As per provisional closing, the S&P BSE Sensex, was up 218.14 points or 0.27% to 81,224.75. The Nifty 50 index added 104.20 points or 0.42% to 24,854.05.

In the broader market, the S&P BSE Mid-Cap index rose 0.21% and the S&P BSE Small-Cap index declined 0.16%.

The market breadth was negative. On the BSE, 1,942 shares rose and 1,993 shares fell. A total of 108 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.61% to 13.04.

Economy:

Indian Railways has cut down Advance Reservation Period from current 120 days to 60 days w.e.f. 01.11.2024; excluding the date of the journey. The Ministry of Railways has announced this change in the Advance Reservation Period (ARP) for train bookings by Indian travelers in order to promote genuine passengers. The decision will help the Railway Board to improve the visibility of genuine demand for rail travel in India. It was being noticed that about 21 percent of reservations done for 61 to 120 day periods were getting cancelled. Further, 5% of passengers were neither canceling their tickets nor were they undertaking the journey. This No Show trend was also one of the factors behind the decision, which will help Indian Railways in better planning of special trains during peak seasons.

Buzzing Index:

The Nifty Private Bank index rose 1.90% to 25,984.10. The index fell 1.60% in past three consecutive trading sessions.

Axis Bank (up 5.82%), ICICI Bank (up 2.86%), RBL Bank (up 1.5%), Federal Bank (up 0.99%) and Bandhan Bank (up 0.85%), City Union Bank (up 0.81%), HDFC Bank (up 0.54%), Kotak Mahindra Bank (up 0.27%) edged higher.

On the other hand, IDFC First Bank (down 0.08%), IndusInd Bank (down 0.07%) edged lower.

Axis Bank rallied 5.82% after the private lender reported 17.97% rise in standalone net profit to Rs 6,917.57 crore on 17.31% increase in total income to Rs 37,141.71 crore in Q2 FY25 over Q2 FY24.

Stocks in Spotlight:

Reliance Industries rose 0.15% The company said that its wholly owned subsidiary, Reliance Brands Holding UK and Mothercare plc will form a joint venture that will own the Mothercare brand and its intellectual property assets related to the regions of India, Nepal, Sri Lanka, Bhutan, and Bangladesh.

Wipro rallied 3.59% after the IT major's consolidated net profit grew 6.85% to Rs 3,208.8 crore in Q2 FY25 as against Rs 3,003.2 crore recorded in Q1 FY25.Revenue from operations increased 1.54% to Rs 22,301.6 crore in the September 2024 quarter as against Rs 21,963.8 crore reported in the preceding quarter same year.

Meanwhile, the board of directors recommended bonus equity shares in the proportion of 1 bonus equity share for every 1 equity share held (1:1) and a bonus issue [stock dividend on American Depositary Share (ADS)] of 1 ADS for every 1 ADS held, as on the record date, subject to approval of the members of the company.

Infosys dropped 4.22%. The IT major reported 2.2% rise in consolidated net profit to Rs 6,506 crore on a 4.25% increase in revenues to Rs 40,986 crore in Q2 FY25 over Q1 FY25.

LTIMindtree tumbled 6.06%. The company’s consolidated net profit jumped 10.3% to Rs 1,251.6 crore in Q2 FY25 as compared with Rs 1,135.1 crore in Q1 FY25. Revenue from operations increased 2.8% QoQ to Rs 1,126.6 crore during the quarter.

CEAT advanced 1.98% after the tyres manufacturing company’s consolidated net profit fell 41.4% to Rs 121.88 crore in Q2 FY25 as compared to Rs 208 crore posted in Q2 FY24. Revenue from operations increased 8.22% year on year (YoY) to Rs 3,304.53 crore in the quarter ended 30 September 2024.

Tata Chemicals rose 0.94%. The chemical maker’s consolidated net profit from continuing operations declined 46.06% to Rs 267 crore in Q2 FY25 as compared to Rs 495 crore posted in Q2 FY24. The company’s revenue from operations rose marginally to Rs 3,999 crore in Q2 FY25 as against to Rs 3,998 crore recorded in Q2 FY24.

5paisa Capital tumbled 7.31%. The stockbroking company’s consolidated net profit jumped 15.02% to Rs 21.90 crore in Q2 FY25 from Rs 19.04 crore reported in Q2 FY24. The company’s total income rose 4.02% year on year (YoY) to Rs 100.85 crore in the quarter ended 30 September 2024.

Tanla Platforms declined 3.54% after the company's consolidated net profit declined 8.65% to Rs 130.21 crore on 0.78% fell in net sales to Rs 1,000.72 crore in Q2 FY25 over Q2 FY24.

Zydus Lifesciences rose 0.15%. The pharma major announced that it has received final approval from the United States Food and Drug Administration (USFDA) to manufacture Fludrocortisone Acetate tablets USP, 0.1 mg.

Global Markets:

Most European shares traded higher on Friday as investors digested the European Central Bank's consecutive interest rate cuts and awaited new economic data and earnings reports. In the U.K., retail sales increased by 0.3% in September, according to data from the Office for National Statistics, marking the highest level since July 2022.

Asian stocks ended higher on Friday, as traders assessed key economic data from China and Japan’s inflation numbers.

Chinese GDP grew 4.6% year-on-year in the three months to September 30, but slowing from the 4.7% seen in the prior quarter. GDP grew 0.9% quarter-on-quarter, slightly missing expectations of 1%. This brought year-to-date GDP growth to 4.8%, still below Beijing’s 5% annual target.

Separate data on Friday showed China’s industrial production and retail sales both grew more than expected in September, while the country’s unemployment rate fell to 5.1% against expectations it would remain at 5.3%. Meanwhile, China’s house prices fell 5.8% year-over-year in September, a larger drop than 5.3% in August.

Japan's Core CPI, which excludes volatile fresh food items, grew 2.4% year-on-year in September, government data showed on Friday. The reading eased from the 2.8%- a 10-month high- seen in the prior month. A core reading that excludes both fresh food and energy prices, and is watched closely by the Bank of Japan as a gauge of underlying inflation, rose to 2.1% in September from 2% in the prior month. Headline CPI inflation fell to 2.5% from 3% in the prior month.

In the US market, the Dow Jones Industrial Average rallied to a new record close after strong economic data eased lingering fears of a potential recession. The blue-chip index rose 0.37% to 43,239.05, helped by a 9% gain for Travelers on the back of strong quarterly results. The Nasdaq Composite inched higher on Thursday after getting a boost from semiconductor names, and ultimately added 0.04%. The S&P 500 closed down 0.02%.

The technology sector, particularly chip stocks, led the market's rally, with companies like Nvidia and Taiwan Semiconductor Manufacturing Company (TSMC) posting significant gains. Positive US retail sales figures and lower-than-expected jobless claims further supported market sentiment.

September’s US retail sales figures showed that consumer spending was still robust, with monthly spending rising 0.4%. Sales excluding autos shot up 0.5%, much hotter than the 0.1% forecast. Jobless claims in the US for the week that ended Oct. 12 were also lower than expected.