Stock Market Today: Sensex and Nifty Rise After Eight-Day Losing Streak
The Indian stock market witnessed a significant turnaround on Wednesday, with the benchmark indices, Sensex and Nifty, ending their eight-day losing streak. The Sensex rose 715.69 points to 80,983.31, while the Nifty was up 225.20 points to 24,836.30.
Market Highlights
- The Sensex rose 0.89% to 80,983.31
- The Nifty was up 0.92% to 24,836.30
- Foreign portfolio investors (FPIs) extended their selling streak of Indian equities for the eighth straight session
- Domestic institutional investors remained buyers for the 27th session, mopping up equities worth Rs 2916.14 crore
Global Market Trends
The US technology shares rallied, defying weakness in other parts of the stock market, after an OpenAI share sale valued the artificial intelligence company at $500 billion. The Nasdaq 100 rose 0.4% in its fourth consecutive day of gains, while the S&P 500 gained 0.1% and the Dow Jones Industrial Average was up 0.2%.
Asian Market Trends
Asian stock markets rose at the open on Friday, poised for their fourth gain in five weeks, as optimism around artificial intelligence propelled global equities to fresh records. The Nikkei was up 1.6%, while the Kospi rose 2.7%. The S&P/ASX 200 was up 0.3%, while the Hang Seng was down 0.5%.
Commodity Market Trends
Oil was on track for the biggest weekly decline since late June, ahead of an OPEC+ meeting that’s expected to result in the return of more idled barrels, exacerbating concerns around oversupply. Brent traded near $64 a barrel, down around 8% for the week, while West Texas Intermediate was below $61.
Gold prices headed for a seventh weekly advance, as the US government shutdown added another layer of uncertainty for investors seeking signals on the Federal Reserve’s monetary-easing path. Bullion held near $3,860 an ounce.
Corporate Actions
Finance Minister Nirmala Sitharaman will inaugurate the fourth edition of Kautilya Economic Conclave 2025 hosted from Oct. 3-5. Speakers at the event include S Jaishankar, RBI Governor Sanjay Malhotra, 15th Finance Commission Chairman N.K. Singh, Former RBI Governor Shaktikanta Das, and Communications and Jyotiraditya Scindia.
Sammaan Capital: Avenir Investment to invest Rs 8,850 crore via shares and warrants at Rs 139 apiece, an 18% discount to the current market price. Post-investment, it will hold 43.46% and make an open offer; Rs 4,587 crore via shares and the balance via warrants in two tranches.
CSB Bank: Second-quarter total deposits rose 25% year-on-year to Rs 39,651 crore, and gross advances were up 29% year-on-year to Rs 34,730 crore.
SKF India: Fixed Oct. 15 as the record date for entitlement of SKF Industrial shares. NCLT had earlier approved the demerger with SKF Industrial.
IPO Updates
WeWork India Management: The company will offer shares for bidding on Friday. The price band is set from Rs 615 to Rs 648 per share. The Rs 3000 crore IPO is entirely an Offer for Sale.
Jinkushal Industries: The company’s shares will debut on the stock exchange on Friday at an issue price of Rs 121 apiece. The Rs 116 crore IPO was subscribed 65.10 times on its third and final day.
Trualt Bioenergy: The company’s shares will debut on the stock exchange on Friday at an issue price of Rs 496 apiece. The Rs 839 crore IPO was subscribed 71.92 times on its third and final day.
Bulk Deals
Samman Capital: Goldman Sachs (Singapore) bought 66.38 lakh shares (0.80% stake) at a price of Rs 164.67 per share.
RBL Bank: Morgan Stanley Asia Singapore bought 32.51 lakh shares (0.53% stake) at a price of Rs 274.44 per share.
Block Deals
Eternal: BOFA SECURITIES EUROPE SA bought 82 lac shares (0.09% stake) and GOLDMAN SACHS BANK EUROPE SE – ODI sold 82 lac shares (0.09% stake) at a price of Rs 325.5 per share.
Price Band Change
Price band change from 10% to 5%: ANB Metal Cast, Prudential Sugar Corp.
Price band change from 20% to 5%: Manaksia aluminium, Madhav copper, Medico remedies, Natural capsules, Trigyn technologies, KCK Industries.
Short-Term ASM Framework
Securities shortlisted in Short-Term ASM Framework Stage – I: De Neers Tools Limited, Destiny Logistics, Umiya Buildcon
Ex-Dividend
Sumeet Industries, Glenmark Pharmaceuticals, Fineotex Chemical.
Bonus
Shilpa Medicare (1:1 Bonus).
Nifty October Futures
Nifty October Futures up by 0.83% to 24,967 at a premium of 131 points.
Nifty Options
Maximum Call open interest at 25,000 and Maximum Put open interest at 24700
Securities in Ban Period
RBL Bank, Sammaan Capital.
Rupee Update
The rupee recovered 9 paise from its all-time closing low to settle at 88.71 against the US dollar on Wednesday, as the RBI in its monetary policy decision announced a host of measures to support exporters and bring stability to the domestic unit. The yield on the 10-year bond ended six points lower at 6.58%.
