Sensex, Nifty rise over 1% as Q2 earnings, easing crude boost sentiment

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. There were no big moves in the closing session on the Sensex on expiry day. 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. Power Grid Corporation of India (3.42 per cent) rounded out the top five gainers.

 

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, with a turnover of about ₹9,761 crore. Reliance Industries Limited stock advanced 0.8 per cent to close at ₹1,167.40.

 

Trent was the biggest loser, falling 1.79 per cent to ₹2,861.70. The stock fell even as the Tata group 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. The company will be appointing Bahram Vakil as his successor.

 

Tata, who has been associated with Trent since 1997, will be designated Chairman Emeritus from November 12, according to a filing with the stock exchanges.

 

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.

 

“Indian 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. “(The market is up) in anticipation of Diwali (and seasonal festive) demand and the Budget. 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 having said that, 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.

 

Among the Nifty Realty constituents, DLF led with a 4.21 per cent jump, followed by Lodha (3.84 per cent) and Phoenix Mills (3.72 per cent). However, four of the 10 stocks ended lower, including Brigade Enterprises, which fell 1.41 per cent and Sobha, which declined 0.86 per cent.

 

Gains in Nifty FMCG came amid recent government announcements which could support consumption, according to Khemka. “The three percentage point hike in dearness allowance, announced by the government recently, may provide a modest boost to household disposable income and consumption spending,” he said.