Sensex surges 1,458 points, Nifty reclaims 23,000; RIL climbs
The key equity benchmarks extended gains in afternoon trade, supported by a stronger rupee, easing crude oil prices and a pullback in US Treasury yields. The Nifty traded above the 23,000 mark, with buying interest extending across major sectors.
Oil and gas shares were in demand, led by Reliance Industries, which gained after its digital services arm Jio Platforms filed its draft prospectus for a planned initial public offering. IT stocks also supported the market. However, global sentiment remained cautious after stronger-than-expected US inflation data revived concerns about the Federal Reserve?s interest-rate outlook.
At 13:22 IST, the S&P BSE Sensex surged 1,457.50 points or 2% to 74,239.39. The Nifty 50 index jumped 395.50 points or 1.75% to 23,019.10.
In the broader market, the BSE 150 Midcap Index shed 0.14% and the BSE 250 Smallcap Index declined 0.72%.
The market breadth was negative. On the BSE, 1,756 shares rose and 2,435 shares fell. A total of 260 shares were unchanged.
Buzzing Segment:
The Nifty Oil & Gas index rose 1.37% to 10,600, rising 2.92% in three sessions. Hindustan Petroleum Corporation (up 5.1%) led the gains, followed by GAIL (India) (1.77%), Bharat Petroleum Corporation (1.42%) and Mahanagar Gas (1.41%). Other gainers included Indian Oil Corporation (0.66%), Petronet LNG (0.49%), Indraprastha Gas (0.30%) and Oil India (0.17%).
On the losing side, Chennai Petroleum Corporation fell 5.7%, Aegis Logistics declined 5.18% and Aegis Vopak Terminals dropped 1.43%.
Reliance Industries rose 2.90% after its subsidiary, Jio Platforms, filed the Red Herring Prospectus (RHP) for its proposed initial public offering (IPO) and announced the price band.
Jio Platforms has fixed the IPO price band at Rs 1,065-1,119 per equity share. Eligible employees bidding under the employee reservation portion will receive a discount of Rs 54 per share. The minimum bid lot is 12 equity shares, with bids accepted in multiples of 12 shares. The IPO will open for subscription on 21 October 2026 and close on 23 October 2026. The anchor investor bidding date is 19 October 2026.
Stocks in Spotlight:
Nestle India fell 5.41%. The company reported a 35.9% YoY increase in consolidated net profit to Rs 1,009.61 crore in Q2 FY27, compared with Rs 743.17 crore in Q2 FY26. Revenue from operations rose 20.2% YoY to Rs 6,788.34 crore from Rs 5,643.61 crore. Sequentially, net profit increased 5.3% from Rs 958.68 crore in Q1 FY27, while revenue from operations rose 6.7% from Rs 6,378.18 crore.
Tata Technologies fell 1.91% after a sequential decline in net income in Q2 September 2026. On a consolidated basis, the company reported a 3.6% YoY increase in net income to Rs 171.4 crore and a 28.4% rise in revenue from operations to Rs 1,698.8 crore in Q2 FY27. Sequentially, net income declined 5.2%, while revenue increased 2.1% during the quarter.
Hathway Cable Datacom dropped 5.54% after the company reported a 44.3% year-on-year (YoY) decline in consolidated net profit to Rs 10.21 crore in Q2 FY27, compared with Rs 18.26 crore in Q2 FY26. Revenue from operations increased 5.75% YoY to Rs 567.51 crore in the quarter ended 30 September 2026.
Global Markets:
Dow Jones futures rose 153 points, signalling a positive opening for US equities.
European equities opened higher on Thursday as stronger-than-expected UK economic growth data offset concerns over a global technology sell-off and hotter-than-expected US inflation. The UK economy grew 0.1% in August, against forecasts for a 0.1% contraction, according to the Office for National Statistics (ONS).
Meanwhile, Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Tehran did not seek an endless war or prolonged negotiations with the United States but would continue fighting until Washington accepted its demands.
Asian equities tumbled as the technology sell-off intensified. South Korea's Kospi plunged 7.57% to close at 5,554.22, while Japan's Nikkei 225 also recorded steep losses. Semiconductor stocks faced heavy selling pressure, with Samsung Electronics and SK Hynix among the major decliners.
The sell-off reflected concerns over the sustainability of AI-related investment and intensifying competition in the semiconductor industry. Reports of advances by Chinese memory-chip maker ChangXin Memory Technologies (CXMT) added to concerns over competition and potential pricing pressure in the global memory-chip market.
US equities ended lower on Wednesday, with technology shares 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.
According to the US Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 0.6% in September from August, following a 0.4% increase in August. Annual inflation accelerated to 3.7% from 3.4%. Gasoline prices rose 9.1% during the month, accounting for more than half of the monthly increase in the overall index.
Core CPI, which excludes food and energy, increased 0.3% month on month and 2.6% year on year, compared with 2.4% in August. The stronger inflation reading heightened concerns over persistent price pressures and the possibility of interest rates remaining elevated for longer.
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