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Trendlyne Marketwatch
15 Oct 2026, 03:57PM
Market closes higher, led by IT and financial stocks
By Trendlyne Analysis

 

Nifty 50 closed at 22,997.35 (374.7, 1.7%), BSE Sensex closed at 74,315.61 (1,533.7, 2.1%) while the broader Nifty 500 closed at 22,180.80 (142.8, 0.7%). Market breadth is in the red. Of the 2,846 stocks traded today, 954 were on the uptrend, and 1,839 went down.

Indian indices closed higher, led by gains in IT and financial stocks. The Indian volatility index, Nifty VIX, fell 4.1% and closed at 14 points. Nestle India plunged after management flagged rising food inflation and commodity cost pressures, despite its Q2FY27 revenue increasing 20.3% YoY to Rs 6,788.3 crore on strong volume growth.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. BSE Tech and BSE TOP 10 Banks are among the top index gainers today. According to Trendlyne’s sector dashboard, Telecom Services emerged as the best-performing sector of the day, with a rise of 2.7%.

Asian markets closed lower, except for India’s Nifty 50. European markets traded with varied trends. US index futures traded mixed. Investors await US producer inflation and retail sales data for further cues on the interest-rate outlook. Meanwhile, US Ambassador to India Sergio Gor said US President Donald Trump is expected to decide within about 10 days on tariffs of up to 100% on countries buying Russian energy.

  • Relative Strength Index (RSI) indicates that stocks like Shreeji Shipping Global and DP Abhushan are in the overbought zone.

  • YES Bank falls sharply after the Supreme Court upholds the Bombay High Court ruling quashing its Rs 8,415 crore AT1 bond write-off carried out during the bank’s 2020 restructuring. The ruling raises concerns over a potential financial liability towards bondholders.

  • Tata Communications is rising sharply as its Q2FY27 net profit soars 86.3% YoY to Rs 341 crore, driven by lower employee benefits & finance costs. Revenue jumps 10.2% to Rs 6,704.3 crore, supported by traction in the data services and campaign registry businesses. It features in a screener of stocks with increasing book value per share over the past two years.

  • South Indian Bank rises to a new all-time high of Rs 52.1 as its net profit rises 21.3% YoY to Rs 426.1 crore in Q2FY27. Revenue increases 16.1% to Rs 2,795.7 crore, driven by improvement in the retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 169 bps and 47 bps, respectively.

  • Fairfax Financial Holdings plans to combine IDBI Bank, Digit Insurance and IIFL Capital into a single financial services group following its selection to acquire a 60.7% stake in IDBI Bank for Rs 52,878 crore. The proposed combination will bring banking, life and general insurance, investment banking and wealth management services under one entity, expanding IDBI Bank's financial services offerings.

  • UCO Bank's Q2FY27 net profit jumps 20.3% YoY to Rs 785.6 crore, led by lower employee benefits expenses and provisions for taxes. Revenue increases 10.1% to Rs 8,174.1 crore, helped by improvements in the corporate and retail banking segments. The bank's asset quality improves as its gross and net NPAs decline 60 bps and 25 bps, respectively.

  • Polycab India is falling as its Q2FY27 EBITDA margin drops 140 bps YoY to 14.4% due to higher raw materials, subcontracting, employee benefits, finance, advertising and freight costs. However, revenue soars 52.8% to Rs 9,898.9 crore, thanks to demand for wires & cables and fast-moving electrical goods (FMEG) and strong EPC contract execution. It appears in a screener of stocks with an increasing trend in non-core income.

  • Indian Bank's Q2FY7 net profit rises 14.7% YoY to Rs 3,462.2 crore. Revenue increases 15.2% to Rs 19,105.8 crore, driven by improvement in the treasury, retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 99 bps and 2 bps, respectively.

  • Axis Capital initiates ACME Solar Holdings with a ‘Buy’ rating and a target price of Rs 550. The brokerage expects EBITDA to grow at a 38% CAGR over FY27-31 as the company shifts towards complex renewable energy projects and expands its battery storage portfolio. Around 95% of its 5.4 GW under-construction and pipeline capacity comprises complex projects, while it plans to add around 17 GWh of battery storage capacity.

  • Nestle India recovers 4.5% from its day low as its Q2FY27 net profit climbs 35.9% YoY to Rs 1,009.6 crore, helped by lower finance costs and premiumisation. Revenue jumps 20.3% to Rs 6,788.3 crore, owing to packaged food & beverages demand. It features in a screener of stocks where FIIs are increasing their shareholding.

  • NTPC is rising as it reportedly proposes a partnership with Russia's Rosatom to develop six nuclear reactors in India, with a capex of Rs 1.5 lakh crore. Under the partnership, NTPC offers to deploy Rosatom's VVER-1000 reactors across the six units, each with a 1,000 MW capacity. The units are part of an agreement signed between India and Russia in 2014 to build 12 nuclear reactors in the country.

  • HDB Financial Services plunges to a new all-time low of Rs 538.3 as its Q2FY27 net interest margin falls 12 bps QoQ to 8.2%, while gross Stage 3 loans rise to 2.4% from 2.4% in Q1, indicating some deterioration in asset quality. Net profit drops 0.6% to Rs 780 crore as higher credit costs and lower margins weigh on earnings. The company appears in a screener of stocks with declining ROE over the past two years.

  • Nomura initiates Paytm with a ‘Buy’ rating and a target price of Rs 2,250. The brokerage expects EBITDA to grow at a 96% CAGR over FY27-29, driven by growth in payments and merchant lending, AI-led cost efficiencies, and potential UPI MDR revenue. It also sees international expansion and enterprise AI product Pi as additional growth opportunities. 

  • ICICI Lombard General Insurance Co's Q2FY27 net profit jumps 15.5% YoY to Rs 946.4 crore, boosted by higher investment income. Revenue climbs 19.6% to Rs 8,252.4 crore, driven by higher net premium income (NPI) amid demand for motor & health insurance and a recovery in commercial insurance. It features in a screener of stocks with a decrease in provisions.

  • Reliance Industries is rising as its subsidiary, Jio Platforms, files its Red Herring Prospectus (RHP) for an IPO to sell 27 crore shares worth Rs 28,755-30,213 crore, sets the price band at Rs 1,065-1,119 per share.

  • Ceat is falling sharply as its Q2FY27 net profit drops 39.8% YoY to Rs 112 crore due to higher raw materials, inventory, employee benefits and depreciation & amortisation expenses. However, revenue jumps 26.2% to Rs 4,767 crore, thanks to premium tyre demand, higher exports and off-highway business ramp-up. It appears in a screener of stocks near their 52-week lows.

  • Bernstein expects India's domestic two-wheeler sales growth to slow to 2.1% in FY28 from 9.7% in FY27 as the demand boost from GST cuts fades. The brokerage says lower prices encouraged customers to replace older vehicles earlier, boosting FY27 sales but reducing potential demand in FY28. Subsequent price hikes are also expected to reduce the affordability benefits of the tax cuts. Bernstein expects motorcycle sales to grow just 1.4% in FY28, compared with 3.3% for scooters. 

  • Mangalore Refinery and Petrochemicals is falling sharply as its revenue declines 15% QoQ to Rs 32,565.8 crore due to maintenance shutdowns impacting oil production and throughput. However, net profit soars 101% to Rs 1,900 crore, fueled by inventory destocking and lower raw materials & excise duty expenses. It shows up in a screener of stocks with a high market capitalisation but lower public shareholding.

  • Dr Reddy's Laboratories receives a Form 483 with three observations from the US FDA after an inspection at its Formulation Technical Operation-9 (FTO-9) facility in Visakhapatnam.

  • IDBI Bank falls after the government approves the sale of a 60.7% stake in the lender to Canada-based Fairfax Financial Holdings for Rs 52,878 crore. The transaction includes a 30.5% stake held by the government and 30.2% held by LIC. After the deal, the government and LIC will retain a combined 34% stake in the bank.

  • LTM rises after signing a multi-million-dollar, three-year managed services deal with a North American engineering and construction company. The company will consolidate the client’s infrastructure, cybersecurity and application administration services under an AI-led operating model to improve efficiency, service quality and operational resilience. 

  • Capri Global Capital's board of directors approves a Rs 4,000 crore fundraise by issuing equity or other securities through a qualified institutional placement (QIP) or other modes.

  • Bajaj Consumer Care is falling sharply as its Q2FY27 net profit drops marginally by 0.8% QoQ to Rs 70.2 crore due to higher raw materials and inventory costs. Revenue declines 2.3% to Rs 341.4 crore amid lower coconut oil prices despite higher sales. It appears in a screener of stocks with decreasing net cash flow.

  • Enviro Infra Engineers surges as its step-down subsidiary, Suyog Urja, secures a Rs 228 crore EPC order from Arie Energy to develop a 100 MW wind power project in Latur, Maharashtra. The project is to be completed by July 2027.

  • Tata Technologies' Q2FY27 net profit drops 5.2% QoQ to Rs 171.4 crore due to higher outsourcing, employee benefits, finance and depreciation & amortisation expenses. However, revenue grows 1.7% to Rs 1,730 crore, helped by traction in the services business. It shows up in a screener of stocks with declining return on equity (RoE) over the past two years.

  • Nifty 50 was trading at 22,711.35 (88.7, 0.4%), BSE Sensex was trading at 72,965.80 (183.9, 0.3%), while the broader Nifty 500 was trading at 22,049.75 (11.8, 0.1%).

  • Market breadth is in the red. Of the 2,201 stocks traded today, 857 showed gains, and 1,258 showed losses.

Riding High:

Largecap and midcap gainers today include Tata Communications Ltd. (1,749.70, 5.5%), Hindustan Petroleum Corporation Ltd. (348.50, 5.3%) and HDFC Asset Management Company Ltd. (2,415, 5.1%).

Downers:

Largecap and midcap losers today include YES Bank Ltd. (18.12, -14.5%), IDBI Bank Ltd. (83.07, -8.1%) and Nestle India Ltd. (1,275.80, -7.8%).

Movers and Shakers

26 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Gallantt Ispat Ltd. (618.20, 8.9%), Cemindia Projects Ltd. (1,220, 5.8%) and Rites Ltd. (211.80, 5.5%).

Top high volume losers on BSE were YES Bank Ltd. (18.12, -14.5%), HDB Financial Services Ltd. (538.20, -7.8%) and Nestle India Ltd. (1,275.80, -7.8%).

EIH Ltd. (294.45, 0.9%) was trading at 37.3 times of weekly average. BLS International Services Ltd. (225.25, 2.3%) and Tata Communications Ltd. (1,749.70, 5.5%) were trading with volumes 26.5 and 19.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks overperformed with 52 week highs, while 14 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Sun TV Network Ltd. (630, -3.5%), Shyam Metalics and Energy Ltd. (1,157.90, 1.4%) and Leela Palaces Hotels & Resorts Ltd. (589, -0.4%).

Stocks making new 52 weeks lows included - Blue Dart Express Ltd. (4,497, -0.2%) and MRF Ltd. (1,22,100, -0.2%).

23 stocks climbed above their 200 day SMA including Gallantt Ispat Ltd. (618.20, 8.9%) and Rites Ltd. (211.80, 5.5%). 19 stocks slipped below their 200 SMA including IDBI Bank Ltd. (83.07, -8.1%) and Nestle India Ltd. (1,275.80, -7.8%).

 
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