Benchmarks rise over 1% on positive Q2 earnings, easing crude prices

Indian markets gain over 1% on strong quarterly results, easing crude prices, hopes of US-Iran peace talks and foreign investor buying, with realty and FMCG stocks leading the rally

Equity markets rose over 1 per cent on Thursday as investors bought into companies that reported positive results in the June-September quarter. Market participants also pointed to easing crude prices, hopes of talks between the US and Iran, and buying by foreign investors as key triggers for the up move. Shares of Kotak Mahindra Bank and Adani Enterprises contributed the most to gains.  

The Nifty 50 gained 1.05 per cent to close at 22,936.75, and Sensex rose 1.24 per cent to close at 74,151.04 on Thursday. The Nifty is still 13 per cent below its 52-week high and only 3.4 per cent above its low.  

 

Apurva Sheth, head of research, Samco Securities, said this was a “very good rebound”. “The week should end on a positive note. From here, the chances of a pullback are high for the near future, and we can reach at least 23,500 levels,” he said. Of the Nifty 50 stocks, 39 advanced and 11 declined. Adani Ports rose 6.29 per cent to ₹1,872, Adani Enterprises gained 5.17 per cent to ₹2,607.90 and Eternal advanced 3.63 per cent to ₹337.85.  

Shares of Jio Platforms rose 0.40 per cent to ₹1,423.05 apiece on the BSE in its second session after listing. On the NSE, it was the most traded stock again. Trent was the biggest loser, falling 1.79 per cent to ₹2,861.70. The stock fell even as the firm logged profit growth in the second quarter of 2026-27 (Q2FY27), after Noel Tata announced he will step down as chairman and director, effective November 11.   

 

Shares of Maruti Suzuki (1.32 per cent), Bajaj Auto (0.97 per cent), SBI Life Insurance (0.88 per cent) and Eicher Motors (0.85 per cent) also ended lower. 

“Market recovery is likely to continue, supported by hopes of peace talks between the US and Iran, improving domestic growth expectations following the upward revision of FY27 Q2 GDP estimate, and intermittent buying by FIIs (foreign institutional investors). Crude oil prices eased, amid renewed hopes of diplomatic efforts to de-escalate the conflict in West Asia,” said Siddhartha Khemka, head of research, wealth management, Motilal Oswal. 

 

Vinod Nair, head of research, Geojit Investments, said value buying by institutions in pockets such as private banks, and optimism around FII buying has led investors to chip into the market. “I think maybe the later part of this financial year could be much better for India, compared to what we have seen in the last nine months. But the global external factors continue to be heavy,” he added.

Nifty Realty was the top sectoral gainer, rising 2.75 per cent to 819.80. Nifty FMCG followed with a gain of 2.34 per cent, while Nifty PSU Bank rose 2.20 per cent. Only Nifty Auto (down 0.24 per cent) and Nifty Cement (down 0.08 per cent) ended in the red.

Foreign portfolio investors (FPIs) sold equities worth ₹943.6 crore on Thursday. While, domestic institutional investors bought shares worth ₹1,924.41 crore. FPIs turned sellers after a two-day buying streak. On Tuesday, they had bought equities worth ₹4,240.39 crore, followed by an uptake of ₹871.83 crore on Wednesday.