Nifty 50 closed at 22,698.85 (-50.9, -0.2%), BSE Sensex closed at 73,246.03 (-352.6, -0.5%) while the broader Nifty 500 closed at 21,727.45 (-7.5, 0.0%). Market breadth is holding steady. Of the 2,850 stocks traded today, 1,457 were in the positive territory and 1,340 were negative.

Indian indices closed lower as elevated crude oil prices and losses in IT stocks weighed on sentiment. The Indian volatility index, Nifty VIX, fell 1% and closed at 16.2 points. Jio Platforms' shares made their debut on the bourses at a 21.4% premium to the issue price of Rs 1,119. The Rs 30,213 crore IPO received bids for 22.2 times the total shares on offer.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher. Nifty Oil & Gas and Nifty IT are among the top index losers today. According to Trendlyne’s sector dashboard, Oil & Gas emerged as the worst-performing sector of the day, with a fall of 2.8%.

Asian markets closed mixed. European markets traded with varied trends. US index futures traded mixed. Investors await the US Fed’s interest-rate decision later today, with the central bank expected to keep rates unchanged. Markets, however, see a roughly 75% chance of another rate hike in December. Brent crude oil traded higher after Iran-backed Houthis claimed a missile strike on Saudi Arabia’s Ras Tanura refinery, raising fresh concerns over oil supply disruptions.

• Money flow index (MFI) indicates that stocks like ICICI Life Insurance Co, KSB and HDB Financial Services are in the oversold zone.

• Cholamandalam Investment & Finance is rising sharply as its board of directors approves a Rs 5,000 crore fundraise through a qualified institutional placement (QIP) of equity shares or other securities. Separately, its Q2FY27 net profit jumps 40.6% YoY to Rs 1,630.3 crore, owing to better asset quality. Revenue climbs 23.4% to Rs 9,394.5 crore, led by demand for vehicle finance, loan against property (LAP) and small & medium enterprises (SME) loans.

• Vedanta is rising as its Q2FY27 net profit surges 78.3% YoY to Rs 6,202 crore, led by inventory destocking and lower employee benefits and finance costs. Revenue soars 58% to Rs 26,866 crore, thanks to higher commodity prices, forex gains and higher volumes. It features in a screener of newly affordable stocks with good financials and durability.

• Godawari Power & Ispat receives approval from the Chhattisgarh Environment Conservation Board to operate its expanded steel melting shop (SMS) capacity at Siltara plant. The company had previously expanded SMS capacity at the plant to 5.8 lakh metric tonnes (MT) from 5.3 lakh MT.

• Info Edge's Q2FY27 net profit jumps 51.6% YoY to Rs 479.7 crore, while revenue increases 12.2% to Rs 903.9 crore. Growth is supported by higher revenue from the recruitment and 99acres segments. The company also announces a management transition, with Hitesh Oberoi stepping down as MD & CEO and moving to a non-executive director role. Sanjeev Bikhchandani takes over as MD & Group CEO, effective December 3.

• Arvind is rising sharply as it projects Q3 advanced materials business (AMB) revenue to grow 18%, driven by industrial capex, infrastructure development, mobility and specialty demand. It also guides for low double-digit growth in textile business revenue.

• According to Knight Frank India, private equity investment in India’s real estate sector declines 31% YoY to $1.7 billion in January–September 2026, despite transactions rising to 31 from 24 a year ago. The average deal size falls 47% to $53 million, while total institutional investment hits a six-year low. Domestic investors contributed towards 85% of India's real estate PE investment during the period, contributing $1.4 billion.

  India real estate PE investment drops 31% to $1.66 billion; domestic share jumps to 85% https://t.co/03b60qrrHU

  — Zee Business (@ZeeBusiness) October 28, 2026

• KPIT Technologies is rising sharply as its Q2FY27 net profit jumps 3.4% QoQ to Rs 120.7 crore, helped by lower raw materials and finance costs. Revenue grows 0.9% QoQ to Rs 1,699.1 crore, driven by higher traction in the Americas and Rest of the World markets. It appears in a screener of stocks with zero promoter pledges.

• Steel Authority of India is falling sharply as it cuts its FY27 sales guidance by 4.5% to 21 million tonnes (MT) as prolonged monsoons in Jharkhand & Odisha disrupt mining and logistics operations and plant repairs. Management has also shifted its focus to cost optimisation rather than sales growth to offset higher input costs. Separately, the company plans capex of Rs 1.4 lakh crore through FY31 for capacity expansion.

• Adani Ports & SEZ raises its FY27 revenue guidance by 2.3% to Rs 45,000 crore, driven by international ports scale-up, global fleet expansion and entry into subsea services. It also increases its capex outlook by 23.1% to Rs 16,000 crore to support domestic port capacity and international footprint.

• According to Jefferies, India’s credit card growth remains healthy at 9.5% YoY, despite a decline in overall sector spending due to a higher base in the previous year. Total cards-in-force (CIF) rises to 123.8 million in September 2026, up from 9% growth in August. However, total credit card spending declines 6.2% during the month, compared with 5.5% growth in the previous month.

  India’s credit card growth stays healthy at 9.5% YoY in Sep despite a 6.2% y-o-y spending drop, per Jefferies. https://t.co/pwUi2lJ7pB

  — businessline (@businessline) October 28, 2026

• Anand Rathi retains a 'Buy' call on Bajaj Auto, with a higher target price of Rs 14,300 per share. This indicates a potential upside of 36.1%. The brokerage remains positive on the stock, driven by two-wheeler demand, a richer mix and EV expansion. It expects the company to deliver a revenue CAGR of 11% over FY27-29.

• City Union Bank is rising as its net profit grows 26.6% YoY to Rs 415.9 crore in Q2FY27. Revenue increases 26.6% to Rs 2,092.3 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 98 bps and 42 bps, respectively.

• Tata Capital is rising sharply as its Q2FY27 net profit soars 51.3% YoY to Rs 1,659.9 crore, thanks to lower impairment costs & provisions, better asset quality and AI integration. Revenue climbs 20.7% to Rs 9,356.1 crore, fueled by a ramp-up in retail and small & medium enterprises (SME) lending segments. It features in a screener of stocks with high trailing twelve-month (TTM) EPS growth.

• Amit Anwani, Research Analyst at PL Capital, says the Defence Acquisition Council’s (DAC) approvals improve order book visibility for defence companies awaiting procurement clearances. He expects BEL and HAL to remain in focus on the back of order prospects and valuation corrections, while MDL, Cochin Shipyard and GRSE could benefit from upcoming naval procurement programmes. Defence electronics companies may also gain as new platforms move towards implementation.

  Rs 2.1 lakh crore DAC approvals: HAL, BEL, Mazagon Dock in focus; where does analyst see opportunities? https://t.co/pOZ89H2K6T

  — ET NOW (@ETNOWlive) October 28, 2026

• Larsen & Toubro is rising sharply as its Q2FY27 net profit jumps 32.5% YoY to Rs 5,202.1 crore, helped by lower finance costs and higher profitability in the financial services segment. Revenue grows 16.8% to Rs 81,056.2 crore, supported by strong execution in the infrastructure, conventional & renewable energy, manufacturing, IT and financial services segments. It features in a screener of stocks with rising net cash flow and cash from operating activities.

• Alembic Pharmaceuticals is rising as it receives US FDA approval for its abbreviated new drug application (ANDA) for Valganciclovir oral solution. The solution is a therapeutic equivalent to the reference listed drug (RLD), Valcyte oral solution, of CHEPLAPHARM Arzneimittel and is used to treat cytomegalovirus (CMV) retinitis in patients with acquired immunodeficiency syndrome (AIDS), and in kidney, heart, or kidney-pancreas transplants. It has an estimated global market size of $1.6 billion in 2026.

• Paras Healthcare's shares debut on the bourses at a 3.9% premium to the issue price of Rs 693. The Rs 1,450 crore IPO received bids for 2.2 times the total shares on offer.

• HSBC reiterates a 'Reduce' rating on Mazagon Dock Shipbuilders and cuts its target price to Rs 1,680. The brokerage points to weak Q2 performance and sees the P75(I) submarine programme order as a potential sentiment booster for Mazagon Dock, though its revenue impact may take two to three years to materialize. HSBC expects earnings to remain subdued through FY27–FY29, with investors closely tracking developments on the potential order.

  #MazagonDock Shipbuilders share price cut 10% by #HSBC after Q2 results on weak earnings fears https://t.co/k0ub3UUBY4

  — CNBC-TV18 (@CNBCTV18Live) October 28, 2026

• Piramal Pharma rises sharply as it turns profitable in Q2FY27 with a net profit of Rs 5.6 crore, compared with a Rs 99.2 crore loss a year ago. Profitability improves on higher capacity utilisation, better operating leverage, disciplined execution and cost optimisation. Revenue increases 28.1% YoY to Rs 2,617.1 crore, driven by broad-based growth across businesses during the quarter. The company appears in a screener of stocks with a PEG ratio lower than the Industry average.

• Jio Platforms' shares debut on the bourses at a 21.4% premium to the issue price of Rs 1,119. The Rs 30,213 crore IPO received bids for 22.2 times the total shares on offer.

• Subros is rising as it secures an order worth Rs 1,225 crore from Maruti Suzuki India to supply heating, ventilation & air conditioning (HVAC) assembly over seven years.

• GAIL India plans to invest Rs 600 crore in constructing a heating unit at its Ratnagiri LNG terminal to regasify liquefied natural gas (LNG). The facility, expected to be completed by June 2027, will enable the terminal to operate at its full capacity of 5 million tonnes per annum (mtpa). Currently, the terminal is operating at around 50% capacity due to the absence of the heating unit.

  GAIL makes a fresh LNG bet on India’s west coast | GAIL India is investing 6 billion rupees ($63.1 million) to build a heating unit at its Ratnagiri LNG terminal to help it gasify the super-chilled fuel, the company's business development director told reporters. The facility, due to be completed by June 2027, will enable the company to run the LNG terminal at its full capacity of 5 million tons per annum, R. K. Singhal said at an industry event. Full Report Here ???? https://t.co/W4rdOvzqU5 #India #Energy #LNG #GAIL #Infrastructure

  — Economic Times (@EconomicTimes) October 28, 2026

• Mishra Dhatu Nigam is rising as it signs a memorandum of understanding (MoU) with Bhabha Atomic Research Centre (BARC) to explore the production and recovery of cobalt and nickel from industrial scrap. The company aims to diversify its supply chain to meet the growing demand for these critical metals from advanced battery technologies, EVs, stainless steel and superalloy industries.

• JSW Cement's board of directors approves expanding grinding capacity at its Vijayanagar and Dolvi plants by 2 million tonnes per annum (MTPA) each, with a capex of Rs 1,078 crore. Separately, its Q2FY27 revenue jumps 32.1% YoY to Rs 1,929.3 crore, driven by volume ramp-up in North India and higher sales. However, net profit declines 1.2% to Rs 85.4 crore due to higher input, staff, finance, depreciation, power and freight costs.

• Karamtara Engineering is rising as it secures orders worth around Rs 1,199 crore across transmission and renewable energy segments. The orders strengthen its order book across power infrastructure and clean energy businesses.

• Maruti Suzuki India's Q2FY27 net profit declines 26.4% YoY to Rs 2,466.1 crore, hurt by higher commodity costs, adverse foreign exchange movements and lower non-operating income. However, revenue increases 26% to Rs 53,355.5 crore, driven by a rise in sales volumes, with domestic volumes growing 26.5%. The company appears in a screener of stocks with book value per share improving over the last two years.

• Nifty 50 was trading at 22,574.65 (-175.1, -0.8%), BSE Sensex was trading at 72,944.14 (-654.5, -0.9%), while the broader Nifty 500 was trading at 21,598.05 (-136.9, -0.6%).

• Market breadth is in the red. Of the 2,229 stocks traded today, 731 were on the uptick, and 1,422 were down.

Riding High:

Largecap and midcap gainers today include Voltas Ltd. (1,011.90, 6.9%), Patanjali Foods Ltd. (369.60, 6.2%) and Biocon Ltd. (350.70, 5.5%).

Downers:

Largecap and midcap losers today include Steel Authority of India (SAIL) Ltd. (162, -5.4%), Pidilite Industries Ltd. (1,389.60, -4.2%) and Bajaj Holdings & Investment Ltd. (10,461, -4.0%).

Volume Rockets

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

Top high volume gainers on BSE included Piramal Pharma Ltd. (230.60, 16.0%), Syngene International Ltd. (405, 10.6%) and Titagarh Rail Systems Ltd. (702, 7.5%).

Top high volume losers on BSE were Concord Biotech Ltd. (1,265.60, -8.0%), AWL Agri Business Ltd. (165.80, -6.0%) and Star Health and Allied Insurance Company Ltd. (520, -4.9%).

United Breweries Ltd. (1,185, 3.6%) was trading at 42.7 times of weekly average. KPR Mill Ltd. (1,095, 5.3%) and PG Electroplast Ltd. (536.40, 7.2%) were trading with volumes 12.5 and 8.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks hit their 52 week highs, while 26 stocks hit their 52 week lows.

Stocks touching their year highs included - Indian Hotels Company Ltd. (805.20, -0.9%), PVR INOX Ltd. (1,429.60, -2.4%) and Laurus Labs Ltd. (2,181.90, 1.9%).

Stocks making new 52 weeks lows included - Britannia Industries Ltd. (4,567.30, 0.2%) and Cera Sanitaryware Ltd. (4,450.50, -1.1%).

21 stocks climbed above their 200 day SMA including Apollo Hospitals Enterprise Ltd. (8,137, 4.4%) and Ola Electric Mobility Ltd. (36.12, 3.8%). 13 stocks slipped below their 200 SMA including Steel Authority of India (SAIL) Ltd. (162, -5.4%) and Star Health and Allied Insurance Company Ltd. (520, -4.9%).