The Indian stock market snapped its two-day losing streak with a powerful rally on Wednesday, as favourable global cues and a decline in crude oil prices boosted investor sentiment. Strong, broad-based buying across all sectors, particularly in realty and PSU banks, propelled the benchmark indices to their highest close in a month.
The S&P BSE Sensex surged 575.45 points (0.70%) to close at 82,605.43. The NSE Nifty 50 also saw a strong rebound, climbing 178.05 points (0.71%) to end the day at 25,323.55.
Key Market Highlights
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Sensex: Gained 575 points to close at 82,605.43.
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Nifty 50: Ended the session above the 25,300 mark.
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Market Sentiment: The mood on Dalal Street turned bullish, with all sectoral indices ending in the green. The positive sentiment was widespread, with the Nifty MidCap 100 and SmallCap 100 indices gaining 1.11% and 0.82%, respectively.
Top Gainers and Losers
The rally was led by the Bajaj twins and other heavyweight consumer and financial stocks, while some IT and auto names lagged.
| Top Gainers |
Top Losers |
| Bajaj Finserv |
Infosys |
| Bajaj Finance |
Tata Motors |
| Trent |
Bajaj Auto |
| Nestle India |
Tech Mahindra |
| Asian Paints |
Axis Bank |
Sectoral Performance
All sectoral indices closed with gains, reflecting the broad-based nature of the rally.
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Top Gainers: The Nifty Realty index was the standout performer, surging 3.04%. The Nifty PSU Bank (up 1.67%), Nifty Consumer Durables (up 1.4%), and Nifty Metal (up 1%) indices also saw strong buying interest.
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Other Gainers: The Power and Telecom indices also rose by 1-2%.
Q2 Earnings Buzz
The Q2 earnings season was in full swing, with several companies reporting their results today.
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Thyrocare Technologies: The diagnostics company reported a strong quarter, with its net profit soaring 80% year-on-year to ₹48 crore. Revenue grew over 22% to ₹216.53 crore. The company also announced a 2:1 bonus issue and an interim dividend of ₹7 per share.
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Tata Communications: The company reported a 6.1% year-on-year rise in revenue to ₹6,083 crore. However, net profit declined by 19.3% to ₹183 crore.
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Indian Railway Finance Corporation (IRFC): The company posted a healthy 33% year-on-year increase in its net profit for the second quarter.
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Other Results: A host of other companies, including Axis Bank, HDFC Life Insurance, HDFC AMC, and Angel One, also had their board meetings to consider Q2 results today.
Major News and Market Movers
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Tata Capital's Subdued Debut: The market continued to digest the muted listing of Tata Capital on Monday. India's largest IPO of 2025 listed at a slight premium of just 1.23%, reflecting a cautious investor appetite for large issues amid market volatility.
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Looking Ahead: Investors are now looking forward to the Q2 results of major companies like Infosys, Jio Financial, and LTIMindtree, which are scheduled to be announced on October 16.
Global Market Summary
Global markets were positive, buoyed by strong earnings from U.S. banks and a rally in chip stocks.
Frequently Asked Questions (FAQs)
Why did the market rally so sharply today?
The market's strong rebound was driven by a combination of positive global cues, particularly from Wall Street, and a decline in crude oil prices. This led to broad-based buying across all sectors, snapping a two-day losing streak.
Which sectors were the top performers?
The Nifty Realty index was the best performer, gaining over 3%. The PSU Bank, Consumer Durables, and Metal indices also saw significant gains of 1-2%.
What were the key Q2 results announced today?
Thyrocare reported a very strong quarter with an 80% jump in net profit and also announced a bonus issue. IRFC's profit grew by a healthy 33%, while Tata Communications saw a decline in its net profit despite revenue growth.
What is the outlook for the rest of the week?
The market's focus will now shift to the upcoming Q2 results of heavyweight companies, especially from the IT sector, including Infosys. Their performance and management commentary will be crucial in determining the market's direction.