Indian equities held a narrow range around midday on Thursday after recovering from a soft opening. Banking and realty shares supported the market, while auto, IT and energy stocks remained under pressure. The decline in India VIX pointed to easing near-term volatility, even as investors awaited the October inflation report due this afternoon.
Beyond the market, fresh developments include a new optical-fibre export order for HFCL, a major institutional share sale by Bajaj Finance, stronger direct-tax collections and an upward revision to India’s growth outlook.
1. Sensex and Nifty hold steady as Realty and Bank stocks support the market
At 12:00 PM IST, the Sensex stood at 81,969.14, up 0.11%, while the Nifty 50 was at 25,269.60, up 0.06%. Both indices recovered from a softer start but remained in a narrow range.
Bank Nifty gained 0.64%, while Nifty Realty advanced 3.2%. Small-cap shares were also higher by around 0.7%. Auto, IT and energy stocks were among the weaker sectors. M&M and Nestlé India featured among the notable losers, while Ola Electric and Lemon Tree Hotels gained around 7% each.
India VIX declined approximately 13%, indicating a sharp reduction in the market’s volatility gauge.
2. October CPI inflation data due at 4 PM
India’s October consumer price inflation figures are scheduled for release at 4 PM IST. The data will be closely watched for signs of pressure in food and broader retail prices, particularly after concerns about elevated inflation and the possibility of tighter monetary policy.
The release could influence expectations around the Reserve Bank of India’s policy path. Investors will pay particular attention to food inflation and whether price pressures are spreading beyond a few volatile components.
3. HFCL secures export orders worth ₹834.36 crore
HFCL has secured overseas export orders worth approximately ₹834.36 crore for optical fibre cable supplies through its wholly owned subsidiary. The orders came from an international customer and are scheduled for execution by June 2027.
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The development adds to the company’s export business and provides visibility on its order execution pipeline. HFCL shares may remain in focus as investors assess the scale and delivery timeline of the contracts.
4. Bajaj Finance launches institutional share sale of up to ₹11,700 crore
Bajaj Finance has launched a qualified institutional placement to raise up to ₹11,700 crore, with a floor price of ₹992.25 per share. The fundraise is intended to support the lender’s expansion and capital requirements.
The transaction is significant for the non-banking financial sector because of its size and the institutional demand it may attract. Investors will track the issue pricing and its potential impact on the company’s capital position and share supply.
5. India’s net direct tax collections rise 11.76%
Net direct tax collections reached approximately ₹14.42 lakh crore up to November 10, marking an 11.76% increase over the corresponding period last year. Gross collections grew around 14% to ₹17.50 lakh crore, while refunds increased 26% to ₹3.08 lakh crore.
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Net corporate tax receipts rose faster than non-corporate tax collections. Securities transaction tax collections also recorded strong growth, reflecting activity in the capital markets. The government has collected just over half of its FY27 direct-tax target so far.
6. Moody’s raises India FY27 growth forecast to 7%
Moody’s Ratings has raised its FY27 growth forecast for India to 7% from 6.5%, citing resilient consumption, improving investment activity and strong economic fundamentals.
The agency also highlighted the possibility of a new private capital expenditure cycle, supported by industrial credit growth and improving capacity utilisation. However, inflation, monsoon-related risks, higher interest rates and geopolitical tensions remain potential challenges.
7. NCLT rejects resolution plan for Reliance Infrastructure subsidiary
The Mumbai bench of the National Company Law Tribunal has rejected the resolution plan for SU Toll Road, a wholly owned subsidiary of Reliance Infrastructure. The decision relates to unresolved obligations for overdue major road repairs, which the successful resolution applicant had declined to cover.
The tribunal has given lenders 15 days to decide the next course of action. If fresh bids are invited, the resolution process could be extended by another 120 days. The case concerns the Salem-Ulundurpet road corridor in Tamil Nadu.
8. Adani’s Kutch Copper signs strategic MoU with Chile’s Codelco
Adani Enterprises has announced a strategic memorandum of understanding between Kutch Copper and Chilean state-owned copper producer Codelco for exploration of the Kaburkaala project in Chile.
The proposed collaboration brings together Adani’s capital and project-execution capabilities with Codelco’s geological and international mining experience. The development is relevant to India’s broader efforts to strengthen access to copper and other strategic minerals.
9. India and Canada begin sixth round of trade negotiations
India and Canada have begun the sixth round of trade negotiations, signalling continued efforts to advance bilateral economic engagement. Progress in the discussions will be watched for potential implications for trade, investment and market access between the two countries.
10. Crude oil eases as West Asia peace hopes reduce risk concerns
Brent crude remained around $91 per barrel after declining amid hopes of progress in diplomatic efforts involving Iran and the wider West Asia region. There was no fresh US escalation reported in the developments being monitored by markets.
Lower oil prices offer some relief to India as a major crude importer, although shipping risks and the possibility of renewed tensions remain important variables.
11. Foreign investor buying remains an important market support
Foreign institutional investors continued their buying trend, helping support domestic market sentiment. The latest session’s strong foreign inflows have been an important factor behind the recent recovery in Indian equities.
The market will watch whether this participation continues, particularly as domestic investors assess valuations and the upcoming inflation data.
Market outlook for the second half
The midday session reflects a market that is consolidating rather than making a decisive move. Banking and realty shares are providing support, while weakness in IT, auto and energy stocks is limiting broader gains.
The October CPI release at 4 PM will be the main domestic trigger for the remainder of the session. Alongside inflation, investors should track crude oil, institutional flows and developments in West Asia. A sustained move will depend on whether buying broadens beyond a few leading sectors.
Disclaimer: This article is for informational and educational purposes only. It does not constitute investment advice or a recommendation to buy or sell any securities. Onetrader is not a SEBI-registered investment adviser or research analyst. Investors should conduct their own research or consult a qualified financial adviser before making investment decisions.
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