Stock Market Today LIVE: Sensex Off-Day's Low, Nifty 50 Around 22,700 As Banks Rebound; Kotak, ICICI Bank Rise, Titan Slips

PVR Inox share price jumped nearly 10% to hit a 52-week high of Rs 1,373.30 apiece on the BSE.

The zone of 22,530 – 22,550 will act as a crucial support for the Nifty 50 index while the resistance lies in the zone of 22840 – 22860. On the downside, if the index slips below the level of 22,530, then the next support is placed in the zone of 22,360 – 22,380, said Sudeep Shah, Vice President - Technical and Derivatives Research at SBI Securities.

In an event of a surge above 22,860, the index can experience an extension of the rally towards 23,010, he added.

On the options front, meaningful call writing witnessed across 22,700 and 22,800 strikes. On the put side, 22,600 has a substantial open interest, followed by 22,500 strike.

For Sensex, support is at 72,500, while resistance is at 73,400, he added.
 

Bharti Airtel share price gained over 2% after the company raised its postpaid tariffs by Rs 50 with a revamped set of plans. The new plans come into effect on October 8, 2026, and existing postpaid subscribers will be moved to the nearest higher plan within a month, company sources told PTI. 

The RBI policy does not fundamentally alter our constructive medium-term view on Indian equities, but it does introduce a more nuanced near-term overlay that must be assessed alongside prevailing global headwinds, said Pranay Aggarwal, Director & CEO, Stoxkart.

The 25 bps hike and shift to calibrated tightening will keep domestic bond yields elevated and raise the cost of capital, acting as a modest headwind for rate-sensitive sectors and valuation multiples. At the same time, the upward revision in GDP growth to 7.1% and resilient credit flows continue to support earnings momentum in banks, infrastructure and select export-oriented segments. 

Critically, however, equity performance over the next three to six months will also be heavily influenced by external factors—persistently high oil prices, elevated global bond yields and ongoing geopolitical tensions in the Middle East—which are already amplifying risk-off sentiment and currency volatility, Aggarwal added.

Consequently, we expect a more selective, higher-volatility environment rather than a sharp directional move: domestic-demand and quality compounders should still outperform, while pure duration and high-beta names face greater pressure until both domestic inflation and the global risk complex show clearer signs of stabilisation, he said.

Block deals soon in ITC & GMR Airports. GQG looking to sell part stake via block deals in both companies, sources said.

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— NDTV Profit News (@NDTVProfit) October 7, 2026

Dabur India share price falls nearly 2% after the company reported Q2 business update. The company’s expected double-digit growth in the September quarter has left brokerages divided on how much of the improvement is already reflected in the stock. 

Nomura expects the recent recovery to gather pace and retains a Buy rating with a Rs 625 target, while Goldman Sachs remains Neutral with a Rs 485 target despite acknowledging an improved performance led by the India business.

The divide comes as Dabur expects double-digit growth in both consolidated revenue and its India FMCG business in Q2FY27. Nomura sees the company entering the coming quarters with a softer and favourable base, while Goldman Sachs is focusing on the quality of the improvement and the contribution from new 

Rising debt in the developed nations are forcing central banks to bridge their deficit by increasing rates. After a 40-year downtrend from 1980 to 2020, the global cost of capital is resetting, and India cannot stay insulated with crude above $100 and the rupee near 96. For the economy, this is a shift from growth-first to stability-first. Repo-linked EMIs rise within a quarter, the rupee gets a floor, and government borrowing costs climb, just as the Centre leans on capex. For companies, the hike redistributes pain, said Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities.

Leveraged real estate, infrastructure and debt-heavy mid-caps see margins squeezed, and EMI-driven demand in housing, autos and durables slows. CASA-rich banks gain as loans reprice before deposits; wholesale-funded NBFCs do not. Net-cash exporters in IT and pharma benefit twice over. For markets, expect a valuation reset, not an earnings collapse, with richly valued small- and mid-caps most exposed, Sheth added.
 

The RBI’s 25-basis-point hike was, in our assessment, a touch-and-go decision shaped by extraordinary circumstances. Resilient domestic growth provided room to act, while rising food prices, elevated global crude prices, higher global and domestic bond yields and rupee depreciation weighed heavily in favour of tightening. This does not necessarily herald a series of further hikes: even the calibrated tightening stance leaves room for a pause, depending on how inflation and external pressures evolve, said Sujan Hajra, Chief Economist & Executive Director, Anand Rathi.

With the move fully priced in, we do not expect a negative financial-market impact. Indeed, the RBI’s willingness to take a difficult decision should reassure markets about its commitment to price stability and strengthen confidence in its management of an unusually challenging environment, he added.
 

The Indian rupee declined to over 2 months low after the RBI announced repo rate hike. The local currency dropped to 96.53, its lowest in two months.

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Hindustan Unilever (HUL) has raised prices across its detergent portfolio in October, with Wheel, Surf Excel and Rin seeing price increases across multiple pack sizes, according to dealer checks. The latest hikes range from 2.2% to 7.1%, with several products seeing their second, third or even fourth price increase of the year.

HUL has increased the price of Wheel Powder 1 kg to Rs 93 from Rs 90, a 3.3% hike, while the 500 gm pack has become Rs 47 now from Rs 46, up 2.2%. This is the second price hike for Wheel Powder this year. The 1 kg pack was priced at Rs 83 in May and was subsequently raised to Rs 90, before the latest increase to Rs 93. Overall, the 1 kg Wheel Powder price has risen 12.0% year-to-date, or by Rs 10. Wheel is HUL's mass-segment detergent brand, targeting value-conscious consumers.

Against the backdrop of rapidly evolving financial markets and infrastructure, the Reserve Bank has decided to constitute a Technical Consultative Committee for Financial Markets. The Committee will serve as a forum for structured engagement with market participants and stakeholders by the Reserve Bank on policy and operational matters related to money, government securities and foreign exchange markets as well as the respective derivative markets and infrastructure. The composition and the terms of reference for the Technical Consultative Committee shall be separately notified.

RBI raises FY27 CPI inflation forecast to 5.2% from 5% earlier. Here are quarterly projections:

• Q2FY27 CPI Inflation Seen At 4.9% Vs 4.7% Seen Earlier 
• Q3FY27 CPI Inflation Seen At 6% Vs 5.9% Seen Earlier 
• Q4FY27 CPI Inflation Seen At 5.7% Vs 5.5% Seen Earlier 
• Q1FY27 FY28 CPI Seen At 5.6% Vs 5.3% Seen Earlier 
• FY27 Core Inflation Seen At 4.4% Vs 4.3% Earlier
   

The Bank Nifty index recovered from day’s low to turn flat after the RBI policy announcement. Kotak Mahindra Bank, Canara Bank, Punjab National Bank (PNB), Union Bank of India and State Bank of India (SBI) were the top index gainers.

The Reserve Bank of India (RBI) on Wednesday raised economic growth forecast for FY27.

The central bank now projects India’s real GDP growth at 7.1% in FY27 as against 6.7% projected earlier.

• Q1 FY28 Growth Seen At 7.1% Vs 7.3% Seen Earlier 
• Q4 GDP Growth Seen At 6.8% Vs 6.8% Seen Earlier 
• Q3 GDP Growth Seen At 6.9% Vs 6.5% Seen Earlier 
• Q2 GDP Growth Seen At 7.2% Vs 6.4% Seen Earlier

RBI sees FY27 core inflation at 4.4% as against 4.3% seen earlier.

The RBI MPC hiked the repo rate by 25 bps to 5.5% and changed the policy stance to ‘calibrated tightening’.

Bank Nifty index traded lower. Axis Bank, AU Small Finance Bank, IndusInd Bank, Union Bank of India and HDFC Bank were the top index losers.

Kalyan Jewellers India share price jumped over 3% after the company reported Q2 business update.
The company saw revenue growth of approximately 27% for its India operations during Q2 FY2027 as compared to Q2 FY2026, led by healthy same-store-sales-growth across all the key markets.

International operations recorded revenue growth of approximately 18%.

The company’s lifestyle jewellery brand, Candere, recorded a revenue growth of approximately 64% YoY.

During the recently concluded quarter, the company launched 12 Kalyan showrooms in India (net 11), 9 Candere showrooms in India and 1 Kalyan showroom in the UK.

Barring Nifty Media, all other sectoral indices were trading in the red, with Nifty Auto, Nifty Metals, Nifty PSU Banks, Nifty FMCG, Nifty IT and Nifty Oil & Gas falling the most.

Nifty IT index declined 0.9%, with all its constituents trading in the red. Infosys, Persistent Systems, TCS, Wipro and HCL Technologies were the top losers on the index.

Titan Company share price declined over 4% in early trade after the company reported its Q2 business update. The Tata Group company reported 25% year-on-year (YoY) growth across its consumer businesses in the second quarter of FY27. Jewellery, watches and EyeCare each posted over 20% growth in Q2FY27.

Citi maintained its ‘Buy’ rating with Titan share price target of Rs 5,700. Morgan Stanley retained its ‘Overweight’ rating with a target of Rs 5,483, while JPMorgan maintained ‘Overweight’ but lowered its target price to Rs 5,540 from Rs 5,650.

Among sectors, Nifty Auto, Nifty Metals, Nifty PSU Banks, Nifty FMCG, Nifty IT and Nifty Oil & Gas reeled under selling pressure, while Nifty Media and Nifty Pharma were in the green.

Broader markets traded mixed, with the Nifty Smallcap 100 index gaining 0.15%, while the Nifty Midcap 100 index falling 0.43%

The Sensex opened 102.43 points, or 0.14%, lower at 72,965.38, while the Nifty 50 declined 85.65 points, or 0.38%, to open at 22,690.45. The Bank Nifty index opened at 54,958.15, down by 170.25 points, or 0.31%.

The focus of the market attention today will be on the monetary stance and the message from the RBI Governor. A 25 bp hike in policy rates is inevitable and already discounted by the market. What is not discounted is the monetary stance and the central bank’s view on the emerging growth-inflation dynamics. Therefore, the market’s response to the policy would be influenced by the Governor’s comments on the emerging scenario, said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

It is important to note that the interest rate differential between India and the US is at very low levels. This is unsustainable. A rate hike to preempt further capital flight has become unavoidable in the context of rising US yields and rising dollar. Therefore, stabilisation of the rupee also will be on top of the RBI Governor’s mind even though the focus will be on growth-inflation dynamics, he added.

The Indian rupee opened 3 paise lower at 96.45 against the US dollar as compared with its previous close of 96.42 level.

Foreign institutional investors (FIIs) net sold Indian equities worth Rs 2,961.30 crore, while Domestic institutional investors (DIIs) bought Rs 5,088.92 crore on October 6, according to the stock exchange data.

Titan Company share price will be in focus after the company reported its Q2 business update, with jewellery growth coming in below expectations even as the product mix and buyer trends offered some comfort.

JPMorgan cut its target price on the stock, while Citi highlighted the sharp acceleration in studded jewellery as a potential margin positive.

Citi maintained its ‘Buy' rating on Titan with a target price of Rs 5,700. Morgan Stanley retained its ‘Overweight' rating with a target of Rs 5,483, while JPMorgan maintained ‘Overweight' but lowered its target price to Rs 5,540 from Rs 5,650.

The level of 22,800 remains the immediate resistance zone for Nifty 50. 

“A sustained breakout and close above this level could strengthen the recovery momentum and pave the way for a move towards the crucial 23,000 mark. The 23,000 level is likely to remain a significant hurdle, and a decisive breakout above it would be important for the broader trend to turn more positive,” said Ponmudi R, CEO of Enrich Money. 

On the downside, 22,600 remains the immediate support, followed by 22,400. A decisive break below 22,600 could weaken the ongoing recovery and bring the lower support levels back into focus, he added.

“Momentum indicators have also shown a marginal improvement, suggesting some easing in the recent downside pressure. The near-term technical outlook has improved to cautiously positive, although the broader trend remains under pressure. Sustained trading above 22,800, followed by a decisive breakout above 23,000, would be crucial to confirm a stronger and more sustainable recovery,” he said.

Gold prices held gains amid a decline in bond yields eased pressure on the US Federal Reserve to hike interest rates this month. Spot gold price was flat at $4,167.05 an ounce, while silver price was steady at $61.34.

The Reserve Bank of India (RBI) will announce its fourth bi-monthly monetary policy for FY27 today. Analysts expect the RBI Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) to raise the benchmark repo rate by 25 basis points to 5.50% from 5.25%, where it has remained for nearly 10 months. However, Street is divided on the stance.

US stock market ended higher on Tuesday, with the S&P 500 and Nasdaq posting all-time closing highs, supported by steady crude oil prices and easing Treasury yields.

The Dow Jones Industrial Average gained 253.14 points, or 0.49%, to 51,521.04, while the S&P 500 rallied 45.00 points, or 0.58%, to 7,818.95. The Nasdaq Composite closed 122.48 points, or 0.45%, higher at 27,599.79.

Asian markets traded mixed on Wednesday. Japan’s Nikkei 225 eased 0.12%, while the Topix rose 0.12%. South Korea’s Kospi gained 0.44% and the Kosdaq slipped 1.21%. Mainland China markets remain closed for a holiday.

The trends on Gift Nifty also point to a negative start for the Indian benchmark indices. Gift Nifty was trading around 22,670, indicating a discount of nearly 125 points to the previous close of Nifty futures.

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday, tracking mixed global market cues. Investor sentiment is likely to remain cautious ahead of the Reserve Bank of India’s (RBI) monetary policy decision, with focus shifting to the central bank’s policy stance and forward guidance.