Financial Summary: Wednesday, October 28, 2026

Infosys Erases ₹25,000 Crore Market Cap as IT Stocks Slide 5%

Infosys shares fell 5.3% over two sessions, erasing ₹25,000 crore in market capitalization as the broader Nifty IT index declined 3.6%. The broader market weakened, with the Sensex dropping 995 points.

Gold slips to $4,045 as oil-driven inflation fears grip markets before Fed decision

Gold prices eased to ₹1.43 lakh per 10 grams, reversing a 1% gain from the previous session, as silver futures dropped to ₹1.95 lakh per kilogram.

Sensex Sheds 10,000 Points as Nifty Slides 12% Since Diwali

The Sensex declined 353 points to close at 73,246.03, as Nifty fell 12%. Jio Platforms' debut added valuation, but IT sector underperformed. Foreign institutional investors purchased ₹4,240.39 crore worth of equities.

Jio Platforms debuts up 21%, overtakes Tata as India's most valuable group

Jio Platforms listed on the BSE at a 21.3% premium to its IPO price, valuing Reliance as India's most valuable corporate group, surpassing Tata. The IPO raised Rs 30,200 crore with strong demand.

L&T Q2 profit climbs 33% to ₹5,202 crore on record orders

L&T reported a 33% year-on-year jump in Q2 net profit to ₹5,202 crore, driven by record order intake. The results were announced alongside a busy earnings day that also saw SAIL post a four-fold profit surge to ₹1,750 crore on cost optimisation and higher sales, though it missed estimates. Other Q2 updates included Bajaj Auto's PAT rising 35%, while Maruti Suzuki, Cipla, ACC and Mazagon Dock saw profit declines.

United Breweries Shares Surge 15% as Q2 Profit Jumps 191%

United Breweries shares gained 15% after Q2FY27 profits surged 191% year-on-year, driven by doubled EBITDA to ₹260 crore and 24% revenue growth to ₹2,536 crore.

DGCA data shows domestic air passenger traffic fell 6.49% in September

DGCA data shows domestic air passenger traffic declined 6.49% in September, with SpiceJet's domestic market share falling below Star Air for the first time. The twin developments point to a weakening demand environment and shifting competitive dynamics among carriers. The story now centers on whether the traffic slump persists into the festive quarter.

Finance Ministry to roll out simplified GST discount and refund rules from Nov 1

The Finance Ministry will implement simplified GST rules from November 1, reducing documentation requirements for businesses and allowing them to exclude eligible post-sale discounts from taxable value through GST credit notes, effective immediately.

India, Mexico Sign Terms of Reference, Launch Preferential Trade Talks

India and Mexico have signed the Terms of Reference for negotiations on a Preferential Trade Agreement, marking the start of discussions aimed at expanding bilateral trade and investment ties, with key sectors including automobiles, chemicals, and pharmaceuticals.

SK Hynix Posts Record $62.8B Q3 Profit, Fuels $45B Payout

SK Hynix reported a record third-quarter profit of $62.5 billion, surpassing expectations on strong AI memory demand, and announced a $45 billion share repurchase and dividend program.

Anthropic taps JPMorgan to lead retail IPO as investors split on $80bn losses

Anthropic has appointed JPMorgan to lead its U.S. retail IPO, as investors debate the value of a company with $131.7 billion in cash and significant future obligations.

Jio Lists With 7.96 Million Shareholders, India's Most Widely Held Stock

Reliance Jio, now India's most widely held stock with 7.96 million shareholders, made its market debut. Akash Ambani, Jio Platforms' Managing Director, outlined a ten-year strategy focusing on AI, cloud, and space connectivity, aiming to democratize these technologies.