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Firm trade persists over Dalal Street in early noon deals
Oct-06-2026

A firm trade persisted over the Dalal Street in early afternoon deals, with benchmarks trading near their intraday high points. Sentiments remained upbeat, after the World Bank has raised its GDP growth forecast for India for the current fiscal by half a percentage point to 7.1%, with this rapid expansion seen driving the broader South Asia region. Besides, India’s services sector expanded further in the month of September, as demand conditions remained supportive and new business rose at fastest pace since June. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index rose to 55.2 in September from 54.1 in August.

Both indices, Sensex and Nifty, were maintaining a positive bias with notable gains amid diminished expectations for another Federal Reserve interest-rate hike in October. Trent emerged as a major outperformer, surging over 10% following its upbeat quarterly business update, while Kotak Mahindra Bank was also lending support to the benchmarks. On the global front, Asian markets were trading mostly in green, 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 72839.31, up by 456.84 points or 0.63% after trading in a range of 72384.83 and 72875.26. There were 18 stocks advancing against 12 stocks declining on the index.

The top gaining sectoral indices on the BSE were Telecom up by 2.23%, Capital Goods up by 1.43%, Power up by 1.34%, Industrials up by 1.16% and Basic Materials up by 0.85%, while IT down by 0.97%, Realty down by 0.48% and TECK down by 0.22% were the only losing indices on BSE.

The top gainers on the Sensex were Trent up by 11.08%, Kotak Mahindra Bank up by 3.57%, Reliance Industries up by 2.61%, Hindustan Unilever up by 1.42% and Eternal up by 1.40%. On the flip side, Tech Mahindra down by 2.48%, Infosys down by 1.03%, Titan Company down by 1.02%, ITC down by 0.97% and Bajaj Finance down by 0.57% were the top losers.

Meanwhile, India’s services sector expanded further in the month of September, as demand conditions remained supportive and new business rose at fastest pace since June. Besides, improving sales performance lifted growth of business activity to a three-month high, while input-cost pressures on service providers eased to a 10-month low, reducing the need to raise selling prices.

According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index rose to 55.2 in September from 54.1 in August. New orders increased sharply in September and at the fastest rate in three months. Finance & insurance and consumer services recorded the strongest expansions in both activity and sales.

International demand for Indian services improved, but the growth of new export business eased to a moderate pace that was the slowest in close to three years. Besides, employment rose but at a moderate rate and lost some momentum from August, with the slowdown largely attributable to softer recruitment across the real estate and business services firms.

The survey report further noted that outstanding business volumes increased after falling in the previous two months, however, the rate of accumulation was only marginal. Meanwhile, Indian services companies remained optimistic about the year ahead, supported by resilient demand and rising customer enquiries.

Going ahead, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also increased from 54.3 in August to 55.9 in September, indicating the strongest upturn in private sector output since June. Still, the average for the second fiscal quarter was the lowest since the three months to March 2022.

The CNX Nifty is currently trading at 22687.45, up by 131.70 points or 0.58% after trading in a range of 22561.60 and 22700.70. There were 27 stocks advancing against 23 stocks declining on the index.

The top gainers on Nifty were Trent up by 10.89%, Kotak Mahindra Bank up by 3.75%, BSE up by 3.25%, JIO Financial Services up by 3.08% and HDFC Life Insurance up by 2.98%. On the flip side, Tech Mahindra down by 2.56%, Coal India down by 2.31%, ONGC down by 1.59%, Max Healthcare Institute down by 1.55% and Apollo Hospitals Enterprise down by 1.54% were the top losers.

Asian markets were trading mostly in green; Jakarta Composite gained 75.48 points or 1.23% to 6,194.34, Taiwan Weighted added 110.51 points or 0.22% to 49,822.55, Hang Seng advanced 157.66 points or 0.66% to 24,198.00, Nikkei 225 surged 806.14 points or 1.14% to 70,753.00 and Straits Times rose 7.84 points or 0.14% to 5,672.17, while KOSPI dropped 62.35 points or 0.9% to 6,941.39. Meanwhile, Chinese market remained closed on account of holiday.
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