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Further, The rally was driven by buying in heavyweight stocks and optimism surrounding September-quarter earnings, despite persistent concerns in global markets over AI-related debt and intensifying competition in the semiconductor industry.
Private bank, IT and auto shares advanced while PSU Bank, media and FMCG shares declined.
As per provisional closing data, the S&P BSE Sensex surged 1,533.72 points or 2.11% to 74,315.61. The Nifty 50 index jumped 374.65 points or 1.66% to 22,997.35.
In the broader market, the BSE 150 Midcap Index shed 0.48% and the BSE 250 Smallcap Index declined 1.4%.
The market breadth was weak. On the BSE, 1,716 shares rose and 2,670 shares fell. A total of 214 shares were unchanged.
In the commodities market, Brent crude for December 2026 settlement dropped $2.44 or 2.30% to $103.62 a barrel. The United States 10-year bond yield tumbled 2.10% to 5.080.
Initial Public Offer (IPO)
HD Fire Protect received bids for 2,31,12,77,760 shares as against 1,84,20,492 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 125.47 times.
The issue opened for bidding on 13 October 2026 and will close on 15 October 2026. The price band of the IPO is fixed between Rs 258 and 271 per share. An investor can bid for a minimum of 55 equity shares and multiples thereof.
Fusion CX received bids for 1,39,47,939 shares as against 1,40,40,000 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 0.99 times.
The issue opened for bidding on 14 October 2026 and will close on 16 October 2026. The price band of the IPO is fixed between Rs 275 and 289 per share. An investor can bid for a minimum of 51 equity shares and multiples thereof.
Tonbo Imaging India received bids for 3,09,16,242 shares as against 85,26,033 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 3.63 times.
The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 665 and 700 per share. An investor can bid for a minimum of 21 equity shares and multiples thereof.
Zetwerk Manufacturing Business received bids for 2,29,76,415 shares as against 18,50,66,845 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 0.12 times.
The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 143 and 151 per share. An investor can bid for a minimum of 99 equity shares and multiples thereof.
Sahajanand Medical Technologies received bids for 28,37,871 shares as against 97,50,482 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 0.29 times.
The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 327 and 344 per share. An investor can bid for a minimum of 43 equity shares and multiples thereof.
Bonfiglioli Transmissions received bids for 1,24,72,800 shares as against 3,02,82,330 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 0.41 times.
The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 558 and 586 per share. An investor can bid for a minimum of 25 equity shares and multiples thereof.
Buzzing Index:
The Nifty Private Bank index jumped 1.89% to 27,679.30. The index declined 0.58% in the past trading session.
ICICI Bank (up 3.18%), HDFC Bank (up 1.9%), IndusInd Bank (up 1.88%), Kotak Mahindra Bank (up 1.81%), Axis Bank (up 1.67%), Bandhan Bank (up 0.81%), Federal Bank (up 0.39%), IDFC First Bank (up 0.14%) advanced.
Stocks in Spotlight:
Reliance Industries rose 2.90% after its subsidiary, Jio Platforms, filed the Red Herring Prospectus (RHP) for its proposed initial public offering (IPO) and announced the price band.
Jio Platforms has fixed the IPO price band at Rs 1,065-1,119 per equity share. Eligible employees bidding under the employee reservation portion will receive a discount of Rs 54 per share. The minimum bid lot is 12 equity shares, with bids accepted in multiples of 12 shares. The proposed IPO comprises a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each.
Reliance Industries will retain a controlling 66.43% stake in Jio Platforms. As of 31 March 2026, Reliance Industries held 593.78 crore shares in the company.
Nestle India fell 7.52%. The company reported a 35.9% YoY increase in consolidated net profit to Rs 1,009.61 crore in Q2 FY27, compared with Rs 743.17 crore in Q2 FY26. Revenue from operations rose 20.2% YoY to Rs 6,788.34 crore from Rs 5,643.61 crore. Sequentially, net profit increased 5.3% from Rs 958.68 crore in Q1 FY27, while revenue from operations rose 6.7% from Rs 6,378.18 crore.
Tata Technologies shed 0.68% after a sequential decline in net income in Q2 September 2026. On a consolidated basis, the company reported a 3.6% YoY increase in net income to Rs 171.4 crore and a 28.4% rise in revenue from operations to Rs 1,698.8 crore in Q2 FY27. Sequentially, net income declined 5.2%, while revenue increased 2.1% during the quarter.
Hathway Cable Datacom dropped 6.73% after the company reported a 44.3% year-on-year (YoY) decline in consolidated net profit to Rs 10.21 crore in Q2 FY27, compared with Rs 18.26 crore in Q2 FY26. Revenue from operations increased 5.75% YoY to Rs 567.51 crore in the quarter ended 30 September 2026.
Global Markets:
Dow Jones futures climbed 166 points, signalling a positive opening for US equities.
European equities advanced on Thursday as stronger-than-expected UK economic growth data offset concerns over a global technology sell-off and hotter-than-expected US inflation. The UK economy grew 0.1% in August, against forecasts for a 0.1% contraction, according to the Office for National Statistics (ONS).
Meanwhile, Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Tehran did not seek an endless war or prolonged negotiations with the United States but would continue fighting until Washington accepted its demands.
Asian equities ended lower as the technology sell-off intensified. South Korea's Kospi plunged 7.57% to close at 5,554.22, while Japan's Nikkei 225 also recorded steep losses. Semiconductor stocks faced heavy selling pressure, with Samsung Electronics and SK Hynix among the major decliners.
The sell-off reflected concerns over the sustainability of AI-related investment and intensifying competition in the semiconductor industry. Reports of advances by Chinese memory-chip maker ChangXin Memory Technologies (CXMT) added to concerns over competition and potential pricing pressure in the global memory-chip market.
US equities ended lower on Wednesday, with technology shares accounting for much of the decline. The Nasdaq Composite dropped 1.88% to 26,692.87, while the S&P 500 fell 1.11% to 7,718.94. The Dow Jones Industrial Average slipped 0.09% to 51,621.48.
According to the US Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 0.6% in September from August, following a 0.4% increase in August. Annual inflation accelerated to 3.7% from 3.4%. Gasoline prices rose 9.1% during the month, accounting for more than half of the monthly increase in the overall index.
Core CPI, which excludes food and energy, increased 0.3% month on month and 2.6% year on year, compared with 2.4% in August. The stronger inflation reading heightened concerns over persistent price pressures and the possibility of interest rates remaining elevated for longer.
The IPO will open for subscription on 21 October 2026 and close on 23 October 2026. The anchor investor bidding date is 19 October 2026.
The issue includes a reservation of shares worth up to Rs 500 crore for eligible employees and up to Rs 2,500 crore for eligible shareholders of Reliance Industries. Shareholder eligibility is determined based on holdings as of 14 October 2026, the date the RHP was filed.
The proposed IPO comprises a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each. Jio Platforms received an observation letter from the Securities and Exchange Board of India (SEBI) on its Draft Red Herring Prospectus on 28 August 2026.
Jio Platforms plans to use up to Rs 27,500 crore of the IPO proceeds to repay or prepay, in full or in part, borrowings of Reliance Jio Infocomm, its material subsidiary. The remaining proceeds are proposed to be used for general corporate purposes.
Jio Platforms reported revenue from operations of Rs 1,46,885.30 crore in FY26, up 14.6% from Rs 1,28,218.40 crore in FY25. EBITDA increased 18.8% to Rs 76,255.40 crore from Rs 64,170 crore, while the EBITDA margin improved to 51.91% from 50.05%.
Profit before tax rose 14.9% to Rs 40,353.10 crore in FY26 from Rs 35,127.30 crore in FY25. Profit after tax increased 15.1% to Rs 30,049.10 crore from Rs 26,109 crore a year earlier.
Jio Platforms had a customer base of 524.4 million at the end of FY26, compared with 488.2 million a year earlier. The company houses Reliance Industries' telecom, digital platform and technology businesses.
Reliance Industries is India's largest private-sector company, with operations spanning digital services, retail, oil-to-chemicals, exploration and production, new energy and consumer products.
Reliance Industries' consolidated net profit, including its share of profit from associates and joint ventures, increased 6.12% year on year and 12.66% quarter on quarter to Rs 23,196 crore in Q1 FY27. Gross revenue rose 24.50% year on year and 4.60% quarter on quarter to Rs 3,40,257 crore in the June 2026 quarter.
Reliance Industries Ltd gained for a third straight session today. The stock is quoting at Rs 1211, up 3.1% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.69% on the day, quoting at 23005.5. The Sensex is at 74164.05, up 1.9%. Reliance Industries Ltd has slipped around 2.34% in last one month.
Meanwhile, Nifty Energy index of which Reliance Industries Ltd is a constituent, has slipped around 2.34% in last one month and is currently quoting at 36503.5, down 0.53% on the day. The volume in the stock stood at 122.01 lakh shares today, compared to the daily average of 131.7 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 1212.9, up 2.6% on the day. Reliance Industries Ltd is down 13.39% in last one year as compared to a 10.08% slide in NIFTY and a 2.38% slide in the Nifty Energy index.
The PE of the stock is 40.58 based on TTM earnings ending June 26.
The IPO includes reservation of equity shares of JPL (i) for a value not exceeding Rs. 500 crore for subscription by the Eligible Employees (as defined in the RHP); and (ii) for a value not exceeding Rs.2,500 crore for subscription by the Eligible RIL Shareholders, i.e., Individuals and HUFs (directly or in the name of karta) who are the public equity shareholders of the Company (excluding such persons who are not eligible to invest in the IPO under applicable laws, rules, regulations and guidelines), as on the date of the filing of the RHP by JPL, i.e., 14 October 2026.
The Anchor Investor Bidding Date is Monday, 19 October 2026. The IPO will open for subscription on Wednesday, 21 October 2026 and shall close on Friday, 23 October 2026.
Reliance Industries Ltd is down for a fifth straight session today. The stock is quoting at Rs 1157.6, down 0.11% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.81% on the day, quoting at 22544.1. The Sensex is at 72476.43, up 0.77%.Reliance Industries Ltd has lost around 6.29% in last one month.Meanwhile, Nifty Energy index of which Reliance Industries Ltd is a constituent, has eased around 4.07% in last one month and is currently quoting at 35857.15, down 0.62% on the day. The volume in the stock stood at 74.08 lakh shares today, compared to the daily average of 134.33 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 1163, up 0.24% on the day. Reliance Industries Ltd tumbled 15.87% in last one year as compared to a 10.35% slide in NIFTY and a 1.62% spurt in the Nifty Energy index.
The PE of the stock is 39.99 based on TTM earnings ending June 26.
Hindustan Petroleum Corporation Ltd gained 1.35% today to trade at Rs 330.4. The BSE Oil & Gas index is up 0.71% to quote at 24329.42. The index is down 4.95 % over last one month. Among the other constituents of the index, Adani Total Gas Ltd increased 1.34% and Reliance Industries Ltd added 1.04% on the day. The BSE Oil & Gas index went down 11.09 % over last one year compared to the 11.79% fall in benchmark SENSEX.
Hindustan Petroleum Corporation Ltd has lost 5.87% over last one month compared to 4.95% fall in BSE Oil & Gas index and 2.69% drop in the SENSEX. On the BSE, 7742 shares were traded in the counter so far compared with average daily volumes of 3.03 lakh shares in the past one month. The stock hit a record high of Rs 508.45 on 05 Jan 2026. The stock hit a 52-week low of Rs 316.2 on 23 Mar 2026.
Oil & gas shares jumped for the second consecutive trading sessions.
At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 451.95 points or 0.63% to 72,834.42. The Nifty 50 index gained 130.90 points or 0.58% to 22,686.45.
In the broader market, the Nifty MidCap 150 Index rose 0.66% and the Nifty SmallCap 250 Index added 0.80%.
The market breadth was strong. On the NSE, 2,293 shares rose and 1,116 shares fell. A total of 132 shares were unchanged.
RBI MPC Meeting
The Reserve Bank of India’s (RBI’s) six-member Monetary Policy Committee (MPC) meeting began on 5 October 2026 and will conclude on 7 October 2026. The MPC’s policy decision is scheduled to be announced on 7 October. Investors will closely track the RBI’s stance on key policy rates, as the outcome could have a bearing on market liquidity and investor sentiment.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.78% to 14.07. The Nifty 27 October 2026 futures were trading at 22,767 at a premium of 80.55 points as compared with the spot at 22,686.45.
The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 86.8 lakh contracts at the 23,500 strike price. A maximum put OI of 48.7 lakh contracts was seen at the 22,000 strike price.
The Nifty Oil & Gas index jumped 1.12% to 10,628.30. The index rose 1.46% in the two straight trading sessions.
Reliance Industries (up 2.59%), Petronet LNG (up 2.43%), GAIL (India) (up 2.01%), Hindustan Petroleum Corporation (up 1.88%) and Aegis Logistics (up 1.77%), Chennai Petroleum Corporation (up 0.84%), Adani Total Gas (up 0.83%), Castrol India (up 0.59%), Oil India (up 0.53%) and Indian Oil Corporation (up 0.3%) surged.
In the cash market, the Nifty 50 index dropped 64.05 points or 0.28% to 22,716.20.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 2.32% to 13.32.
HDFC Bank, Reliance Industries and Infosys 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 the cash market, the Nifty 50 index dropped 360.25 points or 1.56% to 22,780.25.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 12.54% to 13.69.
Reliance Industries Ltd fell for a fifth straight session today. The stock is quoting at Rs 1255.2, down 1.48% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.64% on the day, quoting at 23328.5. The Sensex is at 74474.44, down 0.57%.Reliance Industries Ltd has eased around 5.55% in last one month.Meanwhile, Nifty Energy index of which Reliance Industries Ltd is a constituent, has eased around 2.15% in last one month and is currently quoting at 38223.4, down 0.73% on the day. The volume in the stock stood at 48.35 lakh shares today, compared to the daily average of 106.03 lakh shares in last one month.
The benchmark September futures contract for the stock is quoting at Rs 1257.4, down 1.19% on the day. Reliance Industries Ltd tumbled 10.02% in last one year as compared to a 7.11% slide in NIFTY and a 8.6% spurt in the Nifty Energy index.
The PE of the stock is 44 based on TTM earnings ending June 26.