Further, The rally was driven by buying in heavyweight stocks and optimism surrounding September-quarter earnings, despite persistent concerns in global markets over AI-related debt and intensifying competition in the semiconductor industry.

Private bank, IT and auto shares advanced while PSU Bank, media and FMCG shares declined.

As per provisional closing data, the S&P BSE Sensex surged 1,533.72 points or 2.11% to 74,315.61. The Nifty 50 index jumped 374.65 points or 1.66% to 22,997.35.

In the broader market, the BSE 150 Midcap Index shed 0.48% and the BSE 250 Smallcap Index declined 1.4%.

The market breadth was weak. On the BSE, 1,716 shares rose and 2,670 shares fell. A total of 214 shares were unchanged.

In the commodities market, Brent crude for December 2026 settlement dropped $2.44 or 2.30% to $103.62 a barrel. The United States 10-year bond yield tumbled 2.10% to 5.080.

Initial Public Offer (IPO)

HD Fire Protect received bids for 2,31,12,77,760 shares as against 1,84,20,492 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 125.47 times.

The issue opened for bidding on 13 October 2026 and will close on 15 October 2026. The price band of the IPO is fixed between Rs 258 and 271 per share. An investor can bid for a minimum of 55 equity shares and multiples thereof.

Fusion CX received bids for 1,39,47,939 shares as against 1,40,40,000 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 0.99 times.

The issue opened for bidding on 14 October 2026 and will close on 16 October 2026. The price band of the IPO is fixed between Rs 275 and 289 per share. An investor can bid for a minimum of 51 equity shares and multiples thereof.

Tonbo Imaging India received bids for 3,09,16,242 shares as against 85,26,033 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 3.63 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 665 and 700 per share. An investor can bid for a minimum of 21 equity shares and multiples thereof.

Zetwerk Manufacturing Business received bids for 2,29,76,415 shares as against 18,50,66,845 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 0.12 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 143 and 151 per share. An investor can bid for a minimum of 99 equity shares and multiples thereof.

Sahajanand Medical Technologies received bids for 28,37,871 shares as against 97,50,482 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 0.29 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 327 and 344 per share. An investor can bid for a minimum of 43 equity shares and multiples thereof.

Bonfiglioli Transmissions received bids for 1,24,72,800 shares as against 3,02,82,330 shares on offer, according to stock exchange data at 15:30 IST on 15 October 2026. The issue was subscribed 0.41 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 558 and 586 per share. An investor can bid for a minimum of 25 equity shares and multiples thereof.

Buzzing Index:

The Nifty Private Bank index jumped 1.89% to 27,679.30. The index declined 0.58% in the past trading session.

ICICI Bank (up 3.18%), HDFC Bank (up 1.9%), IndusInd Bank (up 1.88%), Kotak Mahindra Bank (up 1.81%), Axis Bank (up 1.67%), Bandhan Bank (up 0.81%), Federal Bank (up 0.39%), IDFC First Bank (up 0.14%) advanced.

Stocks in Spotlight:

Reliance Industries rose 2.90% after its subsidiary, Jio Platforms, filed the Red Herring Prospectus (RHP) for its proposed initial public offering (IPO) and announced the price band.

Jio Platforms has fixed the IPO price band at Rs 1,065-1,119 per equity share. Eligible employees bidding under the employee reservation portion will receive a discount of Rs 54 per share. The minimum bid lot is 12 equity shares, with bids accepted in multiples of 12 shares. The proposed IPO comprises a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each.

Reliance Industries will retain a controlling 66.43% stake in Jio Platforms. As of 31 March 2026, Reliance Industries held 593.78 crore shares in the company.

Nestle India fell 7.52%. The company reported a 35.9% YoY increase in consolidated net profit to Rs 1,009.61 crore in Q2 FY27, compared with Rs 743.17 crore in Q2 FY26. Revenue from operations rose 20.2% YoY to Rs 6,788.34 crore from Rs 5,643.61 crore. Sequentially, net profit increased 5.3% from Rs 958.68 crore in Q1 FY27, while revenue from operations rose 6.7% from Rs 6,378.18 crore.

Tata Technologies shed 0.68% after a sequential decline in net income in Q2 September 2026. On a consolidated basis, the company reported a 3.6% YoY increase in net income to Rs 171.4 crore and a 28.4% rise in revenue from operations to Rs 1,698.8 crore in Q2 FY27. Sequentially, net income declined 5.2%, while revenue increased 2.1% during the quarter.

Hathway Cable Datacom dropped 6.73% after the company reported a 44.3% year-on-year (YoY) decline in consolidated net profit to Rs 10.21 crore in Q2 FY27, compared with Rs 18.26 crore in Q2 FY26. Revenue from operations increased 5.75% YoY to Rs 567.51 crore in the quarter ended 30 September 2026.

Global Markets:

Dow Jones futures climbed 166 points, signalling a positive opening for US equities.

European equities advanced on Thursday as stronger-than-expected UK economic growth data offset concerns over a global technology sell-off and hotter-than-expected US inflation. The UK economy grew 0.1% in August, against forecasts for a 0.1% contraction, according to the Office for National Statistics (ONS).

Meanwhile, Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Tehran did not seek an endless war or prolonged negotiations with the United States but would continue fighting until Washington accepted its demands.

Asian equities ended lower as the technology sell-off intensified. South Korea's Kospi plunged 7.57% to close at 5,554.22, while Japan's Nikkei 225 also recorded steep losses. Semiconductor stocks faced heavy selling pressure, with Samsung Electronics and SK Hynix among the major decliners.

The sell-off reflected concerns over the sustainability of AI-related investment and intensifying competition in the semiconductor industry. Reports of advances by Chinese memory-chip maker ChangXin Memory Technologies (CXMT) added to concerns over competition and potential pricing pressure in the global memory-chip market.

US equities ended lower on Wednesday, with technology shares accounting for much of the decline. The Nasdaq Composite dropped 1.88% to 26,692.87, while the S&P 500 fell 1.11% to 7,718.94. The Dow Jones Industrial Average slipped 0.09% to 51,621.48.

According to the US Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 0.6% in September from August, following a 0.4% increase in August. Annual inflation accelerated to 3.7% from 3.4%. Gasoline prices rose 9.1% during the month, accounting for more than half of the monthly increase in the overall index.

Core CPI, which excludes food and energy, increased 0.3% month on month and 2.6% year on year, compared with 2.4% in August. The stronger inflation reading heightened concerns over persistent price pressures and the possibility of interest rates remaining elevated for longer.