Nifty 50 closed at 22622.7, down 0.44%; Power leads, Insurance lags

The session

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 95.14, rupee firmer by 0.66% on the session
• India VIX: 14.65 (+3.8%)
• Gold (rupee terms): -1.06% on the session, -1.1% over five sessions

Key drivers

Markets

• TCS, HCL Tech, Infosys shares surge up to 11% in 2 days; Nifty IT soars 2,000 points. More steam left for rally?. Indian IT stocks rallied as concerns over AI-driven disruption eased, triggering an “anti-AI” trade. The Nifty IT index surged over 2,000 points in two sessions to cross 30,000, its first move above the mark in nearly a month. (Economic Times Markets)
• Stocks in news: Adani Enterprises, Hyundai Motor India, BHEL, BEL, Groww, Tata Elxsi and RailTel. Indian stocks rallied impressively, as benchmark indices surged by over 1.5%, fueled by a wave of positive investor sentiment. Key players like Adani Enterprises and Hyundai Motor India are capturing attention due to significant recent updates. (ET Stocks)
• 5 years, no returns: Are these 9 Nifty bluechip stocks finally ready for a turnaround?. Investors are witnessing notable losses in well-known blue-chip stocks such as TCS, Infosys, and Hindustan Unilever. These major players are encountering significant hurdles affecting their market position. (Economic Times Markets)
• IT stocks post best day in 17 months; markets log biggest gain in 4 months. Nifty IT surged 5.22 per cent, its biggest gain since May 2025, as the Sensex and Nifty rose over 1.5 per cent amid a selloff in Asian chip stocks and strong HCL Tech results (Business Standard Mkts)

Read more TCS, HCL Tech, Infosys shares surge up to 11% in 2 days; Nifty IT soars 2,000 points. More steam left for rally? · Stocks in news: Adani Enterprises, Hyundai Motor India, BHEL, BEL, Groww, Tata Elxsi and RailTel · 5 years, no returns: Are these 9 Nifty bluechip stocks finally ready for a turnaround? · IT stocks post best day in 17 months; markets log biggest gain in 4 months

Economy & policy

Economy and policy

• Indian equities jump 1.6% as FM's STT remarks spark hopes of tax review. Indian equities surged 1.6% on Tuesday, marking the largest single-day gain in over two months. This increase followed remarks by finance minister Nirmala Sitharaman regarding potential changes to transaction taxes. (Economic Times Markets)
• Sebi proposes review of framework for monitoring utilization of issue proceeds. Sebi has invited public comments on recommendations to review rules governing the monitoring and disclosure of issue proceeds by listed companies. (ET Stocks)
• Sebi extends relaxation to revise fresh issue size till March 2027. IPO-bound companies can increase or decrease fresh issue sizes by up to 50 per cent without filing fresh draft offer documents, provided the main objective of the issue remains unchanged (Business Standard Mkts)
• Sebi notifies PMS rules; broadens investment avenue for portfolio managers, introduces PRIM route. Sebi has announced a new Portfolio Management Services framework effective from April 1, 2027. This framework permits portfolio managers to invest in IPOs, primary market debt, and various overseas securities. (Economic Times Markets)

Read more Indian equities jump 1.6% as FM's STT remarks spark hopes of tax review · Sebi proposes review of framework for monitoring utilization of issue proceeds · Sebi extends relaxation to revise fresh issue size till March 2027 · Sebi notifies PMS rules; broadens investment avenue for portfolio managers, introduces PRIM route

Companies

• IDBI Bank shares rally 13%, market value swells by Rs 11,460 crore amid muted market. What lies ahead?. IDBI Bank shares surged nearly 13%, adding over Rs 11,460 crore to its market capitalisation amid progress in the privatisation process. (Economic Times Markets)
• Q2 2026 quarterly results today LIVE updates: BHEL, Groww, Canara Bank, CEAT, RIIL, MRPL, Tata Tech, HDB Fin, others. Q2 2026 quarterly results today LIVE: The BSE’s results calendar lists 26 companies for Q2 earnings announcements on 14 Oct 2026. (LiveMint Markets)
• RBI to continue efforts to curb rupee volatility; external factors driving currency fall: FM. Finance Minister Nirmala Sitharaman mentioned the Reserve Bank of India’s ongoing efforts to stabilize the rupee's value. She noted that the rupee has significantly depreciated due to global uncertainties, despite India's strong economic fundamentals. (Economic Times Markets)
• BHEL gains 5%, hits new high post Q2 results; stock up 100% in one year. Thus far in the calendar year 2026, BHEL stock outperformed the market by soaring 61% compared to a 14.6% decline in the BSE Sensex. (Business Standard Mkts)

Read more IDBI Bank shares rally 13%, market value swells by Rs 11,460 crore amid muted market. What lies ahead? · Q2 2026 quarterly results today LIVE updates: BHEL, Groww, Canara Bank, CEAT, RIIL, MRPL, Tata Tech, HDB Fin, others · RBI to continue efforts to curb rupee volatility; external factors driving currency fall: FM · BHEL gains 5%, hits new high post Q2 results; stock up 100% in one year

Companies

New issues

• Sebi extends IPO-size flexibility on the back of soaring primary market activity. Sebi has extended the IPO relaxation allowing companies to revise fresh issue sizes by up to 50% without filing a new draft red herring prospectus. (Economic Times Markets)
• A Jigsaw Puzzle: Why Reliance Jio's IPO buzz isn’t saving RIL stock from a painful year?. Reliance Industries is gearing up for the highly anticipated Jio Platforms IPO, which is expected to generate significant capital. Despite this, recent declines in RIL shares reveal a cautious mood among investors about potential future gains. (Economic Times Markets)
• Tonbo Imaging India IPO GMP Today: Grey Market Premium At Rs 490, Listing Gains Estimated At 70%. Tonbo Imaging India IPO: At the upper end of the price band of Rs 700 per share, the latest grey market premium points to an estimated listing price of Rs 1,190 per share. (NDTV Profit)
• This small-cap stock surged 75% since IPO price but ICICI Securities sets target below CMP; what should shareholders do?. Sudeep Pharma shares have climbed nearly 75% above their IPO price, but ICICI Securities says expectations for its emerging battery materials business are already reflected in the valuation. (LiveMint Markets)

Read more Sebi extends IPO-size flexibility on the back of soaring primary market activity · A Jigsaw Puzzle: Why Reliance Jio's IPO buzz isn’t saving RIL stock from a painful year? · Tonbo Imaging India IPO GMP Today: Grey Market Premium At Rs 490, Listing Gains Estimated At 70% · This small-cap stock surged 75% since IPO price but ICICI Securities sets target below CMP; what should shareholders do?

Currency, commodities & rates

World

• NSEIX, London Stock Exchange sign pact to deepen India-UK market links. NSE IFSC and the London Stock Exchange have signed an MoU to explore dual listings, cross-listings, new financial products and cross-border trading connectivity between GIFT City and London. (ET Stocks)
• Gold price headed for Rs 1.50 lakh per 10 grams? All eyes on US inflation, Fed cues. In the international market, gold futures were trading at $4,186.57 per ounce, up 0.22%. Silver futures, however, were down 0.11% at $59.463 per ounce. (Business Today Mkts)
• Global Market: IMF urges governments to cut spending, reduce debt as borrowing costs rise. The IMF has urged governments worldwide to rein in spending, narrow budget deficits and reduce debt as global public debt approaches 100% of GDP. (Economic Times Markets)
• Dollar languishes as focus turns to CPI, Fed speakers. The dollar declined as traders awaited new information on the timing for interest rate increases. Investors reevaluated the recent rally fueled by artificial intelligence developments and easing oil prices. (Economic Times Markets)

Read more NSEIX, London Stock Exchange sign pact to deepen India-UK market links · Gold price headed for Rs 1.50 lakh per 10 grams? All eyes on US inflation, Fed cues · Global Market: IMF urges governments to cut spending, reduce debt as borrowing costs rise · Dollar languishes as focus turns to CPI, Fed speakers

What matters next