Stock Market Today: Nifty 50 and Sensex Extend Winning Streak
The benchmark indices on Monday extended their winning streak for the third consecutive session, with the Nifty 50 closing 0.74% higher at 25,077.65 and Sensex closing 0.72% higher at 81,790.12. The foreign portfolio investors on Monday stayed net sellers of Indian shares for the 10th consecutive session, selling stocks worth approximately Rs 313.77 crore, according to provisional data from the National Stock Exchange.
Global Market Trends
US equity futures ticked down as President Donald Trump said he would be willing to talk to Democrats about health care only after the government reopened. European contracts rose during Asian trade. The S&P 500 futures were down 0.1%, while the Euro Stoxx 50 was up 0.1%. US stocks closed at a record on Monday, powered by technology shares as investors disregarded the government shutdown and instead cheered a multibillion-dollar infrastructure deal that signaled the artificial intelligence spending boom.
The S&P 500 rose 0.4% to notch its seventh straight session of gains for its longest winning streak since early May. The Nasdaq 100 advanced 0.8%, but the Dow Jones Industrial Average fell 0.14%. Japanese shares extended their rally after the election of a pro-stimulus Sanae Takaichi as the country’s next leader sent the yen sliding and drove up yields of long-tenure bonds. Australian equities fell, while Chinese and South Korean markets were closed.
Commodity Market Update
Oil prices steadied after a two-day advance after OPEC+ agreed on a modest supply quota increase. Brent crude traded above $65 a barrel after a 1.5% gain on Monday, with West Texas Intermediate near $62. Gold clinched a fresh record high — pushing closer to $4,000 an ounce — as the US government shutdown and a political crisis in France injected more uncertainty into financial markets. Bullion rose to $3,977.44 an ounce after surging 1.9% on Monday.
Corporate Actions and Q2 Results
Bank of India reported a 8.5% increase in domestic deposits and a 13.9% increase in global gross advances. Metropolis Health reported a 23% increase in Q2 consolidated revenue, with core diagnostics at a high single-digit margin. Tata Motors reported a 35.8% decline in domestic sales of Curvv and a 39.8% decline in production volume.
PNC Infratech received the appointed date for two of its projects from the National Highways Authority of India. HCL Technologies joined the MIT Media Lab in the US to collaborate on artificial intelligence research. SPML Infra approved the allotment of 5.6 lakh shares upon exercise of rights attached to 5.6 lakh convertible warrants.
IPO Updates
WeWork India Management’s public issue was subscribed to 13% on day two, led by Qualified institutional investors. Tata Capital’s public issue was subscribed to 39% on day one, led by Qualified institutional investors. Glottis’s shares will debut on the stock exchange on Tuesday at an issue price of Rs 129 apiece, while Fabtech Technologies’ shares will debut on the stock exchange on Tuesday at an issue price of Rs 191 apiece.
Stocks in Focus
LG Electronics will offer shares for bidding on Tuesday, with a price band set from Rs 1,080 to Rs 1,140 per share. Anantam Highways Trust will offer shares for bidding on Tuesday, with a price band set from Rs 98 to Rs 100 per share. Optiemus Infracom, Eternal, Aditya Birla Lifestyle Brands, and Embassy Office Parks REIT saw significant trading activity on Monday.
Nifty and Sensex Outlook
The Nifty Oct futures were up 0.70% to 25,181.1 at a premium of 104 points. The Nifty Oct futures open interest was up by 1.56%. The maximum call open interest was at 25,200, and the maximum put open interest was at 25,000. The rupee closed flat at 88.79 against the US dollar on Monday, near its all-time low level. The yield on the 10-year bond ended one point higher at 6.52%.
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