markets · Markets / Earnings / Economy
Nifty slips to 22,363 as CPI hits 5.54%; HCLTech Q2 profit ₹5,132 crore, RBI sells ₹25,000 crore of bonds today
Friday’s bounce did not hold. The Nifty gave back most of that gain on Monday as retail inflation printed a hotter 5.54% for September and foreign funds sold for an eighth straight session. IT major HCLTech still delivered its highest-ever quarterly profit, and the RBI’s ₹25,000 crore bond sale lands this morning.
60-sec
Monday 12 Oct close (NSE):
| Close | Day | |
|---|---|---|
| Nifty 50 | 22,363.35 | −0.70% (13 up, 36 down, 1 unchanged) |
| Nifty Bank | 54,918.00 | −0.61% |
| Nifty IT | 28,349.60 | −0.79% |
| Nifty FMCG | 44,113.40 | −1.67% |
| Nifty Midcap 100 | 58,834.55 | +0.08% |
| Nifty Smallcap 100 | 19,425.80 | +1.42% |
| India VIX | 15.24 | +5.98% |
| Nifty P/E | 19.12 | — |
Flows (NSE provisional, cash, ₹ crore, 12 Oct): FPI/FII −1,708.48; DII +3,045.02.
Inflation (MoSPI, provisional, base 2024=100): September CPI 5.54% YoY (Aug final 4.83%); rural 6.08%, urban 4.88%. Food (CFPI) 7.74% (Aug 5.97%). Combined CPI index 109.49.
Takeaway: Domestic funds again bought more than foreigners sold, but the index still fell and smallcaps were the bright spot. Inflation is inside the RBI’s 2–6% band but further above the 4% target. Not investment advice.
Analysis
A one-day fade after Friday’s bounce
Nifty had closed Friday at 22,520.45 to end an eight-week losing streak (Monday morning wrap). Monday’s 157.10-point drop put it back near 22,363. Banks and IT weakened with the index; FMCG fell harder; the Midcap 100 was flat and the Smallcap 100 rose 1.42%. India VIX climbed to 15.24.
Foreign funds’ provisional cash selling was lighter than last week’s daily peaks, but it was still an eighth straight negative session in the series we track. DIIs bought about ₹1,337 crore more than FPIs sold on the day (Capital Chronicle arithmetic on NSE provisional nets).
CPI: 5.54%, food 7.74%
MoSPI’s National Statistics Office released September CPI at 4 p.m. on 12 Oct. Headline inflation rose to 5.54% from a final 4.83% in August. Food inflation on the Consumer Food Price Index jumped to 7.74%. Among divisions shown in the release, personal care and miscellaneous goods & services printed 13.75%, restaurants and accommodation 9.36%, food and beverages 7.36%, and transport 5.01%. Housing, water, electricity, gas and other fuels was 2.74%. October CPI is due 12 Nov 2026 (or the next working day).
The print lands five days after the RBI raised the repo rate to 5.50% and a day before the central bank’s ₹25,000 crore OMO sale of G-Secs (Monday’s liquidity story). Bids for that multi-security auction run 9:30–10:30 a.m. IST today; results are due the same day, with settlement funds by noon 14 Oct (RBI press release, 9 Oct).
HCLTech: highest-ever quarterly net income
HCLTech filed Q2 FY27 results on Monday afternoon (NSE/BSE):
| Q2 FY27 | Figure |
|---|---|
| Revenue | ₹35,620 cr (+3.0% QoQ, +11.5% YoY) |
| Revenue ($) | $3,724 mn (+2.0% QoQ, +2.2% YoY); +2.3% QoQ / +2.6% YoY in constant currency |
| EBIT margin | 18.2% (+131 bps QoQ) |
| Net income | ₹5,132 cr (+11.0% QoQ, +21.2% YoY) — company called it its highest-ever quarterly net income |
| New deal bookings | $3,258 mn (company also describes $3.3 bn, +27% YoY) |
| Advanced AI revenue | $219 mn in the quarter (annualised $876 mn) |
| Interim dividend | ₹12 per share (record date 16 Oct, pay date 26 Oct per company filings) |
| Headcount add | 6,450 people in the quarter (including 6,136 freshers) |
| FY27 CC revenue guidance | Raised to 2.5%–4.0% YoY (services 3%–4%); EBIT margin band 17.5%–18.5% retained |
CEO C Vijayakumar pointed to bookings and AI demand; CFO Shiv Walia highlighted the revenue and net-income print in the investor release.
RBL Bank: profit ₹482 crore
RBL Bank’s board cleared unaudited Q2 results the same day. Net profit was ₹482 crore (+170% YoY). Net interest income ₹2,131 crore (+37% YoY), NIM 4.61%. Net advances ₹1,42,314 crore (+42% YoY); total deposits ₹1,56,272 crore (+34% YoY). GNPA 1.02%, NNPA 0.29%. Capital adequacy 30.1% (CET1 29.0%) as of 30 Sep 2026.
Results still on today’s calendar
NSE board-meeting lists for Tue 13 Oct still include Tata Elxsi, ICICI Prudential Life, Hero Motors and TARIL among others. Later in the week: Canara Bank, BHEL, Groww, Wipro, DLF and Federal Bank (full week list in Monday’s wrap).
What to watch Tuesday
- How the market digests 5.54% CPI alongside the ₹25,000 crore RBI bond sale
- Whether FPI selling stays lighter than last week’s ₹3,000–13,000 crore daily hits
- Tata Elxsi and ICICI Prudential Life prints; IPO Day-1 books for HD Fire and LoanFront (IPO story)
Sources
- NSE index close and breadth for 12 Oct 2026; provisional FII/FPI and DII cash-market data for 12 Oct 2026. https://www.nseindia.com/api/allIndices · https://www.nseindia.com/api/fiidiiTradeReact
- Ministry of Statistics and Programme Implementation (NSO) — Press Release of Consumer Price Index on base 2024=100 for September 2026, dated 12 Oct 2026 (CPI 5.54%, CFPI 7.74%, rural/urban splits, division-wise rates, next release date). https://www.mospi.gov.in/
- HCL Technologies Limited — Investor Release Q2 FY27 and NSE filings dated 12 Oct 2026 (revenue, net income, margins, bookings, AI revenue, dividend, guidance, headcount, executive quotes). https://www.hcltech.com/investor-relations/quarter-results · https://nsearchives.nseindia.com/corporate/HCLTECH_12102026170757_InvestorRelease_5.pdf
- RBL Bank Limited — press release on unaudited results for the quarter ended 30 Sep 2026, filed with NSE on 12 Oct 2026. https://nsearchives.nseindia.com/corporate/RBLBANK_12102026164837_IntimationPressReleaseQ2FY2627Signed.pdf
- Reserve Bank of India — press release “RBI announces OMO Sale of Government of India Securities,” 9 Oct 2026 (₹25,000 crore, 13 Oct window 9:30–10:30 a.m., six ISINs). https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=63779
Not investment advice.
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