Rate-sensitive shares, PVR Inox, Airtel among buzzing stocks as SENSEX slumps over 500 pts; NIFTY trades below 22,600

The Indian benchmark indices, SENSEX and NIFTY50, were trading in negative territory during the afternoon session on Wednesday, October 7, as the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) unanimously decided to raise the policy repo rate by 25 basis points (bps) to 5.50% for the first time since February 2023, at its latest bi-monthly review.

Furthermore, a weakening rupee, a rise in global crude oil prices and continued foreign investment outflows also weighed on investor sentiment.

The SENSEX tumbled as much as 0.79% to hit an intraday low of 72,488.29. Meanwhile, the NIFTY50 tanked as much as 0.98% to touch the session’s low of 22,552.60.

At 1:24 PM, the S&P BSE SENSEX slumped by 508.68 points, or 0.70%, to trade at 72,559.13, while NSE’s NIFTY50 stood at 22,571.85, registering a 204.25-point, or 0.90% fall.

On Tuesday, the foreign institutional investors (FIIs) sold shares worth ₹2,961.30 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹5,088.92 crore on a net basis, according to exchange data.

The top losers in the NIFTY50 index included Titan Company, Shriram Finance, Hindalco Industries, Asian Paints, and Bajaj Auto.

On the contrary, Bharti Airtel, Kotak Mahindra Bank, BSE, Coal India, and Eternal were among the top gainers.

Buzzing stocks on October 7: Check list

Bank stocks were in the green zone after the repo rate hike, as higher interest rates can allow banks to charge more on loans, potentially supporting their interest income. If lending rates rise faster than the rates paid on deposits, banks can benefit from a wider net interest margin (NIM), which can improve profitability.

Shares of Kalyan Jewellers India surged as much as 6.03% to hit an intraday high of ₹581.20 per unit on the National Stock Exchange (NSE) on Wednesday, October 7, as investors focused on the company’s latest healthy business performance update for the July to September quarter of the financial year 2026-27.

In the July to September quarter of FY27, Kalyan Jewellers recorded a consolidated revenue growth of more than 26% when compared to the same period in the previous financial year, according to the NSE filing.

In the company’s India operations, Kalyan Jewellers recorded a 27% growth in revenues in Q2, powered by strong operating momentum on the ground, with healthy same-store sales growth across all key markets in the country despite the high base due to strong Navratri sales.

The stock of Utkarsh Small Finance Bank (SFB) soared as much as 6.7% to hit the session’s peak of ₹14.43 per equity share on October 7, as the company reported its business updates for Q2 FY27.

The bank posted a 54.9% year-on-year (YoY) surge in its total disbursements to ₹3,525 crore during the quarter under review, compared with ₹2,275 crore in the September quarter of the 2025-26 fiscal year (Q2 FY26), according to a regulatory filing.

On a sequential basis, the SFB saw its total disbursements rise 4.6% quarter-on-quarter (QoQ) from ₹3,370 crore in the preceding quarter.

It recorded a gross loan portfolio of ₹20,063 crore in Q2 FY27, as against ₹18,655 crore in the same period last year. It advanced 2.3% QoQ from ₹19,610 crore in the first quarter of FY27 (Q1 FY27).

Titan Company shares fell up to 4.7% to ₹4,335.60 apiece on the NSE in early trade on Wednesday, after the company’s Q2 FY27 business update showed domestic jewellery growth of around 21% YoY, below several analysts’ expectations.

In the jewellery segment, across all brands, Titan clocked nearly 21% YoY growth for the quarter. “Consumer demand was healthy for most of the quarterly period, with some softening towards the close owing to a shift in the festive calendar to Q3FY27,” the firm said.

Analysts attributed the softer performance largely to the shift in festive demand into the December quarter, high gold prices and a decline in investment-led gold coin sales, rather than a broad-based weakening in underlying jewellery demand. Analysts also highlighted the strong growth in studded jewellery, CaratLane, watches and eyecare, while remaining largely positive on the stock.

The stock of Glass Wall Systems (India) Ltd declined as much as 7.6% to reach the session’s low of ₹254.70 per equity share on the NSE, as the company released its latest set of numbers for the first quarter of the financial year 2026-27.

In an exchange filing, the company announced that its consolidated profit after tax declined 7.7% to ₹17 crore in the quarter ended June 2026. The net profit stood at ₹19 crore in the same period of the previous fiscal year.

However, its revenue from operations advanced 35.8% to ₹107 crore in the first quarter of FY27, compared to ₹79 crore a year back.

Bharti Airtel shares climbed as much as 2.35% to hit an intraday high of ₹1,853.10 per unit, following the launch of its new postpaid plans with added features such as free international roaming, along with unlimited data, fast lane tech, safety features, and entertainment.

“From October 8, 2026, customers can enjoy one international trip with free roaming every year with these new postpaid plans, along with all existing benefits,” it stated.

It also announced a hike in monthly rentals across its postpaid portfolio. Under the revised portfolio, the individual postpaid plan has been priced at ₹499 per month, up from ₹449 currently, while family plans will also become costlier.

Dilip Buildcon’s stock rose as much as 3.6% to touch the session’s high of ₹415.20 per equity share on October 7, as it bagged an order worth ₹1,800 crore from the Petroleum and Natural Gas Regulatory Board (PNGRB).

According to a regulatory filing, the company will focus on laying, building, operating and expanding petroleum and petroleum product (LPG) pipelines from Paradip, Odisha, to Raipur, Chhattisgarh.

Separately, the firm also received the provisional completion certificate for the ₹1,647 crore Karimnagar-Warangal highways project.

Shares of PVR Inox rallied as much as 10% to hit a 52-week high of ₹1,374.80 apiece on the NSE on Wednesday, after analysts at CLSA noted the company’s growing footfalls, with growing theatrical releases, as India has been seeing the release of 1,500 movies a year.

The analysts added that movie monetisation is best when done via theatrical releases. They also took note of the company’s screen expansion and tie-ups with developers.