Benchmarks have extended thier gains in late afternoon session as global crude oil prices fell sharply easing inflationary worries and fear of interest rate hikes. The Brent crude oil prices have fallen below $100 barrel mark after Democrat party’s win in US mid-term election eased concerns of renewed U.S.-Iran escalation. Besides, persistent capital inflows from foreign institutional investors (FIIs) bolstered sentiment on the bourses. FIIs were the net buyers in Wednesday’s session, buying securities worth Rs 7,284.03 crore. Further, strong buying interest has been seen in select large cap banking, IT stocks and Auto sector stocks.
On the global front, Asian equity markets were trading mixed as regional chipmaking shares slumped on expectations of tighter tech oversight. European equity markets were trading higher amid ease in global crude oil prices and US bond yields.
Back home, Mahindra & Mahindra’s stocks surged over 5% after the company has reported 24.90% rise in its consolidated net profit at Rs 4,587.88 crore for the quarter ended September 30, 2026 as compared to Rs 3,673.32 crore for the same quarter in the previous year.
The BSE Sensex is currently trading at 79282.70, up by 1981.30 points or 2.56% after trading in a range of 78520.56 and 79465.03. There were 23 stocks advancing against 7 stocks declining on the index.
The top gaining sectoral indices on the BSE were Auto up by 4.15%, Realty up by 3.78%, Bankex up by 3.40%, Consumer Discretionary up by 2.84% and Consumer Durables up by 2.71%, while Capital Goods down by 1.81%, Telecom down by 1.15% and Power down by 0.27% were the few losing indices on BSE.
The top gainers on the Sensex were Bajaj Finance up by 7.31%, Interglobe Aviation up by 5.64%, Maruti Suzuki India up by 5.25%, Mahindra & Mahindra up by 4.77% and Bajaj Finserv up by 4.62%. On the flip side, NTPC down by 1.34%, Power Grid Corporation down by 0.42%, Bharti Airtel down by 0.41%, ITC down by 0.29% and Bharat Electronics down by 0.18% were the top losers.
Meanwhile, the rating agency, Crisil Ratings in its latest report has said that India's natural diamond industry is projected to generate revenues of $14.8-15.2 billion in the current fiscal, indicating a largely flat performance compared with the previous year. This reflects an uneven recovery in global demand, albeit a stabilisation as against a declining trend seen in the last 3 fiscals.
As per the report, resilient domestic demand should cushion weakness in exports, while lab-grown diamonds (LGDs) continue to reshape entry-level demand even as natural stones retain their premium appeal. Although profitability will remain under pressure and working-capital requirements elevated, supply discipline and prudent financial management should help keep credit profiles stable.
The report further noted that the domestic market, which accounted for less than 15% of industry revenues in fiscal 2024, now contributes nearly a quarter of overall sales, reducing the industry's reliance on a handful of export markets. Domestic revenues are projected to grow 12-15% this fiscal, supported by organised retail expansion, rising consumer aspirations and premiumisation. In contrast, exports are expected to decline 5-7% to around $11.5 billion amid subdued jewellery demand in the key markets of US and China.
The CNX Nifty is currently trading at 24552.25, up by 591.65 points or 2.47% after trading in a range of 24296.30 and 24579.90. There were 39 stocks advancing against 11 stocks declining on the index.
The top gainers on Nifty were Bajaj Finance up by 7.41%, Shriram Finance up by 6.71%, BSE up by 5.84%, Interglobe Aviation up by 5.65% and Tata Motors Passenger Vehicles up by 5.26%. On the flip side, Apollo Hospital Enterprises down by 2.84%, ONGC down by 1.89%, NTPC down by 1.54%, Coal India down by 0.89% and Bharat Electronics down by 0.62% were the top losers.
Asian equity markets were trading mixed; Shanghai Composite strengthened 3.74 points or 0.1% to 3,689.91, Straits Times rose 28.86 points or 0.54% to 5,297.49, Hang Seng advanced 868.5 points or 3.5% to 24,788.00 and Jakarta Composite gained 94.08 points or 1.88% to 5,013.85, while Nikkei 225 slipped 1323.63 points or 2.17% to 60,865.00, Taiwan Weighted lost 1374.19 points or 3.31% to 41,574.72 and KOSPI dropped 300.00 points or 5.57% to 5,383.80.
European equity markets were trading higher; UK’s FTSE 100 increased 91.29 points or 0.84% to 10,920.50, France’s CAC rose 90.71 points or 1.1% to 8,268.60 and Germany’s DAX gained 186.33 points or 0.7% to 26,624.00.