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Key gauges continue to trade higher in late morning deals
Oct-06-2026

Indian equity benchmarks continued to trade higher in late morning deals helped by overnight fall in crude oil prices amid signs of improving crude shipments from the Middle East and positive global cues. Traders took support with a survey showed India's dominant services industry expanded at its fastest pace in three months in September on stronger demand for financial, consumer and digital services. HSBC's India Services Purchasing Managers' Index (PMI) rose to 55.2 from August's 54.1, but was below a preliminary estimate of 55.8. Meanwhile, the Reserve Bank of India (RBI) began its three-day Monetary Policy Committee (MPC) meeting on Monday, with policy decision due on Wednesday, amid rising inflation, crude oil prices.

Both Sensex and Nifty were trading with gains of around half percent each with buying interest visible in Telecom, Power and Capital Goods. However, IT and TECK stocks remained under pressure. On the global front, Asian markets were trading mostly in green following the broadly positive cues from Wall Street overnight, amid declining crude oil prices on signs of increasing supply from the Middle East to pre-war levels despite continued risks to shipping.  

The BSE Sensex is currently trading at 72734.07, up by 351.60 points or 0.49% after trading in a range of 72384.83 and 72767.11. There were 18 stocks advancing against 12 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 2.12%, Power up by 1.13%, Capital Goods up by 1.01%, Basic Materials up by 0.98% and Industrials up by 0.94%, while IT down by 0.79%, TECK down by 0.28% and Realty down by 0.04% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 10.82%, Kotak Mahindra Bank up by 3.41%, Reliance Industries up by 1.59%, Axis Bank up by 1.23% and Hindustan Unilever up by 1.14%. On the flip side, Tech Mahindra down by 1.70%, ITC down by 1.06%, Infosys down by 1.03%, HCL Technologies down by 0.79% and Mahindra & Mahindra down by 0.78% were the top losers.

Meanwhile, Union telecom minister Jyotiraditya Scindia has said that India should aim to expand 5G connectivity to around 100 crore mobile subscribers by 2030, up from 50 crore at present. He said 5G services were officially introduced in India in October 2022 and, over a period of 23 months, the country established 5 lakh base stations with investment worth $550 billion. He said ‘today 99.9 per cent of our districts are connected by 5G. 86 per cent of our population and close to 500 million customers are on 5G alone in a period of two years--the fastest 5G rollout in the world. We will not stop here. It is our target that by 2030, we must have a billion customers from 500 million today on 5G.’

The minister said that 5G systems are connecting machines with intelligence for transactions, and the fintech revolution, which is part of the AI revolution, is inseparable from the connectivity revolution. He said ‘today in India, we conduct close to 49 per cent of global real-time digital payment volumes. That means one in every two transactions across 170 countries in the world is done in India. Therefore, every QR code payment behind it lies an invisible architecture, an architecture of telecom networks carrying transactions, an architecture of digital identities carrying trust.’

He further said that the government has undertaken a $16-billion programme called Bharatnet to provide broadband connectivity to every gram panchayat, which is an agglomeration of three to four villages, with a 100 Mbps connection. The minister touched upon the government's effort to curb digital frauds through the Sanchar Saathi platform. He said ‘Sanchar Saathi app has 300 million downloads, where we report suspicious connections, report fraud, and block suspicious mobiles. Our AI-powered Astra system has disconnected 8.8 million mobile phones that were suspicious of fraud.’ He added that ‘the Reserve Bank of India has mandated our financial fraud risk indicator to be adopted by all banking institutions to protect citizens' interests.’

The CNX Nifty is currently trading at 22662.90, up by 107.15 points or 0.48% after trading in a range of 22561.60 and 22677.95. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Trent up by 11.36%, Kotak Mahindra Bank up by 3.65%, JIO Financial Services up by 2.65%, HDFC Life Insurance up by 2.58% and BSE up by 2.28%. On the flip side, Tech Mahindra down by 1.74%, ITC down by 1.43%, Max Healthcare down by 1.21%, Coal India down by 1.06% and Infosys down by 1.02% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 755.14 points or 1.08% to 70,702.00, Taiwan Weighted added 63.05 points or 0.13% to 49,775.09, Jakarta Composite gained 77.23 points or 1.26% to 6,196.09 and Hang Seng advanced 132.66 points or 0.55% to 24,173.00.

On the flip side, Straits Times fell 4.01 points or 0.07% to 5,660.32 and KOSPI dropped 73.69 points or 1.05% to 6,930.05.
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