Sensex rises 386 points, Nifty crosses 23,100 as cement stocks gain
The key equity benchmarks traded with firm gains in afternoon trade, with the Nifty 50 crossing the 23,100 level. Cement shares were in demand, while buying in information technology stocks also supported the market. Investor sentiment benefited from a rebound in Asian equities and stock-specific movements following the release of quarterly earnings.
At 13:30 IST, the S&P BSE Sensex jumped 385.59 points or 0.52% to 74,701.20. The Nifty 50 index added 130.75 points or 0.57% to 23,128.10.
In the broader market, the Nifty MidCap 150 index was down 0.10%, while the Nifty SmallCap 250 index advanced 0.21%.
Market breadth remained positive. On the NSE, 2,104 shares advanced, while 1,335 declined and 109 remained unchanged.
Economy:
India's balance of payments recorded a surplus of $45.4 billion in August 2026, compared with a deficit of $5.6 billion a year earlier, according to data released by the Reserve Bank of India (RBI) on 15 October 2026. The current account deficit narrowed to $5.2 billion from $6.1 billion in August 2025. The merchandise trade deficit declined to $26.6 billion from $27.6 billion a year earlier, as merchandise exports rose to $44.7 billion from $35.1 billion, while imports increased to $71.3 billion from $62.7 billion. Net services receipts also rose to $16.5 billion from $15.6 billion a year earlier.
Buzzing Index:
The Nifty Cement index rose 1.75% to 13,613.25. ACC gained 4.68%, Ambuja Cements advanced 3.99%, Ramco Cements rose 2.76%, Dalmia Bharat climbed 2.28%, JSW Cement added 1.33%, India Cements increased 1.21%, UltraTech Cement rose 1.08%, Grasim Industries gained 1.01%, Shree Cement advanced 0.92%, Nuvoco Vistas added 0.77%, Birla Corporation rose 0.62% and JK Cement gained 0.45%.
Stocks in Spotlight:
Cyient DLM fell 15.44% despite reporting a 26.5% YoY and 5.16% QoQ increase in revenue to Rs 393.09 crore in Q2 FY27. The company's normalized net profit increased 25.8% YoY to Rs 15.82 crore from Rs 12.6 crore in Q2 FY26. Reported profit after tax rose 5.79% YoY and 108.78% QoQ to Rs 34.01 crore from Rs 32.15 crore and Rs 16.29 crore, respectively. Reported PAT included a one-off gain of Rs 18.2 crore from an earnout reversal.
PC Jeweller surged 16.12% after investor Aditya Kumar Halwasiya acquired 5.1 crore shares in the jewellery retailer through a bulk deal on the NSE. According to NSE bulk deal data on Thursday (15 October 2026), Halwasiya purchased the shares at Rs 14.43 apiece. The transaction represented a 0.52% stake in the company. Halwasiya is the promoter of Cupid, in which he holds a 33.29% stake. His investment portfolio also includes a 2.03% stake in Tourism Finance Corporation of India.
Global Cues:
Most European equities declined on Friday as escalating tensions in the Middle East kept crude oil prices above $100 a barrel, while investors assessed the outlook for global energy supplies and the impact of persistent inflation.
Iran's army commander-in-chief, Amir Hatami, said the Strait of Hormuz would remain closed until Iran's demands were met, adding that shipping traffic through the waterway was very limited, according to Iran's Mehr news agency. The US Central Command, however, said the United States and its regional partners controlled the strait and that commercial vessels continued to transit despite what it described as aggression by Iran's Islamic Revolutionary Guard Corps (IRGC).
US President Donald Trump said in a Newsmax interview on Thursday that he would not use nuclear weapons against Iran and did not see a need to deploy US ground troops. Meanwhile, US Treasury Secretary Scott Bessent said Washington would continue its financial pressure on Tehran until its financial resources were exhausted. The US Treasury announced sanctions targeting 16 individuals and 10 entities over alleged links to Iranian financial networks.
Most Asian indices advanced on Friday as investors assessed Wall Street's rebound and weighed persistent inflation concerns against the recent technology sell-off.
Indonesia was a notable exception, with the Jakarta Composite Index plunging over 11%, its steepest one-day decline since 1998, after global index provider MSCI proposed downgrading the country's market from emerging-market to standalone status. MSCI cited concerns over market transparency, concentrated shareholdings and investability, raising fears of potential foreign capital outflows.
US equities closed higher on Thursday. The Dow Jones Industrial Average climbed 1.08%, while the S&P 500 advanced 0.33% and the Nasdaq Composite gained 0.08%. Treasury yields eased, supporting the broader market despite continued pressure on technology and semiconductor stocks.
The rebound followed a technology-led sell-off earlier in the week, as hotter-than-expected US consumer inflation revived concerns over further Federal Reserve interest rate increases. Investors also questioned whether strong demand for artificial intelligence would justify substantial spending on data centres, semiconductors and cloud infrastructure, particularly amid higher borrowing costs and intensifying competition in the chip industry.
Inflation remained a key concern after US producer prices rose more than expected in September. The Producer Price Index (PPI) for final demand increased 1.3% month on month, its largest monthly gain since March 2022, while annual producer inflation accelerated to 6.3% from 5.6% in August. Energy prices were a major contributor, with final-demand energy prices rising 10.8% during the month. The data followed a stronger-than-expected consumer inflation report released on Wednesday, adding to uncertainty over the Federal Reserve's policy outlook.
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