Sensex Today Rallies 788 Points; Nifty Above 23,250

Asian markets traded largely lower on Monday, November 2, tracking losses on Wall Street, as investors assessed geopolitical developments in the Middle East and awaited a fresh batch of manufacturing activity data.

US markets ended Friday's session sharply lower, with all three major benchmarks posting losses.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

At present, the BSE Sensex is trading 788 points higher, and NSE Nifty is trading 212 points higher.

Tata Steel, NTPC, Maruti Suzuki are the top gainers today.

Sun Pharma, Tech Mahindra on the other hand is among the top losers today.

The BSE 150 Midcap index is trading 0.5% higher and the BSE 250 SmallCap index is trading 0.3% higher.

Baring telecommunication sector and healthcare sector all other sectoral indices are trading on a positive note today, with stocks in the auto sector and PSU Bank sector witnessing buying interest.

The rupee is trading at Rs 95.2 against the US dollar.

Bank of Baroda Q2 FY27 Results

State-owned Bank of Baroda (BoB) reported a 36% year-on-year (Y-o-Y) increase in net profit to Rs 65.32 billion in Q2FY27, its highest-ever quarterly profit. The growth was primarily supported by a sharp increase in non-interest income, following the sale of a portion of its National Stock Exchange (NSE) stake during the exchange's recent initial public offering (IPO).

Net interest income (NII) increased 9% Y-o-Y to Rs 130.26 billion during the quarter. Non-interest income rose nearly 96% Y-o-Y to Rs 68.81 billion, largely driven by treasury gains of Rs 40.93 billion. Treasury income stood at Rs 10.86 billion in Q2FY26 and Rs 8.93 billion in Q1FY27.

The bank's net interest margin (NIM) declined 3 basis points (bps) sequentially to 2.74% in Q2FY27, marginally below its guided range of 2.75-2.95%. However, the first-half NIM stood at 2.76%, within the guidance range. Managing Director and Chief Executive Officer Debadatta Chand said the bank expects margins to improve in the second half of FY27, supported by the interest rate outlook.

Provisions increased 93% Y-o-Y to Rs 23.82 billion in Q2FY27, although they declined significantly from Rs 63.23 billion in the preceding quarter.

Asset quality improved during the quarter, with the gross non-performing assets (NPA) ratio declining 21 bps sequentially to 1.78%. The net NPA ratio also improved by 13 bps to 0.37%.

Global deposits increased 16.4% Y-o-Y to Rs 17.45 trillion. Domestic deposits grew 16.6% to Rs 14.83 trillion, while international deposits increased 14.9% to Rs 2.61 trillion.

Indian Oil Corporation Q2FY27 Results

Shares of Indian Oil Corporation (IOC) came into focus after the company reported its Q2 FY27 results.

State-run Indian Oil Corporation (IOCL) reported a 174.7% year-on-year (Y-o-Y) surge in consolidated net profit to Rs 225.03 billion in Q2FY27, compared with Rs 81.91 billion in the corresponding quarter of the previous financial year.

The company returned to profitability in Q2FY27 after posting a loss of Rs 12.41 billion in Q1FY27. The recovery was supported by improved marketing margins following the government's cumulative Rs 7 per litre increase in retail fuel prices in May.

For the first half of FY27, IOCL reported a consolidated net profit of Rs 213.62 billion, registering a 42% increase from Rs 149.99 billion in the corresponding period of FY26.

Consolidated revenue from operations increased 30% Y-o-Y to Rs 268 billion in Q2FY27, compared with Rs 206 billion in Q2FY26. Total income also grew 30% to Rs 269 billion from Rs 207 billion in the year-ago quarter.

On the operational front, the company's domestic sales increased to 23.977 million tonnes during the quarter, compared with 22.85 million tonnes in Q2FY26. However, exports declined to 1.251 million tonnes from 1.411 million tonnes in the corresponding quarter of the previous financial year.