Sensex surges 1,534 points, Nifty touches 23,000 as RIL, banks rally
The key equity benchmarks rallied on Thursday, 15 October, as easing US Treasury yields and softer crude oil prices improved investor sentiment. The Sensex surged over 1,500 points, while the Nifty briefly reclaimed the 23,000 mark. The unwinding of global AI and semiconductor stocks also supported Indian IT shares, with the Nifty IT index gaining about 11% over five sessions. Reliance Industries rose sharply after Jio Platforms announced details of its proposed IPO, while large-cap banking stocks advanced ahead of their quarterly results. The rally was supported by buying in heavyweight stocks and expectations around September-quarter earnings, even as global markets remained under pressure from concerns over AI-related debt and intensifying competition in the semiconductor industry.
The S&P BSE Sensex surged 1,533.72 points or 2.11% to 74,315.61. The Nifty 50 index jumped 374.65 points or 1.66% to 22,997.35. It hit the day's high of 23,056.40.
ICICI Bank (up 3.80%), Reliance Industries (up 3.44%) and HDFC Bank (up 2.27%) boosted the Nifty higher today.
In the broader market, the BSE 150 Midcap Index shed 0.48% and the BSE 250 Smallcap Index declined 1.04%.
The market breadth was weak. On the BSE, 1,720 shares rose and 2,668 shares fell. A total of 212 shares were unchanged.
Numbers to Track:
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.44% to 102.10.
The United States 10-year bond yield tumbled 2.12% to 5.081.
In the commodities market, Brent crude for the December 2026 settlement dropped $2.17 or 2.05% to $103.89 a barrel.
The yield on India's 10-year benchmark federal paper fell 0.43% to 7.367.
In the foreign exchange market, the rupee rose against the dollar. The partially convertible rupee was hovering at 94.0500 compared with its close of 95.1725 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rallied 1.27% to Rs 1,47,700.
Global Markets:
Dow Jones futures climbed 132 points, signalling a positive opening for US equities.
Most European equities advanced 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 ended lower 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.
Stocks in Spotlight:
Reliance Industries rose 3.44% 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 proposed IPO comprises a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each.
Yes Bank slumped 14.53% following media reports of a Supreme Court ruling on the lender?s AT-1 bonds. According to media reports, the Supreme Court upheld the Bombay High Court?s decision to quash Yes Bank?s write-off of AT-1 bonds worth Rs 8,415 crore during its 2020 rescue and reconstruction. The reported ruling is a setback for the bank. It has also raised concerns about the potential financial implications of the bond dispute.
Nestle India fell 7.76%. 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 shed 0.74% 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 7.10% 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.
Initial Public Offer (IPO)
HD Fire Protect received bids for 2,41,68,77,595 shares as against 1,84,20,492 shares on offer, according to stock exchange data at 16:30 IST on 15 October 2026. The issue was subscribed 131.21 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 1,49,97,825 shares as against 1,40,40,000 shares on offer, according to stock exchange data at 16:30 IST on 15 October 2026. The issue was subscribed 1.07 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 3,27,15,207 shares as against 85,26,033 shares on offer, according to stock exchange data at 16:30 IST on 15 October 2026. The issue was subscribed 3.84 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 4,02,50,628 shares as against 18,50,66,845 shares on offer, according to stock exchange data at 16:30 IST on 15 October 2026. The issue was subscribed 0.22 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 30,02,260 shares as against 97,50,482 shares on offer, according to stock exchange data at 16:30 IST on 15 October 2026. The issue was subscribed 0.31 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 1,34,08,175 shares as against 3,02,82,330 shares on offer, according to stock exchange data at 16:30 IST on 15 October 2026. The issue was subscribed 0.44 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.
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