Indices trade sideways; breadth strong

The key equity benchmarks traded mixed in early trade as investors monitored movements in the rupee, crude oil prices and quarterly earnings announcements released over the weekend. The Nifty traded above the 22,500 level.

Market sentiment remained cautious amid mixed global cues and ahead of key US inflation data and the ongoing September-quarter earnings season. Continued foreign institutional selling, along with developments in the geopolitical landscape, also remained in focus. However, sustained buying by domestic institutional investors and a decline in crude oil prices offered some support to the market.

Media, auto and realty shares advanced while FMCG, IT and PSU Bank shares declined.

At 09:25 IST, the barometer index, the S&P BSE Sensex shed 46.41 points or 0.05% to 72,436.95. The Nifty 50 index rose 7.65 points or 0.03% to 22,528.10.

In the broader market, the BSE 150 MidCap Index added 0.40% and the BSE 250 SmallCap Index rose 0.80%.

The market breadth was strong. On the BSE, 2,342 shares rose and 932 shares fell. A total of 244 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,568.90 crore, while domestic institutional investors (DIIs) were net buyers of Rs 4,743.26 crore in the Indian equity market on 9 October 2026, according to provisional data.

Stocks in Spotlight:

Avenue Supermarts declined 3.52%. The company reported an 8.5% rise in consolidated net profit to Rs 743.6 crore and a 17.8% increase in revenue to Rs 19,644 crore in Q2 FY27 as compared with Q2 FY26.

Mahindra & Mahindra (M&M) advanced 1.74% after the company reported a 19.2% year-on-year rise in production volume to 1.21 lakh units and a 16.3% increase in sales volume to 1.13 lakh units in September 2026, while export volume declined 8.5% to 4,081 units as compared with September 2025.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 0.89% to 7.367 compared with the previous session close of 7.302.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.8400 compared with its close of 96.7100 during the previous trading session.

MCX Gold futures for 4 December 2026 settlement shed 0.31% to Rs 1,51,031.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 102.01.

The United States 10-year bond yield declined 0.40% to 5.223.

In the commodities market, Brent crude for December 2026 settlement declined $1.53 or 1.46% to $103.19 a barrel as expectations of additional Russian diesel supplies and a potential Russia-Ukraine energy ceasefire eased some concerns over supply disruptions. However, continued tensions in the Middle East and attacks on shipping routes kept supply risks in focus.

Global Markets:

US stock futures pointed to a positive opening on Monday, with Dow futures rising 190 points. However, investors remained cautious ahead of key US inflation data and the start of the September-quarter earnings season.

Asian indices traded mixed on Monday amid geopolitical uncertainty and caution ahead of corporate earnings. Japan's cash equity market remained closed for Sports Day.

US stocks ended higher on Friday, with all three major indices advancing and posting weekly gains. The Dow Jones Industrial Average rose 423.31 points, or 0.83%, to 51,654.95. The S&P 500 gained 46.18 points, or 0.59%, to 7,811.54, while the Nasdaq Composite advanced 172.83 points, or 0.64%, to 27,366.17.

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