Sensex, Nifty end higher for third day; broader indices outperform

The key equity benchmarks closed marginally higher on Thursday, extending their winning streak to three sessions amid volatile trading. The Nifty 50 opened at 25,213.50 and rebounded to a high of 25,384.80. However, profit booking at higher levels eroded most of its morning gains. The index traded in a narrow range around 25,220-25,280 during the second half before settling at 25,299.35. Broader indices outperformed the benchmarks. Among sectors, realty stocks led the gains, followed by media and PSU banks, while auto, FMCG, pharma and IT shares declined.

The S&P BSE Sensex jumped 31.61 points, or 0.04%, to 81,911.01, while the Nifty 50 rose 44.30 points, or 0.18%, to 25,299.35. In three consecutive sessions, the Sensex and the Nifty jumped 1.25% and 1.21%, respectively.

Bajaj Finance (up 3.36%), State Bank of India (up 2.38%) and ICICI Bank (up 1.17%) supported the Nifty today.

The broader market outperformed the frontline indices. The Nifty MidCap 150 Index advanced 0.72% and the Nifty SmallCap 250 Index added 1.10%.

Market breadth remained positive. On the NSE, 2,080 shares advanced, while 1,536 declined and 105 remained unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 5.38% to 16.61.

Economy:

India's retail inflation accelerated to 6.09% in October 2026 from 5.54% in September, breaching the Reserve Bank of India's 6% upper tolerance limit for the first time under the current CPI series. Food inflation climbed to 8.94% from 7.74%, driven by higher prices of essentials such as onions, garlic and ginger.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.36% to 7.243 compared with the previous session close of 7.224.

In the foreign exchange market, the rupee lower against the dollar. The partially convertible rupee was hovering at 94.0300 compared with its close of 93.7150 during the previous trading session.

MCX Gold futures for the 4 December 2026 settlement fell 0.95% to Rs 1,38,345.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 102.81.

The United States 10-year bond yield declined 0.32% to 4.988.

In the commodities market, Brent crude for the December 2026 settlement declined 71 cents or 0.77% to $92.05 a barrel amid hopes of progress in negotiations to end the Iran conflict and the Russia-Ukraine war.

Global Markets:

European equity indices advanced on Thursday as robust corporate earnings and the region?s defensive composition offset volatility in technology stocks triggered by mounting leadership turmoil at AI-bellwether Nvidia.

Most Asian shares ended lower today as investors assessed renewed uncertainty surrounding Nvidia's leadership and persistent concerns over higher US interest rates.

The regional technology sector remained in focus following Wednesday's recovery in US semiconductor stocks. However, renewed uncertainty over Nvidia's leadership weighed on sentiment. The company's shares fell more than 8% in after-hours trading following reports that its board was considering the future of chief executive Jensen Huang. The reports cited allegations concerning his personal associations, which have not been independently established.

Japan reported an acceleration in wholesale inflation. The corporate goods price index rose 7.1% year-on-year in October, compared with 6.8% in September and market expectations of 6.5%. Higher fuel, chemical and semiconductor prices contributed to the increase. The data strengthened expectations of another Bank of Japan rate increase.

US stocks rallied on Wednesday, 11 November 2026, as a recovery in artificial intelligence and semiconductor shares helped offset concerns over higher interest rates.

The Dow Jones Industrial Average advanced 254.60 points or 0.49% to 52,486.49. The S&P 500 gained 98.45 points or 1.31% to 7,619.38, while the Nasdaq Composite jumped 400.31 points or 1.60% to 25,466.19.

Technology stocks led the advance. The Philadelphia Semiconductor Index surged 5.7%, with all its components ending higher. The S&P 500 technology sector gained 2.7%. The CBOE Volatility Index declined for a fourth consecutive session to 17.49.

CoreWeave surged 24.7% after its third-quarter results and improved financial outlook eased concerns about the sustainability of AI infrastructure spending. The company reported revenue of $3.66 billion, up 168% year-on-year, while adjusted EBITDA increased to $2.26 billion from $838 million.

The company raised its FY26 revenue guidance to $13 billion-$13.3 billion from its previous range. It also increased its adjusted operating income guidance to $1.275 billion-$1.375 billion. CoreWeave said it expected to achieve adjusted profitability in the first half of 2028.

Other AI-linked stocks also advanced. Nebius Group jumped 15.4%, while Applied Digital gained 7.4%. The strong performance reflected renewed investor interest in AI infrastructure companies following concerns over high capital expenditure and debt-funded expansion.

Anthropic's proposed public listing also remained in focus. The artificial intelligence company is targeting a valuation of up to $1.4 trillion and could raise as much as $64.4 billion through its share offering. The proposed listing is expected to test investor appetite for large AI-related offerings.

Stocks in Spotlight:

Godrej Industries surged 11.88% after Temasek Holdings, through its affiliate Jongsong Investments, agreed to invest Rs 2,500 crore in Godrej Capital, valuing the financial services arm at up to Rs 28,000 crore. Following the transaction, Godrej Group will retain approximately 80% ownership in the company. Founded in 2020, Godrej Capital offers loans to businesses and individuals across more than 100 cities. Its assets under management stood at Rs 35,000 crore as of 31 October 2026.

Cupid surged 8.70% after touching a record high of Rs 389 in initial trade. The company reported a 133% year-on-year increase in consolidated net profit to Rs 56.22 crore in Q2 FY27, compared with Rs 24.13 crore in the corresponding quarter last year. Sequentially, net profit rose 27.4% from Rs 44.15 crore in Q1 FY27.

ICICI Life Insurance rose 3.77% after the company reported a 27% year-on-year increase in new business premium to Rs 14,258 crore during the first seven months of FY27. For October 2026, new business premium grew 37.5% to Rs 2,437 crore. Annualised premium equivalent (APE) increased 8.6% to Rs 797 crore, while retail APE declined 3.2% to Rs 582 crore last month.

Hindustan Copper rose 2.25% after the company reported an 181.91% year-on-year increase in consolidated adjusted net profit to Rs 518.13 crore in Q2 FY27. Sequentially, adjusted net profit increased 47.04% from Rs 352.37 crore in Q1 FY27. Revenue from operations rose 63.65% year on year to Rs 1,175.24 crore from Rs 718.13 crore. Sequentially, revenue increased 25.49% from Rs 936.50 crore.

Nava surged 5.41% after the company?s consolidated net profit surged 143.59% to Rs 315.42 crore in Q2 FY27 from Rs 129.49 crore in Q2 FY26. Revenue from operations jumped 29.94% YoY to Rs 1,252.31 crore in the quarter ended 30th September 2026.

Roto Pumps surged 14.46% after the company reported a 245.30% year-on-year increase in consolidated net profit to Rs 20.58 crore in Q2 FY27. Sequentially, net profit rose 122.49% from Rs 9.25 crore in Q1 FY27. Revenue from operations increased 54.65% year on year to Rs 100.15 crore from Rs 64.76 crore. Sequentially, revenue grew 32.47% from Rs 75.60 crore.

Frontier Springs rose 4.63% after the company reported a 35.77% year-on-year increase in standalone net profit to Rs 21.33 crore in Q2 FY27. Sequentially, net profit increased 77.60% from Rs 12.01 crore in Q1 FY27. Revenue from operations grew 20.53% year on year to Rs 99.73 crore from Rs 82.74 crore. Sequentially, revenue increased 27.11% from Rs 78.46 crore.

Kovai Medical Center & Hospital surged 6.53% after the company reported a 30.77% year-on-year increase in standalone net profit to Rs 76.97 crore in Q2 FY27. Sequentially, net profit rose 11.41% from Rs 69.09 crore in Q1 FY27. Revenue from operations increased 20.57% year on year to Rs 472.63 crore from Rs 391.99 crore. Sequentially, revenue grew 9.58% from Rs 431.31 crore.

DCX Systems jumped 10.81% after the company reported a consolidated net loss of Rs 0.26 crore in Q2 FY27 as against a net loss of Rs 9.04 crore in Q2 FY26. Revenue from operations declined 27.31% to Rs 140.17 crore in Q2 FY27 from Rs 192.85 crore in Q2 FY26.

Triveni Turbine shed 1.37%. The company reported a 41.6% decline in consolidated net profit to Rs 53.3 crore in Q2 FY27 from Rs 91.2 crore in Q2 FY26. Revenue declined 3% to Rs 491 crore in Q2 FY27 from Rs 506 crore in the corresponding quarter last year.

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