Benchmarks extend winning streak to six sessions; Nifty tops 24,500

The key equity benchmarks ended sharply higher on Thursday, extending their winning streak to six consecutive sessions. Improving global cues, a sharp decline in crude oil prices and easing bond yields lifted investor sentiment. Hopes of an early resolution to the US-Iran conflict, sustained foreign investor buying and reduced concerns over US tariffs further strengthened the rally. Broader market joined the upmove, with most sectoral indices ending higher. The Nifty climbed above the 24,500 mark. Auto and private bank stocks led the gains, reflecting broad-based buying interest, while media shares were among the few laggards.

The S&P BSE Sensex jumped 2,008.61 points or 2.60% to 79,310.01. The Nifty 50 index rose 576 points or 2.40% to 24,536.60. In six consecutive sessions, the Sensex and Nifty climbed 8.28% and 8.1%, respectively.

Bajaj Finance (up 7.65%), ICICI Bank (up 5.33%) and HDFC Bank (up 3.16%) boosted the Nifty higher today.

The broader market index, the Nifty MidCap 150 Index, gained 1.93% and the Nifty SmallCap 250 Index added 0.79%.

The market breadth was strong. On the NSE, 2,547 shares rose and 1,084 shares fell. A total of 92 shares were unchanged.

Numbers to Track:

In the commodities market, Brent crude for the December 2026 settlement rose $1.42 or 1.50% to $96.04 a barrel.

The yield on India's 10-year benchmark federal paper declined 0.56% to 7.152 compared with the previous session close of 7.192.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.4475 compared with its close of 94.4600 during the previous trading session.

MCX Gold futures for the 4 December 2026 settlement rose 1.13% to Rs 1,44,850.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 101.51.

The United States 10-year bond yield shed 0.37% to 4.875.

Global Markets:

Dow futures surged 252 points, signalling a positive opening for US equities.

European shares traded higher on Thursday, supported by easing crude oil prices, hopes of an early resolution to the US-Iran conflict following the Democrats' victories in the US midterm elections and declining bond yields. These developments eased concerns over inflation and energy supply disruptions, supporting global risk appetite.

Asian equities ended mixed as a sharp selloff in semiconductor stocks triggered a temporary trading curb in South Korea. The decline in technology shares offset support from falling oil prices.

The Democrats' victories raised expectations that increased political pressure on US President Donald Trump could accelerate efforts to end the US-Iran conflict. A resolution could ease potential supply disruptions and reduce inflationary pressures.

Lower oil prices also supported bond markets, pushing government bond yields lower as investors reassessed inflation risks and the outlook for further Federal Reserve interest-rate increases.

Meanwhile, South Korea's current account surplus widened to a record $61.46 billion in September 2026 from $46.11 billion in August, according to Bank of Korea data.

Wall Street rallied on Wednesday, 4 November 2026, after Democrats won control of both the Senate and the House of Representatives. The Dow Jones Industrial Average jumped 1,569.40 points, or 3.03%, to 53,356.12. The S&P 500 advanced 1.58% to 7,688.62, while the Nasdaq Composite gained 1.44% to 25,736.51. The Dow recorded its strongest daily gain since April 2025. Falling crude oil prices and expectations of reduced policy uncertainty also supported investor sentiment.

Technology stocks showed mixed performance. Microsoft gained 6.68%, Amazon advanced 6.12% and Apple rose 5.31%. However, Nvidia declined 3.17%, while Micron fell 7%. Data-centre operators came under pressure amid concerns that Democratic control of Congress could lead to tighter scrutiny of AI infrastructure expansion. CoreWeave dropped 9.9%, Tesla lost 3.34% and Trump Media plunged 24.54%.

AMD shares rose around 1% after the chipmaker reported third-quarter revenue of $13.38 billion, up 45% year on year, and forecast fourth-quarter revenue of approximately $17 billion, plus or minus 3%. The company also reported data-centre revenue growth of 97% to $8.55 billion. Qualcomm fell 4.8% in after-hours trading after reporting earnings and issuing its outlook. McDonald's gained 6.5% after reporting higher quarterly profit and revenue, while Uber advanced 4.9% after its revenue and adjusted earnings exceeded expectations.

Economic data showed that US private-sector employment increased by 86,000 jobs in October, according to ADP, following a gain of 90,000 in September. The Institute for Supply Management's services PMI eased to 54.5 in October from 54.9 in September, below the market forecast of 54.8. The services sector continued to expand, but the moderation in activity and new orders indicated a slower pace of growth.

The US 10-year Treasury yield also eased as investors assessed the election outcome and the implications for fiscal policy and interest rates. Markets continued to price in the possibility of further Federal Reserve rate increases, with the reported probability of at least a 25-basis-point hike in December at 81.2%.

New Listing:

Shares of Bombay Coated & Special Steels ended at Rs 94.61 on the BSE, representing a premium of 15.38% as compared with the issue price of Rs 82.

The stock debuted at Rs 92.02 on the BSE, a premium of 12.22% over its issue price. The stock has hit a high of Rs 96.62 and a low of Rs 91.08. On the BSE, over 30.44 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Mahindra & Mahindra surged 5.59% after reporting strong Q2 FY27 earnings. Consolidated net profit attributable to owners rose 24.9% YoY to Rs 4,587.88 crore in Q2 September 2026 from Rs 3,672.32 crore in Q2 September 2025. Income from operations increased 24.8% YoY to Rs 57,553.13 crore from Rs 46,105.67 crore. Sequentially, net profit declined 15.9% from Rs 5,454.54 crore in Q1 FY27, while income from operations fell 1.1% from Rs 58,187.57 crore in Q1 FY27.

Tonbo Imaging India hit upper circuit of 20% after the company reported consolidated net profit of Rs 23.54 crore in Q2 FY27 compared with net loss of Rs 9.61 crore in Q2 FY26. Revenue from operations skyrocketed more than 20-fold to Rs 183.29 crore in Q2 FY27 from Rs 8.88 crore in Q2 FY26.

LG Electronics India surged 5.11% after the company?s standalone net profit jumped 25.66% to Rs 489.34 crore in Q2 FY27 compared with Rs 389.43 crore in Q2 FY26. Revenue from operations climbed 19.53% YoY to Rs 7,380.04 crore in the quarter ended 30th September 2026.

Bombay Stock Exchange (BSE) surged 5.23% after the company?s consolidated net profit jumped 44.90% YoY to Rs 809.15 crore in Q2 FY27 compared with 558.43 crore in Q2 FY26. Revenue from operations climbed 34.1% YoY to Rs 1,432.66 crore in Q2 FY27.

Parag Milk Foods surged 10.88% after the company reported consolidated adjusted net profit of Rs 42 crore in Q2 FY27, up 41.5% year on year after excluding a one-time gain of Rs 16 crore in the year-ago quarter. Reported profit after tax declined 8% to Rs 42 crore from Rs 45.65 crore a year earlier. Sequentially, net profit increased 90.5% from Rs 22.05 crore in Q1 FY27. Revenue from operations rose 23.1% year on year to Rs 1,240.89 crore in Q2 FY27 from Rs 1,007.95 crore. Sequentially, revenue increased 31.4% from Rs 944.57 crore in Q1 FY27. The company recorded volume growth of 12% during the quarter.

Lenskart Solutions surged 4.15% after the company reported a 105.3% year-on-year increase in consolidated profit after tax to Rs 232 crore in Q2 FY27 from Rs 113 crore in Q2 FY26. Sequentially, net profit increased 1.8% from Rs 228 crore in Q1 FY27. Revenue from operations rose 32.5% year on year to Rs 2,845 crore in Q2 FY27 from Rs 2,147 crore. Sequentially, revenue increased 4.8% from Rs 2,714 crore in Q1 FY27.

FSN E-Commerce Ventures (Nykaa) fell 1.46%. The company reported a 207% year-on-year increase in consolidated profit after tax to Rs 101 crore in Q2 FY27 from Rs 33 crore in Q2 FY26. Revenue from operations increased 28% year on year to Rs 3,006 crore from Rs 2,346 crore. Gross merchandise value (GMV) rose 30% to Rs 6,151 crore, while net sales value (NSV) increased 31% to Rs 3,064 crore.

PI Industries slumped 19.07% after the company reported a 70.14% year-on-year decline in consolidated adjusted net profit to Rs 122.2 crore in Q2 FY27. Sequentially, net profit declined 49.96% from Rs 244.2 crore in Q1 FY27. Revenue from operations fell 9.11% year on year to Rs 1,701.8 crore in Q2 FY27 from Rs 1,872.3 crore. Sequentially, revenue was largely unchanged, compared with Rs 1,702.3 crore in Q1 FY27.

CESC shed 0.53%. The company's consolidated net profit fell 2.23% to Rs 438 crore on a 6.46% rise in revenue from operations to Rs 5,607 crore in Q2 FY27 over Q2 FY26. Profit before tax (PBT) increased 2.99% YoY to Rs 586 crore in Q2 FY27.

Powered by Capital Market - Live News