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IT, oil & gas and private bank shares declined while buying interest emerged in media, pharma and PSU Bank stocks.
At 09:25 IST, the barometer index, the S&P BSE Sensex declined 280.75 points or 0.38% to 73,326. The Nifty 50 index fell 56.15 points or 0.25% to 22,699.80.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index advanced 0.44% and the BSE 250 SmallCap Index rose 0.76%.
The market breadth was positive. On the BSE, 2,173 shares rose and 821 shares fell. A total of 195 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,462.49 crore, while domestic institutional investors (DIIs) were net buyers of Rs 2,609.57 crore in the Indian equity market 26 October 2026, according to provisional data.
Numbers to Track:
The yield on India's 10-year benchmark federal paper remains unchanged at 7.482.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.1350 compared with its close of 95.1500 during the previous trading session.
MCX Gold futures for the 4 December 2026 settlement fell 0.18% to Rs 1,42,815.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 102.04.
The United States 10-year bond yield declined 0.34% to 4.965.
In the commodities market, Brent crude for the December 2026 settlement declined 88 cents or 0.76% to $114.93 a barrel.
Stocks in Spotlight:
One 97 Communications (Paytm) shed 0.13%. The company reported a consolidated net profit of Rs 226 crore in Q2 FY27 as against Rs 21 crore in Q2 FY26. Revenue from operations jumped 28.48% YoY to Rs 2,648 crore from Rs 2,061 crore.
Nazara Technologies fell 1.69%. The company reported a consolidated net profit of Rs 35.36 crore in Q2 FY27 as against a net loss of Rs 33.9 crore in Q2 FY26. Revenue from operations surged 52.55% YoY to Rs 803.2 crore from Rs 526.5 crore.
REC declined 2.85% after the company reported a 21.22% decline in consolidated net profit to Rs 3,477.7 crore in Q2 FY27 as against Rs 4,414.9 crore in Q2 FY26. Net interest income (NII) declined 9.03% YoY to Rs 5,478.4 crore from Rs 6,022 crore.
Global Markets:
Dow futures rose 99 points, signalling a higher opening for US stocks.
Asian equities traded mixed on Tuesday, as the filing for artificial intelligence company Anthropic's planned initial public offering revived appetite for technology stocks ahead of a busy week of corporate earnings and central bank decisions.
South Korea's economy grew 3.4% year on year in the third quarter of 2026, slowing from 3.7% in the previous quarter, preliminary data from the Bank of Korea showed on Tuesday. GDP expanded 1.0% quarter on quarter, accelerating from 0.6% in the April-June quarter. Semiconductor exports and investment in production equipment supported the expansion, although private consumption fell 0.2% quarter on quarter.
Wall Street ended higher on Monday, 26 October 2026. The Dow Jones Industrial Average rose 146.42 points, or 0.28%, to 52,361.58. The S&P 500 gained 53.09 points, or 0.70%, to 7,676.77, while the Nasdaq Composite advanced 214.04 points, or 0.83%, to 26,169.38. The Philadelphia Semiconductor Index climbed 2.8%, marking its biggest one-day gain in a month, as chip-related shares led the recovery. The technology sector gained 1.5%, leading the S&P 500's 11 major sectors.
Anthropic's IPO filing helped revive the AI trade by highlighting rapid revenue growth alongside the substantial costs and risks of developing advanced AI systems. The company's first-half 2026 net loss widened to $80.7 billion, largely because of a non-operating accounting item related to convertible bonds. Its operating loss narrowed to $693 million, while adjusted operating income turned positive at $1.62 billion, compared with a loss of $1.85 billion a year earlier. Revenue grew 1,368% year on year in the three months ended 30 June 2026. The filing also highlighted risks linked to infrastructure costs, cloud-provider dependence and AI safety.
Individual stocks reflected renewed interest in AI infrastructure. Lumentum gained about 8% and Coherent rose around 6%, while Tesla advanced 5.2% after a Barclays upgrade. Meta Platforms fell 1.9% after announcing plans to raise up to $95 billion through equity offerings to fund its AI infrastructure expansion. The fundraising includes about $35 billion in public offerings and a separate share-sale programme of up to $60 billion. Meta's plans underscore investor scrutiny of the financing required to sustain AI-related capital expenditure.
Economic data offered a mixed signal on US activity and price pressures. The Dallas Federal Reserve's general business activity index rose to 13.4 in October from 9.8 in September, exceeding the 8.8 consensus forecast. However, the production index fell to 15.8 from 29.5, and the new-orders index declined to 9.3 from 30.7. The survey also showed the raw-materials price index rising to 55.3 from 52.2, pointing to continued input-cost pressure.
The development follows the cancellation of PPBL's banking licence by the RBI with effect from the close of business on 24 April 2026. The central bank had cited regulatory violations, concerns relating to depositor interest and governance, and non-compliance with licensing conditions.
Following the licence cancellation, PPBL's board approved the winding-up of the payments bank. One 97 Communications had said the development would have no financial or business impact on the company, as it had no exposure to PPBL or material business arrangements with the entity. The company had also said its investment in PPBL was fully impaired as of 31 March 2024.
One 97 Communications had further said that its Paytm app, UPI, payment gateway, QR, Soundbox and Paytm Money services would continue to operate without interruption as they were not dependent on PPBL.
The company had also stated that PPBL operated as a separate entity, with no board or management overlap with One 97 Communications. Upon the winding-up order becoming effective, PPBL was to cease to be an associate company of One 97 Communications.
One 97 Communications operates Paytm, a digital payments and financial services platform offering merchant payments, financial services distribution, lending, insurance and wealth management products.
The digital payments and financial services company reported a consolidated net profit of Rs 220 crore in Q1 FY27, up 78.86% YoY and 20.22% QoQ. Revenue from operations rose 27.63% YoY and 8.13% QoQ to Rs 2,448 crore in the quarter ended 30 June 2026. EBITDA surged 181.94% YoY and 53.79% QoQ to Rs 203 crore, while EBITDA margin expanded to 8% from 4% in Q1 FY26 and 6% in Q4 FY26.
Further, the company has also completed today the additional investment of Rs 100 crore in its wholly owned subsidiary, Paytm Money (PML), by way of subscription to the rights issue of equity shares of PML.
In the cash market, the Nifty 50 index advanced 99 points or 0.43% to 23,217.60.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 1.58% to 13.22.
HDFC Bank, Patanjali Foods and One 97 Communications (Paytm) were the top-traded individual stock futures contracts in the F&O segment of the NSE.
The September 2026 F&O contracts will expire on 29 September 2026.
In August, a promoter-linked entity sold shares worth about Rs 2,949 crore, while other early investors have also pared their stakes through block deals.
The rally in Paytm shares was also fuelled by reports that the digital payments company is expanding into a new artificial intelligence (AI) business to boost revenue growth.
Media reports said Paytm is expanding into agentic AI through a new offering called Paytm Intelligence, or Pi. The company plans to sell AI agents to enterprise customers that can handle tasks across sales, customer service and operations. The initial target market includes banks, smaller lenders, insurers and other financial institutions in India and the UAE.
Paytm has reportedly been developing a financial-services AI model for about two years, using financial and customer-behaviour data to build capabilities in areas such as fraud detection, credit assessment and claims analysis.
Separately, some reports said AI agents could soon be allowed to make UPI payments on behalf of users under a proposed framework with safeguards around consent, authentication and transaction limits. This could create a new interface between AI assistants and India's digital payments ecosystem.
There is also a broader positive backdrop around the stock. A foreign broker recently raised its Paytm target price to Rs 2,200 from Rs 1,500, citing potential upside from a possible UPI merchant discount rate and improving business prospects.