Equity Alert
Nifty 50 Nov ends at 207.40-point premium to spot index
This story was originally published at 16:54 IST on 29 October 2025
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Equity Alert: Nifty 50 Nov ends at 207.40-point premium to spot index
MUMBAI--1613 IST--The November futures contract of the Nifty 50 closed at a premium of 207.40 points to the spot index Wednesday. Open interest in the contract rose 4.2% to 14.86 million, according to provisional data.
--Nifty 50 closed at 26053.90 points, up 117.70 points or 0.5% vs Tue
--Nifty 50 November closed at 26261.30 points, up 171.20 points or 0.7% vs Tue
Nifty 50 options, expiring Tuesday, with maximum change in open interest:
Call: 26500, Put: 26000
Nifty 50 options, expiring Tuesday, with maximum open interest:
Call: 26500, Put: 26000
(Anjana Therese Antony)
Equity Alert: Nifty 50 ends above 26000 pts for first time since Sept 2024
MUMBAI--1540 IST--Domestic equity indices closed higher Wednesday, with the Nifty 50 closing above 26000 points for the first time since September last year. Gains in three heavyweights HDFC Bank, ICICI Bank, and Reliance Industries--which hold a 30% weightage in the index--pushed the Nifty 50 to a new one-year closing high. However, a fall in large-cap automobile stocks limited some upside.
The Nifty 50 closed at 26053.90 points, up 117.70 points or 0.5%. The 50-stock index is 200 points away from its record high. Analysts had said the crossing and holding of 26100 points is necessary for further upside. The BSE Sensex closed at 84997.13 points, up 368.97 points or 0.4%.
Among sectoral indices, the Nifty Oil and Gas gained the most and closed 2% higher. This was largely due to sharp gains in shares of companies such as Indian Oil Corp., Hindustan Petroleum Corp., and GAIL (India). Brokerages are bullish on IOC, which closed 5.5% higher, after its earnings for the September quarter exceeded expectations. Further, they also see strong growth coming in as IOC is set to commission multiple projects in the next financial year.
Meanwhile, most automobile companies fell throughout the session, weighing down on the Nifty Auto index. TVS Motor Co., Mahindra & Mahindra, Maruti Suzuki India, and Hero MotoCorp fell 1-2%. TVS Motor had reported record revenue and net profit for the quarter ended September with some brokerages upgrading the stock and others retaining their 'accumulate' recommendations. Motilal Oswal Financial Services upgraded the stock to "buy" on consistent market share gains across key domestic and export segments, along with a gradual improvement in margins.
Investors also sold shares of wealth management and broking companies after the Securities and Exchange Board of India proposed a complete overhaul of mutual fund regulations. The market regulator proposed removing the additional 5-basis-point expense charge permitted for mutual funds to rationalise costs for investors in a consultation paper. Aditya Birla Sun Life AMC, HDFC Asset Management Company, Nippon Life India Asset Management, and Motilal Oswal Financial Services closed 3-7%. (Gopika Balasubramanium)
Equity Alert: Asian indices end mixed; Nikkei, Kospi scale new record highs
MUMBAI--1425 IST--Indices in Asia ended on a mixed note Wednesday amid renewed optimism that artificial intelligence will keep fuelling profits at major technology firms, hopes of a US-China trade deal, and expectations of another interest rate cut by the US Federal Reserve in its latest meeting. The equity market in Hong Kong was shut Wednesday for a public holiday. The central bank is widely expected to cut rates by another quarter point later in the day, bringing the key interest rates to a range of 3.75-4.00%.
Most Asian indices tracked gains across their US peers, which closed at record highs Tuesday after upbeat news from technology majors, Nvidia and Microsoft. Nvidia announced $500 billion in bookings for its AI chips and said it would build seven supercomputers for the US Department of Energy. Microsoft, meanwhile, reached a deal allowing OpenAI to restructure into a public benefit corporation while giving the software giant a stake of 27% in the ChatGPT developer. South Korea's Kospi scaled an all-time high Wednesday, helped by strong earnings and a bullish outlook from SK Hynix, a supplier of US chipmaker Nvidia.
Japan's benchmark Nikkei 225 index closed over 2% higher at 51307.65 Wednesday after hitting a fresh all-time high of 51412.97 during the session, lifted by optimism over US-Japan trade ties and hopes of a rate cut by the US Federal Reserve. On Tuesday, US President Donald Trump and Japan's Prime Minister Sanae Takaichi had signed a new rare-earths framework. Shares of Japanese chip-testing equipment supplier Advantest rose 22?ter it hiked its annual profit forecast by one quarter on surging demand. The country's broader Topix index, however, lost 0.2% as a rebound in the yen acted as a headwind for most exporters, Reuters reported.
China's CSI 300 closed over 1% higher Wednesday after ending lower in the previous session. Australia's S&P/ASX 200 lost around 1% Wednesday and closed at 8926.2. Australia's consumer prices rose 3.2% in the third quarter, the strongest gain in more than a year, CNBC reported citing the Australian Bureau of Statistics. The increase was higher than the 2.1% rise in the second quarter and was also above the 3% rise estimated by a Reuters poll.
Following were the levels of key Asian indices at 1415 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4747.84 | 1.19 |
|
Nikkei 225 Day |
51307.65 | 2.17 |
|
TOPIX FIRST SECTION |
3278.24 | (-)0.23 |
|
KOSPI |
4081.15 | 1.76 |
|
FTSE Singapore Strait Times |
4442.34 |
(-)0.18 |
|
S&P/ASX 200 Index |
8926.2 | (-)0.96 |
(Arya S. Biju)
Equity Alert: European market largely flat; UK FTSE 100 hits historic high
MUMBAI--1431 IST--European indices opened largely flat as investors await US Federal Reserve's rate cut decision due later in the day. The UK's FTSE 100 Index climbed to a record high in early trade. In Europe, shares of mining companies and health care companies gained while those of telecommunications companies fell. Investors will watch out for the comments from Chair Jerome Powell on the state of US economy and future policy decisions.
If the US Fed were to act as widely expected, the federal funds rate would fall between 3.75% and 4.00%, down by 25 basis points. It had cut the target range by 25 bps to 4.00-4.25% in its September meeting.
The UK's FTSE 100 Index climbed to a lifetime high of 9739.18 in early trade and at 1431 IST, it was up 0.4%. Meanwhile others such as France's CAC 40, Italy's FTSE MIB Index, Germany's DAX Performance Index was marginally higher. Switzerland's SLI PR was up 0.1%.
Among stocks, Mercedes rose over 6?ter the German carmaker reported better-than-expected margins in its core automobile business. UBS gained nearly 2?ter the bank's net profit for the September quarter surged 74%, beating expectations. Deutsche Bank rose nearly 3?ter it posted a 7% increase in this quarter against expectation of a decline.
Following were the levels of major European indices at 1431 IST:
|
Index |
Level |
Change in % |
|
FTSE 100 Index |
9736.23 | 0.41 |
|
CAC 40 |
8211.66 | (-)0.06 |
|
MIB INDEX |
43161.33 | 0.08 |
|
DAX PERFORMANCE-INDEX |
24282.9 | 0.02 |
|
SLI |
2021.14 | 0.12 |
(Gopika Balsubramanium)
Equity Alert: JM Fincl upgrades M&M Fincl to to 'add'; ups target price by 18.5%
MUMBAI--1255 IST--JM Financial Institutional Securities has increased its target price on Mahindra & Mahindra Financial Services by 18.5% to INR 320 from INR 270 earlier. It has also upgraded its rating on the non-banking financial company to 'add' from 'hold'. The brokerage believes that the fall in assets under management growth to 13% on year in the September quarter from 28% in the June quarter of 2023-24 (Apr-Mar) would take slightly longer to recover on the back of softer disbursal trends in the past few quarters. With the management showing confidence in keeping credit costs at 1.7% of assets for FY26, the brokerage remains confident in the company's asset quality in the second half of FY26.
The company's higher share in the fixed rate loan book and the recently raised funds through rights issue is also expected to support its net interest margins, JM Financial said. The non-banking financial company Tuesday reported better-than-expected net profit for the September quarter at INR 5.69 billion, up 54% on year. It reported a 50 bps year-on-year improvement in net interest margin for the quarter to 7%. The income from fees, charges, and commissions grew over 70% on year and nearly 23% sequentially to INR 1.96 billion. The revenue from operations grew over 14% on year and marginally on a sequential basis to INR 44.73 billion in Jul-Sept.
At 1245 IST, shares of the company traded nearly 5% higher at INR 314.60 on the National Stock Exchange. Till this time, over 12 million shares of the company had changed hands on NSE Wednesday, 19 times the 642,127 shares traded till the same time Tuesday. (Durva A. Shivalkar)
Equity Alert: Wealth mgmt cos dn after SEBI proposes axing MF expense charge
MUMBAI--1144 IST--Shares of many wealth management and broking companies tanked Wednesday after the Securities and Exchange Board of India proposed a complete overhaul of mutual fund regulations. In a consultation paper, the market regulator proposed removing the additional 5-basis-point expense charge permitted for mutual funds to rationalise costs for investors.
Shares of Aditya Birla Sun Life AMC, HDFC Asset Management Company, Nippon Life India Asset Management, and Motilal Oswal Financial Services were among the worst hit stocks in the sector, down 4-8%. Among other stocks that fell were Canara Robeco Asset Management Company, Nuvama Wealth Management, and UTI Asset Management Company, which were down 2-4%.
The proposal will be negative for asset management companies as the expense charge will be directly reduced from the equity total expense ratio, which is an annual fee that asset management companies charge for managing a mutual fund. This fee is a percentage of a fund's total assets and covers the costs of running the fund, including management fees, administrative costs, legal fees, and marketing.
"As per SEBI, since AMCs already charge an MF fees, additional brokerage over and above 2 bps would lead to a dual impact on customer. This would certainly be negative for brokers," brokerage Prabhudas Lilladher said in its report. If implemented, the core earnings of HDFC AMC, Nippon Life, Aditya Birla, and UTI AMC will be affected by 8-9%, the broking house said. (Anjana Therese Antony)
Equity Alert: Cohance Life falls to 16-mo low after MD Prasada Raju resigns
MUMBAI--1100 IST--Shares of Cohance Lifesciences fell 11% to a low of INR 766.80, their lowest level since June 2024, after the company said its managing director had resigned. At 1041 IST, the stock was down 9% at INR 782 and was the worst hit in the Nifty 500. The company announced his resignation post market hours Tuesday.
V. Prasada Raju resigned from the post of the company's managing director with effect from Tuesday, the company had notified the exchanges. "However, he will continue to be available with the company in terms of his contractual terms with the company and to facilitate seamless transition of his duties and responsibilities," the exchange filing said. In his resignation letter, Raju said he quit the post after "careful consideration of my personal priorities and to continue my learning journey."
Till 1041 IST, 3.96 million shares of the company were traded on the NSE, sharply higher than the 124,039 shares traded till the same time Tuesday. Of the two brokerage ratings on the company available with Informist, one has a 'buy' rating with a target price of INR 1,365 and one has a 'sell' rating with a target price of INR 571. (Akash Mandal)
Equity Alert: Indices open on positive note as Nifty 50 crosses 26000 points
MUMBAI--0933 IST--Benchmark equity indices started the session on a positive note Wednesday, with most Nifty 50 constituents trading higher. The Nifty 50 managed to cross the psychologically crucial 26000 level in early trade, with 26100 points being the next key resistance. However, the broader market underperformed the benchmark indices, with most broader market indices in the red.
At 0930 IST, the Nifty 50 was at 26014.20 points, up 78 points or 0.3%, and the BSE Sensex was at 84859.73 points, up 231.57 points or 0.3%. Most sectoral indices were higher, with the Nifty Metal up for the sixth straight session and being the top gainer among sectors. Steel Authority of India, Hindustan Copper, and Vedanta were up 2-4%.
Broking firms and asset management companies were lower in early trade after the Securities and Exchanges Board of India proposed changes for the mutual funds industry, including lower brokerage costs. The regulatory body proposed reduction in the cap on brokerage and transaction costs, with cash market brokerage falling to 2 basis points from 12 bps, and derivative transactions to 1 bps from 5 bps. Motilal Oswal Financial Services, HDFC Asset Management Co., 360 ONE WAM, Nuvama Wealth Management, Nippon Life India Asset Management, and Aditya Birla Sun Life AMC were down 3-6%.
Among other stocks, Mahindra & Mahindra Financial Services was up 4% and was the top gainer in the Nifty 200 after its September quarter net profit beat analysts' estimates. DCM Shriram and Blue Dart Express rose 7% and 9%, respectively, and topped the Nifty 500 after robust earnings growth in the reporting quarter. (Akash Mandal)
Equity Alert: Brokerages raise rtg, target price on TVS Motor post strong Q2
MUMBAI--0822 IST--Many brokerages raised their rating recommendations, target prices, and estimates on TVS Motor Co. after the two-wheeler maker reported robust 37% on-year growth in its bottom line for the September quarter at INR 9.06 billion. The stock, however, ended Tuesday's session at INR 3,562 on the NSE, down 2.1% from the previous close. Analysts had expected the company's net profit at INR 9.58 billion.
Nirmal Bang Equities upgraded the stock to 'hold' from 'sell' and raised the target price by 9% to INR 3,589 as it was positive on the company's broad-based growth during Jul-Sept, driven by higher volumes and a premium mix in its portfolio. "TVS has outperformed the two-wheeler industry and we expect this outperformance to sustain at a volume CAGR of 14% over financial year ended 2025 to FY27...we have adjusted our estimates upwards for FY26/27 earnings per share as we expect lower Goods and Services Tax rates to boost demand for vehicles, particularly in the entry-level segments across semi-urban and rural markets," the brokerage said in its report. However, it also said most positives are factored into the stock's target price.
Morgan Stanley maintained an 'overweight' rating on the stock and raised the target price by 2% to INR 4,022. The automobile maker is the best placed in the industry to benefit from increased demand, the global brokerage was reported by NDTV Profit as saying. The brokerage expects "scooterisation" and premiumisation to be key growth drivers in the two-wheeler market. The company is expected to continue delivering growth and improved market share and margins, it added.
"Growth momentum is likely to be in double digits across both domestic and export markets," Nuvama Wealth Management said in its report. The company's domestic market share is expected to rise to 19% in 2027-28 (Apr-Mar) from 18% in FY25. "...we forecast margin expansion ahead due to better scale/mix, higher PLI benefits and cost savings," the brokerage added. It kept a 'buy' rating on the stock with a target price of INR 4,100. (Akash Mandal)
Equity Alert: Most Asian mkts up on trade-related optimism, Fed rate cut hope
MUMBAI--0805 IST--Most Asian stock markets tracked the gains in the US and rose Wednesday amid hopes of a US-China trade deal and on optimism about a rate cut by the US Federal Reserve later in the day. The MSCI Asia-Pacific index, excluding Japan, was up 0.6%. Equity markets in South Korea, Japan, and Taiwan reached their new all-time highs and were the top three gainers in Asia.
Japan's Nikkei 225 hit a fresh record high of 51301.55 points and was up 2% to become the top gainer amid optimism about trade ties between the country and the US. This came after US President Donald Trump and the newly elected Japanese Prime Minister Sanae Takaichi signed a new rare earths framework Tuesday.
South Korea's Kospi was up 1.6%, supported by strong earnings and a bullish outlook from Nvidia chip supplier SK Hynix. Shares of Nvidia had closed sharply higher in the US after the company said it would build seven supercomputers for the US Department of Energy. Taiwan's Taiex was almost 1% higher, and China's CSI 300 up 0.3%. On the other hand, Australia's S&P/ASX 200 was down 0.7% and was the worst hit in the Asia-Pacific region. Hong Kong's Hang Seng index was 0.3% lower, snapping a three-day winning run. FTSE Singapore ended a six-day gaining run and was down 0.3%.
Investors now wait for the US Federal Reserve's monetary policy outcome Wednesday and markets are likely to have priced in the possibility of a 25-basis-point rate cut. Along with the interest rate decision, markets will be watching whether the apex bank will halt its long-running effort to shrink its balance sheet, known as quantitative tightening, Reuters reported.
Following were the levels of key Asian indices at 0805 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4705.7217 |
0.28 |
|
Hang Seng Index |
26346.14 |
(-)0.33 |
|
Nikkei 225 Day |
51249.82 |
2.05 |
|
TOPIX FIRST SECTION |
3286.68 | 0.03 |
|
KOSPI |
4070.78 |
1.42 |
|
FTSE Singapore Strait Times |
4435.43 |
(-)0.34 |
|
S&P/ASX 200 Index |
8946.5 |
(-)0.73 |
(Anjana Therese Antony)
Equity Alert: Indices may consolidate further; US FOMC policy decision eyed
MUMBAI--0802 IST--Benchmark indices are likely to consolidate further Wednesday after strong gains so far in October and due to a lack of fresh triggers for further gains. Some choppiness is expected, as seen in Tuesday's session, and the Nifty 50's rise over the psychologically crucial 26000 level may not be a smooth one, technical analysts said.
The sentiment, however, still remains positive as long as the 50-stock index stays above the 25650-25700 levels, despite a pause in the rally seen in the past couple of weeks, analysts said. The November contract of the GIFT Nifty indicated a flat to slightly higher start for the market. At 0757 IST, the contract was at 26165 points, up 39 points. On Tuesday, the Nifty 50 had ended at 25936.20 points, down 29.85 points or 0.1%. The BSE Sensex closed at 84628.16 points, down 150.68 points or 0.2%.
Overnight, indices in the US hit fresh highs, powered by a 5% surge in Nvidia after the company said it will build artificial intelligence supercomputers for the US energy department. Investors now await the decision of the US Federal Reserve's policy meeting due later in the day, with markets expecting a 25-basis-point interest rate cut. Meanwhile, Asian indices were mixed in early trade Wednesday. Japan's Nikkei 225 and South Korea's Kospi hit record highs in early trade. (Akash Mandal)
Equity Alert: US mkt hits record high again Tue on trade optimism, earnings
MUMBAI--0741 IST--The US stock market hit fresh all-time closing highs for the second session in a row Tuesday amid optimism about a trade deal between the US and China and ahead of the earnings of major information technology players this week. There is hope that the US Federal Reserve will reduce key rates at the outcome of its two-day monetary policy meeting, due later in the day.
Trade tensions between China and the US appear to have eased and the two countries are expected to sign a trade deal Thursday. "The market is seeing President Trump re-engaging with the rest of the world again (i.e., China and Japan), and this is a good thing, insofar as it may temper his desire for more tariffs," said Thierry Wizman, global FX and rates strategist at Macquarie Group, CNBC-TV18 reported. However, expensive valuations and shutdown of the US government remain key risks for a market that is at a record high, as per the news report.
The tech-heavy Nasdaq Composite index was the top gainer among the three headline indices, while the S&P and Dow Jones Industries Average closed 0.2-0.3% higher. Earnings of Alphabet, Meta Platforms and Microsoft are scheduled to be released after US market hours Wednesday and Apple and Amazon will detail their results Thursday, CNBC-TV18 reported.
All eyes will be on the US central bank as it is widely expected to cut interest rates by 25 basis points to 3.75-4.00%. Investors will closely watch for Chairperson Jerome Powell's comments about the future rate trajectory, economic strength, and inflation.
Shares of Nvidia closed 5% higher after the company said it would build seven supercomputers for the US Department of Energy. The company has $500 billion in bookings for its artificial intelligence chips, it said. The stock added over $230 billion in market value, taking the company on the verge of becoming the first entity worth $5 trillion, Reuters reported.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6890.89 |
0.23 |
|
NASDAQ Composite |
23827.493 |
0.8 |
|
Dow Jones Industrial Average |
47706.37 |
0.34 |
(Anjana Therese Antony)
End
US$1 = INR 88.20
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Nishant Maher
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