Nifty 50 closed at 22,811.35, down 0.34%; IT leads, Capital Goods & Engineering lags

The session

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 94.45, rupee firmer by 0.57% on the session
• India VIX: 15.68 (+6.2%)
• Gold (rupee terms): -1.42% on the session, -2.4% over five sessions

Key drivers

Markets

• Stocks in news: Reliance Industries, Eternal, IREDA, Yes Bank, Trent and Hindustan Zinc. Indian equity benchmarks experienced a decline as profit-booking occurred amid rising crude oil prices. The Nifty 50 dropped significantly, closing at 22,889 after disappointing corporate earnings. (Economic Times Markets)
• IT stocks on fire, rally up to 15% today; check performance of TCS, L&T Technology, Wipro, Infosys | Jefferies bullish. The Nifty IT index rose as investors welcomed strong results from L&T Technology Services and renewed hopes for traditional technology spending. (LiveMint Markets)
• IT Stocks Rally: Wipro, Infosys, Birlasoft Shares Jump Over 3%; Jefferies Sees IT Re-Rating Potential. Wipro, Infosys and Birlasoft lead IT stock gains, while Jefferies sees selective upside in large- and mid-cap stocks and raises large-cap target prices by 1418%. (NDTV Profit)
• Nifty India Defence index slips 3%; Unimech, Axiscades, Dynamatic tank 7%. Apollo Micro, MTAR Tech, Sigma Advanced, Paras Defence, Astra Microwave, Zen Technologies, BEML, MIDHANI, Solar Industries and Data Patterns were down in the range of 4 per cent to 6 per cent. (Business Standard Mkts)

Read more Stocks in news: Reliance Industries, Eternal, IREDA, Yes Bank, Trent and Hindustan Zinc · IT stocks on fire, rally up to 15% today; check performance of TCS, L&T Technology, Wipro, Infosys | Jefferies bullish · IT Stocks Rally: Wipro, Infosys, Birlasoft Shares Jump Over 3%; Jefferies Sees IT Re-Rating Potential · Nifty India Defence index slips 3%; Unimech, Axiscades, Dynamatic tank 7%

Economy & policy

Economy and policy

• Indian bonds sell off on oil shock ahead of RBI policy minutes. Indian government bonds experienced a significant decline due to rising oil prices, raising concerns about inflation among investors. The benchmark bond yield has reached its highest point since March, leading to a more cautious trading environment. (Economic Times Markets)
• SEBI's CAS Revision: A Necessary Separation Of Cash Price Discovery And Derivatives Settlement. For Indian markets, this is a constructive regulatory adjustment. It preserves the development of a closing-auction mechanism while addressing a significant source of uncertainty for derivatives participants. (NDTV Profit)
• Expert view: Developed markets now offer higher growth and higher ROE, says Waterfield Advisors MD. Waterfield Advisors’ Riddhiman Jain says developed markets currently offer stronger growth and returns, drawing foreign investment away from India. (LiveMint Markets)
• 'Not Targeted At India': Rubio Seeks To Calm Nerves On Tariffs And Visa Curbs. The US Secretary of State says the India-US trade deal is "weeks not months" away and that visa changes are part of a global overhaul. (NDTV Profit)

Read more Indian bonds sell off on oil shock ahead of RBI policy minutes · SEBI's CAS Revision: A Necessary Separation Of Cash Price Discovery And Derivatives Settlement · Expert view: Developed markets now offer higher growth and higher ROE, says Waterfield Advisors MD · 'Not Targeted At India': Rubio Seeks To Calm Nerves On Tariffs And Visa Curbs

Companies

• Eternal share: What to expect from Zomato parent’s Q2 results 2026 as Blinkit growth stays strong. Brokerages expect Eternal, parent of Zomato and Blinkit, to report strong September-quarter growth, with improved margins, market-share gains and rapid Blinkit expansion. (LiveMint Markets)
• Vishal Mega Mart Share Price Slips Over 8% To 52-Week Low After Q2 Results. The company's net profit and revenue rose on a year-on-year (YoY) basis during the second quarter of FY27, while its operating margin declined. (NDTV Profit)
• Piramal Finance shares jump 4% as Q2 profit rises 67% YoY to Rs 545 crore, NII jumps 35% YoY. Piramal Finance shares rose nearly 4% after Q2 FY27 net profit surged 67% year-on-year to Rs 545 crore. Assets under management grew 24%, while retail disbursements increased 34%. (Economic Times Markets)
• RIL shares rise over 2%: Two triggers behind the Mukesh Ambani-led firm's rally today. RIL shares climbed 2.54% to Rs 1233.40 today against the previous session close of Rs 1202.80. Market cap of the firm reached Rs 16.68 lakh crore. (Business Today Mkts)

Read more Eternal share: What to expect from Zomato parent’s Q2 results 2026 as Blinkit growth stays strong · Vishal Mega Mart Share Price Slips Over 8% To 52-Week Low After Q2 Results · Piramal Finance shares jump 4% as Q2 profit rises 67% YoY to Rs 545 crore, NII jumps 35% YoY · RIL shares rise over 2%: Two triggers behind the Mukesh Ambani-led firm's rally today

Companies

New issues

• Jio IPO: Nithin Kamath explains how Jio played an important role in making what Zerodha is today. Zerodha CEO Nithin Kamath has credited Reliance Jio and Airtel with helping build India’s digital ecosystem and expand capital markets. (Economic Times Markets)
• Bonfiglioli Transmissions IPO allotment today; GMP signals 23% listing gain. Here's how to check status. Bonfiglioli Transmissions’ Rs 2,533.66 crore IPO was subscribed 46.05 times, with allotment expected to be finalised today. (Economic Times Markets)
• HD Fire Protect shares to list today; GMP signals 26% listing gain. HD Fire Protect is set to debut on the BSE and NSE on October 21, with a grey market premium of around 26%, signalling expectations of strong listing gains. (ET Stocks)
• Big-ticket IPOs have struggled to deliver bumper listing gains. Can Mukesh Ambani backed Reliance Jio buck the trend?. Several of India’s biggest IPOs, including those of Hyundai Motor India, LIC and Paytm, delivered weak or modest listing gains. (LiveMint Markets)

Read more Jio IPO: Nithin Kamath explains how Jio played an important role in making what Zerodha is today · Bonfiglioli Transmissions IPO allotment today; GMP signals 23% listing gain. Here's how to check status · HD Fire Protect shares to list today; GMP signals 26% listing gain · Big-ticket IPOs have struggled to deliver bumper listing gains. Can Mukesh Ambani backed Reliance Jio buck the trend?

Currency, commodities & rates

World

• Global Market: South Korea's Elice shares plunge 28% in market debut as data centre stocks shunned. Elice, which raised 201.1 billion won ($150 million) in its IPO, provides AI cloud services as well as AI-based education and business software and plans to spend most of its IPO proceeds on launching portable modular data centres and related infrastructure. (Economic Times Markets)
• Global Market Today: Asian shares, US futures rise on AI-trade revival. The MSCI Asia Pacific Index climbed 0.6% with shares gaining in South Korea and Japan. The Kospi Index rose 1.9%, rebounding after one of the country’s worst IPO debuts on record. (Economic Times Markets)
• Global stocks fall as AI spending concerns resurface, oil prices surge. Global equities declined as concerns over AI infrastructure spending resurfaced after a weak South Korean IPO, while Brent crude topped $111 amid renewed geopolitical risks (Business Standard Mkts)
• Marco Rubio Welcomes India's Peace Plan To End Russia-Ukraine War, Highlights Black Sea Challenges. Rubio also admitted that a Black Sea ceasefire has proved hard to achieve because the strikes there have strategic value for both combatants. (NDTV Profit)

Read more Global Market: South Korea's Elice shares plunge 28% in market debut as data centre stocks shunned · Global Market Today: Asian shares, US futures rise on AI-trade revival · Global stocks fall as AI spending concerns resurface, oil prices surge · Marco Rubio Welcomes India's Peace Plan To End Russia-Ukraine War, Highlights Black Sea Challenges

What matters next