Market Commentary - Mid-Session
23-Oct-2025 13:39
Indices trade with strong gains; European mrkt advance
Barring Oil & Gas all the sectoral indices on the NSE were traded in green with IT, private bank and PSU Bank shares leading the rally.
At 14:25 ST, the barometer index, the S&P BSE Sensex rallied 668.14 points or 0.79% to 85,094.48. The Nifty 50 index rose 181.50 points or 0.70% to 26,050.40.
In the broader market, the S&P BSE Mid-Cap index advanced 0.32% and the S&P BSE Small-Cap index fell 0.06%.
The market breadth was negative. On the BSE, 2,032 shares rose and 2,078 shares fell. A total of 172 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was rose 4.33% to 11.79.
Gainers & Losers:
Infosys (up 4.79%), HCL Technologies (up 3.82%), Tata Consultancy Services (TCS) (up 2.80%), Shriram Finance (up 2.73%) and Tech Mahindra (up 2.18%) were the major Nifty50 gainers.
Eternal (down 2.37%), Bharti Airtel (down 1.22%), Interglobe Aviation (Indigo) (down 1.20%), Eicher Motors (down 1.19%) and Adani Ports & Special Economic Zone (APSEZ) (down 0.78%) were the major Nifty50 losers.
Infosys rallied 4.79% after the IT major said it has filed a draft letter of offer with the U.S. Securities and Exchange Commission (SEC) for its proposed Rs 18,000 crore share buyback. The IT major aims to buy back 10 crore shares at an average price of Rs 1,800 per share, representing up to 2.41% of the company's paid-up equity capital. This is the largest and the fifth buyback by the company in the last decade. The company also confirmed that its promoter and promoter group have expressed their intention not to participate in the buyback.
Economy:
The infrastructure output in India rose 3% from the previous year in September of 2025, slowing from the upwardly revised 6.5% increase in August, which was the sharpest pace of growth in over one year.
Production fell for coal, crude oil, natural gas, and refinery products, as the US continued to pressure India to halt the intake of Russian crude energy commodities, which pressured domestic consumption and export demand for refineries and processers.
In turn, electric power output also slowed. Still, construction inputs were more robust, with cement output holding loosely unchanged and steel production accelerating.
Stocks in Spotlight:
Tata Teleservices (Maharashtra) declined 1.52% after the company reported net loss of Rs 320.82 crore in Q2 FY26 compared with loss of Rs 330.39 crore posted in corresponding quarter last year. Revenue from operations fell 16.7% YoY to Rs 286.13 crore during the quarter ended 30th September 2025.
Epack Prefab Technologies surged 16.63% after the company's consolidated net profit surged 104.2% to Rs 29.47 crore on 61.9% increase in net sales to Rs 433.94 crore in Q2 FY26 over Q2 FY25.
Gulshan Polyols surged 8.60% after the company secured an order worth Rs 1,185 crore to supply ethanol to oil marketing companies under the Ethanol Blended Petrol Programme (EBPP). The company will supply 1,75,652 Kiloliters of ethanol to Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL) and Mangalore Refinery And Petrochemicals (MRPL).
Zaggle Prepaid Ocean Services announced that it has entered into an agreement with Megha City Gas Distribution. Under the agreement, Zaggle will provide its Fleet Program to Megha City Gas Distribution. The contract is set to be executed over a period of five years.
Global Markets:
Most European markets advanced as investors prepared for earnings reports that could provide clues on business activity and confidence in the region.
Asia-Pacific markets declined on Thursday, mirroring losses on Wall Street as renewed concerns over U.S.-China trade tensions weighed on sentiment.
Trade fears resurfaced after reports on Wednesday suggested that the Trump administration is considering new export restrictions on products made with U.S. software and technology destined for China.
According to a U.S. official and three individuals briefed by authorities, the potential measures could cover a broad range of goods ' from laptops to jet engines ' though the plan remains under discussion and may not ultimately be implemented.
U.S. equity futures edged lower in early Asian trading after all three major U.S. benchmarks fell overnight, pressured by disappointing earnings from companies such as Texas Instruments and Netflix.
The Dow Jones Industrial Average slipped 334.33 points (0.71%) to 46,590.41, while the S&P 500 declined 0.53% to 6,699.40. The Nasdaq Composite dropped 0.93% to 22,740.40.
At their session lows, the Dow had fallen over 400 points, and the S&P 500 and Nasdaq were down 1.2% and 1.9%, respectively.
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