Sensex, Nifty extend losses for second session as crude oil boils; Infy, RIL drag

The key equity benchmarks ended marginally lower on Wednesday, extending their losing streak to a second consecutive session. Elevated crude oil prices and weakness in heavyweight stocks weighed on market sentiment. Investors remained cautious ahead of the US Federal Reserve?s monetary policy decision later in the day, seeking clarity on the interest rate outlook and its implications for global markets. The Nifty settled below the 22,700 mark. Oil & gas and IT stocks declined, while auto and consumer durables shares advanced.

The S&P BSE Sensex declined 352.64 points or 0.48% to 73,246.03. The Nifty 50 index fell 50.90 points or 0.22% to 22,698.85. In the two consecutive trading sessions, the Sensex and the Nifty dropped 0.49% and 0.24%, respectively.

Infosys (down 3.43%), Reliance Industries (down 3.19%) and Bharti Airtel (down 1.55%) were major Nifty drags today.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.51% and the BSE 250 SmallCap Index added 0.37%.

The market breadth was positive. On the BSE, 2,245 shares rose and 2,079 shares fell. A total of 241 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.28% to 16.36.

Numbers to Track:

In the commodities market, Brent crude for the December 2026 settlement advanced $1.24 or 1.09% to $115.12 a barrel.

The yield on India's 10-year benchmark federal paper rose 0.09% to 7.442 compared with the previous session close of 7.435.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.0750 compared with its close of 95.2725 during the previous trading session.

MCX Gold futures for the 4 December 2026 settlement fell 0.10% to Rs 1,44,000.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 102.41.

The United States 10-year bond yield advanced 0.42% to 5.007.

Global Markets:

Dow futures fell 120 points, signalling a lower opening for US stocks.

European shares declined on Wednesday as investors assessed corporate earnings, elevated oil prices and awaited the US Federal Reserve's interest rate decision.

European investors are also awaiting the European Central Bank's policy decision on Thursday, 29 October 2026.

Most Asian indices ended higher as renewed optimism over artificial intelligence demand lifted technology stocks ahead of earnings from major US technology companies and the Federal Reserve's policy decision.

South Korean chipmaker SK Hynix's record quarterly results strengthened sentiment towards semiconductor stocks. The company reported a sharp increase in revenue and operating profit, driven by demand for high-bandwidth memory chips used in AI infrastructure.

US stocks advanced on Tuesday, 27 October 2026, as AI-related shares rallied and investors assessed corporate earnings ahead of the Federal Reserve's policy announcement. The Dow Jones Industrial Average edged up 15.99 points, or 0.03%, to 52,377.57. The S&P 500 gained 45.83 points, or 0.60%, to 7,722.60, while the Nasdaq Composite rose 308.43 points, or 1.18%, to 26,477.81.

Broadcom gained after announcing a $63 billion financing arrangement involving Bank of America, Blackstone, Citigroup and Morgan Stanley to fund AI computing capacity for Anthropic. The deal highlights the scale of financing now supporting AI infrastructure investment.

SK Hynix reported preliminary third-quarter revenue of 104.62 trillion won, up 327.9% year on year, while operating profit surged 557.2% to 83.33 trillion won. Net profit rose 215.7% to 39.78 trillion won. Revenue and operating profit reached record levels as demand for high-bandwidth memory and other AI-related products lifted chip prices.

Investors are now awaiting third-quarter results from Alphabet and Microsoft, due after the US market closes on Wednesday.

The Conference Board's US Consumer Confidence Index rose 7.5 points to 91.7 in October from a revised 84.2 in September, exceeding the Reuters poll forecast of 81. The improvement reflected better assessments of current business conditions and the near-term outlook, although concerns about living costs persisted.

US durable goods orders increased 1.8% in September, below the 2.0% forecast in one market calendar but above August's 0.1% increase. Excluding transportation, orders rose 0.5%. New single-family home sales declined 0.6% to an annualised rate of 676,000 units, exceeding the 650,000 forecast. The data pointed to resilience in parts of the economy, although durable goods orders missed the cited consensus estimate.

The Federal Reserve is due to announce its policy decision on Wednesday. Markets widely expect interest rates to remain unchanged, with investors looking for guidance on the future rate path amid inflation concerns and higher energy prices.

New Listing:

Shares of Jio Platforms ended at Rs 1,417.35 on the BSE, a premium of 26.66% compared with the issue price of Rs 1,119.

The scrip was listed at 1,358, at a premium of 21.36% compared with the initial public offer (IPO) price.

The counter hit a high of Rs 1,423.80 and a low of Rs 1,356.40. About 1.67 crore shares of the company changed hands at the counter.

Shares of Paras Healthcare were at Rs 737.15 on the BSE, a premium of 6.37% compared with the issue price of Rs 693.

The scrip was listed at 720, at a premium of 3.9% compared with the initial public offer (IPO) price.

The counter hit a high of Rs 748 and a low of Rs 705.75. About 7.87 lakh shares of the company changed hands at the counter.

Stocks in Spotlight:

Larsen & Toubro jumped 3.72% after the company reported a 33% year-on-year increase in consolidated net profit to Rs 5,202 crore in Q2 FY27. Revenue from operations rose 15.84% year on year to Rs 78,749.94 crore from Rs 67,983.53 crore. International revenue stood at Rs 45,870 crore, accounting for 58% of total revenue. Its consolidated order book stood at Rs 8,53,514 crore as of 30 September 2026, up 15% from March 2026, with international orders accounting for 54%.

Hindustan Unilever declined 0.12%, The company reported healthy revenue growth and improved profitability for the September quarter of FY27. The company reported a 3.91% jump in consolidated net profit to Rs 2,790 crore in Q2 FY27 compared with Rs 2,685 crore in Q2 FY26. Revenue from operations climbed 14.78% YoY to Rs 18,037 crore in Q2 FY27.

The company's underlying sales growth (USG) stood at 15%, while underlying volume growth (UVG) came in at 7%. The company?s board declared a interim dividend of Rs 19 per share for FY27. The record date has been fixed as 12 November 2026.

Vedanta rose 3.30% after reporting a record financial performance for the September quarter of FY27, supported by strong revenue growth, higher profitability and lower net debt. The company's consolidated net profit from continuing operations surged 151% year on year to Rs 6,202 crore in Q2 FY27. Net profit increased 17% quarter on quarter. Revenue from operations climbed 57% year on year and 10% quarter on quarter to a record Rs 25,812 crore.

Syngene International shares surged 12.19% as the company returned to profitability in Q2 FY27, reporting a net profit of Rs 32 crore against a loss of Rs 9 crore in Q1 FY27. However, net profit declined 52% year on year from Rs 67 crore in Q2 FY26. Revenue from operations increased 13% quarter on quarter to Rs 833 crore from Rs 736 crore. However, revenue declined 9% year on year from Rs 911 crore in Q2 FY26.

Bajaj Auto advanced 0.91%. The company reported a 35.25% increase in standalone net profit to Rs 3,353.76 crore in Q2 FY27 as compared with Rs 2,479.74 crore in Q2 FY26. Revenue from operations rose 34.05% to Rs 20,003.43 crore in Q2 FY27 from Rs 14,922.05 crore in Q2 FY26.

PG Electroplast shares surged 7.16% after the company reported a 395.2% year-on-year increase in consolidated net income to Rs 13.67 crore in Q2 FY27. Sales increased 42.5% year on year to Rs 933.88 crore from Rs 655.37 crore in Q2 FY26.

United Breweries shares jumped 4.72% after the company reported a 190% year-on-year increase in standalone net profit to Rs 136 crore in Q2 FY27. Standalone net sales rose 24% year on year to Rs 2,536 crore from Rs 2,051 crore. Growth was supported by higher sales volumes, premiumisation, pricing actions and a favourable product and geographic mix.

Initial Public Offer (IPO):

EAAA India Alternatives received bids for 2,76,85,908 shares as against 52,99,684 shares on offer, according to stock exchange data at 16:54 IST on 28 October 2026. The issue was subscribed 5.22 times.

The issue opened for bidding on 26 October 2026 and will close on 28 October 2026. The price band of the IPO is fixed between Rs 1,585 and 1,665 per share. An investor can bid for a minimum of 9 equity shares and multiples thereof.

BLS Polymers received bids for 41,90,58,100 shares as against 1,19,00,000 shares on offer, according to stock exchange data at 16:54 IST on 28 October 2026. The issue was subscribed 35.21 times.

The issue opened for bidding on 27 October 2026 and will close on 29 October 2026. The price band of the IPO is fixed between Rs 142 and 150 per share. An investor can bid for a minimum of 100 equity shares and multiples thereof.

SFC Environmental Technologies received bids for 38,53,665 shares as against 1,41,59,744 shares on offer, according to stock exchange data at 16:54 IST on 28 October 2026. The issue was subscribed 0.27 times.

The issue opened for bidding on 27 October 2026 and will close on 29 October 2026. The price band of the IPO is fixed between Rs 313 and 330 per share. An investor can bid for a minimum of 45 equity shares and multiples thereof.

M. K. Sons Fine Jewels received bids for 76,84,586 shares as against 1,19,00,000 crore shares on offer, according to stock exchange data at 16:54 IST on 28 October 2026. The issue was subscribed 0.65 times.

The issue opened for bidding on 28 October 2026 and will close on 30 October 2026. The price band of the IPO is fixed between Rs 153 and 162 per share. An investor can bid for a minimum of 91 equity shares and multiples thereof.

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