GIFT Nifty Opening Update
GIFT Nifty opened today at 23,100.50. It is up 95.00 points (0.41%) from yesterday’s close of 22,988.00- so the trend is positive.
The Indian stock market is anticipated to commence trading on a positive note on Friday, October 16, buoyed by favourable indicators from GIFT Nifty. The index was trading around 23,106, up nearly 118 points, or 0.51%, from the previous close of Nifty futures, indicating a positive start for domestic benchmark indices. Indian equity benchmarks experienced a significant rally on Thursday, with the Sensex climbing more than 1,500 points to reach a three-week high. The rally was underpinned by robust purchasing in banking and IT sectors, alongside Reliance Industries, while a decrease in crude oil prices further enhanced investor sentiment.
The 30-share BSE Sensex surged by 1,533.72 points, representing a 2.11% increase, to close at 74,315.61, approaching its intraday high. During the session, the index advanced 1,548.4 points, or 2.12%, to reach 74,330.29. Meanwhile, the NSE Nifty 50 climbed 374.65 points, or 1.66%, to end at 22,997.35, marking its highest closing level since September 25. Meanwhile, several equities are anticipated to attract attention on Friday as firms disclose significant corporate advancements. Updates regarding order wins, business performance, expansion plans, and other company-specific developments may influence fluctuations in individual stocks throughout the trading session. Urban Company, Reliance Industries, Wipro, Tech Mahindra, Jio Financial Services, and Yes Bank are among the shares that will attract attention on Friday.
Equities to Monitor:
- Punjab National Bank, Urban Company, Bajaj Housing Finance, Federal Bank, LTM shares will remain in focus as companies are scheduled to release their Q2 results for 2026 today.
- Reliance Industries – Akash Ambani seeks to strategically position Jio Platforms to capture a significant portion of India’s anticipated $1.4 trillion digital economy by FY31, utilising its technological strengths, nationwide 5G network, and infrastructure investments.
- Wipro – The Bengaluru-based IT services company anticipates its revenue growth for Q3FY27 to fall within a range of -1.5% to 0.5% sequentially, when measured in constant currency terms. Revenue in US dollar terms amounted to $2,611.5 million, reflecting a decline of 0.1% compared to the June quarter. In rupee terms, revenue experienced a growth of 0.8%, rising to Rs 24,667 crore from Rs 24,478.6 crore in the preceding quarter.
- Yes Bank shares experienced a decline of 14.53%, closing at Rs 18.12 on the NSE, following the Supreme Court’s ruling against the bank’s 2020 write-off of Additional Tier-1 bonds valued at Rs 8,400 crore. The write-off was executed as a component of the lender’s rescue and restructuring initiative.
- Tech Mahindra declared an interim dividend of Rs 15 per share and sanctioned a 1:1 bonus issue, pending shareholder approval and other necessary clearances. Profit after tax experienced a quarter-on-quarter increase of 6.7%, rising to Rs 1,586 crore from Rs 1,486 crore.
- Persistent Systems’s net profit experienced a decline of 27.2% on a quarter-on-quarter basis, falling to Rs 352 crore from Rs 483 crore.
- Jio Financial Services reported a 132% year-on-year increase in second-quarter income, excluding dividend income, driven by the expansion of its lending operations and increasing momentum in digital financial services.
- Angel One declared an interim dividend of Rs 1.40 per share. Its net profit increased by 44.7% on a quarter-on-quarter basis, reaching Rs 334.9 crore, up from Rs 231.4 crore.
- Mankind Pharma’s consolidated net profit surged by 86.3% year-on-year to Rs 341 crore in Q2FY27, up from Rs 183 crore in the same quarter of the previous year.
- L&T Finance reported a 32.7% year-on-year increase in consolidated net profit, reaching Rs 975 crore in the second quarter of FY27, compared to Rs 735 crore in the same quarter of the previous year.
