.

Official data released Monday showed that gross domestic product grew 4.8% year-on-year in the three months to September 30 ? just above market estimates of 4.7%, but slower than the 5.2% growth recorded in the previous quarter.

Separately, China?s central bank kept its benchmark lending rates unchanged for the fifth consecutive month, in line with expectations. The one-year loan prime rate was held steady at 3.0%, while the five-year rate remained at 3.5%, despite signs of cooling economic momentum.

On Wall Street, all three major U.S. indices closed higher last Friday. The Dow Jones Industrial Average rose 238.37 points (0.52%) to 46,190.61, supported by easing concerns over regional banks and a softer U.S. stance in trade discussions with China.

The S&P 500 and Nasdaq Composite each advanced 0.53%, ending at 6,664.01 and 22,679.98, respectively.

Stocks in Spotlight:

Reliance Industries rallied 3.52% after the company?s consolidated net profit jumped 9.54% to Rs 18,165 crore on 9.94% increase in revenue from operations to Rs 2,58,898 crore in Q2 FY26 over Q2 FY25.

HDFC Bank added 0.08%. The bank reported 10.8% rise in net profit to Rs 18,640 crore on a 10.3% increase in net revenue to Rs 45,900 crore in Q2 FY26 as compared with Q2 FY25.

ICICI Bank slipped 3.19% after the bank?s standalone net profit rose 5.21% to Rs 12,358.89 crore in Q2 FY26 as against Rs 11,745.88 crore posted in Q2 FY25. Total income increased 3.39% year on year (YoY) to Rs 49,333.49 crore in Q2 FY26.

Indusind Bank rose 1.09%. The bank reported standalone net loss of Rs 444.79 crore in Q2 FY26 compared with net profit of Rs 1,325.45 crore in Q2 FY25. Total income fell 10.90% to Rs 13,256.59 crore in Q2 FY26 compared with Rs 14,870.18 crore in Q2 FY25.

Punjab National Bank (PNB) rallied 3.82% after the bank?s standalone net profit climbed 13.95% to Rs 4,903.73 crore on 5.13% jump in total income to Rs 36,213.62 crore in Q2 FY26 over Q2 FY25.

Federal Bank jumped 6.92% after the bank's net profit rose 10.85% QoQ to Rs 955.26 crore, driven by robust operating income and efficient cost management. Operating profit stood at Rs 1,644.17 crore, up 5.65% QoQ. Net Interest Margin improved 12 bps QoQ to 3.06%.

DCB Bank surged 13.04% after the bank?s net profit rose 18.29% to Rs 183.91 crore on 13.30% increase in total income to Rs 2,008.84 crore in Q2 September 2025 over Q2 September 2024.

Yes Bank added 1.84% after the bank reported 18.3% rise in net profit to Rs 654 crore on 9.4% increase in total net income to Rs 3,945 crore in Q2 September 2025 as compared with Q2 September 2024.

RBL Bank surged 9.13% after Emirates NBD announced plan to acquire a majority stake in the listed domestic private sector lender. The board of Emirates NBD Bank (P.J.S.C.) (?ENBD?) and RBL Bank at their respective meetings held today, approved entering into definitive agreements for ENBD to acquire controlling stake in RBL Bank through a primary infusion of approximately $3 billion (~Rs 26,850 crore).

Meanwhile, RBL Bank announced its Q2 results on 18 October 2025. Its net profit fell 20% year-on-year to Rs 179 crore in Q2 FY26. PAT was impacted by MTM of Rs 44 crore (pre-tax) on unlisted equities basis their latest audited financial statements. Net interest income was down 4% YoY to Rs 1551 crore during the quarter.

IDFC First Bank climbed 6.95% after the company?s net profit surged 75.55% to Rs 352.31 crore on a 10.71% increase in total income to Rs 11,828.34 crore in Q2 September 2025 over Q2 September 2024.

Tejas Networks tumbled 8.59% after the company reported a consolidated net loss of Rs 307.13 crore in Q2 FY26, a sharp decline from the net profit of Rs 275.18 crore posted in the same quarter last year.

CEAT soared 12.55% after the company's standalone net profit surged 48.14% to Rs 202.23 crore on a 12.22% increase in revenue to Rs 3,701.11 crore in Q2 FY26 over Q2 FY25.

UTI Asset Management Company tumbled 4.42% to Rs 1,336.20 after the company?s consolidated net profit tanked 52.74% to Rs 113.01 crore in Q2 FY26, compared with Rs 239.17 crore in Q2 FY25. Total revenue from operations fell 22.26% year on year (YoY) to Rs 418.55 crore during the quarter.

CRISIL jumped 4.65% after the company posted 12.6% rise in net profit to Rs 193.1 crore on a 12.2% rise in income from operations to Rs 911.2 crore in Q3 2025 as compared with Q3 2024.

JSW Energy declined 2.85% after the company?s consolidated net profit declined 17.4% to Rs 704.68 crore despite 59.9% jump in revenue from operations to Rs 5,177.42 crore in Q2 FY26 over Q2 FY25.

Avantel slumped 8.40% after the company?s consolidated net profit tanked 81.39% to Rs 4.26 crore in Q2 FY26, compared with Rs 22.89 crore in Q2 FY25. Revenue from operations declined 28.42% year on year to Rs 55.41 crore in Q2 FY26.

UltraTech Cement dropped 0.11%. The cement major reported a 75.23% year-on-year (YoY) rise in consolidated net profit to Rs 1,231.58 crore for Q2 FY26, with revenue from operations growing 20.33% YoY to Rs 19,606.93 crore.

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