SENSEX surges nearly 700 points, NIFTY50 reclaims 24,800; Netweb Technologies, Pfizer, RITES among buzzing stocks

The Indian equity benchmarks were on track to snap their eight-day losing streak on Wednesday, October 1, as market participants after the Reserve Bank of India raised economic growth forecast and lowered inflation projection for the current financial year.

The RBI raised its GDP growth forecast to 6.8% for the current financial year from its earlier estimate of 6.5%. and lowered its inflation projection to 2.6% hinting at rate cuts going ahead. The SENSEX rose as much as 687 points and NIFTY50 index reclaimed its important psychological level of 24,800.

As of 12:16 pm, the SENSEX was up 650 points at 80,918 and NIFTY50 index advanced 192 points to 24,803.

Trading volume more than doubled to 81.93 lakh shares on the National Stock Exchange compared with an average trading volume of 36 lakh shares.

As many as 6.78 lakh shares changed hands on the BSE compared with an average of 3.91 lakh shares traded daily in the past two weeks.

The agreement with pharmaceutical giant Pfizer will see prices for some medicines slashed by up to 85% on the direct-to-consumer TrumpRx site, the White House said in a press conference on Tuesday.

The application size was 73 shares. Investors who received Epack Prefab Technologies IPO allotment saw their investment value drop to ₹13,421.05 per lot.

The company's ₹504 crore IPO consisted of a fresh issue of shares valued at ₹300 crore and an offer for sale of 1 crore shares by promoters valued at ₹204 crore.

The rally, with a 20% spike in Tuesday’s trade alone, comes after the company last week said that it got shareholders' approval to split its stock.

TICL, in its filing last week said, "On September 22, 2025, the Company announced the outcome of the postal ballot process, through which the shareholders approved the following resolutions: Subdivision of Ordinary (Equity) Shares of the Company, Alteration of the Capital Clause of the Memorandum of Association of the Company, and Alteration of the Capital Clause of the Articles of Association of the Company."

Furthermore, the transport infrastructure consultancy and engineering firm, on Tuesday, said it has signed a pact with UAE-based Etihad Rail for business collaboration with its subsidiary, National Infrastructure Construction Company (NICC).

At least six premises of some linked entities in Mumbai and Mhow in Indore were searched, PTI reported, quoting official sources.

The surprise action was part of a Foreign Exchange Management Act (FEMA) investigation being conducted against Reliance Infrastructure on charges of making some illegal remittances abroad, the report said.