Nifty hovers above 22,900 level; auto shares gear up

The key equity benchmarks continued to trade with substantial gains in mid-morning trade supported by a strengthening rupee and easing global bond yields and crude oil prices. The market sentiment remained positive as investors tracked September-quarter earnings, with the Nifty hovered above the 22,900 mark.

Market participants will track global developments, foreign institutional investors (FIIs) flows and further corporate earnings announcements for market direction

At 11:25 IST, the barometer index, the S&P BSE Sensex surged 1,074.39 points or 1.48% to 73,875.55. The Nifty 50 index jumped 297.25 points or 1.31% to 22,919.95.

In the broader market, the BSE 150 Midcap Index shed 0.08% and the BSE 250 Smallcap Index declined 0.67%.

The market breadth was negative. On the BSE, 1,712 shares rose and 2,266 shares fell. A total of 255 shares were unchanged.

Brent crude futures declined $1.35 or 1.27% to $104.71 a barrel.

Initial Public Offer (IPO)

HD Fire Protect received bids for 51,92,11,440 shares as against 1,84,20,492 shares on offer, according to stock exchange data at 11:15 IST on 15 October 2026. The issue was subscribed 28.19 times.

The issue opened for bidding on 13 October 2026 and will close on 15 October 2026. The price band of the IPO is fixed between Rs 258 and 271 per share. An investor can bid for a minimum of 55 equity shares and multiples thereof.

Fusion CX received bids for 88,41,768 shares as against 1,40,40,000 shares on offer, according to stock exchange data at 11:15 IST on 15 October 2026. The issue was subscribed 0.63 times.

The issue opened for bidding on 14 October 2026 and will close on 16 October 2026. The price band of the IPO is fixed between Rs 275 and 289 per share. An investor can bid for a minimum of 51 equity shares and multiples thereof.

Tonbo Imaging India received bids for 65,26,842 shares as against 85,26,033 shares on offer, according to stock exchange data at 11:15 IST on 15 October 2026. The issue was subscribed 0.77 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 665 and 700 per share. An investor can bid for a minimum of 21 equity shares and multiples thereof.

Zetwerk Manufacturing Business received bids for 32,93,433 shares as against 18,50,66,845 shares on offer, according to stock exchange data at 11:15 IST on 15 October 2026. The issue was subscribed 0.02 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 143 and 151 per share. An investor can bid for a minimum of 99 equity shares and multiples thereof.

Sahajanand Medical Technologies received bids for 6,41,431 shares as against 97,50,482 shares on offer, according to stock exchange data at 11:15 IST on 15 October 2026. The issue was subscribed 0.07 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 327 and 344 per share. An investor can bid for a minimum of 43 equity shares and multiples thereof.

Bonfiglioli Transmissions received bids for 36,25,450 shares as against 3,02,82,330 shares on offer, according to stock exchange data at 11:15 IST on 15 October 2026. The issue was subscribed 0.12 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 558 and 586 per share. An investor can bid for a minimum of 25 equity shares and multiples thereof.

Buzzing Index:

The Nifty Auto jumped 1.63% to 25,566.50. The index fell 0.93% in the past trading session.

Hero MotoCorp (up 3.23%), Maruti Suzuki India (up 2.58%), Mahindra & Mahindra (up 2.19%), Uno Minda (up 2%), Ashok Leyland (up 1.94%), TVS Motor Company (up 1.87%), Eicher Motors (up 1.48%), Samvardhana Motherson International (up 1.43%), Bajaj Auto (up 1.32%) and Tata Motors Passenger Vehicles (up 1.06%) surged.

Stocks in Spotlight:

Mangalore Refinery and Petrochemicals (MRPL) fell 4.35%, despite reporting a 202.98% year-on-year increase in consolidated profit after tax to Rs 1,900.76 crore in Q2 FY27, compared with Rs 627.36 crore in Q2 FY26.

Global Market:

Asian equities tumbled on Thursday as a sell-off in technology stocks spread from Wall Street to regional markets. South Korea's Kospi plunged 7.1% to 5,584.83, while Japan's Nikkei 225 fell 3.9% to 65,119.51, with semiconductor stocks leading the declines.

The sell-off followed losses in US technology stocks after hotter-than-expected inflation data heightened concerns over the Federal Reserve's interest rate outlook. Investors also remained wary of intensifying competition in the semiconductor industry following reports of advances by Chinese memory-chip maker ChangXin Memory Technologies (CXMT), raising concerns over potential pricing pressure in the global memory-chip market.

US equities ended lower on Wednesday, with technology stocks accounting for much of the decline. The Nasdaq Composite dropped 1.88% to 26,692.87, while the S&P 500 fell 1.11% to 7,718.94. The Dow Jones Industrial Average slipped 0.09% to 51,621.48.

The declines followed the release of US inflation data showing that the Consumer Price Index (CPI) rose 0.6% in September from August and 3.7% year on year, according to the US Bureau of Labor Statistics. Annual inflation accelerated from 3.4% in August, exceeding market expectations.

Higher fuel costs contributed significantly to the monthly increase, with gasoline prices rising 9.1% in September. Core CPI, which excludes food and energy, increased 0.3% month on month and 2.6% year on year. The inflation data heightened concerns that persistent price pressures could prompt the Federal Reserve to maintain a tighter monetary policy stance or consider further interest rate increases.

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