Sensex, Nifty rally for third straight session on global optimism, Bihar exit poll boost
Optimism grew over a possible India-U.S. trade agreement, alongside hopes that the U.S. government shutdown would soon be resolved. Further cheer came from expectations of rate cuts by the U.S. Federal Reserve, as recent labour market data signalled cooling inflationary pressures.
Adding to the momentum, exit polls in Bihar projecting a clear victory for the NDA alliance bolstered domestic investor confidence, fuelling a risk-on mood in the broader market.
The S&P BSE Sensex zoomed 595.19 points or 0.71% to 84,466.51. The Nifty 50 index rose 180.85 points or 0.70% to 25,875.80. In three consecutive trading sessions, the Sensex and Nifty have jumped 1.50% each.
Adani Enterprises (up 4.98%), TCS (up 2.73%) and Reliance Industries (up 1.19%) boosted the Nifty today.
In the broader market, the S&P BSE Mid-Cap index rose 0.44% and the S&P BSE Small-Cap index added 0.76%.
The market breadth was strong. On the BSE, 2,509 shares rose and 1,701 shares fell. A total of 171 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 3.04% to 12.11.
Economy:
India?s retail inflation eased sharply to a record low of 0.25% in October, down from 1.44% in September, as food prices continued to decline, according to data released by the Ministry of Statistics on Wednesday. This marks the lowest year-on-year inflation recorded in the current Consumer Price Index (CPI) series.
The government attributed the fall in both headline and food inflation to the combined impact of lower GST rates, a favourable base effect, and a drop in prices of key items such as oils and fats, vegetables, fruits, eggs, footwear, cereals, and related products.
Data showed that food prices fell 5.02%, while the food and beverages index declined 3.72% during the month, providing major relief to consumers.
Exit polls put NDA ahead in Bihar:
With polling for the second and final phase of the Bihar Assembly elections concluding on November 11, exit polls have unanimously projected a clear edge for the ruling National Democratic Alliance (NDA) over the Opposition?s Mahagathbandhan, while indicating that Prashant Kishor?s Jan Suraaj party is unlikely to make a significant impact. The elections, held in two phases on November 6 and 11 across all 243 constituencies, recorded a historic voter turnout of 66.91%, the highest in Bihar?s electoral history since Independence. The counting of votes is scheduled for November 14, when the verdict for over 2,600 candidates will be declared.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.32% to 6.478 from the previous close of 6.506.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.6525 compared with its close of 88.5000 during the previous trading session.
MCX Gold futures for 5 December 2025 settlement rose 0.32% to Rs 124,307.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 99.65.
The United States 10-year bond yield advanced 0.44% to 4.088.
In the commodities market, Brent crude for December 2025 settlement shed 57 cents or 0.87% to $64.59 a barrel.
Global Markets:
Most European stocks advanced on Wednesday, extending the positive momentum seen earlier this week amid optimism that the U.S. government shutdown may end soon.
German inflation eased slightly to 2.3% in October, according to data released by the federal statistics office, confirming preliminary estimates.
Consumer prices, harmonised to compare with other European Union nations, had stood at 2.4% year-on-year in September. The European Central Bank (ECB) has kept interest rates unchanged since June, noting that monetary policy remains in a ?good place.? Signs of easing inflationary pressures in the Eurozone?s largest economy suggest that the ECB may maintain its current policy stance for the foreseeable future.
Most Asian indices ended higher on amid hopes that the record-setting U.S. government shutdown could be nearing an end.
Members of the House of Representatives prepared to vote on a measure that could restore funding to government agencies and end a shutdown that started on October 1 and is now the longest in U.S. history.
In the absence of data from federal government agencies, traders focused on weekly jobs data from ADP, opens new tab on Tuesday which showed private employers shed an average of 11,250 jobs a week in the four weeks ending on October 25.
Investors will be keeping a close eye on SoftBank shares as well as tech stocks in Asia after the Japanese giant said Tuesday it sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion, as it looks to capitalize on its ?all in? bet on ChatGPT maker OpenAI.
Overnight in the U.S., the three major averages closed mixed. The Dow Jones Industrial Average rallied to a fresh closing record Tuesday, while the Nasdaq Composite struggled as investors moved money away from technology stocks into other parts of the market that traded at lower valuations.
The 30-stock Dow rose 559.33 points, or 1.18%, to close at 47,927.96. The S&P 500 also rose 0.21% to finish at 6,846.61. However, the tech-heavy Nasdaq lost 0.25% to settle at 23,468.30.
New Listing:
Shares of Billionbrains Garage Ventures (Groww) settled at Rs 130.94 on the BSE, marking a 30.93% premium over the issue price of Rs 100.
The stock debuted at Rs 114, a 14% premium to the issue price, and touched an intraday high of Rs 134.34 and a low of Rs 112.02. Trading activity was strong, with 6.24 crore shares changing hands on the exchange.
Stocks in Spotlight:
The Nifty IT index added 2.04% to 36,855.40. The index rallied 4.25% in three consecutive trading session.
Tech Mahindra led the rally, rising 3.48%, followed by LTIMindtree which gained 3.14%. Tata Consultancy Services (TCS) advanced 2.56%, while Mphasis and Oracle Financial Services Software (OFSS) climbed 2.09% and 1.83%, respectively. Among other IT majors, Wipro rose 1.53%, Coforge gained 1.49%, HCL Technologies added 1.46%, Persistent Systems moved up 1.43%, and Infosys advanced 1.33%.
Adani Enterprises climbed 4.98% to Rs 2,484.10 after the company disclosed detailed terms of its upcoming Rs 25,000 crore rights issue. In an exchange filing, the company said the rights issue committee of the board, at its meeting held on 11 November 2025, approved key terms including the issue price of Rs 1,800 per share and a rights entitlement ratio of three shares for every 25 held (3:25). The issue price of Rs 1,800 per share represents a 23.93% discount to the stock?s previous closing price of Rs 2,366.30 on the BSE.
BSE jumped 4.77% after the exchange posted a 61% increase in net profit to Rs 557 crore on a 44% rise in revenue from operations to Rs 1,068 crore in Q2 FY26 over Q2 FY25.
Shares of Tata Motors? commercial vehicle business, now officially listed as Tata Motors, made a strong debut on Wednesday, following its demerger from the passenger vehicle division. The stock opened at Rs 335 per share on the NSE, significantly higher than its discovered price of Rs 260.75, while on the BSE, it debuted at Rs 330.25, marking a 26.1% premium over the implied price of Rs 261.90. Tata Motors shares settled at Rs 330 on the NSE and Rs 327.65 on the BSE, sustaining gains of over 25% from the discovered price.
BLS International Services rallied 9% after the company?s consolidated net profit jumped 26.8% to Rs 175.23 crore on 48.8% increase in revenue from operations to Rs 736.63 crore in Q2 FY26 over Q2 FY25.
Zaggle Prepaid Ocean Services rose 3.88% after the company?s standalone net profit surged 79.1% to Rs 33.24 crore on a 42.4% rise in revenue from operations to Rs 430.98 crore in Q2 FY26 over Q2 FY25.
Gujarat State Fertilizers & Chemicals (GSFC) jumped 6.82% after the company reported a healthy set of numbers for the quarter ended September 2025. On a consolidated basis, net sales rose 20.96% year-on-year to Rs 3,187.37 crore, compared with Rs 2,635.17 crore in Q2 FY25. Sequentially, revenue grew 45.91% from Rs 2,184.41 crore in Q1 FY26. Net profit came in at Rs 324.07 crore, up 8.67% YoY and 133.9% QoQ.
Godrej Industries slipped 0.36%. The company reported a 15.69% decline in consolidated net profit to Rs 242.47 crore in Q2 FY26, compared to Rs 287.62 crore recorded in Q2 FY26. However, revenue from operations rose 4.72% YoY to Rs 5,032.14 crore for the quarter ended 30 September 2025.
Reliance Infrastructure rallied 1.91% after the company?s consolidated net profit surged to Rs 1,911.19 crore in Q2 FY26, compared to Rs 59.84 crore recorded in Q1 FY26. Revenue from operations rose 5.53% sequentially to Rs 6,234.91 crore for the quarter ended 30 September 2025.
IPO Update:
Tenneco Clean Air India received bids for 2,71,72,504 shares as against 6,66,66,666 shares on offer, according to stock exchange data at 16:50 IST on Wednesday (12 November 2025). The issue was subscribed 0.41 times. The issue opened for bidding on 12 November 2025 and it will close on 14 November 2025. The price band of the IPO is fixed between Rs 378 and 397 per share.
Physicswallah received bids for 2,37,42,785 shares as against 18,62,04,143 shares on offer, according to stock exchange data at 16:50 IST on Wednesday (12 November 2025). The issue was subscribed 0.13 times. The issue opened for bidding on 11 November 2025 and it will close on 13 November 2025. The price band of the IPO is fixed between Rs 103 and 109 per share.
Emmvee Photovoltaic Power received bids for 1,33,31,214 shares as against 7,74,27,183 shares on offer, according to stock exchange data at 16:50 IST on Wednesday (12 November 2025). The issue was subscribed 0.17 times. The issue opened for bidding on 11 November 2025 and it will close on 13 November 2025. The price band of the IPO is fixed between Rs 206 and 217 per share.
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