Nifty trade above 23,600 in early trade; breadth strong
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 720.97 points or 0.95% to 76,393.99. The Nifty 50 index rose 175.40 points or 0.75% to 23,616.20.
In the broader market, the BSE 150 MidCap Index gained 0.87% and the BSE 250 SmallCap Index added 0.86%.
The market breadth was strong. On the BSE, 2,414 shares rose and 735 shares fell. A total of 177 shares were unchanged.
FPIs bought shares worth Rs 4318.90 crore in November through 2 November 2026. This follows net selling of Rs 48,082.27 crore in October 2026, while FPIs were net sellers of Rs 45,536.89 crore in September 2026.
Stocks in Spotlight:
ITC rose 0.19%. The company reported a 5.14% increase in consolidated net profit to Rs 4,168.40 crore in Q2 FY27 compared with Rs 4394.13 crore in Q2 FY26. Revenue from operations climbed 3.47% YoY to Rs 30,431.01 crore in Q2 FY27.
Marico jumped 6.52% after the company reported a 30.95% rise in consolidated net profit to Rs 550 crore in Q2 FY27 compared with Rs 420 crore in Q2 FY26. Revenue from operations climbed 12.96% YoY to Rs 3897 crore in the quarter ended 30th June 2026.
Numbers to Track:
The yield on India's 10-year benchmark federal paper declined 1.34% to 7.313 compared with the previous session close of 7.412.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.6500 compared with its close of 94.8400 during the previous trading session.
MCX Gold futures for the 4 December 2026 settlement rose 0.03% to Rs 1,40,222.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 101.82.
The United States 10-year bond yield rose 0.45% to 4.914.
In the commodities market, Brent crude for the December 2026 settlement shed 6 cents or 0.06% to $104.83 a barrel.
Global Markets:
Dow futures fell 106 points, signalling a negative opening for US stocks.
Asian equities were trading lower on Tuesday, as technology shares remained under pressure amid concerns over the returns from heavy artificial intelligence investments. Japan's cash market remained closed for Culture Day.
Wall Street ended mixed on Monday, 2 November 2026, as weakness in technology shares offset gains across other sectors. The Dow Jones Industrial Average rose 213.67 points, or 0.41%, to 51,983.98. The S&P 500 declined 38.67 points, or 0.51%, to 7,541.40, while the Nasdaq Composite fell 272.68 points, or 1.07%, to 25,164.32.
Technology and semiconductor stocks remained under pressure as investors reassessed the scale and potential returns of AI-related investments. Nvidia fell 1.26%, Microsoft declined 2.83% and Apple lost 1.83%. Oracle also fell more than 8% amid plans to raise $20 billion through share and debt offerings.
Marvell Technology dropped 12.72%, while optical-components maker Lumentum plunged 18.59%. Marvell and Lumentum announced an all-stock agreement under which Marvell will acquire Lumentum in a deal with an implied enterprise value of $115 billion.
Apple reported fiscal fourth-quarter revenue of $114.5 billion, up 12% year on year and above the analyst estimate of $113.4 billion. Net income rose 12% to $30.71 billion, while earnings per share came in at $2.10 against expectations of $1.99. However, the company forecast a gross margin of 45% to 46% for the December quarter, below the 47.9% reported in the September quarter. Apple shares fell 1.83% during regular trading and declined further during the earnings call.
US manufacturing activity expanded at a faster pace in October. The Institute for Supply Management's manufacturing PMI rose to 55.5 from 54.5 in September, beating the market forecast of 54.5. The reading marked the 10th consecutive month of expansion in the manufacturing sector.
The US midterm elections on Tuesday are another focus for investors. The outcome could influence expectations for fiscal policy, government spending and regulation of the technology sector. Markets are also tracking central bank decisions this week. The Reserve Bank of Australia is widely expected to raise its cash rate by 25 basis points to 4.85%, while the Bank of England is expected to increase its policy rate from 3.75% to 4.0%.
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