Top indices (close)
| Index | Close | Change (%) | Notes |
|---|---|---|---|
| S&P BSE Sensex | 81,790.12 | +0.72 % | Closed near record highs on broad-based buying. |
| Nifty 50 | 25,077.65 | +0.74 % | Reclaimed the 25,000 level for the first time. |
| Nifty Bank | 56,104.85 | +0.9 % | Gains led by HDFC Bank, Kotak Mahindra Bank and other lenders. |
| Nifty IT | 34,722.55 | +2.3 % | IT stocks rallied ahead of Q2 results. |
| Nifty Midcap 100 | — | +0.9 % | Mid-caps outperformed large caps. |
| Nifty Smallcap 100 | — | +0.3 % | Small-caps saw modest gains. |
| India VIX (volatility) | 10.19 | −1.3 % | Decline indicates reduced market fear. |
| USD/INR (₹) | 88.74 | Rupee +5 paise | Rupee strength aided by inflows and positive sentiment. |
Sectoral performance
- Banking and financial services: strong gains (+0.9 % to +1.2 %) after lenders reported robust loan growth.
- IT services: top gainer (+2.3 %) as investors positioned ahead of Q2FY26 earnings; TCS, Tech Mahindra and HCL Tech led.
- Hospitals/healthcare: hospital stocks surged 5–7 % after the government revised Central Government Health Scheme (CGHS) rates for ~2,000 procedures for the first time in 15 years, boosting earnings expectations for Max Healthcare, Fortis and Apollo Hospitals.
- Consumer & defensive sectors: Nifty FMCG and Nifty Energy slipped (~0.3 %), reflecting sector rotation.
- Metals & energy: lagged (−0.9 %) due to weakness in metal prices; Tata Steel and Jindal Steel declined ~2 %.
- Mid- & small-cap indices: outperformed large-caps, highlighting broad market participation.
Key statistics & market breadth
- Advances vs Declines: Market breadth remained positive; roughly 60 % of NSE stocks closed higher.
- Foreign institutional investors (FIIs): Net sellers of ~₹1,583 crore on Friday; domestic institutions absorbed the selling.
- 52‑week highs/lows: ~200 stocks across exchanges touched 52‑week highs, reflecting momentum in mid- and small-caps.
- Macro: Rupee firmed to ₹88.74/$; India VIX eased to 10.19; Brent crude hovered near $89/barrel.
Top gainers & losers (Nifty 50)
| Top gainers | Price (₹) | % change | Reason |
|---|---|---|---|
| Max Healthcare | 1,139.70 | +6.6 % | CGHS rate revision to boost hospital earnings. |
| Shriram Finance | 671.45 | +4.0 % | Strong Q2 business update; healthy loan growth. |
| TCS | ~3,750 | +3.0 % | Buying ahead of Q2 results; rebound in IT stocks. |
| Tech Mahindra | ~1,450 | +2.8 % | Pre‑earnings rally; optimism on digital services. |
| HCL Technologies | ~1,145 | +1.7 % | Positive sentiment in IT sector. |
| Axis Bank / Kotak Mahindra Bank | — | +2.0–2.7 % | Strong quarterly business updates and valuations. |
| Top losers | Price (₹) | % change | Reason |
|---|---|---|---|
| Tata Steel | 169.71 | −1.9 % | Weakness in metal prices; profit‑taking. |
| Adani Ports | ~805 | −1.0 % | Mild profit‑booking in port/infra stocks. |
| ITC | ~431 | −1.0 % | Defensive sector out of favour. |
| Power Grid Corp | ~275 | −1.0 % | Profit‑taking after recent rally. |
| SBI Life, Titan, Eicher Motors, NTPC, Trent | — | −0.5 % to −1.0 % | Sector rotation and stock-specific profit booking. |
Note: Prices are approximate closing values; percentage change is from the previous close.
What moved the market
- Banking strength: Large banks (HDFC Bank and Kotak Mahindra Bank) reported strong Q2 loan and deposit growth, lifting financial indices.
- CGHS rate revision: The government revised CGHS procedure rates for the first time in 15 years, leading to a surge in hospital stocks (Max Healthcare, Apollo Hospitals, Fortis).
- IT revival: Investors bought into IT majors (TCS, Tech Mahindra, HCL Tech, LTIMindtree) ahead of Q2 results, expecting stable demand and improved margins after recent corrections.
- Quarterly earnings optimism: Market participants positioned ahead of the upcoming Q2FY26 earnings season; expectations are moderate, but the festive season is seen boosting Q3 demand.
- Macro & global cues: Most Asian indices closed higher amid optimism about US rate cuts; European futures were positive. Lower volatility (India VIX down) and a firmer rupee supported sentiment.
- Selective profit booking: Metals and defensives underperformed as funds rotated into growth sectors, leading to minor declines in Tata Steel, ITC and Power Grid.
Global cues
- US markets: Dow Jones and S&P 500 closed near record highs on Friday; Nasdaq slightly negative. Investors anticipate the US Federal Reserve pausing rate hikes amid cooling labour market data.
- Europe: The Stoxx 600 slipped ~0.2 %; European banks were weak due to political uncertainty in France, while technology and energy stocks limited losses.
- Asia-Pacific: Japan’s Nikkei 225 rallied ~4 % after the Liberal Democratic Party elected Sanae Takaichi as its new leader; South Korea’s Kospi gained ~2.7 %. China’s markets were mixed as traders assessed policy measures.
- Commodities: Gold climbed above $3,900/oz on safe-haven demand amid a US government shutdown; Brent crude hovered around $89/barrel.
- Currency: The rupee strengthened to 88.74/$; GIFT Nifty futures indicated a mildly positive start for the next session.
Stocks to watch (next session)
- IT majors: TCS, Infosys, Wipro – their Q2 results (starting 9 Oct) will set the tone for the sector; pre‑earnings moves may continue.
- Banks: HDFC Bank, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finance – monitor follow‑through after strong business updates.
- Hospital stocks: Max Healthcare, Fortis Healthcare, Apollo Hospitals – further reaction to CGHS rate revision.
- New listings & IPOs: Tata Capital (IPO opens 7 Oct), LG Electronics India IPO and SME listings (Pace Digitek, KVS Castings, Rukmani Devi Garg Agro Impex, MPK Steels, etc.) could draw funds.
- HCL Infosystems – stock may react to a ₹103 crore arbitration award against UIDAI, which improves its financial position.
- Vodafone Idea – appointment of Tejas Mehta as CFO effective 6 Oct; watch for investor reaction.
- Lupin – US FDA classified its Pithampur facility inspection as “Official Action Indicated (OAI),” which could pressure the stock.
- Hindustan Zinc & Avenue Supermarts (DMart) – both issued strong quarterly updates; watch for continued traction.
Corporate updates
- HDFC Bank: Gross advances rose ~10 % YoY to ₹27.69 trillion; deposits +15 %; strong Q2 business update.
- Kotak Mahindra Bank: Advances +16 % and deposits +14.6 % YoY in Q2; CASA ratio improved.
- IndusInd Bank: Advances and deposits contracted slightly; CASA ratio fell; stock may underperform peers.
- Infosys: Announced collaboration with Telenor Shared Services to implement Oracle Cloud HCM solutions.
- Avenue Supermarts (DMart): Standalone revenue for Q2FY26 rose ~15 % YoY to ₹16,219 crore; chain now operates 432 stores.
- Bajaj Housing Finance: Gross disbursements +32 %; AUM +24 %; healthy growth ahead of proposed IPO.
- Hindustan Zinc: Silver production +22 % and refined lead +29 %; strong quarterly operational update.
- Vodafone Idea: Appointed Tejas Mehta as CFO (from 6 Oct) replacing Murthy GVAS.
- Lupin: US FDA inspection of its Pithampur Unit‑2 resulted in an “OAI” classification.
- HCL Infosystems: Received a final arbitration award of ₹102.81 crore (plus 10 % annual interest) against the UIDAI; a positive one‑time gain.
Outlook & technical levels for 7 Oct 2025
- Nifty 50: The index has broken above the psychological 25,000 level and sits near its upper resistance band. Technical indicators remain supportive, but a significant hurdle lies at 25,100–25,200. A decisive breakout above 25,200 could open targets of 25,300–25,350. Immediate support is at 24,800–24,850, with secondary support at 24,600.
- Sensex: Faces resistance near 81,900–82,200; support is at 81,100.
- Market tone: After three straight sessions of gains, the market may enter a consolidation phase as traders digest the rally and await Q2 earnings. Momentum remains positive, but valuations are richer; expect stock‑specific action rather than broad-based rallies.
- Key triggers for Tuesday: (a) US and Asian market cues; (b) movement in US bond yields and commodity prices; (c) rupee trend; (d) TCS earnings preview; (e) subscription response to Tata Capital and LG Electronics IPOs; (f) FII/DII flows.
- Overall sentiment: Moderately bullish to neutral with an upward bias, provided global cues remain supportive and earnings deliver. Cautious profit‑booking could emerge near resistance levels.
