Indian Market Live Update at 12:00 PM IST

Sensex Surges 500 Points as Jio Platforms Becomes India's Second Most Valuable Company

Direct answer

Indian equity benchmarks are trading significantly higher today, with the Sensex surging over 500 points and the Nifty reclaiming the 22,850 mark, buoyed by the US Federal Reserve's decision to hold interest rates steady. A major highlight is Jio Platforms, which continued its post-listing rally, solidifying its position as India's second most valuable listed company. Meanwhile, SEBI announced plans to review Foreign Portfolio Investor (FPI) compliance norms to align with global standards, aiming to attract more foreign capital.

Key highlights

• Jio Platforms: Market capitalization surged to approximately $144 billion, making it India's second most valuable listed company after its strong debut.
• SEBI: Chairman Tuhin Kanta Pandey announced a forthcoming consultation paper to align FPI compliance requirements with international standards.
• Indian Markets: Sensex climbed over 500 points to 73,796.13, and Nifty 50 gained 156 points to 22,854.85 by late morning trade.
• Tata Communications: Announced a strategic investment of nearly $450 million to build an AI super highway across India.
• JSW Energy: Reported a nearly 50% year-on-year jump in Q2 net profit to ₹1,056.4 crore, with revenue rising 23%.

Jio Platforms Soars, Becomes India's Second Most Valuable Company

Jio Platforms Ltd, the digital services arm of Reliance Industries, has extended its impressive post-listing rally, with its market valuation soaring to approximately $144 billion (around ₹12 lakh crore) in just two trading sessions. This surge has cemented its position as India's second most valuable listed company, surpassing established giants and trailing only its parent company, Reliance Industries.

The company, which debuted on the stock exchanges on October 28, listed at ₹1,358 per share, a 21.4% premium to its IPO price of ₹1,119. On Thursday, shares of Jio Platforms jumped as much as 5.1%, building on the nearly 27% surge seen on its trading debut. This robust performance underscores strong investor appetite for direct exposure to India's leading telecom and digital services provider, which boasts a customer base exceeding 500 million.

The listing and subsequent rally have also propelled Jio Platforms ahead of Bharti Airtel in market capitalization, making it the most valuable telecom company in India. Investors are now keenly awaiting Jio's quarterly earnings, scheduled for release on Friday, which will provide further insights into the company's revenue and profit growth outlook and help justify its rich valuation. The strong debut of Jio Platforms further strengthens Reliance Industries' overall market position as India's most valuable conglomerate.

SEBI to Review FPI Compliance Norms, Align with Global Standards

The Securities and Exchange Board of India (SEBI) is set to review compliance requirements for Foreign Portfolio Investors (FPIs) and will issue a consultation paper to seek stakeholder views on aligning Indian norms with global standards. SEBI Chairman Tuhin Kanta Pandey announced this initiative, emphasizing the regulator's aim to facilitate greater foreign investor participation in Indian capital markets while maintaining robust safeguards for investor protection and market integrity.

Speaking at an industry summit, Mr. Pandey acknowledged that some compliance requirements in India remain more onerous compared to other major global jurisdictions. The proposed review follows several steps already taken by SEBI to streamline market access for foreign investors, including easing digital onboarding processes and simplifying procedures. This move signals a proactive approach by the Indian market regulator to enhance the ease of investing in India, potentially attracting more foreign capital crucial for the nation's economic growth.

The consultation paper will invite suggestions on how to bridge the gap between Indian regulations and international best practices, ensuring that India remains an attractive destination for global investors without compromising on market safety and stability. This development is expected to be a significant positive for foreign investment inflows into India's equity and debt markets.

More stocks and market news

Tata Communications: $450 Million Investment for India's AI Super Highway

Tata Communications has announced a strategic investment of close to $450 million (approximately ₹3,750 crore) to build an "AI super highway" across India. This initiative involves creating a high-speed, low-latency network fabric connecting key AI data-centre corridors by laying around 10,000 kilometers of new long-haul fiber. The company aims to establish one of the country's largest AI-ready connectivity networks, integrated with its global network backbone. This infrastructure is designed to support the performance, resilience, and scale required for next-generation AI workloads, catering to the rapidly expanding data center industry in India.

Indian Benchmarks Rally on US Fed Decision and Earnings Optimism

Indian equity markets witnessed a strong upswing today, with the Sensex climbing over 550 points to 73,796.13 and the Nifty 50 gaining 156 points to reach 22,854.85 by late morning. The rally was primarily driven by positive global cues, particularly the US Federal Reserve's decision to hold its benchmark interest rate steady at 3.75%-4%, as widely expected. This stability in US monetary policy, coupled with a mixed but generally positive start to the domestic earnings season, boosted investor sentiment. Broader market gains were observed across most sectoral indices, with IT, media, and PSU banks leading the advances.

JSW Energy and Hyundai Motor India Post Strong Q2 Results

JSW Energy reported a robust financial performance for the second quarter, with its net profit surging by nearly 50% year-on-year to ₹1,056.4 crore. The company's revenue from operations also saw a significant increase of 23% to ₹6,368.5 crore. Following these strong results, JSW Energy shares surged over 4% in early trade. Similarly, Hyundai Motor India announced consolidated revenue for the September quarter that rose year-on-year and exceeded Street estimates, leading to its shares also gaining over 4%. These positive earnings reports contributed to the overall market optimism.

Market context

As of 12:00 PM IST, the Sensex is trading at 73,796.13, up 550.10 points (0.75%), while the Nifty 50 is at 22,854.85, up 156.00 points (0.69%). The Nifty Bank index is also trading higher. The India VIX, a measure of market volatility, has eased, falling 2.03% to 15.98. Global markets presented mixed cues, with Asian markets generally higher after the US Fed's rate decision, though some indices like the Shanghai Composite saw declines. Crude oil prices remain elevated, with Brent crude trading near $114 per barrel, posing a potential headwind for India's import bill. The Indian Rupee opened stronger against the US Dollar at 95.17.

Why these stories matter

The continued surge of Jio Platforms highlights the immense investor confidence in India's digital economy and its leading players, potentially drawing more investment into the technology and telecom sectors. SEBI's move to review FPI norms is crucial for enhancing India's attractiveness as an investment destination, which could lead to increased foreign capital inflows and market liquidity. Tata Communications' significant investment in AI infrastructure underscores the growing importance of AI in India's digital transformation and could spur further investments in related sectors. The broader market rally, supported by stable US interest rates and strong corporate earnings from companies like JSW Energy and Hyundai, reflects a positive sentiment among investors despite persistent global uncertainties.

What to watch next

• Jio Platforms Earnings: Investors will closely monitor Jio Platforms' Q2 earnings report on Friday for future growth guidance.
• SEBI Consultation Paper: Details of SEBI's consultation paper on FPI norms will be keenly watched for specific proposed changes.
• Corporate Earnings: More Q2 FY27 results from major companies like Coal India, Asian Paints, IndiGo, and Trent are due today, which will influence sector-specific movements.
• Global Crude Oil Prices: Continued monitoring of international crude oil prices remains critical due to their impact on India's inflation and trade balance.

Sources

• News On AIR: SEBI to issue consultation paper on aligning Indian investment rules with global standards
• Kotak Neo: Jio Platforms Overtakes Bharti Airtel And Becomes India's Second Most Valuable Company After Listing At Over 21% Premium
• The Edge Malaysia: Jio Platforms adds US$36 bil in market value in two sessions
• Fortune India: Sebi to review FPI compliance norms, issue consultation paper to align rules with global standards
• Financial Express: Share Market Today LIVE, 29th October 2026: Sensex up 500 points, Nifty reclaims 22,800; JSW Energy, Hyundai Motor India surge
• PRNewswire: Tata Communications to Build India's AI Super Highway
• Tradebrains: Stock Market Live Updates Today: Sensex Rises 185 Points to 73,431; Nifty Gains 45 Points as IT Stocks Advance 0.73%
• Economic Times: Sensex Today | Nifty 50 | Stock Market Live Updates: Sensex climbs 550 pts, Nifty above 22,850; IT, PSU bank stocks rally
• NDTV: Stock Market LIVE Updates, Sensex Today: Sensex Jumps 500 Points Amid Mixed Global Cues
• ET Now: Coal India, Asian Paints, IndiGo, Trent, and Suzlon Among 140+ Companies Reporting Q2 Results Today, October 29

FAQ

1. Why are Indian markets rising today?

Indian markets are rising today primarily due to positive global cues, specifically the US Federal Reserve's decision to keep interest rates unchanged. This has boosted investor confidence. Additionally, strong corporate earnings from some companies and continued momentum from recent market events like the Jio Platforms listing are contributing to the positive sentiment.

2. What is the significance of Jio Platforms becoming India's second most valuable company?

Jio Platforms becoming India's second most valuable listed company highlights the immense investor confidence in India's digital economy and its leading telecom and technology players. It signifies the growing importance of digital services and telecommunications in the Indian market and reflects strong investor appetite for companies with large customer bases and growth potential in this sector.

3. How will SEBI's review of FPI compliance norms impact foreign investment?

SEBI's review of FPI compliance norms, aimed at aligning them with global standards, is expected to make it easier and more attractive for foreign investors to participate in Indian capital markets. This could lead to increased foreign capital inflows into India's equity and debt markets, enhancing liquidity and potentially boosting market valuations.

4. What is Tata Communications' AI super highway project?

Tata Communications' AI super highway project is a strategic investment of nearly $450 million to build a high-speed, low-latency network fabric across India. This network will connect key AI data centers with 10,000 kilometers of new fiber, creating an AI-ready connectivity infrastructure essential for supporting next-generation AI workloads and the rapidly growing data center industry in the country.

5. Which major companies are announcing Q2 results today?

Several major companies are scheduled to announce their Q2 FY27 results today, October 29, including Coal India, Asian Paints, IndiGo, Trent, Suzlon Energy, and Ambuja Cements. These results will be closely watched by investors for insights into sectoral performance and overall economic health.

Disclaimer: This article is for educational purposes only. It does not constitute investment advice. Please consult a SEBI-registered financial advisor before making investment decisions.