Optimism grew over a possible India-U.S. trade agreement, alongside hopes that the U.S. government shutdown would soon be resolved. Further cheer came from expectations of rate cuts by the U.S. Federal Reserve, as recent labour market data signaled cooling inflationary pressures.
Adding to the momentum, exit polls in Bihar projecting a clear victory for the NDA alliance bolstered domestic investor confidence, fueling a risk-on mood in the broader market.
As per provisional closing data, the barometer index, the S&P BSE Sensex, zoomed 595.19 points or 0.71% to 84,466.51. The Nifty 50 index rose 180.85 points or 0.70% to 25,875.80. In three consecutive trading sessions, the Sensex rose 1.50% while the Nifty added 1.50%.
In the broader market, the S&P BSE Mid-Cap index rose 0.44% and the S&P BSE Small-Cap index added 0.76%.
The market breadth was strong. On the BSE, 2,505 shares rose and 1,706 shares fell. A total of 170 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 3.04% to 12.11.
Economy:
India's retail inflation eased sharply to a record low of 0.25% in October, down from 1.44% in September, as food prices continued to decline, according to data released by the Ministry of Statistics on Wednesday. This marks the lowest year-on-year inflation recorded in the current Consumer Price Index (CPI) series.
The government attributed the fall in both headline and food inflation to the combined impact of lower GST rates, a favorable base effect, and a drop in prices of key items such as oils and fats, vegetables, fruits, eggs, footwear, cereals, and related products.
Data showed that food prices fell 5.02%, while the food and beverages index declined 3.72% during the month, providing major relief to consumers.
Exit polls put NDA ahead in Bihar:
With polling for the second and final phase of the Bihar Assembly elections concluding on November 11, exit polls have unanimously projected a clear edge for the ruling National Democratic Alliance (NDA) over the Opposition's Mahagathbandhan, while indicating that Prashant Kishor's Jan Suraaj party is unlikely to make a significant impact. The elections, held in two phases on November 6 and 11 across all 243 constituencies, recorded a historic voter turnout of 66.91%, the highest in Bihar's electoral history since Independence. The counting of votes is scheduled for November 14, when the verdict for over 2,600 candidates will be declared.
New Listing:
Shares of Billionbrains Garage Ventures (Groww) settled at Rs 130.94 on the BSE, representing a premium of 30.93% as compared with the issue price of Rs 100.
The stock was listed at Rs 114, exhibiting a premium of 14% to the issue price.
The stock has hit a high of 134.34 and a low of 112.02. On the BSE, over 624.04 lakh shares of the company were traded in the counter.
IPO Update:
Tenneco Clean Air India received bids for 2,02,22,535 shares as against 6,66,66,666 shares on offer, according to stock exchange data at 15:15 IST on Wednesday (12 November 2025). The issue was subscribed 0.30 times. The issue opened for bidding on 12 November 2025 and it will close on 14 November 2025. The price band of the IPO is fixed between Rs 378 and 397 per share.
Physicswallah received bids for 2,22,31,127 shares as against 18,62,04,143 shares on offer, according to stock exchange data at 15:15 IST on Wednesday (12 November 2025). The issue was subscribed 0.12 times. The issue opened for bidding on 11 November 2025 and it will close on 13 November 2025. The price band of the IPO is fixed between Rs 103 and 109 per share.
Emmvee Photovoltaic Power received bids for 1,25,50,065 shares as against 7,74,27,183 shares on offer, according to stock exchange data at 15:15 IST on Wednesday (12 November 2025). The issue was subscribed 0.16 times. The issue opened for bidding on 11 November 2025 and it will close on 13 November 2025. The price band of the IPO is fixed between Rs 206 and 217 per share.
Buzzing Index:
The Nifty IT index added 2.04% to 36,855.40. The index rallied 4.25% in three consecutive trading sessions.
Tech Mahindra (up 3.42%), LTIMindtree (up 3.2%), Tata Consultancy Services (up 2.78%), Oracle Financial Services Software (up 1.84%), Mphasis (up 1.74%), Persistent Systems (up 1.72%), Coforge (up 1.7%), HCL Technologies (up 1.53%), Wipro (up 1.46%) and Infosys (up 1.4%) added.
Stocks in Spotlight:
BSE jumped 4.77% after the exchange posted a 61% increase in net profit to Rs 557 crore on a 44% rise in revenue from operations to Rs 1,068 crore in Q2 FY26 as compared with Q2 FY25.
Zaggle Prepaid Ocean Services rose 3.77% after the company's standalone net profit surged 79.1% to Rs 33.24 crore on a 42.4% rise in revenue from operations to Rs 430.98 crore in Q2 FY26 over Q2 FY25.
Godrej Industries slipped 0.57%. The company reported a 15.69% decline in consolidated net profit to Rs 242.47 crore in Q2 FY26, compared to Rs 287.62 crore recorded in Q2 FY26. However, revenue from operations rose 4.72% YoY to Rs 5,032.14 crore for the quarter ended 30 September 2025.
Reliance Infrastructure rallied 1.85% after the company's consolidated net profit surged to Rs 1,911.19 crore in Q2 FY26, compared to Rs 59.84 crore recorded in Q1 FY26. Revenue from operations rose 5.53% sequentially to Rs 6,234.91 crore for the quarter ended 30 September 2025.
Shares of Tata Motors' commercial vehicle business, now officially listed as Tata Motors, made a strong debut on Wednesday, following its demerger from the passenger vehicle division. The stock opened at Rs 335 per share on the NSE, significantly higher than its discovered price of Rs 260.75, while on the BSE, it debuted at Rs 330.25, marking a 26.1% premium over the implied price of Rs 261.90. Tata Motors shares settled at Rs 330 on the NSE and Rs 327.65 on the BSE, sustaining gains of over 25% from the discovered price.
BLS International Services rallied 8.72% after the company's consolidated net profit jumped 26.8% to Rs 175.23 crore on 48.8% increase in revenue from operations to Rs 736.63 crore in Q2 FY26 over Q2 FY25.
Global Markets:
Most European stocks advanced on Wednesday, extending the positive momentum seen earlier this week amid optimism that the U.S. government shutdown may end soon.
German inflation eased slightly to 2.3% in October, according to data released by the federal statistics office, confirming preliminary estimates.
Consumer prices, harmonised to compare with other European Union nations, had stood at 2.4% year-on-year in September. The European Central Bank (ECB) has kept interest rates unchanged since June, noting that monetary policy remains in a 'good place.' Signs of easing inflationary pressures in the Eurozone's largest economy suggest that the ECB may maintain its current policy stance for the foreseeable future.
Most Asian indices ended higher amid hopes that the record-setting U.S. government shutdown could be nearing an end.
Members of the House of Representatives prepared to vote on a measure that could restore funding to government agencies and end a shutdown that started on October 1 and is now the longest in U.S. history.
In the absence of data from federal government agencies, traders focused on weekly jobs data from ADP, opening a new tab on Tuesday, which showed private employers shed an average of 11,250 jobs a week in the four weeks ending on October 25.
Investors will be keeping a close eye on SoftBank shares as well as tech stocks in Asia after the Japanese giant said Tuesday it sold its entire stake in U.S. chipmaker Nvidia for $5.83 billion, as it looks to capitalize on its 'all in' bet on ChatGPT maker OpenAI.
Overnight in the U.S., the three major averages closed mixed. The Dow Jones Industrial Average rallied to a fresh closing record Tuesday, while the Nasdaq Composite struggled as investors moved money away from technology stocks into other parts of the market that traded at lower valuations.
The 30-stock Dow rose 559.33 points, or 1.18%, to close at 47,927.96. The S&P 500 also rose 0.21% to finish at 6,846.61. However, the tech-heavy Nasdaq lost 0.25% to settle at 23,468.30.
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