Stock News Highlights
Marico (+10.00%): Stock emerged as the day’s top gainer after Q2 FY27 net profit jumped 31% YoY to ₹550 crore, while revenue grew 13% to ₹3,897 crore. EBITDA rose 27% to ₹709 crore, with margins expanding 200 bps to 18.2%, supported by easing copra prices and 10% domestic volume growth.
ITC (+2.82%): Stock rose despite Q2 FY27 consolidated net profit declining 18.6% YoY to ₹5,126 crore due to pressure on cigarette volumes. However, revenue surged 44% to ₹30,578 crore, while the non-cigarette FMCG business recorded 19% growth, its highest in 14 quarters, supporting investor sentiment.
Trident (+7.11%): Stock rise after Q2 FY27 consolidated net profit surged 93.1% YoY to ₹175.6 crore, despite revenue declining 3.8% to ₹1,719.5 crore. Investor sentiment was supported by the board’s approval of a ₹4,650 crore capacity expansion and modernisation project.
KEC International (-9.36%): Stock declined after Q2 FY27 consolidated net profit plunged 81.5% YoY to ₹29.7 crore, while revenue fell 10.2% to ₹5,467.7 crore. Weak execution and lower profitability weighed on performance, highlighting operational pressure despite the company’s diversified infrastructure and EPC business.
Sectoral Performance
Nifty FMCG (+3.65%): Sector emerged as the top gainer, led by strong buying in Marico and ITC following their Q2 FY27 results. All index constituents ended in the green, as resilient earnings performance and encouraging business updates boosted investor confidence across the FMCG space.
Nifty Realty (+2.33%): Sector extended its gains for the second consecutive session, with 9 gainers and 1 loser. The rally was supported by improved market sentiment, easing crude oil prices, renewed foreign investor buying and optimism around domestic real estate demand. Lodha Developers led the gains following positive management commentary after its Q2 results.
Nifty PSU Bank (-1.27%): Sector declined despite a broader market rally, as investors booked profits and rotated towards FMCG, Realty and Private Banking stocks. SBI, Punjab National Bank and Indian Bank emerged as the biggest laggards, weighing on the index amid underperformance of PSU lenders against private banking peers.
Nifty Metal (-0.14%): Sector edged lower despite a mixed market breadth of 20 gainers and 18 losers. Profit-booking in select metal stocks and cautious sentiment around global commodity demand weighed on the index, while gains in several constituents limited the downside.
Market Insights
Technical Level: Nifty opened with a strong gap-up but witnessed initial selling pressure during the opening session. However, it recovered the early losses, finding support near 23,480, and maintained an upward trajectory by forming higher highs throughout the day. The index closed firmly at positive resistance at 23,810, indicating sustained buying momentum towards the close.
Advance-Decline Ratio: Market breadth remained positive, with 2,127 stocks advancing against 1,477 declining, resulting in an A/D ratio of 1.44, indicating broader buying interest across the market.
The Big Picture: North Korea denied involvement in the $6.3 billion Binance hack, with investigators tracing the stolen funds across 11 blockchains and about $2.85 billion frozen or seized so far. Intel remains under pressure to revive its foundry business after its shares fell 45% in October on weak PC demand, supply constraints and a lack of major outside customers.
FII/DII Activity (November 02, 2026): FIIs were net buyers at ₹3,114 crore, while DIIs were net sellers at ₹392 crore, indicating strong foreign institutional buying despite domestic institutional outflows.
Watch Out For Tomorrow
Market Watch: For investors, four green sessions help, but falling crude and policy hopes need follow-through before this becomes a trend. Zydus Lifesciences, Torrent Power, V-Mart Retail and several other companies report Q2 results today and tomorrow.
Word of the day
Earnings Momentum
Meaning: The pace at which a company’s profits grow over successive quarters, indicating whether its financial performance is strengthening or weakening.
In Simple Words: When a company consistently reports rising profits, it shows positive earnings momentum.
Market Example: Marico showed strong earnings momentum in Q2 FY27, with net profit rising 31% YoY to ₹550 crore.
Why It Matters: Strong earnings momentum can improve investor confidence and influence stock valuations.