Stock Market Live: Nifty, Sensex Rise As ICICI Bank, SBI Share Prices Gain

DLF Ltd.'s share price rose over 7% on Monday after its second quarter consolidated net profit more than doubled.

Danish Power Ltd., a transformer manufacturer, is set to list on the NSE SME platform on Oct. 29. Ahead of the much-awaited listing, the grey market premium on the initial public offer stood at Rs 246 as of 9 a.m. on Oct. 28, indicating a strong premium. To read the full story click here.

Share price of Shriram Finance Ltd. surged over 7% on Monday—their best single day gain since July 26—after it posted strong quarterly results that were in line with the street's expectations.

The BSE Sensex rose as much as 1.20% to 80,351.49 Mahindra & Mahindra Ltd., and ICICI Bank Ltd. share prices contributed the most to the index's gains

Bandhan Bank Ltd.'s share price jumped over 8% in early trade on Monday after its standalone net profit surged 30% in the second quarter, meeting analysts' estimates.

Phoenix Mills Ltd. share price fell to the lowest level in seven months on Monday as Citi Research cut its target price following a decline in net profit during July–September.

Waaree Energies Ltd. listed at Rs 2,500 on NSE compared to issue price of Rs 1,503. The company listed at a premium of 66.3% on NSE

It listed at Rs 2,550 on BSE compared to Issue Price of Rs 1,503. Waaree Energies listed at a premium of 69.7% on BSE.

Coal India Ltd. saw its stock price tumble over 4% following rather weak financial results for the second quarter of fiscal 2025, which fell short of analysts’ expectations.

InterGlobe Aviation Ltd. share price declined 12.96% to Rs 3.811.75 apiece, the lowest level since June 4. It was trading 12.30% down at Rs 3,829.10 apiece as of 09:41 a.m., as compared to 0.01% decline in NSE Nifty 50 index.

The slump in the share price came after brokerages cut its target price assessing second quarter loss. To know IndiGo's second quarter result click here.

The NSE Nifty 50 and BSE Sensex snapped a five–day losing streak at open tracking a rise in ICICI Bank Ltd., and Shriram Finance Ltd. share prices. As of 09:18 a.m., the Nifty 50 was trading 52.70 points or 0.22% higher at 24,233.50, and the Sensex was trading 288.82 points or 0.36% higher at 79,691.11.

"As we approach a festive week, it will be crucial to see if the market sentiment rebounds or continues under pressure, said Sameet Chavan, head, research, Technical and Derivative, Angel One.

"While the daily chart may not fully capture the depth of this move, the weekly and monthly charts have shown significant distortion, suggesting potential further price corrections, followed by a possible period of time-wise correction. Key support levels now include the August lows near 23z,900, with additional retracement and 200 Simple–Moving–Average supports at 23,750 and 23,400, respectively."

ICICI Bank Ltd., Shriram Finance Ltd., Infosys Ltd., State Bank of India, and Mahindra & Mahindra Ltd. share prices added to the index.

Larsen & Toubro Ltd., Coal India Ltd., Bharti Airtel Ltd., Oil and Natural Gas Corp, and JSW Steel Ltd. restricted gains to the index.

On NSE, nine sectors opened higher, and three declined out of 12. The NSE Nifty PSU Bank rose the most, while the Nifty Energy index declined the most.

Broader markets rose in line with the benchmarks. The BSE Midcap and BSE Smallcap indices were trading 0.30% and 0.37% higher, respectively.

On BSE, seven sectors advanced, four remained flat, and nine sectors declined out of 20. The BSE Bankex rose the most, while the BSE Services declined the most.

Market breadth was skewed in favour of buyers. Around 1,896 stocks advanced, 1,103 stocks declined, and 145 stocks remained unchanged on BSE.

At pre–open, the NSE Nifty 50 was trading 0.29% higher at 24,251.10, and the BSE Sensex was trading 0.33% higher at 79,653.67.

The yield on the 10-year bond opened flat at 6.86%. It closed at 6.85% on Friday, according to data on Bloomberg.

Rupee opened flat at 84.07 against the US dollar. It closed at 84.08 on Friday, according to data on Bloomberg.

• Initiate Buy rating with a target price Rs 20,070, which implied a 70% upside

• At cusp to unveil world’s largest single-site Ti recycling plant

• Firm demand potential in India and global shortage of Ti to lead to speedy rampup

• Believes tie-ups with foreign OEMs for Ti-cast products to be game changer

• PAT could grow at CAGR of 72% (FY24–32E) with capacity ramp-up

• Expect to gain from significant tailwinds in commercial aerospace

• Key risks: Dependence on exports, Delay in commissioning of new capacity

• Revenue rose 55.4% at Rs 322 crore vs Rs 207 crore

• Ebitda rose 54.4% at Rs 200 crore vs Rs 129 crore

• Margin down 40 basis points at 62% vs 62.4%

• Net profit rose 48.6% at Rs 162 crore vs Rs 109 crore

• Maintain outperform with a target price Rs 240, which implied a 42% upside

• Asset quality fared better than feared

• Operating profit slight miss

• Credit costs lower than expected leading to 24% PAT beat

• Secured business to drive growth

Bandhank Bank Ltd.'s standalone net profit rose 30% in second quarter, it said Friday. The earning numbers meet analysts' expectations. The share price may react in Monday's trading session.

To know more about Bandhan Bank's second quarter numbers, click here.

The Japanese yen fell to over near three–month low against the US dollar after the country's ruling coalition failed gain majority in the parliament over the weekend.

The Japanese yen rose 1.03% to 153.88 a dollar so far in the day. It was trading 0.87% down at 153.63 a dollar as of 08:12 a.m.

The dollar index, which measures the greenback's strength against major six currencies, continued to hover around two and a half month high. This pressured the Asian currencies.

The dollar index was trading 0.22% higher at 104.47 as of 8:04 a.m. IST.

Most currencies fell against the greenback. The Indonesian rupiah and Malaysian ringgit were trading 0.47% and 0.41% down, respectively.

Bucking the trend, the South Korean won was trading 0.40% higher against the US unit.

Oil future prices slumped over 5% in early trade on Monday as tension over supply from Middle–East eased temporary after Israel's retaliatory attack bypassed Tehran's oil facilities, Reuters reported.

The December future contract of brent crude was trading 4.29% down at $72.79 a barrel as of 08:02 a.m. IST

• Reiterate BUY with a TP of Rs 4,000 (+29%)

• Execution better than vehicle finance peers; earnings in line

• AUM up 20% YoY; gold and personal loans likely to pick up in 2HFY25

• Asset quality continues to improve with higher PCR on standard loans

• Value at 2.2x FY26E PBV

• Maintain buy with reduced price target of Rs 5,100 (17% upside potential)

• Loss driven by higher cost of groundings, related capacity mitigating measures

• Story remains intact with capacity ramp-up amid constraints for most peers

• Aircrafts on ground peaked, should drive cost normalization ahead

• Cut FY25/26/27 EPS estimates by 12%/2%/2% on Q2 miss

Gold prices eased in Asian trade hours reversing its gain from Friday. It rose on Friday as middle–east tension increased and uncertainty heightened regarding US elections.

The Gold December Futures were trading 0.51% down at $2,740.00 an ounce as of 7:16 a.m. IST

Asia–Pacific stock gauges rose on Monday as traders assessed the outcome of the Japan election over the weekend. Fall in the Japanese yen, and crude oil prices lent support to the share indices.

Over the weekend, Japan's ruling coalition failed to acquire majority, raising political instability. The Nikkei 225 was trading 568.97 points or 1.50% up at 38,482.89 as of 7:11 a.m.

The KOSPI and S&P ASX 200 were trading 0.70% and 0.13% higher, respectively.

Share indices on Wall Street ended on a mixed note. The Dow Jones Industrial Average S&P 500 ended 0.61% and 0.03% down, respectively. The Nasdaq Composite ended 0.56% higher at 18,518.61.

The GIFT Nifty was trading near 24,100 on Monday morning. Bankdhan Bank Ltd., Coal India Ltd., and Torrent Pharma Ltd. share prices may see movement in today's trading session due to latest earning numbers.

The GIFT Nifty was 0.27% or 64.50 points down at 24,145.50 as of 06:30 a.m.

The NSE Nifty 50 and BSE Sensex recorded a five-day losing streak on Friday and posted the worst stretch of weekly decline in over 14 months. The NSE Nifty 50 ended 218.60 points or 0.90% down at 24,180.80 and the BSE Sensex fell 662.87 points or 0.83% to close at 79,402.29.

Motilal Oswal Financial Services expects this weakness to continue in the near term amid cautiousness among investors ahead of the US presidential election on Nov. 5, said Siddhartha Khemka, head, research, Wealth Management.

"Overall market has corrected by approximately 8% from the all-time highs of 26277 levels led by weak global cues, muted Q2 result season, and heavy selling by FIIs," Khemka added.