Indices drift higher; breadth strong
Barring pharma shares all the sectoral indices on the NSE were traded in green with PSU Bank, auto and private bank shares leading the gains.
At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 1070.74 points or 1.34% to 82,197.35. The Nifty 50 index 276.65 points or 1.08% to 25,317.40.
In the broader market, the BSE 150 MidCap Index rose 0.65% and the BSE 250 SmallCap Index added 1.11%.
The market breadth was negative. On the BSE, 2,410 shares rose and 534 shares fell. A total of 115 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 7,212.22 crore, while domestic institutional investors (DIIs) were net sellers of Rs 7,172.53 crore in the Indian equity market 9 November 2026, according to provisional data.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.34% to 7.180 compared with the previous session close of 7.156.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.8700 compared with its close of 93.7700 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rose 0.65% to Rs 1,44,641.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 102.27.
The United States 10-year bond yield added 0.48% to 5.008.
In the commodities market, Brent crude for December 2026 settlement rose 98 cents or 1.07% to $92.47 a barrel. Crude oil prices recovered on Wednesday after falling to two-month lows in the previous session.
Stocks in Spotlight:
Kalyan Jewellers India rallied 9.40% after the company reported a 63.9% year-on-year increase in consolidated net profit to Rs 427.1 crore in Q2 FY27 from Rs 260.5 crore in Q2 FY26. Revenue from operations increased 31.4% to Rs 10,322.6 crore from Rs 7,856 crore.
Cochin Shipyard declined 7.30% after the company reported a 50% year-on-year decline in consolidated net profit to Rs 53.8 crore in Q2 FY27 from Rs 107.5 crore in Q2 FY26. Revenue from operations increased 11.7% to Rs 1,249.2 crore from Rs 1,118.6 crore.
MRF shed 0.54%. The company reported a 26.6% year-on-year decline in consolidated net profit to Rs 387 crore in Q2 FY27 from Rs 527.4 crore in Q2 FY26. Revenue from operations increased 17.4% to Rs 8,660.2 crore from Rs 7,378.7 crore.
Global Market:
Dow futures rose 146 points, signalling a strong opening for US stocks.
Most Asian indices traded higher on Wednesday as investors assessed the impact of stronger-than-expected US inflation and rising bond yields. However, sentiment remained cautious following the previous session's sell-off in US technology stocks.
US stocks ended lower on Tuesday after hotter-than-expected inflation data strengthened expectations of another Federal Reserve rate increase in December. The Dow Jones Industrial Average declined 157.86 points or 0.30% to 52,231.89. The S&P 500 dropped 29.01 points or 0.38% to 7,520.93, while the Nasdaq Composite fell 187.26 points or 0.74% to 25,065.87.
Technology stocks led the declines, while semiconductor shares remained under pressure amid renewed volatility in the artificial intelligence trade.
Nvidia fell 5.4% amid reports of an internal investigation into suspected chip shipments to China involving its chief executive, Jensen Huang. The stock has declined 9.6% over the past two sessions.
SoftBank Group dropped 3.3% in Japan after reporting a net loss of $7 billion for the second quarter. The loss was partly attributed to substantial investments in US data centre infrastructure.
CoreWeave was in focus in after-hours trading after reporting its third-quarter results. Revenue surged 168% year-on-year to $3.66 billion, while adjusted EBITDA increased to $2.26 billion from $838 million. The company raised its FY26 revenue guidance to $13 billion-$13.3 billion. It also increased its adjusted operating income guidance to $1.275 billion-$1.375 billion.
Another significant AI-related development involved Anthropic. The artificial intelligence company is pursuing a potential public listing that could raise as much as $64.4 billion and value the company at up to $1.4 trillion.
US consumer inflation rose 0.4% month-on-month in October, following a 0.6% increase in September. The reading exceeded the 0.3% increase forecast by economists polled by Reuters.
Core CPI, which excludes food and energy, increased 0.3%, against the market expectation of 0.2%. Higher shelter costs accounted for more than 30% of the monthly increase in headline inflation.
The US Bureau of Labor Statistics could not publish the usual annual inflation rates for October because it had not collected October 2025 survey data during the previous year's government funding lapse.
US Treasury yields climbed following the inflation report. The two-year Treasury yield surged nearly 18.9 basis points to 4.736% during Tuesday's session, while the 10-year yield rose around 12 basis points to approximately 4.98%.
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