Sensex jumps 354 pts; media shares in demand
At 12:30 IST, the barometer index, the S&P BSE Sensex jumped 353.78 points or 0.48% to 74,669.39. The Nifty 50 index added 124.70 points or 0.54% to 23,123.30.
In the broader market, the Nifty Midcap 150 Index shed 0.04% and the Nifty Smallcap 250 Index rose 0.19%.
The market breadth was positive. On the BSE, 2,317 shares rose and 1,784 shares fell. A total of 257 shares were unchanged.
Economy:
The government has raised a windfall tax on exports of petrol and reduced levies on diesel, according to a government notification issued late on Thursday night. The tax on petrol export was hiked to Rs 2.5 per litre from Rs 0.5 per litre, according to the notification. On the other hand, duty on diesel exports was slashed to Rs 8.5 per litre from Rs 16 per litre, effective October 16, the order said.
SEBI revises the CAS framework:
The Securities and Exchange Board of India (SEBI) has revised the closing auction session (CAS) framework, introducing a 3:30 p.m. to 3:40 p.m. auction window and changing the reference price calculation to the volume-weighted average price (VWAP) of trades executed during the final 15 minutes of continuous cash-market trading. Most changes will take effect from 7 December 2026.
Order entry will close at a randomly determined, system-driven time between 3:38 p.m. and 3:40 p.m., with only limit and market orders permitted during the auction. Index derivatives will trade until 3:45 p.m., except expiring index contracts, which will close at 3:30 p.m. on expiry days, while stock derivatives will trade until 3:45 p.m. daily. The cash-market post-close session will run from 3:50 p.m. to 4 p.m., with trades executed at the closing price.
SEBI has also specified fallback reference prices when no trades occur during the final 15 minutes or on the day and clarified expiry settlement calculations and restrictions on iceberg and stop-loss orders during CAS.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.42% to 13.97. The Nifty 27 October 2026 futures were trading at 23,124.90 at a premium of 1.6 points as compared with the spot at 23,123.30.
The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 108 crore contracts at the 23,500 strike price. A maximum put OI of 69.5 crore contracts was seen at the 22,500 strike price.
Buzzing Index:
The Nifty Media index rose 1.47% to 1,640.95. The index fell 1.47% in the past trading session.
Tips Music (up 5.82%), Prime Focus (up 5.24%), Nazara Technologies (up 1.64%), PVR Inox (up 1.31%), Saregama India (up 1.26%), MPS (up 1.09%), and Sun TV Network (up 1.04%) jumped.
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