The headline equity benchmarks closed with modest gains on Wednesday, lifted by upbeat global cues. Investor sentiment improved ahead of an anticipated U.S. Federal Reserve rate cut and renewed optimism over a possible U.S.-China trade truce. The Nifty ended above the 26,050 level, driven by gains in energy and metal stocks.

The S&P BSE Sensex, surged 368.97 points or 0.44% to 84,997.13. The Nifty 50 index added 117.70 points or 0.45% to 26,053.90.

Adani Ports & SEZ (up 2.78%), Adani Enterprises (up 1.65%) and Reliance Industries (up 1.14%) boosted the indices today.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.68% and the S&P BSE Small-Cap index rose 0.56%.

The market breadth was positive. On the BSE, 2,446 shares rose and 1,727 shares fell. A total of 162 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.16% to 11.97.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.11% to 6.526 from the previous close of 6.533.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.2200 compared with its close of 88.2900 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement gained 1.55% to Rs 121,530.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 98.61.

The United States 10-year bond yield rose 0.18% to 3.990.

In the commodities market, Brent crude for December 2025 settlement gained 11 cents or 17% to $63.94 a barrel.

Global Markets:

Most European shares traded higher, while Asian indices ended mixed on Wednesday as investors awaited the Federal Reserve's upcoming interest rate decision.

The US Federal Reserve began its two-day meeting on Tuesday and is widely expected to deliver a 25-basis-point rate cut on Wednesday. The Bank of Japan will also announce its policy decision the same day, with analysts expecting it to keep rates unchanged.

Japan's Nikkei 225 index jumped over 1% to surpass 51,000 for the first time on Wednesday, setting a new record high. This surge was primarily driven by renewed optimism surrounding U.S.-Japan trade relations.

The gains followed a key event on Tuesday, where U.S. President Donald Trump and Japan’s Prime Minister Sanae Takaichi signed a new rare earths framework.

Trump's visit marked his first meeting with Takaichi, who recently assumed office; he also met Emperor Naruhito at the Imperial Palace.

Overnight, all three major U.S. indices closed higher on Tuesday. Nvidia shares led the gains after news emerged that the company will build artificial intelligence (AI) supercomputers for the U.S. Energy Department.

Investor optimism about corporate earnings ahead of key megacap results this week also contributed to the rise. The S&P 500 rose 0.23% to close at 6,890.89. It had surpassed the 6,900 level for the first time on an intraday basis earlier in the day.

The Nasdaq Composite advanced 0.80% to finish at 23,827.49, while the Dow Jones Industrial Average gained 161.78 points, or 0.34%, to settle at 47,706.37.

In addition to their closing highs, the tech-heavy Nasdaq and 30-stock Dow scored new all-time intraday highs alongside the broad market S&P 500.

Stocks in Spotlight:

Varun Beverages surged 9.31% after the company’s consolidated net profit rose 18.5% year-on-year to Rs 745.19 crore in Q3 calendar year (CY) 2025, compared with Rs 628.83 crore in Q3 CY2024, driven by lower finance costs, favourable currency movements in overseas markets, and higher other income. Revenue from operations (net of excise and GST) increased 1.9% YoY to Rs 4,896.65 crore from Rs 4,804.68 crore in Q3 CY2024.

Further, the company has amended its Memorandum of Association to include the manufacture and distribution of alcoholic beverages, including beer, wine, whisky, brandy, gin, rum, and vodka, in both India and international markets. The company said it aims to tap into the growing demand for ready-to-drink (RTD) and premium alcoholic beverages, which offer strong long-term growth potential.

Tata Capital fell 1.37%. The company’s consolidated net profit increased 2% to Rs 1,097.32 crore on 7.8% jump in total income to Rs 7,753.17 crore in Q2 FY26 over Q2 FY25.

Shree Cement rose 2.16% after the company’s consolidated net profit surged 303.6% to Rs 308.51 crore in Q2 FY26 from Rs 76.44 crore posted in Q2 FY25. Net sales jumped 17.4% YoY to Rs 4,761.07 crore in Q2 FY26.

Adani Green Energy advanced 10.80% after the company reported a 111.2% surge in consolidated net profit to Rs 583 crore in Q2 September 2025 despite a 5.3% decline in net sales to Rs 2,824 crore in Q2 FY26 over Q2 FY25.

Adani Total Gas surged 2.15%. The company reported an 11.9% decline in consolidated net profit to Rs 163.49 crore despite of 19.1% jump in net sales to Rs 1451.26 crore in Q2 FY26 over Q2 FY25.

Go Digit General Insurance rose 1.23% after the company’s standalone net profit jumped 30.22% to Rs 116.51 crore in Q2 FY26, compared with Rs 89.47 crore in Q2 FY25. Total income rose 10.70% year on year to Rs 2,408.37 crore in Q2 FY26 over Q2 FY25.

Mahindra & Mahindra Financial Services added 6.07% after the NBFC’s standalone net profit jumped 54.08% to Rs 569.31 crore in Q2 FY26 as against Rs 369.47 crore reported in Q2 FY25. Total income increased by 14.37% year on year to Rs 4,489.24 crore in the quarter ended 30 September 2025.

Fischer Medical Ventures jumped 7.24% after the company’s consolidated net profit surged to Rs 13.89 crore in Q2 FY26 from Rs 0.23 crore posted in Q2 FY25. Revenue from operations more than doubled to Rs 86.30 crore in September’25 quarter from Rs 39.65 crore recorded in the same period last year.

DCM Shriram rose 2.17% after the company’s consolidated net profit jumped 152.5% year-on-year to Rs 158.7 crore in Q2 FY26, compared with Rs 62.9 crore in Q2 FY25. Net sales increased 10.68% YoY to Rs 3,255.11 crore from Rs 2,940.95 crore in Q2 FY25.

PNGS Gargi Fashion Jewellery hit an upper limit of 20% after the company reported a consolidated net profit of Rs 10.27 crore in Q2 FY26, up 101.77% from Rs 5.09 crore in Q2 FY25. Sequentially, profit surged 93.3% from Rs 5.31 crore in Q1 FY26. Revenue from operations more than doubled to Rs 46.44 crore in Q2 FY26, a sharp 102.35% rise from Rs 22.95 crore in Q2 FY25. On a sequential basis, revenue increased 70.1% from Rs 27.31 crore in Q1 FY26.

Samhi Hotels fell 2.15% after its consolidated net profit surged 632.4% to Rs 92.43 crore on 11.8% rise in revenue from operations to Rs 292.97 crore in Q2 FY26 over Q2 FY25.

Ideaforge Technology added 1.55%. The company reported a consolidated net loss of Rs 19.62 crore in Q2 FY26, widening from Rs 13.73 crore in Q2 FY25. Despite the wider loss, the company’s revenue from operations increased 9.86% year on year (YoY) to Rs 40.76 crore during the quarter.

IPO Update:

Orkla India received bids for 1,24,14,260 shares as against 1,59,99,104 shares on offer, according to stock exchange data at 16:54 IST on Wednesday (29 October 2025). The issue was subscribed 0.78 times.