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The central bank said the Indian economy remained resilient, with real GDP growth at 7.8% in Q1 FY27, supported by private consumption, fixed investment, a rebound in merchandise exports and sustained services exports. The RBI raised its FY27 real GDP growth forecast to 7.1% from 6.7% projected in its August policy review. It also revised upward its Q2 and Q3 growth projections to 7.2% and 6.9%, respectively, from 6.4% and 6.5% earlier.
Going ahead, market participants will track the September-quarter earnings season, which kicked off with results from GM Breweries and IT bellwether Tata Consultancy Services (TCS). Investors will also monitor sector-specific business updates, stock-specific developments and movements in the Indian rupee for further cues on market direction. Investors will track foreign institutional investors (FIIs) flows.
In the week ended on Friday, 9 October 2026, the S&P BSE Sensex jumped 562.63 points or 0.78% to settle at 72,472.33. The Nifty 50 index gained 98.50 points or 0.44% to settle at 22,520.45.
Weekly Index Movement:
The key equity benchmarks ended higher on Monday, snapping a four-session losing streak as easing crude oil prices, softer US jobs data and buying across sectors improved investor sentiment. The S&P BSE Sensex rose 472.77 points, or 0.66%, to 72,382.47, while the Nifty 50 index gained 133.80 points, or 0.60%, to 22,555.75. Over the previous four sessions, the Sensex and Nifty had declined 2.69% and 3.11%, respectively.
The key equity benchmarks ended sharply higher on Tuesday, extending gains for a second consecutive session. The firmness was supported by positive global cues, easing crude oil prices and strong quarterly business updates from several companies. The S&P BSE Sensex jumped 685.34 points or 0.95% to 73,067.81. The Nifty 50 index rose 220.35 points or 0.98% to 22,776.10. Over two consecutive sessions, the Sensex and Nifty have jumped 1.61% and 1.58%, respectively.
The key equity indices ended with significant losses on Wednesday, tracking weak global cues. Investor sentiment remained cautious after the Reserve Bank of India (RBI) raised the policy repo rate by 25 basis points to 5.50% and shifted its monetary policy stance to calibrated tightening. The S&P BSE Sensex declined 429.11 points or 0.59% to 72,638.70. The Nifty 50 index fell 173.05 points or 0.76% to 22,603.05. In the past two consecutive sessions, the Sensex and Nifty have jumped 1.61% and 1.58%, respectively.
Domestic equity market suffered a sharp selloff on Thursday, with benchmark indices falling to their lowest levels in 18 months as surging crude prices, a hawkish monetary policy stance and weak global cues weighed on investor sentiment. The S&P BSE Sensex tumbled 1,045.46 points or 1.44% to 71,593.24. The Nifty 50 index tanked 371.25 points or 1.64% to 22,231.80. In the two consecutive trading sessions, the Sensex declined 2.02%, while the Nifty 50 fell 2.39%.
The key equity indices ended with a major gains on Friday, snapping a two-session losing streak, as easing crude oil prices and improved global sentiment lifted investor appetite following Thursday’s sharp selloff. The barometer index, the S&P BSE Sensex jumped 879.09 points or 1.23% to 72,472.33. The Nifty 50 index added 288.65 points or 1.30% to 22,520.45.
RBI hikes repo rate by 25 bps:
The RBI Monetary Policy Committee (MPC) unanimously raised the repo rate by 25 basis points to 5.50% from 5.25%, in line with expectations, after its three-day meeting on 5-7 October. The RBI raised the repo rate for the first time in nearly three years and changed its policy stance from neutral to calibrated tightening. The Standing Deposit Facility (SDF) rate was raised to 5.25%, while the Marginal Standing Facility (MSF) rate and bank rate remained unchanged at 5.75%.
Economy:
The World Bank raised India’s FY27 GDP growth forecast to 7.1% from 6.6%, citing resilient domestic demand and strong momentum in consumption, investment and exports. Investment and exports grew around 12% in Q1 FY27, while services remained the largest driver of domestic growth. The bank also raised its 2026 South Asia growth forecast to 6.9% from 6.3%, while lowering the forecast for the region excluding India to 3.6% from 4.1%. Higher energy prices and El Niño remain key risks to the outlook.
Meanwhile, India’s services sector strengthened in September, with the seasonally adjusted HSBC India Services PMI Business Activity Index rising to 55.2 from 54.1 in August, marking the strongest growth since June. However, the average growth during Q2 FY27 was the weakest since the quarter ended March 2022. The improvement was supported by stronger domestic demand, while export business continued to expand at a slower pace. Input-cost pressures eased to a 10-month low, reducing the need for price increases, while service providers’ expectations for future activity improved for the second consecutive month.
Stocks in Spotlight:
Tata Consultancy Services (TCS) jumped 3.90%. The IT major reported a 1.3% quarter-on-quarter and 11.2% year-on-year increase in consolidated revenue to Rs 73,188 crore in Q2 FY27. Constant-currency revenue growth stood at 0.5% QoQ. Net profit rose 4.01% QoQ and 14.98% YoY to Rs 13,884 crore, with a net margin of 19%. The company reported an operating margin of 24% in Q2 FY27.
The company's total contract value (TCV) stood at $9.6 billion in Q2 FY27, up from $9.5 billion in Q1 FY27 but down from $12 billion in Q4 FY26.
The company declared a dividend of Rs 12 per share. The record date is 14 October 2026, and the dividend will be paid on 30 October 2026.
Titan Company fell 2.34%. The company reported its provisional business update for Q2 FY27. The company said its consumer businesses recorded 25% year-on-year growth during the quarter ended 30 September 2026. It added 78 net stores during the quarter, taking its combined retail network to 3,758 stores. The jewellery business saw a moderation in growth from 39% in Q1 FY27 to around 21% in Q2 FY27.
Kalyan Jewellers India gained 4.82%. The jewellery retailer reported consolidated revenue growth of more than 26% year-on-year (YoY) in Q2 FY27, supported by strong operating momentum across its key markets. Revenue from the company's India operations grew approximately 27% YoY during the quarter, with same-store sales growth (SSSG) of around 20%, despite a high base in the year-ago period due to strong Navratri sales.
Trent surged 13.11%. The company's standalone revenue from operations, excluding GST, rose 23% year on year to Rs 5,788 crore in Q2 FY27 from Rs 4,724 crore in Q2 FY26. Revenue for the first half of FY27 increased 21% to Rs 11,454 crore from Rs 9,505 crore in the corresponding period a year earlier. Trent crossed the 1,000-store milestone for its Zudio format during the quarter. As of 30 September 2026, the company's portfolio stood at 1,342 stores across Westside, Zudio and other lifestyle brands.
Raymond Realty surged 7.64%. The company reported a 98% year-on-year (YoY) increase in pre-sales to Rs 902 crore in Q2 FY27, compared with Rs 455 crore in Q2 FY26.
Tata Motors Passenger Vehicles rose 0.18%. The company’s wholly owned subsidiary, Jaguar Land Rover (JLR), reported a 24.54% year-on-year (YoY) increase in wholesales to 82,400 units in Q2 FY27 from 66,165 units in Q2 FY26.
FSN E-Commerce Ventures (Nykaa) jumped 5.55%. The company provided a quarterly business update for Q2 FY27, indicating continued growth across its Beauty and Fashion verticals. Consolidated gross merchandise value (GMV) is expected to grow in the high-twenties range in Q2 FY27, while net sales value (NSV) growth is expected to be in the early-thirties range. Consolidated net revenue growth is expected to be in the late-twenties range.
Global Markets:
Europe Market:
Eurozone business activity strengthened in September, with the Services Purchasing Managers’ Index (PMI) rising to 53.0 from 51.6 in August. The Composite PMI increased to 53.1 from 52.0, reaching its highest level since April 2023.
Industrial producer prices in the euro are and EU rose 1.9% month-on-month in August.
In the United Kingdom, the Services PMI eased to 52.1 in September from 52.5 in August, while the Composite PMI declined to 52.0 from 52.5, signalling a moderation in private-sector business activity.
Asian Market:
In Japan, consumer confidence edged lower to 35.4 in September 2026, compared with 35.5 in August 2026. The Services PMI declined to 51.3 in September 2026, down from 52.5 in August 2026.
In Singapore, retail sales fell 1.0% month-on-month while, increasing 0.7% year-on-year in August 2026.
Philippines September headline inflation accelerated to 7.2% in September 2026 from 6.1% in August, while core inflation rose to 4.7% from 4.1%, indicating intensifying price pressures.
US Market:
US nonfarm payroll employment increased by 29,000 in September, well below economists' expectations of 90,000. The unemployment rate rose to 4.2% from 4.1% in August. Payroll gains for July and August were revised lower by a combined 60,000.
The weaker-than-expected jobs data reduced expectations of a 25-basis-point Fed rate hike at the end of October. CME FedWatch showed the probability of a hike at 22.7%, down from 24.4% in the previous session and 64.2% a week earlier.
The release of minutes from the Federal Reserve's September meeting also weighed on sentiment. The minutes showed that all 19 policymakers supported the September rate hike, while most officials considered another rate increase likely to be appropriate by the end of the year. However, the minutes also showed differences among policymakers over the inflation outlook and the need for further rate increases.
The US trade deficit widened sharply in August to $105.6 billion, up 13.7% from the previous month and the largest since March 2025. The increase was driven largely by a jump in imports, including crude oil, semiconductors and other goods, with imports reaching a record level.
Shares of Bandhan Bank, Birlasoft, GNFC, Granules India, Hindustan Copper, Manappuram Finance, and RBL Bank barred from F&O trading on 7 October 2026.
Stocks To Watch:
Banking, auto and interest rate-sensitive stocks will be in focus as the Reserve Bank of India’s Monetary Policy Committee (MPC) will announce its policy decision today.
Titan Company: Titan Company's consumer businesses registered a 25% year-on-year (YoY) growth in the second quarter of FY27. Its domestic business grew 22% YoY, while the jewellery business across all brands recorded 21% growth. The watches business posted a robust 30% YoY growth during the quarter.
Utkarsh Small Finance Bank: The bank's total deposits increased 6.6% YoY to Rs 23,869 crore in Q2 FY27. Total disbursements climbed 54.9% YoY to Rs 3,525 crore during the quarter.
Asian Paints: The company's board will meet on 29 October 2026 to consider an interim dividend and approve the audited standalone and consolidated financial results for the quarter ended 30 September 2026.
Asset Reconstruction Company (India) (ARCIL): The company's consolidated net profit rose 54.16% YoY to Rs 89.15 crore in Q2 FY27, compared with Rs 57.83 crore in the corresponding quarter of the previous financial year. Revenue from operations surged 115.36% YoY to Rs 234.74 crore in the quarter ended 30 June 2026.
Kanohar Electricals: The company's consolidated net profit surged 140.04% YoY to Rs 27.34 crore in Q1 FY27, compared with Rs 11.39 crore in Q1 FY26. Revenue from operations soared 103.49% YoY to Rs 137.07 crore during the quarter.
Mahindra Lifespace Developers: The company launched Mahindra Rivenza, a residential project spread across 13.46 acres in Baner Annex, Mahalunge, Pune, with an estimated gross development value (GDV) of around Rs 3,500 crore. Phase I of the project will offer 1,236 residential units across 2, 3 and 4 BHK configurations.
Veegaland Developers: The company's standalone net profit surged 202.8% YoY to Rs 9.72 crore in Q1 FY27, compared with Rs 3.21 crore in Q1 FY26. Revenue from operations climbed 79.08% YoY to Rs 74.32 crore during the quarter.
The jewellery business saw a moderation in growth from 39% in Q1 FY27 to around 21% in Q2 FY27.
Titan said consumer demand remained healthy for most of the quarter, although it softened towards the end as the festive calendar shifted towards Q3 FY27. Studded jewellery grew in the early thirties, while plain gold jewellery grew around 20%. Buyer growth was in the mid-single digits, while average ticket sizes increased by double digits.
The watches business grew around 30% year-on-year, supported by premiumisation. Analog watches recorded growth in the early thirties, while the smartwatches business posted high single-digit growth.
The EyeCare division grew around 28% year-on-year, driven by its multi-brand strategy, upgrades to its existing store network and a sharper merchandise portfolio.
Among emerging businesses, fragrances grew in the mid-thirties, women's bags increased in the twenties, while Taneira recorded high single-digit growth.
Titan's international jewellery businesses, comprising Tanishq, Mia and CaratLane, continued to record double-digit growth in North America. The company said its GCC business remained resilient amid geopolitical volatility, with Tanishq showing improving growth and Damas showing early signs of recovery.
The company added 42 net jewellery stores during the quarter, taking the total jewellery store count to 1,269. The watches business added 34 stores, taking its network to 1,379, while EyeCare had 847 stores.
Meanwhile, a foreign brokerage has retained its 'Buy' rating on Titan Company with a target price of Rs 5,425. The brokerage noted that Titan is currently trading at 53x its March 2028 estimated earnings per share (EPS) of Rs 86.1.
The brokerage expects Titan's jewellery business to face a high base in the coming quarters, as the company will be comparing against growth of 40% in Q3, 45% in Q4 and 38% in Q1. It also expects the benefit from elevated gold prices to moderate if prices remain at current levels, which could result in an optical moderation in revenue growth on a quarter-on-quarter basis from Q3 onwards.
Despite these near-term factors, the brokerage expects Titan to report consolidated FY27 estimated sales growth of 19% and EBIT growth of 23%. It has retained its estimates for consolidated jewellery sales and EBIT compound annual growth rates (CAGR) of 19% and 18%, respectively, over FY26-FY30, indicating continued expectations of strong growth.
The brokerage said any optical moderation in sales growth due to the high base, along with a consequent correction in Titan's share price, could provide an opportunity for investors to accumulate the stock. It continues to include Titan among its top sector picks and forecasts an EPS CAGR of 22% over FY26-FY29. The brokerage values Titan at 60x its June 2028 estimated EPS, with all estimates unchanged.
Titan Company is a leading lifestyle company and a joint venture between the Tata Group and TIDCO. Established in 1987, it operates across jewellery, watches, eyewear and other lifestyle categories through brands such as Tanishq, Titan, Titan Eye+, Skinn, Taneira, Irth and beYon, and is known for pioneering organised retail and premium consumer brands in India.
On a consolidated basis, the company's profit after tax increased 62.9% YoY to Rs 1,777 crore in Q1 FY27. Total income rose 29.3% YoY to Rs 21,502 crore during the quarter.
Titan Company Ltd fell 2.71% today to trade at Rs 4416.8. The BSE Consumer Durables index is down 1.62% to quote at 57664.48. The index is down 8.3 % over last one month. Among the other constituents of the index, Asian Paints Ltd decreased 1.46% and Voltas Ltd lost 1.39% on the day. The BSE Consumer Durables index went down 1.94 % over last one year compared to the 10.94% fall in benchmark SENSEX.
Titan Company Ltd has lost 11.47% over last one month compared to 8.3% fall in BSE Consumer Durables index and 4.16% drop in the SENSEX. On the BSE, 11831 shares were traded in the counter so far compared with average daily volumes of 34289 shares in the past one month. The stock hit a record high of Rs 5187.45 on 27 Aug 2026. The stock hit a 52-week low of Rs 3400.9 on 06 Oct 2025.
Crompton Greaves Consumer Electricals Ltd lost 0.73% today to trade at Rs 210. The BSE Consumer Durables index is down 0.49% to quote at 58003.15. The index is down 8.29 % over last one month. Among the other constituents of the index, Titan Company Ltd decreased 0.68% and Havells India Ltd lost 0.67% on the day. The BSE Consumer Durables index went down 1.08 % over last one year compared to the 11.35% fall in benchmark SENSEX.
Crompton Greaves Consumer Electricals Ltd has lost 9.89% over last one month compared to 8.29% fall in BSE Consumer Durables index and 5.24% drop in the SENSEX. On the BSE, 5761 shares were traded in the counter so far compared with average daily volumes of 1.49 lakh shares in the past one month. The stock hit a record high of Rs 310.65 on 15 May 2026. The stock hit a 52-week low of Rs 201.1 on 01 Oct 2026.
Asian Paints Ltd rose 1.17% today to trade at Rs 2472.9. The BSE Consumer Durables index is up 0.48% to quote at 61284.06. The index is down 5.73 % over last one month. Among the other constituents of the index, Kalyan Jewellers India Ltd increased 0.61% and Titan Company Ltd added 0.49% on the day. The BSE Consumer Durables index went up 1.38 % over last one year compared to the 9.08% fall in benchmark SENSEX.
Asian Paints Ltd has lost 6.03% over last one month compared to 5.73% fall in BSE Consumer Durables index and 3.52% drop in the SENSEX. On the BSE, 1088 shares were traded in the counter so far compared with average daily volumes of 17707 shares in the past one month. The stock hit a record high of Rs 2985.5 on 04 Dec 2025. The stock hit a 52-week low of Rs 2116 on 23 Mar 2026.
Asian Paints Ltd gained 2.13% today to trade at Rs 2456.25. The BSE Consumer Durables index is up 0.95% to quote at 60819.64. The index is down 6.83 % over last one month. Among the other constituents of the index, Dixon Technologies (India) Ltd increased 1.44% and Titan Company Ltd added 1.13% on the day. The BSE Consumer Durables index went down 0.54 % over last one year compared to the 9.79% fall in benchmark SENSEX.
Asian Paints Ltd has lost 6.97% over last one month compared to 6.83% fall in BSE Consumer Durables index and 3.88% drop in the SENSEX. On the BSE, 273 shares were traded in the counter so far compared with average daily volumes of 18051 shares in the past one month. The stock hit a record high of Rs 2985.5 on 04 Dec 2025. The stock hit a 52-week low of Rs 2116 on 23 Mar 2026.
Market participants are assessing a slew of Q1 FY27 earnings announcements, with sector- and stock-specific movements remaining in focus amid the ongoing earnings season while keeping a close watch the progress of the monsoon. The Nifty traded below the 24,500 level.
Investors are closely tracking the domestic inflation data due on Wednesday, alongside crude oil price movements and developments on the global geopolitical front, for further cues on the market’s near-term direction.
Media, FMCG and metal shares declined while consumer durables, IT and PSU Bank shares advanced.
At 13:25 IST, the barometer index, the S&P BSE Sensex declined 368.68 points or 0.47% to 78,173.09. The Nifty 50 index dropped 121.25 points or 0.49% to 24,462.70.
In the broader market, the BSE 150 MidCap Index declined 0.10% and the BSE 250 SmallCap Index added 0.27%.
The market breadth was negative. On the BSE, 1,958 shares rose and 2,221 shares fell. A total of 223 shares were unchanged.
Gainers & Losers:
Dr Reddy Laboratories (up 3.09%), Titan Company (up 1.06%), Tata Consultancy Services (TCS) (up 0.60%), HCL Technologies (up 0.53%) and Infosys (up 0.51%) were the top gainers.
Max Healthcare (down 2.69%), Tata Consumer Products (down 2.21%), SBI Life Insurance Company (down 2.01%), Apollo Hospitals Enterprise (down 2%) and Nestle India (down 1.83%) were the top losers.
Triveni Turbine declined 5.77% after the company reported a 20.78% decline in consolidated net profit to Rs 51.1 crore, despite a 19.23% increase in revenue from operations to Rs 442.7 crore in Q1 FY27 over Q1 FY26.
Vodafone Idea rose 2.09% after reporting a strong operational performance for the quarter ended 30 June 2026. On a consolidated basis, adjusted net loss narrowed to Rs 5361.99 crore in Q1 FY27, from a loss of Rs 6608.1 crore in Q1 FY26 and a loss of Rs 5513 crore in Q4 FY26. Revenue from operations rose 6.0% YoY and 3.2% QoQ to Rs 11,689 crore during the quarter.
Bharat Forge fell 1.62% after the company reported a consolidated net loss of Rs 89.73 crore in Q1 FY27 as against a net profit of Rs 283.68 crore in Q1 FY26. Revenue for the period under review was Rs 4,639.94 crore, up 18.7% YoY.
Kolte-Patil Developers surged 15.95% after reporting strong financial performance for the quarter ended 30 June 2026. On a consolidated basis, adjusted net profit stood at Rs 146.26 crore in Q1 FY27, compared with an adjusted net loss of Rs 16.99 crore in Q1 FY26 and Rs 15.98 crore in Q4 FY26. Net sales rose 1,016.5% YoY and 269.9% QoQ to Rs 919.54 crore during the quarter.
Bosch rallied 4.49%. The company reported 36.8% fall in consolidated net profit to Rs 704.90 crore in Q1 FY27, down 36.80% from Rs 1,115.30 crore in Q1 FY26. Revenue for the period under review was Rs 5,841.90 crore, up 22% YoY. The growth in revenue was driven by higher demand in passenger cars and off-highway segment
Global Market:
European market declined amid renewed US Iran tensions along with weak UK retail data. UK retail sales growth slowed sharply in July, with total sales rising 1.3% YoY, compared with 2.5% growth a year earlier and 1.9% in June 2026. Food sales increased 3.8%, supported by the tail-end of the World Cup, while non-food sales declined 0.7%.
Asian market traded mixed on Tuesday as uncertainty continued to prevail over the global inflation outlook.
Oil prices jumped as negotiations between the U.S. and Iran over a peace deal and the reopening of the Strait of Hormuz hit an impasse.
U.S. President Donald Trump on Monday responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the crucial waterway.
Earlier, Iran had called for Washington to meet conditions, including recompensing Tehran for the damage caused since the U.S. and Israel launched strikes on its territory more than five months ago.
Following this development, brent crude futures rises nearly $88 per barrel and U.S. crude futures ticked up to $82.42, both the highest levels since July 31, after the contracts rallied roughly 5% on Monday.
The latest uptick in fuel costs raises the stakes for the U.S. July consumer price report due on Wednesday, where expectations are for a monthly rise of 0.1% in the headline reading and 0.2% for the core measure.
Any upside surprise could rekindle bets of a Federal Reserve rate hike next month, with the odds currently a coin toss.
Overnight on Wall Street, the Nasdaq and S&P 500 closed lower on Monday, with declines in Intel and other chipmakers, as investors became less confident about a deal to reopen the Strait of Hormuz.
The S&P 500 declined 0.06% to end the session at 7,753.12 points. The Nasdaq declined 0.32% to 26,605.36 points, while the Dow Jones Industrial Average declined 0.11% to 53,976.04 points.