Nifty trade below 22,650 in early trade; breadth negative
At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 464.87 points or 0.64% to 72,603.25. The Nifty 50 index lost 163.70 points or 0.73% to 22,608.85.
In the broader market, the BSE 150 MidCap Index declined 0.37% and the BSE 250 SmallCap Index fell 0.04%.
The market breadth was negative. On the BSE, 1,363 shares rose and 1,674 shares fell. A total of 205 shares were unchanged.
FPIs sold shares worth Rs 23,485.97 crore in October through 6 October 2026. This follows net selling of Rs 45,536.89 crore in September 2026, while FPIs were net buyers of Rs 17,366 crore in August 2026.
Stocks in Spotlight:
Titan Company fell 3.61%. The company's consumer businesses registered a 25% year-on-year (YoY) growth in the second quarter of FY27. Its domestic business grew 22% YoY, while the jewellery business across all brands recorded 21% growth. The watches business posted a robust 30% YoY growth during the quarter.
Utkarsh Small Finance Bank rose 4.51% after the bank's total deposits increased 6.6% YoY to Rs 23,869 crore in Q2 FY27. Total disbursements climbed 54.9% YoY to Rs 3,525 crore during the quarter.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.02% to 7.199 compared with the previous session close of 7.198.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.3750 compared with its close of 96.3575 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement declined 0.30% to Rs 1,49,670.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.20% to 102.03.
The United States 10-year bond yield rose 0.68% to 5.304.
In the commodities market, Brent crude for December 2026 settlement jumped 99 cents or 0.98% to $ 101.57 a barrel.
Global Markets:
Asian indices traded mixed on Wednesday while mainland Chinese markets remained closed for a holiday. Investors were tracking Wall Street's record-setting close, movements in US Treasury yields and developments in oil prices.
US stocks ended higher on Tuesday, 6 October 2026, with the S&P 500 and Nasdaq Composite closing at record highs as easing Treasury yields and relatively stable crude oil prices supported risk appetite. The focus has now shifted towards the Federal Reserve's meeting minutes due later on Wednesday and the upcoming third-quarter earnings season.
The Dow Jones Industrial Average gained 253.38 points, or 0.49%, to 51,521.28, while the S&P 500 rose 45.00 points, or 0.58%, to 7,818.93. The Nasdaq Composite advanced 122.48 points, or 0.45%, to 27,599.79. The S&P 500 and Nasdaq both closed at fresh record highs.
Technology and artificial intelligence-related stocks remained important drivers of the rally. Semiconductor shares including Advanced Micro Devices and Marvell Technology gained amid continued optimism over demand for chips and infrastructure supporting artificial intelligence applications. Nvidia also remained near a $6 trillion market valuation, highlighting the continuing strength of the AI investment theme.
The rally also received a boost from the energy sector. Constellation Energy surged after announcing a major long-term electricity agreement with Google. The deal covers 3,590 MW of power, including a 20-year agreement for 890 MW from nuclear capacity and a separate 15-year agreement covering 2,700 MW from Constellation's existing PJM assets. Constellation plans to invest more than $4.3 billion to increase output at 11 nuclear reactor units. The agreement highlights the growing demand for reliable electricity as technology companies expand energy-intensive data-centre and AI infrastructure.
The deal also reinforced investor interest in companies positioned to benefit from the increasing power requirements of AI data centres. Constellation shares rose more than 12% on Tuesday, while other nuclear and power-related stocks also advanced.
US Treasury yields eased from their recent highs, providing some relief to equity markets. The 10-year Treasury yield ended around 5.27%, down roughly 3 basis points, while the two-year yield declined to around 4.80%. The 10-year yield had climbed to about 5.35% on Monday, its highest level in more than two decades, increasing pressure on interest-rate-sensitive assets.
Meanwhile, the US trade deficit widened sharply in August to $105.6 billion, up 13.7% from the previous month and the largest since March 2025. The increase was driven largely by a jump in imports, including crude oil, semiconductors and other goods, with imports reaching a record level.
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