Nifty trade near day's high; European mrtk advance

The key equity benchmarks traded with strong gains in afternoon trade supported by positive global cues after AI bellwether, Nvidia reported upbeat earnings. However, investor will monitor movements in crude oil prices and other global developments. The Nifty traded near the 26,200 level.

Auto, IT and private bank shares advanced while media, PSU bank and realty shares declined

At 13:25 IST, the barometer index, the S&P BSE Sensex, advanced 441.95 points or 0.52% to 85,628.43. The Nifty 50 index gained 138.80 points or 0.53% to 26,192.30.

The broader market, the S&P BSE Mid-Cap index added 0.05% and the S&P BSE Small-Cap index remained unchanged.

The market breadth was negative. On the BSE, 2,009 shares rose and 2027 shares fell. A total of 220 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 1.46% to 12.15.

Gainers & Losers:

Eicher Motors (up 2.95%), Bajaj Finserv (up 2.26%), Reliance Industries (up 1.71%), Bajaj Finance (up 1.57%) and Tech Mahindra (up 1.40%) were the major Nifty50 gainers.

Asian Paints (down 1.21%), HCL Technologies (down 0.49%), Maruti Suzuki India (down 0.44%), Tata Steel (down 0.33%) and Max Healthcare Institute (down 0.33%) were the major Nifty50 losers.

Stocks in Spotlight:

Tilaknagar Industries (TI) jumped 3.01% after the company has marked its entry into the premium whisky category with the launch of Seven Islands pure malt whisky.

Transrail Lighting rose 1.35% after the company announced that it has received new orders worth Rs 548 crore, including a major international transmission line EPC project in a new country within MENA region.

Epack Prefab Technologies surged 3.55% after it entered into a memorandum of understanding (MoU) with MASCOT South Asia LLP to facilitate its proposed capacity addition in the State of Gujarat. The MoU will enable collaboration between Epack Prefab, MASCOT South Asia LLP, and the company for the planned expansion, forming part of the companys strategy to enhance production capabilities and leverage advanced technology for growth in the region.

Meghmani Organics advanced 1.09% after the company incorporated wholly owned foreign subsidiary (WOFS), Meghmani Organics Biodefensivos E Agricolas Do Brazil, to explore business opportunities in Brazil.

Mahindra Holidays rallied 4.27% after the companys board approved entering into Leisure Hospitality segment, aimed at scaling and diversifying its existing business portfolio. The new vertical will be operated through its wholly owned subsidiary, Mahindra Hotels and Residences India, under the brand name Mahindra Signature Resorts.

ACME Solar Holdings rose 0.91%. The company has commissioned an additional 16 MW of its 100 MW wind power project in Surendranagar, Gujarat, following the commissioning of 28 MW in October 2025. With this phase, the projects operational capacity now stands at 44 MW, contributing to ACME Solars overall operational portfolio rising to 2,934 MW.

Global Markets:

European and Asian markets advanced on Thursday, as chip shares rallied after Nvidias stronger-than-expected earnings and bullish forecast appeared to reinforce confidence in the global AI trade and boost the broader market.

Shares of the chip giant jumped more than 4% in extended trading after its fiscal third-quarter earnings beat earnings and revenue expectations. The AI chip maker also gave a stronger-than-expected fourth-quarter sales forecast, with CEO Jensen Huang saying demand for its current-generation Blackwell chips is off the charts.

U.S. equity futures edged higher in early Asian hours after Nvidias upbeat guidance, which likely lifted investor sentiment around the AI trade, following recent sessions that reflected fears about elevated valuations, debt financing, and potential chip depreciation.

On Wall Street, stocks closed mostly higher on Wednesday as Wall Street recovered some ground from tech-led sell-off.

The S&P 500 gained 0.38% to close at 6,642.16, snapping a four-day losing streak, while the Nasdaq Composite advanced 0.59% to settle at 22,564.23. The Dow Jones Industrial Average climbed 47 points, or 0.1%, to finish at 46,138.77.

Latest meeting minutes released on Wednesday showed that the Federal Reserve officials were at odds during their October meeting over cutting interest rates, divided over whether a stalling labor market or stubborn inflation were bigger economic threats.

While the Federal Open Market Committee approved a cut at the meeting, the path forward looks less certain. Disagreements stretched into the outlook for December, with officials expressing skepticism about the need for an additional reduction that markets had been widely anticipating, with many saying that no more cuts are needed at least in 2025.

The minutes did note that most participants saw further cuts likely in the future, though not necessarily in December.

The minutes also discussed the balance sheet aspect of policy. The FOMC agreed to stop the reduction of Treasury and mortgage-backed securities in December, a process that has shaved more than $2.5 trillion off the balance sheet, which is still around $6.6 trillion. There appeared to be widespread approval for the halting of a process known as quantitative tightening.

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