Nifty 50 opens from 23,440.80 after a 1.68% gain

The session

Where the market stands

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 94.90, rupee firmer by 0.27% on the session
• India VIX: 15.50 (+1.3%)
• Gold (rupee terms): -2.34% on the session, -3.1% over five sessions

Key drivers

Markets

• Sebi backs removal of LTCG tax for foreign investors: Report. To boost foreign investment interest, India's Securities and Exchange Board has put forth a proposal to scrap long-term capital gains tax for foreign investors and extend tax relief to mutual fund investors. (Economic Times Markets)
• Stocks in news: Reliance Industries, Jio Platforms, M&M, CDSL, ITC, NTPC, IOCL and Hero MotoCorp. Indian equity benchmarks closed higher on Friday, with significant gains recorded in the Nifty 50 and BSE Sensex. Several major companies, including Reliance Industries and Jio Platforms, published positive quarterly earnings results. (Economic Times Markets)
• Stocks in news: ITC, Marico, SBI, Yatra Online, NSE, Container Corp and Sun Pharma. Indian equity benchmarks experienced gains, with Nifty nearing the 23,500 resistance level and strong corporate earnings reported. ITC faced a decline in consolidated net profit, impacted by the cigarette business, despite revenue growth. (ET Stocks)
• Market wrap: RIL, Tata Steel, Infosys, ICICI Bank top gainers and losers on Nifty and Sensex on Monday. Indian markets rallied sharply, with Sensex gaining 1.66% to 75,693 and Nifty rising 1.68% to 23,441. Strong quarterly earnings lifted investor sentiment, led by Reliance Industries, metals and oil and gas stocks, while market breadth remained positive. (Economic Times Markets)

Read more Sebi backs removal of LTCG tax for foreign investors: Report · Stocks in news: Reliance Industries, Jio Platforms, M&M, CDSL, ITC, NTPC, IOCL and Hero MotoCorp · Stocks in news: ITC, Marico, SBI, Yatra Online, NSE, Container Corp and Sun Pharma · Market wrap: RIL, Tata Steel, Infosys, ICICI Bank top gainers and losers on Nifty and Sensex on Monday

Economy & policy

Economy and policy

• Sebi issues rules for depositary receipts on REITs, InvITs units. India's market regulator has unveiled a new framework enabling foreign investors to invest in REITs and InvITs, aiming to boost foreign capital in these sectors. (Economic Times Markets)
• Sebi allows REITs, InvITs to tap overseas investors through depository receipts. Sebi has established frameworks allowing real estate investment trusts and infrastructure investment trusts to issue foreign currency denominated depository receipts. (Economic Times Markets)
• Goodbye LTCG tax? SBI says government can absorb ₹50,000 crore revenue loss as Budget 2027 hopes rise. SBI Research says scrapping LTCG tax could cost the government ₹40,000–50,000 crore in FY28, a manageable fiscal hit. The proposal comes as Finance Minister Nirmala Sitharaman signals openness to investors' tax concerns amid sustained FII outflows. (Business Today Mkts)
• A month after RBI’s rate hike, banks start raising deposit rates as liquidity shrinks, Bank of India the latest to move. Domestic banks are beginning to increase their deposit rates due to shrinking liquidity conditions in the market. Bank of India recently announced a rate hike on deposits for various maturities, including a special 500-day option. (ET Stocks)

Read more Sebi issues rules for depositary receipts on REITs, InvITs units · Sebi allows REITs, InvITs to tap overseas investors through depository receipts · Goodbye LTCG tax? SBI says government can absorb ₹50,000 crore revenue loss as Budget 2027 hopes rise · A month after RBI’s rate hike, banks start raising deposit rates as liquidity shrinks, Bank of India the latest to move

Companies

• Coforge among 4 stocks that hit 52-week highs and rallied up to 15% in a month. Four BSE 100 stocks, Coforge, Eternal, Indian Hotels Company and Kotak Mahindra Bank, touched fresh 52-week highs as the Sensex surged over 1,200 points. All four stocks also delivered positive returns over the past month. (ET Stocks)
• Marico Q2 Results: Profit Jumps 31%, 200-Bps Margin Expansion Is The Key Highlight. Marico's EBITDA rose 26.6% to Rs 709 crore against Rs 560 crore a year earlier. The figure marginally exceeded the market estimate of Rs 702 crore. (NDTV Profit)
• Interim Q2 Review: Strongest Earnings Growth In 12 Quarters As BFSI, Metals Drive Outperformance, Says Motilal Oswal. Earnings of the 35 Nifty companies that have declared results so far have grown 22% YoY, led by RIL, JSW Steel, ICICI Bank, Coal India, and Axis Bank. (NDTV Profit)
• ITC Q2 Results: Profit Plunges 20% As Margin Shrinks, Revenue Up Slightly. FMCG major ITC Ltd. reported a 20.1% YoY fall in net profit to Rs 4,137 crore for Q2 FY27, yet managed to beat Bloomberg consensus estimates of Rs 4,129 crore. (NDTV Profit)

Read more Coforge among 4 stocks that hit 52-week highs and rallied up to 15% in a month · Marico Q2 Results: Profit Jumps 31%, 200-Bps Margin Expansion Is The Key Highlight · Interim Q2 Review: Strongest Earnings Growth In 12 Quarters As BFSI, Metals Drive Outperformance, Says Motilal Oswal · ITC Q2 Results: Profit Plunges 20% As Margin Shrinks, Revenue Up Slightly

Companies

New issues

• IPO-bound StockGro's profit jumps 3-fold to Rs 113 cr in FY26 on strong revenue growth. In FY26, StockGro showcased substantial growth, achieving a profit after tax of Rs 112.96 crore while nearly doubling its revenue to Rs 226.14 crore, largely propelled by rising subscription fees. Operational costs increased, leading to higher total expenses. (ET Stocks)
• Indian IPO market clocks record Rs 84,400 crore in H1 FY27, fundraising jumps 30%. India's mainboard IPO market raised a record Rs 84,400 crore in H1 FY27, up 30% year-on-year, as September saw unprecedented fundraising. Strong investor participation, confidential filings and a robust pipeline supported primary market momentum. (Economic Times Markets)
• Coal India unit South Eastern Coalfields files for $800 million IPO. The offering will consist entirely of shares sold by parent Coal India, with no fresh issuance, according to the draft prospectus filed with Sebi (BS Companies)
• Vedant Poly Fabs SME IPO opens today; GMP at 16%, check key details. Vedant Poly Fabs’ Rs 56.68-crore IPO opens for subscription today on the NSE SME platform, with a 16% grey market premium indicating a potentially positive listing. (Economic Times Markets)

Read more IPO-bound StockGro's profit jumps 3-fold to Rs 113 cr in FY26 on strong revenue growth · Indian IPO market clocks record Rs 84,400 crore in H1 FY27, fundraising jumps 30% · Coal India unit South Eastern Coalfields files for $800 million IPO · Vedant Poly Fabs SME IPO opens today; GMP at 16%, check key details

Currency, commodities & rates

World

• Wall Street rushes in with bullish calls on India’s top bourse. Wall Street brokerages are turning bullish on NSE, citing its dominant market position and India’s expanding capital markets. Morgan Stanley, JPMorgan and 360 ONE recommend buying the stock, projecting up to 30% upside. (ET Stocks)
• Tata Agratas sees Chinese partner's board nominee exit ahead of rollout. The departure of Gordon Louis Chin comes amid a decline in outstanding payments for its services and equipment to AESC and Agratas building its own manufacturing capabilities. (LiveMint Companies)
• Bulk Scotch Imports: Commerce Ministry To Resolve HSN Classification Dispute Under India-UK FTA. Under the India-UK FTA, eligible UK whisky imports are set to face a 75% customs duty initially, falling to 40% over 10 years. (NDTV Profit)

Read more Wall Street rushes in with bullish calls on India’s top bourse · Tata Agratas sees Chinese partner's board nominee exit ahead of rollout · Bulk Scotch Imports: Commerce Ministry To Resolve HSN Classification Dispute Under India-UK FTA

What matters next