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Key gauges trim gains in morning deals
Oct-05-2026

Indian equity benchmarks erased most of their initial gains but continued to trade in green with gains of around half percent each in morning deals, following a decline in crude oil prices and easing concerns over further Federal Reserve tightening at its October meeting. Traders took some support with Economic Affairs Secretary Anuradha Thakur stating that private investment in India is showing signs of a strong revival, with capital formation in the first quarter of the current financial year growing at its fastest pace in more than three years. However, gains remain capped as exchange data showed foreign institutional investors (FIIs) continued their selling spree, offloading equities worth Rs 9,484.22 crore on Thursday. Investors also turned their attention to the upcoming RBI monetary policy meeting and the quarterly results season, which begins later this week. On the global front, Asian markets were trading mostly higher following the broadly positive cues from Wall Street on Friday, as weaker-than-expected U.S. monthly jobs data led to optimism the US Fed may hold off on raising interest rates later this month. 

The BSE Sensex is currently trading at 72230.70, up by 321.00 points or 0.45% after trading in a range of 72134.57 and 72631.93. There were 22 stocks advancing against 8 stocks declining on the index.

The top gaining sectoral indices on the BSE were Bankex up by 0.82%, PSU up by 0.68%, Power up by 0.66%, Utilities up by 0.65% and Consumer Durables up by 0.61%, while Healthcare down by 1.16%, Auto down by 0.22% and Basic Materials down by 0.01% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 4.07%, TCS up by 2.17%, Axis Bank up by 1.66%, Power Grid up by 1.55% and Titan Company up by 1.43%. On the flip side, HCL Technologies down by 1.65%, Asian Paints down by 1.32%, Sun Pharma down by 1.20%, Bharat Electronics down by 1.17% and HDFC Bank down by 0.64% were the top losers.

Meanwhile, Prime Minister's Principal Secretary-2 Shaktikanta Das has said that the Indian economy is within striking distance of 8 per cent growth, supported by broad-based reforms including GST, flexible inflation targeting, banking reforms, and a commitment to fiscal prudence. Das said that India's resilience amid global uncertainties was the outcome of broad and mutually reinforcing reforms.

He stated ‘If the period from July-September 2025-26 to April-June 2026-27 is taken into account, real GDP growth in India just exceeds 8 per cent. This resonates with my statement to Financial Times London a few months ago that India is within a striking distance of 8 per cent growth.’ India’s GDP expanded by 7.8 per cent in the June quarter, surpassing expectations, with Das attributing the strong growth to robust domestic demand and favourable investment conditions.

He said ‘India's resilience is not accidental. It is the outcome of broad and mutually reinforcing reforms.’ He said reforms undertaken over the past decade were not one-off measures but were designed to build buffers that would help the economy absorb disruptions and recover rapidly. He cited flexible inflation targeting, the introduction of the goods and services tax, fiscal prudence, the push for digital payments and banking sector reforms among such measures.

Looking ahead, he said India is at a pivotal stage in its development journey and must harness the artificial intelligence (AI) revolution to sustain high growth. He said ‘India's AI strategy rests on two complementary pillars. First, sovereign AI capability through investments in indigenous foundation models, high-performance computing infrastructure, semiconductor developments and robust innovation ecosystem.’ He also called for deepening the financial sector to support India's expanding economic weight.

The CNX Nifty is currently trading at 22531.40, up by 109.45 points or 0.49% after trading in a range of 22474.00 and 22621.80. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Bajaj Finance up by 4.05%, TCS up by 2.60%, BSE up by 2.38%, Tata Motors Passenger up by 2.29% and Shriram Finance up by 2.10%. On the flip side, HCL Technologies down by 2.14%, Asian Paints down by 1.95%, Max Healthcare Inst. down by 1.69%, Apollo Hospital Ent. down by 1.52% and Cipla down by 1.41% were the top losers.

Asian markets were trading mostly higher; Nikkei 225 surged 1420.54 points or 2.08% to 69,730.00, Taiwan Weighted added 1149.76 points or 2.37% to 49,625.50, Jakarta Composite gained 2.1 points or 0.03% to 6,038.99 and Straits Times rose 2.32 points or 0.04% to 5,637.14.

On the flip side, Hang Seng declined 66.29 points or 0.28% to 23,906.00.
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