Benchmark indices extended gains for a third straight session on Wednesday, recovering from a weak start as buying picked up through the day. Sensex closed 78 points higher, and Nifty added 48 points, even as IT stocks tumbled sharply. Broader markets outperformed, while global cues and geopolitical tensions kept sentiment cautious.
The Indian rupee ended modestly weaker on Wednesday, as companies hedged their dollar exposures and as traders assessed the stronger outlook for the Asian currency a day after a trade deal with the U.S. led to its sharpest rally in over 7 years.
Zoho founder Sridhar Vembu has warned that AI is bursting the “inflated” SaaS bubble, as automation threatens core coding and professional tasks. He said the SaaS sector was already “ripe for consolidation,” citing a business model overly reliant on sales and marketing over product development. Years of venture capital and market hype, he added, have sustained an unsustainable system.
Bharti Airtel is expected to deliver steady Q3 results, with brokerages forecasting up to 18% YoY revenue growth and a 35% jump in profit. ARPU expansion, strong home broadband momentum, and sustained gains in Airtel Africa are seen driving performance, while consolidated margins are likely to remain stable to slightly higher.
Aluminium prices rose on the MCX, supported by gains in Asian markets and limited global supply after China capped output. Analysts say the metal has corrected from recent highs but remains in an upward trend, with strong support near Rs 305–310 and potential upside toward Rs 335–340 in the coming weeks.
Fractal Analytics is set to launch India’s first pure-play AI IPO next week, aiming to raise Rs 2,834 crore amid rising global investor interest in AI-driven businesses. The issue is drawing strong grey market interest with a 21% premium, supported by the company’s global client base and improving financials, though valuation concerns remain.
Tata Motors PV Q3FY26 may show resilient India passenger vehicle demand but weak consolidated results as Jaguar Land Rover faces production disruption and margin stress after a cyber-attack, with most brokerages forecasting revenue decline and losses despite steady domestic volumes.
Finance Minister Nirmala Sitharaman defended the STT hike on F&O trading, citing heavy retail losses and aiming to curb speculation. She highlighted increased spending on health and education, not cuts, and outlined a target of 50% debt-to-GDP by 2030-31. The budget also includes significant rural employment funding and infrastructure projects for election-bound states, incorporating youth feedback.
Bajaj Finserv Q3 Results: Bajaj Finserv reported a flat consolidated net profit of Rs 2,229 crore for Q3FY26, while revenue rose 24% to Rs 39,708 crore. Interest income and insurance operations supported growth, even as emerging businesses posted losses. Bajaj Finance, Bajaj General and Bajaj Life all recorded healthy growth across lending, premiums and new business metrics.
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