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Closing Bell: Sensex Ends At 82,500, Nifty 50 Setlles 100 pts Higher; Tata Steel, HDFC, TCS Top Losers
As of 08:34 AM on Friday, October 10, GIFT Nifty 50 futures were trading at 25,263.0, up by 3 points or 0.01%. However, despite the marginal uptick in GIFT Nifty, domestic benchmark indices, BSE Sensex and NSE Nifty 50 are expected to open in the red today.
Earlier in pre-market trade, GIFT Nifty was seen at 25,249.50, down by 10.50 points or 0.04%, indicating a subdued start for Indian equities.
Stock Market Recap
Indian stock markets ended higher on Thursday, driven by gains in IT and metal stocks ahead of TCS earnings and stronger base metal prices. The Sensex rose 398 points to 82,172.10, while the Nifty 50 gained 136 points to close at 25,181.80.
Meanwhile, US stock markets closed lower on Thursday, with the S&P 500 and Nasdaq both retreating from their record highs seen on Wednesday. The Dow Jones Industrial Average posted the largest percentage decline among the three major indices, as investors chose to step back ahead of the Q3 earnings season.
The decline came amid a lack of fresh economic data or market-moving news, leading to cautious sentiment on Wall Street.
KP Group signs MoU with Government of Gujarat
KP Group, a leading Gujarat-based conglomerate with diversified business in renewable energy and infrastructure, has signed a Memorandum of Understanding (MoU) with the Energy & Petrochemicals Department, Government of Gujarat, for the establishment of Hydrogen and Electric Vehicle (EV) fuel stations across Gujarat. The initiative, part of the Vibrant Gujarat Regional Conference (North Region) held at Ganpat University, Mehsana, marks a major step towards strengthening Gujarat’s clean energy and e-mobility ecosystem.
Indosolar Limited Reports Strong Performance
Total income for Q2 FY26 stood at Rs. 202.56 crores as compared to Rs. 28.16 crores in Q2 FY25 representing a growth of 619.32% YoY. EBITDA for Q2 FY26 stood at Rs. 70.74 crores as compared to Rs. 21.64 crores in Q2 FY25 representing a growth of 226.89% YoY. Total Income for H1 FY26 stood at Rs. 398.56 crores as compared to Rs. 28.26 crores in comparative period during H1 FY25. EBITDA for H1 FY26 stood at Rs. 135.62 crores as compared to Rs. 20.77 crores in comparative period during H1 FY25
Rose Merc Limited Partners with Thrust Aircraft Private Limited
Rose Merc Limited (RML) today announced the signing of a Memorandum of Understanding (MOU) with Thrust Aircraft Private Limited (TAPL), India's pioneering aerospace firm focused on indigenous aircraft and UAV manufacturing. This non-binding agreement aims to propel TAPL's expansion by leveraging RML's extensive investor network, including ties to Capital Square Advisors Pvt Ltd a Category I Merchant Banker with over Rs. 70,000 crore in syndicated debt experience to support fundraising, valuation, and strategic positioning.
Company Update: Info Edge | Pre-results billings update: Recruitment segment trends improve sequentially
“INFOE in its pre-results business update mentioned that standalone billings grew 12.1% YoY in 2QFY26, a slight sequential acceleration over 11.2% in 1Q but a miss on JMFe of 14.6% YoY. Recruitment segments billings grew 10.8% YoY, an improvement over 9% in 1Q, albeit a miss on JMFe of 13% YoY. We believe the pressure in IT hiring activity was partially offset by strong trends in non-IT hiring activity. In 99acres, billings grew 14.0% YoY, a miss on JMFe of 19.5%. Lastly, the others segment, which includes Jeevansathi and Shiksha, saw healthy 21% YoY billings growth, marginally ahead of JMFe of 20%. We maintain our billings growth forecast for the recruitment segment in FY26 at 11.0%. We maintain ADD with a Sep’26 TP of 1,480,” said Swapnil Potdukhe of JM Financial Institutional Securities.
Result Update: Tata Consultancy | Flexing muscle, finally
“TCS’ 2Q operational performance exceeded expectations. Revenues grew 0.8% cc QoQ, ahead of JMFe (0.2%). EBIT margin expanded 70bps (JMFe: +20bps). Deal wins improved 16% YoY to USD 10bn, with an LTM book-to-bill of 1.4x. Its unchanged outlook – FY26 International revenue growth to be better than FY25 (0.7% cc) – and BSNL’s remaining orderbook (USD 340mn) suggest growth should accelerate in 2H. 3% sequential reduction in headcount (including 1% through involuntary attrition), with another c.1% involuntary reduction ahead indicate a durable reset in cost base. This should either help TCS improve margins or allow it to invest for growth, improving earnings visibility in either scenario. While these drive 2% upgrades to our FY26-28E EPS, the key highlight of the quarter was TCS’ deterministic AI-pivot. TCS announced 1GW of co-lo AI Data Center capacity in India over the next 5-7 years, with a total investment of c.USD 7bn. It also indicated its renewed emphasis on inorganic growth, in areas such as AI, Cloud, Cybersecurity etc. As we noted in Data Centre 101: India’s Cloud Moment, DC demand in India is unequivocally rising. We therefore find its co-lo foray value accretive, though see limited synergies with its Services business at this stage. Importantly however, TCS’ willingness to put its balance sheet to use, a significant deviation from its earlier conservative approach, is a welcome change in the current dynamic environment. Investors should encourage this. BUY,” said Abhishek Kumar of JM Financial Institutional Securities.
Market Outlook Today By Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
The overall market environment is turning positive. Globally, the GAZA peace accord signals end to the conflict and reduction of geopolitical risk from the region. Domestically, there are indications of a trade deal between US and India with India ‘rebalancing’ its oil purchases. These positive developments and the shift in FII strategy ( FIIs were buyers in the cash market in the last three trading days) bode well for the market. Even though valuations continue to be relatively high compared to most other markets, short-covering can take the market higher. This is a highly probable event since the short position in the market continues to be high. The better-than-expected results from TCS, which reported better revenue and margin numbers, can lift sentiments for IT stocks. A significant market trend is the elevated enthusiasm in the primary market. The Rs 11607 crore LG Electronics IPO getting oversubscribed 54 times is the reflection of exuberance in the IPO market. Refunds from these and other IPOs will add to the liquidity in the market helping the market to move higher.
Stock Market Live Updates: TCS Shares Slip After Q2 Results
Following the announcement of its Q2 results, TCS shares dropped by as much as 1.53% during the trading session to Rs 3,014.5 apiece.
Stock Market Live Updates: Indian Rupee Opens Steady Against U.S. Dollar
The Indian rupee began Friday’s session on a flat note, opening at 88.7850 per U.S. dollar, marginally changed from its previous close of 88.7825.
Stock Market Live Updates: Sensex Slips Nearly 100 Points in Pre-Opening
In early trade on Friday, the BSE Sensex dipped close to 100 points during the pre-opening session.
Stock Market Live Updates: Israel Approves Gaza Ceasefire and Hostage Release Deal
Israel has officially approved a ceasefire agreement and hostage release plan concerning the Gaza conflict. Prime Minister Benjamin Netanyahu’s office confirmed the decision through an official statement.
Stock Market Live Updates: Stocks in Focus Today
Several key stocks are expected to remain in focus during the trading session, including Tata Consultancy Services (TCS), Lupin, and NTPC, amid sector-specific developments and earnings cues.
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