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Key gauges end higher for 2nd consecutive session
Oct-06-2026

Extending their previous session's rally, Indian equity benchmarks ended sharply higher on Tuesday, as crude oil prices slipped below the $100 mark after a large G7 stockpile release and alternative supply measures helped offset disruptions to vessel movements through the Strait of Hormuz. Meanwhile, market participants remained focused on the RBI's monetary policy decision due tomorrow.

Both the indices ended with gains of around a percent, with the Nifty reclaiming the 22,750 mark and the Sensex gaining over 650 points, supported by broad-based buying and positive global cues. Sectorally, buying was seen in Telecom, Capital Goods and Industrials stocks, while IT and realty stocks faced selling pressure. Trent emerged as the top gainer, on better-than-expected growth in the second quarter.  

Some of the important factors in trade: 

World Bank raises India’s economic growth forecast to 7.1% for FY27: The World Bank in its latest October economic update has raised India’s economic growth forecast to 7.1 per cent for fiscal year 2026-27 (FY27) from 6.6 per cent forecasted in April, supported by robust domestic demand and strong exports, despite global headwinds. 

India’s services sector strengthens in September on improving demand conditions: According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index rose to 55.2 in September from 54.1 in August. New orders increased sharply in September and at the fastest rate in three months. 

India-US trade talks reach ‘plateau’, limited room for further concessions: Regarding India-US trade pact, Finance Minister Nirmala Sitharaman has said that negotiations for the India-US trade agreement are still underway, but both sides appear to have reached a 'plateau', with limited room for further concessions from either side.

India to invest Rs 4,500 crore to build three chemical parks: Union Minister Anupriya Patel has asked states and the industry to participate in the scheme to establish three chemical parks with at least Rs 4,500 crore investment, as she emphasised the importance of boosting domestic manufacturing capacity and reducing imports. 

Global front: European markets were trading higher as investors shrugged off data that showed German factory orders plunged 10.6 percent from the previous month in August, in contrast to the 3.2 percent rise in July. Asian markets settled mostly higher as an apparent calm in the global oil market helped ease concerns around inflation and input costs. 

Finally, the BSE Sensex rose 685.34 points or 0.95% to 73,067.81 and the CNX Nifty was up by 220.35 points or 0.98% to 22,776.10.

The BSE Sensex touched high and low of 73,067.81 and 72,384.83, respectively. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 2.33%, Capital Goods up by 1.79%, Industrials up by 1.62%, FMCG up by 1.57% and Oil & Gas up by 1.21%, while IT down by 0.34% and Realty down by 0.26% were the few losing indices on BSE.

The top gainers on the Sensex were Trent up by 12.55%, Kotak Mahindra Bank up by 3.62%, Hindustan Unilever up by 2.72%, Reliance Industries up by 2.44% and Interglobe Aviation up by 2.13%. On the flip side, Tech Mahindra down by 2.74%, ITC down by 1.56%, Bajaj Finance down by 1.43%, Ultratech Cement down by 1.30% and Infosys down by 1.10% were the top losers.

Meanwhile, India’s services sector expanded further in the month of September, as demand conditions remained supportive and new business rose at fastest pace since June. Besides, improving sales performance lifted growth of business activity to a three-month high, while input-cost pressures on service providers eased to a 10-month low, reducing the need to raise selling prices.

According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index rose to 55.2 in September from 54.1 in August. New orders increased sharply in September and at the fastest rate in three months. Finance & insurance and consumer services recorded the strongest expansions in both activity and sales.

International demand for Indian services improved, but the growth of new export business eased to a moderate pace that was the slowest in close to three years. Besides, employment rose but at a moderate rate and lost some momentum from August, with the slowdown largely attributable to softer recruitment across the real estate and business services firms.

The survey report further noted that outstanding business volumes increased after falling in the previous two months, however, the rate of accumulation was only marginal. Meanwhile, Indian services companies remained optimistic about the year ahead, supported by resilient demand and rising customer enquiries.

Going ahead, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also increased from 54.3 in August to 55.9 in September, indicating the strongest upturn in private sector output since June. Still, the average for the second fiscal quarter was the lowest since the three months to March 2022.

CNX Nifty touched high and low of 22,776.10 and 22,561.60, respectively. There were 32 stocks advancing against 18 stocks declining on the index.

The top gainers on Nifty were Trent up by 12.64%, BSE up by 3.94%, Kotak Mahindra Bank up by 3.82%, Nestle India up by 3.42% and Hindustan Unilever up by 3.09%. On the flip side, Coal India down by 3.16%, Tech Mahindra down by 2.04%, Max Healthcare down by 1.58%, Tata Motors Passenger down by 0.99% and Ultratech Cement down by 0.92% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 53.81 points or 0.51% to 10,551.75, France’s CAC rose 42.1 points or 0.54% to 7,876.20 and Germany’s DAX gained 184.79 points or 0.73% to 25,439.00.

Asian markets settled mostly higher on Tuesday as Brent crude prices dipped below $100 per barrel after reports suggested that Middle East crude exports are recovering toward pre-war levels, while pressure from a stronger American currency and elevated US Treasury yields was also offset by reduced chances of an October rate hike by the Federal Reserve. Japanese market gained tracking Wall Street’s strong performance overnight. Meanwhile, Chinese markets were closed for the National Day Golden Week holiday and are scheduled to reopen on October 8, 2026.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

--

--

--

Hang Seng

24,280.56

240.22

1.00

Jakarta Composite

6,192.93

74.07

1.21

KLSE Composite

1,633.35

1.60

0.10

Nikkei 225

70,683.98     

737.12

1.05

Straits Times

5,701.54

37.21

0.66

KOSPI Composite

6,941.39

-62.35

-0.89

Taiwan Weighted

49,822.55

110.51

0.22
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