Overview:

• Bank Nifty jumped 299 points to an all-time high of 58,574.20, led by gains in ICICI Bank shares and IndusInd Bank.

• Retail inflation slipped to 0.25 %-the lowest since 2013-raising expectations of a rate cut by the RBI.

• While Pfizer, Biocon and Tata Steel have come up with strong results, IT stocks and ONGC lagged behind.

The major indices in stock market today traded in the green zone at press time. Sensex surged 283.48 points, or 0.34%, to 84,749.99, while Nifty added 85.45 points, or 0.33%, to 25,961.25. Strong performance in banking stocks dominated share market news, with Bank Nifty touching a fresh record high. Let’s explore how individual companies behaved in the stock market today based on Moneycontrol Live Updates.

Bank Nifty at New High

In a strong comeback, the banking index emerged as the top performer of the day, rising 299.55 points, or 0.51%, to 58,574.20. Heavyweight banking stocks, such as IndusInd Bank and ICICI Bank, jumped 2-3% each. ICICI Bank shares traded at Rs. 1,386.60, with a gain of 2.04%, and were the most active stock in terms of value with a trading value of Rs. 1,148.82 crore. A strong performance by banking stocks lifted investor sentiment across the market.

Top Gainers and Sectoral Performance

Asian Paints stock topped Nifty 50 gainers chart with a 4.07% surge to Rs. 2,882.40, following strong quarterly earnings. At the same time, Jio Financial stock advanced by 2.02% to Rs. 315.75, and IndiGo (Interglobe Aviation) rose by 1.90% to end at Rs. 5,905.50.

Tata Steel shares jumped 1.81% to Rs. 181.85 after the company posted a 272% increase in consolidated net profit to Rs. 3,102 crore for the quarter ended September. While IT sector was under pressure, the Nifty IT index slipped 0.17% to 36,793.25. While BSE Smallcap index still resisted and was up 0.20% to 53,363.77.

Biocon rose 3.26% to Rs 419.60 after the brokerage HSBC retained its 'buy' rating with a target price of Rs 455. The brokerage said the company repaid structured debt from Goldman Sachs and Kotak using the money generated from its recent share sale, and it will pay off Edelweiss dues by January 2026. This interest cost relief should aid the company in focusing on scaling the biosimilars business.

Pfizer surged 5.08% to Rs. 5,275 after the company said its quarterly profit jumped 19.4% to Rs. 189 crore. Sudarshan Chemical Industries rose 3.86% to Rs. 1,070.10, its biggest single-day gain in 15 weeks.

On the negative side, Eterna led the losers, dropping 1.47%, followed by ONGC, which fell 1.26% to Rs. 250.65. SpiceJet continued to struggle as well, with the airline reporting widened losses of Rs. 621.3 crore for the quarter.

Also Read: Stock Market Today: Sensex Gains 663 Points, Nifty Up 197; Tech Mahindra, TCS, Adani Lead Market

Rupee and Commodity Markets

Indian rupee opened flat at 88.65 per dollar, with a minimal change from the last close of 88.64, amid mixed global cues and steady domestic sentiment.

International gold prices surged nearly 2% on the back of lower bond yields and expectations of further interest rate cuts. Thus, supporting precious metal stocks in the domestic market.

Inflation Data Brings Relief

Headlines today also included the country's retail inflation data for October, showing a sharp drop to 0.25% from 1.44% in September. This is the lowest level in the current series, which started in 2013, and could pave the way for the Reserve Bank of India to cut rates at its policy meeting this month.

IPO and Corporate Action

The PhysicsWallah IPO subscribed 16% on the third day, while the grey market premium slipped below 1%. On the other hand, shares of Pine Labs IPO will list on November 14 as the issue was subscribed 2.46 times.

Indian Railway Catering and Tourism Corporation posted an 11.1% increase in profit at Rs 342 crore, while its stock fell 0.87% to Rs 709.30.

Foreign Investment Activity

The foreign investors have remained net sellers, pulling out a sum of Rs. 1,750.03 crore, while domestic investors supported the market with the purchase of shares worth Rs. 5,127.12 crore. Buying by domestic investors cushioned the impact of foreign outflows.

The advance-decline ratio on the NSE was 1,632 stocks advancing against 1,109 declining, indicating healthy breadth in Indian markets.

Also Read: Reliance Infrastructure Share Price Jumps 3.63% to Rs. 180.10, Will the Rally Sustain?

Market Outlook

With inflation at historic lows and corporate earnings not uniformly positive, the rate-setting meeting of the RBI this week will be closely watched for possible supporting policy action. The strong banking performance indicated confidence in the financial sector, while the IT sector's weakness pointed to caution over global technology spending. Closer home, the ongoing state election results would be followed for their implications for policy continuity.

FAQs

1. Why did the Indian stock market trade higher today?

The Indian stock market rose mainly due to strong gains in banking and financial stocks. The record high of Bank Nifty, together with healthy buying by domestic investors, offset the FII outflows and lifted overall market sentiment.

2. What was behind the record performance of the Bank Nifty?

Heavyweight banks like ICICI Bank and IndusInd Bank rose 2–3% each to drive the index to 58,574.20. Strong credit growth, robust earnings, and expectations over more rate cuts lifted investor confidence in the sector.

3. How did inflation affect market sentiment?
Indian retail inflation contracted sharply to 0.25%, a level not seen in over ten years. This surprise drop raised investor hopes that the Reserve Bank of India could consider rate cuts, further supporting equity valuations.

4. Which sectors performed best and worst today?
The rally was driven by banking and consumer stocks, while IT and energy sectors saw mild pressure. Asian Paints, Biocon, and Pfizer were top gainers, while ONGC and Eterna were among the day’s biggest losers.

5. What should investors watch next week?
Watch out for cues of RBI policy, trends in world markets, and state election results. Any hint of rate cuts or strong corporate guidance may lead to sustained momentum in financials and consumer-focused sectors.