Indices dirft higher in early trade; breadth strong
Media, IT and PSU Bank shares advanced while pharma and metal shares declined
At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 203.16 points or 0.29% to 72,737.35. The Nifty 50 index added 16.80 points or 0.07% to 22,732.40.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 0.74% and the BSE 250 SmallCap Index rose 0.88%.
The market breadth was strong. On the BSE, 2,364 shares rose and 735 shares fell. A total of 196 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 9,980.22 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,952.71 crore in the Indian equity market on 29 September 2026, according to provisional data.
Stocks in Spotlight:
Power Mech Projects rallied 3.59% after the company has secured an order worth Rs 549.37 crore to provide complete operation and maintenance services at Adani Group?s 2x600 MW Moxie Power Generation Tuticorin TPP.
Ganesh Benzoplast hit lower circuit of 5% after the company has signed definitive agreements to sell its liquid storage tank and railway network businesses to Cisternina Logistics, a bulk liquid and gas storage and logistics platform that will be majority-owned by KKR, for Rs 1,154 crore.
KSB rallied 5.63% after the company has received a significant export order worth up to Rs 118 crore from Dangote Projects Free Zone Enterprise for the supply of a boiler feed pump package, further strengthening its presence in the international fertiliser and energy sectors.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.03% to 7.181 compared with the previous session close of 7.111.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.9200 compared with its close of 95.9475 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement rose 0.40% to Rs 1,46,898.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 101.39.
The United States 10-year bond yield fell 0.38% to 5.240.
In the commodities market, Brent crude for November 2026 settlement added 51 cents or 0.50% to $103.10 a barrel.
Global Markets:
US Dow Jones index futures were up 186 points on Wednesday, pointing to a higher opening for US stocks.
Asian stocks traded higher on Wednesday, while Asian currencies remained under pressure from rising global bond yields, higher oil prices and US-Iran tensions.
US stocks ended slightly lower on Tuesday as government bond yields continued to rise ahead of key inflation and labour market data, while investors assessed comments from Federal Reserve officials for clues on the interest-rate outlook.
The Dow Jones Industrial Average declined 131.59 points, or 0.26%, to 51,349.92, while the S&P 500 fell 12.85 points, or 0.17%, to 7,670.84. The Nasdaq Composite declined 22.84 points, or 0.08%, to 26,797.54.
Longer-dated US Treasury yields rose, with the 30-year bond yield hitting 5.6206%, its highest level since June 2002. The benchmark 10-year Treasury yield climbed to 5.293%, its highest level since June 2007.
The 30-year fixed mortgage rate rose to 7.58% on Tuesday. This was the highest level in the current series since November 2023.
Expectations for at least a 25-basis-point Fed rate hike at the October meeting fell to 51.5% from nearly 70% earlier in the session, according to CME FedWatch. This was after New York Fed President John Williams said the central bank had time to assess incoming data before deciding on another rate increase.
US job openings fell by 256,000 to 7.079 million in August, the lowest level in five months, while the Conference Board's consumer confidence index fell 6.7 points to 81.9 in September, its lowest level since 2014.
Crude oil prices fell as concerns over supply disruptions eased following signs of a recovery in Saudi Arabia's crude exports from its Red Sea ports after repairs to a key pipeline. Uncertainty over the reopening of the Strait of Hormuz continued amid the US-Iran conflict.
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