Opening Bell: Sensex Gains 5 Points, Nifty 50 Rises 3 Points as IT Shares Advance; 20 Stocks to Announce Q2 Results Today

Market Update at 09:30 AM: The benchmark indices Sensex and Nifty 50 opened marginally higher on Friday, supported by gains in IT shares, despite a decline in global technology stocks following disappointing earnings reports from Wall Street giants. As of 9:19 AM, the BSE Sensex rose 5.16 points, or 0.01 per cent, to 74,156.20, while the Nifty 50 gained 3.75 points, or 0.02 per cent, to 22,940.50.

Among the Nifty 50 constituents, Trent, Sun Pharmaceutical Industries and InterGlobe Aviation emerged as the Top Gainers. However, broader markets witnessed selling pressure, with the Nifty MidCap 100 declining 0.54 per cent and the Nifty SmallCap 100 falling 0.86 per cent.

Sectorally, the Nifty IT index emerged as the top-performing sector, while the Nifty Consumer Durables index recorded the steepest decline.

On the earnings front, 20 companies are scheduled to announce their Q2FY27 results today. The list includes Aditya Birla Capital, Affle 3i, Ajanta Pharma, Bank of Baroda, Bharat Electronics, Delhivery, Dixon Technologies, GAIL, GMDC, Indraprastha Gas, Indian Oil, LIC Housing Finance, Max Healthcare, NTPC Green, PB Fintech, Reliance Industries, SJVN, Sun Pharma, Varun Beverages and Zee Entertainment.

In the primary market, the initial public offerings (IPOs) of Johnsoncab Electricals, HGS (India), Vectras Enprocon and Maxwell Engineering Solutions will open for subscription on Friday. Meanwhile, the IPOs of M.K.Sons Fine Jewels and Ajwa Projects will enter their final day of subscription.

Pre-Market Update at 7:40 AM: GIFT Nifty was trading at 23,034 as of 7:01 AM IST on October 30, indicating a mildly positive start for domestic equities. It was up 97.25 points, or 0.42 per cent, compared with the previous Nifty 50 close of 22,936.75. The positive opening indication follows a strong domestic market session, although weakness in overseas equity markets could keep investor sentiment cautious.

The Nifty 50 gained 237.90 points, or 1.05 per cent, on October 29 to close at 22,936.75, while the BSE Sensex advanced 905.01 points, or 1.24 per cent, to settle at 74,151.04. Global technology concerns, crude oil prices near USD 112 per barrel and a busy domestic earnings calendar are likely to remain key factors influencing market sentiment.

Wall Street ended lower after Alphabet's revenue miss revived concerns over Big Tech spending on artificial intelligence. The Nasdaq declined 1.38 per cent, underperforming the broader U.S. market, while the S&P 500 and Dow Jones also closed in negative territory. This development could keep Indian IT and technology-services stocks in focus. However, Microsoft provided a contrasting outlook, projecting fiscal second-quarter sales of up to USD 97.1 billion and Azure growth of 49-50 per cent. Azure expanded 48 per cent in the reported quarter, while free cash flow stood at USD 18.6 billion.

U.S. inflation accelerated in September, while consumer spending also increased, keeping the debate over higher-for-longer interest rates active. These developments could influence the U.S. dollar, Treasury yields and foreign portfolio investment flows into emerging markets, including India. Separately, the European Central Bank kept interest rates unchanged while flagging rising inflation risks. Its monetary policy stance will remain relevant for global bond markets, currencies and overall risk appetite.

On the domestic front, Reliance Industries is scheduled to consider its second-quarter and half-year results on October 30. The board will also consider issuing listed secured or unsecured redeemable non-convertible debentures through one or more private-placement tranches. Jio Platforms is also scheduled to approve its Q2 results. Given Reliance Industries' presence across the energy, telecom and retail sectors, its announcements could influence benchmark-index sentiment. Indian Oil Corporation is also scheduled to consider its September-quarter results, with its performance and management commentary likely to remain relevant for the oil-marketing sector.

Global market cues remained mixed. In the U.S., the Dow Jones declined 0.25 per cent to 52,342.56, the S&P 500 fell 0.30 per cent to 7,720.39, and the Nasdaq dropped 1.38 per cent to 26,184.72. Asian markets were broadly weak in early trade, with Japan's Nikkei declining 2.76 per cent, Hong Kong's Hang Seng falling 0.59 per cent and China's Shanghai Composite slipping 0.82 per cent. In contrast, European markets had closed higher in the previous session. Germany's DAX gained 1.31 per cent, France's CAC 40 advanced 1.05 per cent and the FTSE 100 rose 0.26 per cent.

Crude oil prices remained elevated, with Brent crude trading at USD 111.64 per barrel as of 7:02 AM IST on October 30, up 0.04 per cent. WTI crude stood at USD 104.11 per barrel, down 0.03 per cent. Elevated crude prices remain a concern for India as a major oil importer and could influence the performance of oil-marketing companies, aviation firms and other fuel-intensive businesses.

In precious metals, gold traded at USD 4,004.19, declining 0.47 per cent, while silver fell 1.44 per cent to USD 51.39. The movement came amid mixed global risk indicators and a softer U.S. dollar. The Dollar Index declined 0.41 per cent to 101.617, while the Indian rupee traded around Rs 95.21 per U.S. dollar, unchanged from the previous level. The U.S. 10-year Treasury yield eased to 4.909 per cent, declining 0.029 percentage point. Movements in U.S. bond yields remain important for global equity valuations and cross-border capital flows.

Institutional activity also remains an important factor for domestic equities. Foreign institutional investors were net sellers of Rs 943.60 crore, while domestic institutional investors were net buyers of Rs 1,924.41 crore in the latest available data. Domestic institutional buying more than offset foreign outflows during the session. Meanwhile, India VIX declined 7.02 per cent to 15.11, indicating easing volatility expectations. However, the decline in the volatility gauge does not independently indicate the direction of the market.

In the previous trading session, the Nifty 50 closed at 22,936.75, gaining 237.90 points, or 1.05 per cent. During the session, the index touched an Intraday high of 22,961.95 and a low of 22,656.75. The BSE Sensex settled at 74,151.04, rising 905.01 points, or 1.24 per cent. It touched an intraday high of 74,166.16 and a low of 73,181.90.

Among individual stocks, Trent reported a 25.3 per cent year-on-year increase in consolidated net profit to Rs 468.09 crore for Q2 FY27. Revenue increased 21.9 per cent to Rs 5,873 crore, while EBITDA rose 29.6 per cent to Rs 1,054 crore. The EBITDA margin stood at 18.2 per cent. The company's retail-network expansion across Westside, Zudio and other formats will remain in focus.

InterGlobe Aviation reported a consolidated loss of Rs 1,879 crore for Q2 FY27, narrowing from a loss of Rs 2,582 crore in the corresponding quarter last year. Revenue from operations increased 26 per cent to Rs 23,364 crore. However, the company's loss widened compared with Rs 237 crore reported in Q1 FY27.

Suzlon Energy reported a 25 per cent year-on-year increase in consolidated revenue to Rs 4,876 crore in Q2 FY27. However, net profit declined 69 per cent to Rs 394 crore from Rs 1,279 crore in the corresponding quarter last year, reflecting a one-time deferred-Tax effect. The divergence between revenue growth and reported profitability is likely to keep the renewable-energy equipment manufacturer in focus.

Motilal Oswal Financial Services reported consolidated net profit of Rs 1,081 crore compared with Rs 363 crore in the year-ago quarter. Revenue increased 64 per cent to Rs 3,042 crore, while operating profit rose 29 per cent to Rs 718 crore. Growth in its asset-management and wealth-management businesses contributed to the quarterly performance.

Vedanta Power reported a profit of Rs 83 crore for Q2 FY27 against a loss of Rs 1,688 crore in the corresponding quarter last year. Revenue increased 38 per cent to Rs 2,908 crore, while EBITDA rose 122 per cent, supported by record power sales and improved operational performance.

Brigade Enterprises reported a 29 per cent year-on-year increase in net profit to Rs 219 crore despite lower revenue. Residential bookings, leasing and hospitality performance, along with new project launches, will remain key factors to monitor.

Disclaimer: The article is for informational purposes only and not investment advice.

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