Sensex jumps 773 points, Nifty ends above 25,250; banks, auto stocks gain

The key equity benchmarks ended marginally higher on Wednesday, maintaining a positive bias despite paring early gains. Softer crude oil prices, sustained foreign fund inflows and hopes of de-escalation in the Iran conflict supported sentiment. The Nifty opened firm and touched an intraday high of 25,424.35 before profit booking at higher levels pulled the indices off their peaks. The Nifty, however, managed to close above 25,250. Banking and auto shares attracted buying interest, while IT and pharma stocks declined.

The S&P BSE Sensex advanced 772.75 points or 0.95% to 81,879.40. The Nifty 50 index rose 210.40 points or 0.84% to 25,255.05.

Mahindra & Mahindra (up 5.30%), Bharti Airtel (up 1.78%) and HDFC Bank (up 1.06%) boosted the Nifty higher today.

In the broader market, the Nifty MidCap 150 Index rose 0.85% and the Nifty SmallCap 250 Index added 1.26%.

The market breadth was strong. On the BSE, 2,913 shares advanced, while 1,592 declined. A total of 222 shares remained unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.88% to 17.58.

Economy:

Moody?s Ratings raised India?s FY27 GDP growth forecast to 7% from 6.5%, citing resilient domestic consumption, improving investment activity and the economy?s ability to absorb the energy supply shock triggered by the Iran war. The agency said diversified crude oil and natural gas supplies, along with support from state-backed oil marketing companies and tax cuts, had cushioned the impact of higher energy prices. It also pointed to strong capital goods production, rising industrial credit and higher capacity utilisation as signs of a potential recovery in private investment. However, risks include widening price pressures, a deficient monsoon and tighter monetary policy.

Numbers to Track:

In the commodities market, Brent crude for the December 2026 settlement rose $1.74 or 1.90% to $93.23 a barrel.

The yield on India's 10-year benchmark federal paper rose 0.78% to 7.212 compared with the previous session close of 7.156.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 93.7300 compared with its close of 93.7700 during the previous trading session.

MCX Gold futures for the 4 December 2026 settlement rose 0.61% to Rs 1,41,369.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.20% to 102.46.

The United States 10-year bond yield added 0.50% to 5.009.

Global Markets:

European equity indices traded higher on Wednesday, supported by gains in technology stocks after strong results from US AI infrastructure company CoreWeave lifted sentiment. However, concerns over higher-than-expected US inflation and rising bond yields limited gains.

Most Asian indices ended higher, led by semiconductor stocks. The rally came despite losses on Wall Street in the previous session, as investors weighed AI-related optimism against expectations of further Federal Reserve rate hikes.

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.

Stocks in Spotlight:

Kalyan Jewellers India surged 8.63% after the company reported a 64% year-on-year increase in consolidated net profit to Rs 427.1 crore in Q2 FY27. Consolidated net profit rose 22% sequentially from Rs 348.7 crore in Q1 FY27. Revenue from operations grew 31% year on year to Rs 10,322.6 crore from Rs 7,856 crore. However, revenue declined 3% sequentially from Rs 10,588.9 crore in the previous quarter.

Jyoti Structures surged 20% after the company announced the release of bank guarantees and letters of credit by its lenders. The facilities are being made available under its resolution plan approved by the National Company Law Tribunal (NCLT). The company said lenders had progressively released the facilities following its requests. The resolution plan envisaged bank guarantees and letters of credit worth Rs 510.59 crore.

Matrimony.com surged 4.72% after the company reported a 167.3% year-on-year increase in consolidated net profit to Rs 20.7 crore in Q2 FY27. Consolidated net profit rose 8.6% sequentially from Rs 19.1 crore in Q1 FY27. Revenue increased 17.6% year on year to Rs 134.8 crore from Rs 114.6 crore. Sequentially, revenue grew 3.3% from Rs 130.5 crore.

HLE Glascoat hit the 5% upper circuit after its subsidiary, Kinam Engineering Industries, secured an international order worth $42-48 million. The order is from a leading international company operating in the long-duration energy storage sector. It covers the design, engineering, manufacturing, testing and supply of specialised shell-and-tube heat exchangers and associated process equipment.

Titagarh Rail Systems jumped 4.01% after the company?s consolidated net profit jumped 49.23% to Rs 63.17 crore in the quarter ended 30th September 2026 compared with Rs 42.33 crore in the corresponding quarter of the previous fiscal year. Revenue from operations registered a marginal decline of 0.81% YoY to Rs 792.56 crore in Q2 FY27.

HEG Advanced Materials rose 0.06%. The company?s subsidiary, TACC received the approval letter for an incentive of Rs 609.50 crore under the Electronics Component Manufacturing Scheme (ECMS).

Artson jumped 1.22% after the company secured a purchase order worth Rs 16.07 crore, excluding GST, from Tata Steel, Jamshedpur. The order covers the supply of two dome and reformer shells. It is an item-rate contract and is scheduled for execution by 6 May 2027.

Powered by Capital Market - Live News