Today’s share market’s key developments include: AstraZeneca to launch a new kidney drug in November 2025, AdaniGreen starts a 50 MW solar project, SBI grants Rs.1,230 Cr to HEG, Marksans Pharma gains UK nod, Welspun Ent plans Rs.1,000 Cr warrants, and FIIs, DIIs record net purchases.
9:50 AM IST
Stock Market LIVE Update | Sensex gains 350 points | Nifty crosses 25,400
Sensex rose over 350 points, and Nifty crossed 25,400 in Thursday’s session, supported by mixed corporate earnings. KEI Industries fell up to 9% to Rs.4,032 despite a 31% Q2 profit rise. HDFC AMC slipped 3% even after reporting a 24.5% yearly increase in profit to Rs.718 crore. Axis Bank surged 4% to Rs.1,217.65 after posting a 26% year-on-year fall in Q2 net profit to Rs.5,090 crore. Adani Power saw a 0.7% stake traded via a block deal.
9:20 AM IST
Stock Market LIVE Update | Sensex climbs over 350 points | Nifty tops 25,400
Equity benchmarks opened higher, with the Sensex climbing over 350 points and the Nifty crossing 25,400. Adani Power saw a 0.7% stake traded via a block deal, while the rupee appreciated 40 paise to 87.68 against the US dollar. RBL Bank’s board will discuss fundraising on October 18 and review Q2 results on Saturday. Torrent Pharma plans a Rs.14,000 crore bond issue to finance its JB Chemicals acquisition. Stocks like Axis Bank, Infosys, and Wipro remain in focus today.
Source: Bajaj Broking Research Desk.
GIFT NIFTY: Gift Nifty suggests a positive opening for the Indian market. Nifty spot in today's session likely to extend previous session consolidation in the range of 25,150-25,450.
INDIA VIX: 10.53 | -0.62 (5.60%) ↓ today
Treasury Yield:
The yield on the U.S. 10-year treasury note edged up by 2.2 basis points to 4.04% whereas the U.S. 2-year treasury yield, which often reflects market expectations for Federal Reserve policy, climbed 2.5 basis points to 3.50%.
Currency:
The Dollar index, which measures the value of the U.S. dollar against other currencies, fell 0.32% to 98.72.
Commodities:
Spot gold rises again to a fresh record high, trading at $4,225/oz.
WTI crude oil futures are up 0.94% at $58.82/bbl, whereas brent crude oil futures are 0.92% higher at $62.48/bbl.
General Trends:
Asia-Pacific markets rose on Thursday, tracking Wall Street gains on strong bank earnings in a volatile trading session.
Sector-Specific Indicator:
Australia's ASX/S&P 200 rose 0.16%. Investors will look to the country's jobs data for September, due out later in the day.
Japan's benchmark Nikkei 225 index jumped 0.95%, while the Topix index added 0.8%.
South Korea's Kospi index advanced 1.09%, while the small-cap Kosdaq traded 0.2% higher.
Hong Kong's Hang Seng Index was set to open lower, with its futures contract trading at 25,848.
Market in the Previous Session:
Indian equity benchmarks ended on a strong footing on October 15, with the Nifty closing above the 25,300 mark. The market staged a rebound after two sessions of decline, aided by dovish remarks from the Fed Chair on interest rates and indications of a possible pause in quantitative tightening, which buoyed global risk sentiment.
At the close, the Sensex rose 575.45 points, or 0.70%, to 82,605.43, while the Nifty gained 178.05 points, or 0.71%, to settle at 25,323.55.
Barring the Media index, all sectoral indices finished in the green, led by a robust 3% rally in Realty stocks. Power, Consumer Durables, PSU Bank, Metal, and Telecom indices advanced between 1–2%, signaling broad-based buying interest.
On the broader market front, the Midcap index climbed 1.11%, while the Small cap index gained 0.82%, underscoring continued strength across the secondary space.
Nifty Short-Term Outlook:
The index formed a bullish candle with a higher high and higher low, indicating a resumption of the uptrend and showing that sellers failed to extend the previous session’s weakness. This points to continued positive momentum.
On Wednesday, the index moved above last week’s high of 25,330, confirming the ongoing pattern of higher highs on the weekly chart and reflecting underlying strength.
We expect the index to continue its upward move towards 25,450–25,500 levels, which aligns with the trendline resistance connecting the major highs of September 2024 and July 2025. Stock-specific action is likely to stay active as Q2FY26 earnings unfold.
Immediate support is placed around 25,000–25,100, near the previous swing low and the 20-day and 50-day EMAs. Sustaining above this zone will maintain a positive short-term outlook.
Intraday Levels:
Nifty: Intraday resistance is at 25,410, followed by 25,500 levels. Conversely, downside support is located at 25,250, followed by 25,160.
Bank Nifty: Intraday resistance is positioned at 57,000, followed by 57,270, while downside support is found at 56,610, followed by 56,350.
Nifty:
Significant Put OI addition was observed at 25,300 and 25,200, indicating a strong support base at these levels.
On the higher side, the highest Call OI is placed at 26,000, while immediate Call OI concentration is seen at 25,500, marking it as the immediate resistance zone. A decisive move above 25,500 could trigger short covering, pushing the index toward 25,700 levels.
Put writing activity is gradually shifting to higher strikes, while Call writing participation remains limited, reflecting a positive undertone in the market.
As per the option chain setup, the deciding range for Nifty lies between 25,300 and 25,500. A breakout on either side of this band will likely lead to a directional move.
The Put-Call Ratio (PCR) has increased by 0.30 points, currently standing at 1.21, indicating a bullish sentiment build-up among participants.
Bank Nifty:
A notable accumulation of both Call and Put OI at the 57,000 strike suggests a straddle formation, making 57,000 the decisive level for the index.
A sustained move above 57,000 is expected to trigger short covering rallies toward 57,400, whereas failure to hold above 57,000 may invite downside pressure toward the support zone of 56,500.
Across strikes, Put writing remains dominant, while Call unwinding continues—both signaling a positive data point and underlying bullish bias.
The Put-Call Ratio (PCR) for Bank Nifty has increased by 0.10 points, now standing at 1.10, further supporting the positive sentiment.
Performance Overview:
The S&P 500 ended higher on Wednesday, with Morgan Stanley and Bank of America rallying after solid quarterly results, while investors remained focused on the recent increase in China-U.S. trade tensions.
Sector-specific indicator:
Overnight, the Dow Jones Industrial Average ended the day little changed, down just 17.15 points, or 0.04% at 46,253.31. The S&P 500 finished 0.4% higher at 6,671.06, after gaining as much as 1.2% intraday. The Nasdaq Composite ended up 0.7% at 22,670.08.
Economic indicator:
U.S. Treasury Secretary Scott Bessent said that Washington is not seeking to escalate trade tensions with China and noted that President Donald Trump is prepared to meet Chinese President Xi Jinping in South Korea later this month.
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