Sensex gains 107 points, Nifty crosses 25,000; PSU banks lead

The key equity benchmarks ended modestly higher on Monday, amid softer crude oil prices and sustained foreign fund inflows. The recovery in global markets and improving sentiment towards Indian equities also supported the indices. The Nifty settled above the 25,000 mark, while investors tracked ongoing Q2 FY27 earnings announcements for fresh cues on corporate performance. PSU bank and healthcare stocks led sectoral gains, while IT shares remained under pressure.

The S&P BSE Sensex added 107.25 points or 0.13% to 81,106.65. The Nifty 50 index rose 58.25 points or 0.23% to 25,044.65.

State Bank of India (up 2.56%), HDFC Bank (up 1.79%) and ICICI Bank (up 1.53%) supported the Nifty today.

In the broader market, the BSE 150 MidCap Index rose 0.28% and the BSE 250 SmallCap Index fell 0.15%.

The market breadth was negative. On the BSE, 2,010 shares rose and 2,422 shares fell. A total of 247 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 5.79% to 17.36.

The NSE and BSE will remain closed on Tuesday on account of the Diwali-Balipratipada holiday.

Numbers to Track:

In the commodities market, Brent crude for December 2026 settlement declined $1.30 or 1.32% to $97.02 a barrel.

The yield on India's 10-year benchmark federal paper shed 0.19% to 7.181 compared with the previous session close of 7.195.

In the foreign exchange market, the rupee appreciated against the dollar. The partially convertible rupee was hovering at 93.8700 compared with its close of 93.9850 during the previous trading session.

MCX Gold futures for 4 December 2026 settlement rose 0.60% to Rs 1,43,408.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.46% to 101.83.

The United States 10-year bond yield rose 0.08% to 4.846.

Global Markets:

Dow futures rose 436 points, signalling a positive opening for US stocks.

European shares advanced while most Asian indices ended higher, tracking Friday's recovery on Wall Street. Investor attention remained on Nvidia after its board announced an independent investigation into reports that CEO Jensen Huang had been targeted in a suspected Chinese intelligence operation. The board said it had no reason to believe that Nvidia's confidential information or US national security had been compromised. The allegations added uncertainty to the technology sector amid concerns over AI-related investments and US-China tensions.

Meanwhile, China's October producer price inflation accelerated to 5.7% year-on-year from 5% in September. Consumer inflation slowed to 0.7% from 0.9%, while core inflation eased to 0.8% from 1%.

US stocks ended mixed on Friday, 06 November 2026, as technology shares recovered from the previous session's sharp sell-off. The S&P 500 rose 0.31% to 7,376.86, while the Nasdaq Composite advanced 1.09% to 24,579.42. The Dow Jones Industrial Average declined 0.46% to 51,285.73.

Semiconductor and AI-related stocks led Friday's recovery. Advanced Micro Devices (AMD) surged around 11%, while Nvidia gained 2.8% and Micron Technology advanced 5.1%. Intel also climbed 7.7% as investors bought beaten-down technology stocks. IREN jumped 20% following stronger-than-expected revenue and growth in its AI cloud business.

Airbnb gained 11.7% after reporting stronger third-quarter demand and raising its full-year revenue growth outlook to the high teens. The company also lifted its adjusted EBITDA margin forecast to around 36%.

The US labour market delivered a stronger-than-expected performance in October. Non-farm payrolls increased by 165,000, against expectations of around 65,000. September's job additions were revised upwards to 60,000 from 29,000. The unemployment rate declined to 4.1% from 4.2%.

Average hourly earnings rose 0.4% month-on-month and 3.1% year-on-year. The stronger employment data reinforced expectations that the Federal Reserve could raise interest rates in December. Market-implied odds of a 25-basis-point increase rose to around 79%, compared with 71% a week earlier.

The next major US data release is the October consumer price index (CPI), scheduled for Tuesday, 10 November 2026. The reading will be important in assessing whether inflationary pressures could prompt further monetary tightening.

Brent crude futures declined on Monday trading followed by comments from US President Donald Trump that fresh attacks on Iran were unlikely if negotiations to end the conflict continued.

Brent had fallen 17% last week, marking its steepest weekly decline since the start of the Covid-19 pandemic. However, reports of attacks on vessels near the Strait of Hormuz kept geopolitical risks in focus. Iraq also reached an understanding with the US to allow oil exports through the strait using a shipping lane near Oman.

Stocks in Spotlight:

The Nifty PSU Bank index jumped 3.73% to 8,905.35, recovering from a 0.32% decline in the previous session.

Union Bank of India (up 5.60%), Punjab National Bank (5.27%), Bank of India (4.53%), Bank of Baroda (4.46%) and Indian Bank (4.35%) led the gains.

Canara Bank advanced 4.02%, while State Bank of India rose 2.56%. Other gainers included Bank of Maharashtra (1.74%), Central Bank of India (1.56%), UCO Bank (0.92%), Indian Overseas Bank (0.84%) and Punjab & Sind Bank (0.82%).

Larsen & Toubro (L&T) rose 1.82% after the construction major announced that its heavy civil infrastructure business vertical has secured a significant order from Noida Metro Rail Corporation for part design and construction of the Noida Metro Aqua Line Extension Project. The project scope encompasses part design and construction of a 15.1 km elevated viaduct from Botanical Garden to Noida Sector-142 and from Depot Station to Boraki. The scope includes the construction of 10 elevated metro stations, including architectural finishes.

Gland Pharma surged 5.41% after reporting strong Q2 FY27 results, with consolidated net profit rising 58.3% YoY to Rs 290.8 crore from Rs 183.7 crore in Q2 FY26. On a sequential basis, net profit declined 8.3% from Rs 317 crore in Q1 FY27. Revenue from operations increased 23.3% YoY to Rs 1,833.6 crore from Rs 1,486.9 crore. Sequentially, revenue rose 1.8% from Rs 1,800.3 crore.

Honasa Consumer jumped 2.98% after reporting strong Q2 FY27 results, with consolidated net profit rising 86.7% YoY to Rs 73 crore from Rs 39 crore in Q2 FY26. Revenue from operations increased 35.9% YoY to Rs 731 crore from Rs 538 crore, marking the company's highest revenue growth since listing. Gross profit rose 34.8% YoY to Rs 511 crore from Rs 379 crore. Gross profit margin stood at 69.9% against 70.5% a year ago.

Zee Entertainment Enterprises rose 1.97% after announcing a board meeting on 12 November 2026. The board will consider measures to address investor concerns over the recent share price decline and strengthen shareholder confidence. The board will discuss various options, including a proposal to buy back fully paid-up equity shares, pay an interim dividend or consider other measures to enhance long-term shareholder value.

Tata Steel fell 2.81%. The steel major reported improved Q2 FY27 earnings, with consolidated reported net profit rising 16.2% YoY to Rs 3,700 crore from Rs 3,183 crore in Q2 FY26. On a sequential basis, reported net profit increased 55.1% from Rs 2,385 crore in Q1 FY27. Revenue from operations increased 11.5% YoY to Rs 65,436 crore from Rs 58,689 crore. Sequentially, revenue rose 7.6% from Rs 60,794 crore.

Morepen Laboratories jumped 5% after the company announced the launch of its first prescription generic product in the US market. The company has launched Desloratadine Tablets USP, 5 mg, in 100-count and 500-count packs through its wholly owned US subsidiary, Morepen Bio Inc. Desloratadine is an active pharmaceutical ingredient (API) that Morepen has been supplying to the US market for several years.

Affordable Robotic & Automation hit the 5% upper circuit after securing an order worth approximately Rs 19 crore. The order is for its next-generation automated guided vehicle (AGV)-based car parking technology.

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