Market surges over 1%; auto shares climb

The key equity benchmarks continued to trade with significant gains in mid-morning trade, supported by a moderation in crude oil prices from elevated levels and foreign fund inflows. Despite a recent uptick in crude prices, optimism over a potential de-escalation in the Iran conflict continued to underpin investor sentiment. The Nifty traded above the 25,350 mark.

Auto shares rallied for eight consecutive trading sessions.

At 11:25 IST, the barometer index, the S&P BSE Sensex advanced 1,275.49 points or 1.55% to 82,368.06. The Nifty 50 index 335.60 points or 1.33% to 25,376.45.

In the broader market, the Nifty MidCap 150 Index rose 1.11% and the Nifty SmallCap 250 Index added 1.63%.

The market breadth was strong. On the BSE, 2,686 shares rose and 765 shares fell. A total of 105 shares were unchanged.

Brent crude for December 2026 settlement rose 86 cents or 0.94% to $92.35 a barrel, recovering on Wednesday after slipping to a two-month low in the previous session.

Buzzing Index:

The Nifty Auto index jumped 1.97 % to 28,476.70. The index zoomed 12.01% in eight consecutive trading sessions.

Mahindra & Mahindra (up 3.9%), Uno Minda (up 3.21%), Tube Investments of India (up 2.66%), Samvardhana Motherson International (up 2.11%), Bharat Forge (up 1.62%), Maruti Suzuki India (up 1.39%), TVS Motor Company (up 1.36%), Hyundai Motor India (up 1.31%), Bosch (up 1.3%) and Tata Motors Passenger Vehicles (up 1.24%) surged.

Global Market:

Dow futures rose 143 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. 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.

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