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S&P 500, Nasdaq and Dow climb as Trump states US won't attack Iran
The S&P 500 gained 46.35 points to 7,811.71, while the Nasdaq Composite rose 172.83 points to 27,365.00 and the Dow Jones Industrial Average climbed 429.90 points to 51,661.54. Ross Mayfield of Baird noted tepid rallies as Donald Trump stated the US would not attack Iran. SpaceX agreed to acquire low-band spectrum, while Humana jumped and Delta Air Lines fell.
Nomura cuts PB Fintech net profit estimates by 72% for FY28 after insurance reforms
Nomura revised its financial model for PB Fintech following a consultation paper on insurance distribution reforms. The brokerage lowered premium estimates, assuming the company exits the POSP segment, and reduced net profit estimates by 72% for FY28 and 51% for FY29. Jefferies also cut its target price to Rs 1,540, forecasting a 44.6% upside from the last close.
Poonawalla Fincorp Q2FY27 net interest income jumps 80.6% YoY to Rs 1,380 crore
Poonawalla Fincorp reported Q2FY27 net interest income of Rs 1,380 crore, up 80.6% YoY from Rs 764 crore in Q2FY26. Operating profit reached Rs 877 crore, while gross non-performing assets declined by 39 basis points YoY. Managing director Arvind Kapil cited structural improvements and a proprietary AI layer. Shares ended Friday at Rs 447.30 on the NSE, with a market capitalisation of Rs 39,389.31 crore.
Anand Rathi Wealth reports Rs 121 crore Q2 profit despite market pressures
Anand Rathi Wealth reported a Q2 net profit of Rs 121 crore and H1 FY27 standalone profit of Rs 237 crore. Rakesh Rawal and Feroze Azeez noted record quarterly net inflows of Rs 4,186 crore despite market pressures. The firm achieved 52% of its full-year PAT guidance of Rs 460 crore while serving clients across 19 cities in India.
GQG Partners LLC reduces Adani Power stake as firm signs 770 MW Bhutan project
Adani Power filed a BSE disclosure stating entities and PACs, managed by GQG Partners LLC, sold shares, reducing their stake from 5.74% to 5.72%. The stock rose 0.53% to Rs 189. Additionally, Adani Power signed a shareholders’ agreement with Druk Green Power Corporation Ltd. to develop the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan starting in 2027.
Small-cap stocks account for around 50% of industry's funded amount, Nithin Kamath shares
On October 9, 2026, Nithin Kamath shared charts on X showing that small-cap stocks account for around 50% of the industry's funded amount. Large-cap stocks make up 32%, while mid-caps account for 18%. Data from NSE and AMFI shows small-cap stocks ranked 251–500 represent 20%, micro-caps 14%, stocks 751+ 15%, and non-listed stocks 4%.
Tata Asset MD Anand Vardarajan advocates combining active, passive funds and GIFT City opportunities
At the ET Alpha Wealth Summit 2.0 in Mumbai, Anand Vardarajan, MD & CEO of Tata Asset Management, discussed wealth management with Kshitij Anand. Vardarajan highlighted how rising US 10-year Treasury yields and inflation impact equity valuations. He advocated for combining active funds, passive funds (growing at 27%), SIFs (Rs 38,000 crore), and GIFT City opportunities to diversify portfolios.
Hexaware joins Anthropic’s Claude Partner Network to integrate AI into Zerovity and AgentVerse
Hexaware joined Anthropic’s Claude Partner Network as a Preferred Partner to develop AI solutions and enterprise deployments. Hexaware will integrate Claude into its Zerovity platform and AgentVerse, which has more than 600 pre-built agents. The company has over 1,100 Claude-certified professionals. Siddharth Dhar, Vinod Chandran, and Era Sahni highlighted the partnership's goal to help businesses deploy AI at scale.
Fortis Healthcare and Dr Agarwal’s jump as government discusses rationalizing medical device margins
The government is discussing rationalizing trade margins for medical devices and consumables to improve cancer treatment affordability. Following news of earlier oncology drug caps, Fortis Healthcare rose over 5% to Rs 805, while Dr Agarwal’s jumped 2% to Rs 478 on the BSE. Apollo Hospital, Manipal, Medanta, and Max Health also climbed. Jefferies recommends a Buy as regulatory uncertainty eases.
Cupid shares surge 657% in one year as company raises FY27 revenue guidance
Cupid shares rose to Rs 368 on the NSE, marking a 657% surge over one year. The company raised its FY27 revenue guidance to Rs 800 crore and net profit to Rs 250 crore, with Q2 FY27 revenue expected to cross Rs 200 crore. Plans include operationalising the Palava facility and expanding international healthcare through a proposed South African venture.
GQG-linked emerging markets fund sold nearly 37 crore ITC shares at Rs 257.35 apiece
GQG-linked emerging markets fund sold nearly 37 crore ITC shares at Rs 257.35 apiece on Wednesday, while Fidelity, ICICI Prudential Mutual Fund, and SBI Mutual Fund bought into the company. As of June 2026, GQG held a 3.12% stake. Shares hit a 52-week low of Rs 253.15 before jumping to Rs 259.60.
NCC shares rally 5% after order to construct Radial Road-2 over 18 months
On October 8, 2026, NCC received an order to construct Radial Road-2 from the Outer Ring Road near Budwel to Nacharam on NH-167N over 18 months. Shares rallied nearly 5% Friday despite a 40% yearly decline. The company has a Rs 7,515 crore market capitalisation. Promoters increased stakes to 23.19%, while FIIs reduced holdings to 10.44%.
Sensex falls 1,045.46 points as market wipeout hits ₹10 lakh crore
The BSE Sensex fell 1,045.46 points or 1.44% to 71,593.24, while the Nifty declined 371.25 points or 1.64% to 22,231.80 on Thursday. This wiped out ₹10 lakh crore in market capitalisation. Adani Enterprises fell 5.4%, JSW Steel dropped 4.5%, and ITC fell 4%. Nilesh Shah of Kotak Mahindra Asset Management Co. cited global issues as causes.
Trump claims US holding productive discussions with Iran as crude oil prices fall
On Thursday, Trump posted on Truth Social claiming the US is holding productive discussions with Iran and maintaining control of the Strait of Hormuz. Despite nine attacks reported by the UK Maritime Organization in early October, Brent crude fell 1% to $103 while West Texas Intermediate dropped 0.75% to $90.5. Goldman Sachs analyst Daan Struyven warned prices could hit $120.
Bank of England to replace famous Britons with Atlantic puffin on banknotes
The Bank of England (BoE) decided in March to replace famous Britons with native wildlife on banknotes to increase distinctiveness and deter counterfeiting. Following a public consultation where nearly 500,000 people voted on 18 animals in June, the BoE selected the Atlantic puffin. Chief cashier Victoria Cleland noted that cash usage fell below 10% in 2024, though UK Finance expects this decline to level off.
High forward premiums make hedging expensive for foreign investors as rupee hits 96.79
Kunal Sodhani of Shinhan Bank India noted that high forward premiums make hedging expensive for foreign investors. The one-year dollar-rupee forward premium rose from 7.40% to 8.65% before retreating to 8.45%. The Reserve Bank of India may have shifted focus on forward market dollar sales to cool premiums. The rupee closed at 96.79 against the dollar.
JM Financial leads market managing 26 transactions worth Rs 75,775 crore
According to Prime Database data, JM Financial led the market by managing 26 transactions worth Rs 75,775 crore during April-September. ICICI Securities ranked second with 21 deals worth Rs 73,310 crore, while SBI Capital Markets handled 11 transactions worth Rs 72,879 crore. IPOs and QIPs rose to 116 in H1 FY27 from 85 last year, increasing the amount raised from Rs 1.21 lakh crore.
Khambata defended Jane Street before tribunal over Sebi ex-parte order
Khambata defended Jane Street before a tribunal, arguing that the Securities and Exchange Board of India (Sebi) issued an ex-parte order requiring the firm to deposit money. Jane Street stopped trading in India after receiving 42 complaints. Khambata cited a 12-page note from August 30, 2024, claiming the firm engaged with NSE and Sebi to explain its hedging strategy.
American crude falls to $91 a barrel after Trump says US won't attack Iran
The MSCI Asia Pacific equities index fell 0.1% Friday as Japan’s Nikkei dropped over 1% and Softbank Group Corp. declined more than 5%. The Nasdaq 100 Index sank 1.4% while the S&P 500 Index dropped 0.5%. OpenAI revenue was reported at $50 billion, below estimates. Firmus Grid Ltd. will postpone its IPO. American crude fell to $91 a barrel after Donald Trump said the US would not attack Iran before the Nov. 3 midterm elections.
GQG trims ₹24,400 crore in Indian stakes including ₹9,395 crore in ITC shares
GQG, founded by Rajiv Jain, trimmed stakes worth around ₹24,400 crore in Indian companies during 2026. On October 8, it sold nearly 36.51 crore ITC shares worth around ₹9,395 crore. It also reduced Adani Group holdings by around ₹13,200 crore and added JSW Energy (₹1,941 crore) and JSW Steel (₹3,054 crore). The firm also sold stakes in Lodha Developers and ITC Hotels.
OpenAI revenue $20 billion below previous indications as Nasdaq 100 falls 1.9%
Financial Times reported OpenAI revenue was $20 billion below previous indications. The Nasdaq 100 fell 1.9%, S&P 500 declined 0.9% at 1:26 p.m., and the Philadelphia semiconductor index dropped 3.5%. Oracle shares fell as Bloomberg reported natural gas transport to data centres. Oil prices rose after the White House asked the Pentagon for military-strike options against Iran.
Nasdaq drops 341.59 points as FedWatch shows nearly 70% December hike probability
The S&P 500 fell 36.07 points to 7,765.70, while the Nasdaq Composite dropped 341.59 points to 27,197.10. The Dow Jones Industrial Average rose 45.68 points to 51,225.48. Terry Sandven of US Bank Wealth Management noted oil prices jumped 3.6% for WTI and 4.1% for Brent. Christopher Waller affirmed potential rate hikes as CME's FedWatch tool showed a nearly 70% December hike probability.
US Office of Government Ethics filing details 517 transactions by Trump
The US Office of Government Ethics published an 18-page filing detailing 517 transactions by Trump. He purchased Meta stock valued between $5 million and $25 million, Nvidia, Advanced Micro Devices, Tesla shares worth no less than $51,000, and stakes in Comcast, Netflix, Abbott Laboratories, ConocoPhillips, and Chevron. He also bought SpaceX notes on August 18 maturing July 2031.
54% of forum participants plan increasing U.S. investments despite Asia's stability appeal
Christian Nolting, Deutsche Bank Global Chief Investment Officer, surveyed the Emerging Markets Family Office Forum 2026 in Singapore with around 200 participants. Polls showed 37% cited rates/yields as risks, while 73% favored Asia for stability. However, 54% planned increasing U.S. investments and 30% planned increasing Asian allocations. Deutsche Bank private bank had assets under management of 732 billion euros ($819.77 billion) as of June 30.
Alliance Witan Plc sells 16.11 lakh shares in Rs 9,437 crore block deal
Alliance Witan Plc sold 16.11 lakh shares worth about Rs 41 crore, contributing to a block deal value of nearly Rs 9,437 crore. Fidelity Advisor Overseas Fund bought 13.4 crore shares for about Rs 3,448 crore. Other buyers included ICICI Prudential Mutual Fund, SBI Mutual Fund, and Nippon India Mutual Fund. HDFC Securities maintained an “Add” rating with a Rs 300 target price.
Foreign investors are withdrawing from Indian stocks
Foreign investors are withdrawing from Indian stocks, pushing the Nifty 50 toward its worst year in 15 years. Despite monsoon and Middle East conflict concerns, J.P.Morgan analysts led by Rajiv Batra forecast a 20% net profit rise for firms. Motilal Oswal predicts a 27% increase, while PhillipCapital expects 13%. Tata Consultancy Services begins the earnings season this Friday.
Infosys and Wipro ADRs fall after TCS reports Rs 13,884 crore net profit
Infosys ADRs fell 2.8% to $10.26 and Wipro ADRs dropped 2.5% to $1.63 after TCS reported a 15% year-on-year net profit rise to Rs 13,884 crore for the September quarter. JD Vance accused Microsoft of abusing the PERM programme, while Keith Sonderling announced suspensions for Cognizant, Infosys, Tata, Wipro, HCL Technologies, and Capgemini.
Mastek shares rise 3.28% as subsidiary wins Staffordshire County Council Oracle Cloud project
Mastek shares rose 3.28% to an intraday high of Rs 1,678.40 on the BSE, closing at Rs 1,652.35 with a market capitalisation of Rs 5,122.25 crore. The company's subsidiary, Mastek (UK) Limited, was selected by Staffordshire County Council to deliver an Oracle Cloud transformation programme using the ADOPT AI platform for finance, procurement, human resources and payroll.
ITC shares drop to Rs 257.30 as analysts note phased cigarette price increases
ITC shares opened at Rs 264 on the NSE, declining to Rs 257.30, with a market capitalisation of approximately Rs 3.25 lakh crore. SUUTI holds a 7.78% stake, while LIC holds 16.3%. HDFC Securities maintained an 'Add' rating with a Rs 300 target price. Analysts Nitin Gupta and Ishant Lalwani noted phased cigarette price increases to restore profitability by Q4FY26.
Adani Green falls 10% as Sensex crashes over 1,200 points to 52-week low
Adani Green Energy fell 10% to Rs 1,208, while Adani Enterprises declined 6.09% to Rs 2,576. Other stocks like Adani Power, Adani Ports and Special Economic Zone, and Adani Total Gas also dropped as the Nifty 50 hit a 52-week low and Sensex crashed over 1,200 points. This occurred after CARE Ratings upgraded Adani Enterprises to CARE AA; Stable.
Vedanta approves Rs 1,955 crore interim dividend as shares fall 2% to Rs 256
Vedanta approved a first interim dividend of Rs 5 per share, totaling Rs 1,955 crore. The record date is October 14, making October 13 the final purchase day due to Sebi T+1 norms. Following its demerger into five entities including VAML, Vedanta Power, Vedanta Oil and Gas, and Vedanta Iron and Steel, shares fell 2% to Rs 256.
Motilal expects Nifty earnings to grow 27% YoY despite steep profit declines
Motilal expects Nifty earnings to grow 27% YoY, led by banks and telecom. However, companies like Maruti Suzuki (19%), Hyundai Motor (22%), MRF (24%), and CEAT (69%) face profit declines. ACC (74%), Ambuja Cements (73%), and Dalmia Bharat (81%) also see steep drops. Dr Reddy’s Laboratories (60%) and Cipla (35%) face healthcare pressure despite 8% sector growth.
Vishal Nirmiti Ltd Rs 178 crore IPO receives 1.79 times subscription
Vishal Nirmiti Ltd launched a Rs 178 crore IPO from September 30 to October 5, 2026, receiving a 1.79 times subscription. The issue includes a Rs 145 crore fresh issue and a Rs 33 crore offer for sale. Saffron Capital Advisors Pvt Ltd managed the book-running while MUFG Intime India Pvt Ltd acted as registrar.
Domino’s India revenue rises 11.6% YoY to Rs 18,858 million in Q2
Jubilant FoodWorks reported a Q2 business update where Domino’s India standalone revenue rose 11.6% YoY to Rs 18,858 million with 4.1% LFL growth. Domino’s Eurasia saw -2.1% LFL growth after Ind AS 29 impacts. The company added 108 stores, totaling 3,820. Shares closed 2.42% higher at Rs 460.60 on the NSE. Market capitalization is around Rs 30,392 crore.
Senco Gold revenue exceeds Rs 5,000 crore as e-commerce sales jump 53%
Senco Gold reported Q2FY27 revenue grew 31% YoY, with retail revenue up 29% and e-commerce sales jumping 53%. H1FY27 saw total revenue grow 48% YoY, exceeding Rs 5,000 crore. The company opened six showrooms, reaching a 215-store network. Despite volatile gold prices rising 28% YoY, the firm expects strong Q3FY27 demand from weddings and festive calendars like Diwali.
Adani Enterprises shares fell 3.43% to Rs 2,648.80 on the NSE
Adani Enterprises shares fell 3.43% to Rs 2,648.80 on the NSE after CARE Ratings upgraded its long-term rating to ‘CARE AA; Stable’ from ‘CARE AA-; Stable’. The agency reaffirmed a short-term rating of CARE A1+. This reflects an equity raise of Rs 15,000 crore in July 2026 and a 5.54% stake sale in Adani Airports Holdings Limited for Rs 9,825 crore by July 2027.
Ola Electric board approves rights issue for amount not exceeding Rs 1,000 crore
Ola Electric Mobility board approved a rights issue for an amount not exceeding Rs 1,000 crore on October 7, following BSE and NSE approvals on October 6. The company will issue 37,02,72,665 partly paid-up equity shares at Rs 27 per share. The record date is October 13, 2026, with the issue opening October 22, 2026, and closing October 30, 2026.
Fundamentals Spot gold rises 0.4% to $4,127.40 as FedWatch shows 80% hike likelihood
Fundamentals Spot gold rose 0.4% to $4,127.40 per ounce by 0101 GMT on Wednesday as a firmer dollar and higher US Treasury yields weighed on the market. CME's FedWatch tool shows an 80% likelihood of a December rate hike. Kristalina Georgieva of the International Monetary Fund warned of global economic threats, while Perseus Mining chief executive noted difficult dealmaking due to volatile prices.
RBI draft norms could disrupt Rs 2 lakh crore products and impact MSMEs
RBI official Malhotra stated the regulator is studying feedback on draft norms issued August 6, which proposed NBFCs offer only term loans instead of revolving credit. The regulations could disrupt products worth more than Rs 2 lakh crore and impact MSMEs. While bank credit to NBFCs is robust at about 37%, Malhotra noted no current asset quality concerns.
CARE upgrades Adani Enterprises following Rs 15,000-crore placement and 5.5% stake sale
CARE upgraded Adani Enterprises on Wednesday, citing improved financial flexibility following a Rs 15,000-crore qualified institutional placement in July and a 5.5% stake sale in Adani Airports Holding Ltd at a Rs 1.67 lakh crore pre-money valuation. The upgrade factors in AEL profit expansion by FY27, Kutch Copper Limited stabilization, and Navi Mumbai International Airport Limited operations.
PL Capital upgrades PCBL to 'Buy' with ₹391 price target as supplies tighten
PCBL expects carbon black prices to strengthen as Russian refinery disruptions tighten supplies, aiding exports to the US and Europe. PL Capital upgraded the stock to 'Buy' with a ₹391 price target after it closed at ₹326.9 on the BSE. The company aims for ₹200-250 crore in savings and an Ebitda of ₹16,500-17,000 per tonne by FY27.
RBI reserves fall to $734.6 billion after four consecutive weeks of decline
Sanjay Malhotra reported that RBI reserves fell to $734.6 billion in the week ended October 2, marking four consecutive weeks of decline from a September 4 peak of $785.71 billion. Despite dollar sales and foreign exchange swaps to support the rupee, the currency fell nearly 0.5% to 96.8450 per dollar due to rising oil prices and overseas interest rates.
Sebi introduces credit risk-o-meter to categorize securities into six color-coded risk levels
Sebi introduced a credit risk-o-meter to categorize securities into six color-coded risk levels, from "lowest credit risk" for AAA-rated securities to "high to very high risk of default" for B+ to D ratings. The framework applies to all listed and proposed non-convertible securities, commercial papers, securitised debt instruments, security receipts, and structured debt or market linked debentures across public and private issues.
FPI selling peaked at ₹6,943 crore in financial stocks as investors eye Jio IPO
FPI selling peaked in financial stocks at ₹6,943 crore, up from ₹6,204 crore in the first half. Oil & gas and auto sectors saw sales of ₹4,469 crore and ₹3,542 crore respectively. Turakhia noted profit-taking in telecom after rerating, while analysts suggest investors may cut Bharti Airtel exposure to fund the upcoming Jio Platforms IPO. Other selling occurred in metal, consumer durables, and capital goods.
Investors pull $7 billion from emerging-market fixed-income assets as Fed raises interest rates
Non-resident investors pulled $7 billion from emerging-market fixed-income assets in September, the first net outflow since March. The Fed, led by Kevin Warsh, raised interest rates for the first time since 2023, causing US Treasury yields to rise. The IIF reported a $19.2 billion equity outflow from South Korea. Year-to-date equity outflows reached $113.9 billion compared to $27.3 billion last year.
Dow Jones falls 472.21 points as SpaceX drops after $40 billion financing request
The Dow Jones Industrial Average fell 472.21 points to 51,049.07, while the S&P 500 dropped 44.80 points to 7,775.04 and the Nasdaq Composite declined 235.16 points to 27,364.73. Brent crude rose above $100 a barrel. Micron Technology fell 2.3%, Nvidia slipped 0.7%, and SpaceX dropped 1.7% after the Financial Times reported a $40 billion financing request.
Nuvama Institutional Equities predicts AMFI will raise the largecap threshold to Rs 1.10 lakh
Nuvama Institutional Equities predicts AMFI will raise the largecap threshold to Rs 1.10 lakh crore and midcap to Rs 36,500 crore in H1 CY27. Stocks including Bosch (Rs 1.31 lakh crore), Siemens Energy India (Rs 1.19 lakh crore), Lodha Developers (Rs 1.13 lakh crore), Zydus Lifesciences (Rs 1.15 lakh crore), Lenskart Solutions (Rs 1.19 lakh crore), and LG Electronics India (Rs 1.19 lakh crore) could move to largecap. Additionally, the National Stock Exchange (NSE) (Rs 4.30 lakh crore) is expected as a new entrant.
Jefferies raises rate-hike expectation to 75-100 basis points, potentially boosting ICICI and Kotak Bank
Jefferies raised its rate-hike expectation to 75-100 basis points, potentially boosting earnings for ICICI Bank, Kotak Mahindra Bank, and PSU banks. While HDFC Bank and Axis Bank are mid-range beneficiaries, LIC Housing Finance, Bajaj Housing Finance, and Aditya Birla Capital may benefit from floating-rate assets. Conversely, SBI Cards faces vulnerability, while life insurers face pressure from a flattening yield curve.
NSE warns some overseas ETFs traded 65%-80% above net asset values in September
The NSE warned that some overseas ETFs traded 65%-80% above their net asset values in September due to supply constraints and exhausted regulatory investment limits. While the Nifty 50 fell 8% and Sensex fell 9%, the Nasdaq-100 gained 24%. AMFI data showed assets rose nearly 55% to 485 billion rupees in August 2026, while investor folios increased more than 40%.
Ola Electric board approves Rs 1,000 crore rights issue as Bhavish Aggarwal pledges stake
The board of Ola Electric approved a rights issue of up to Rs 1,000 crore at Rs 27 per share. Chairman and Managing Director Bhavish Aggarwal will subscribe to his full entitlement by pledging a 4.32 per cent stake. The company previously raised Rs 780 crore through a QIP in June 2026. Proceeds may reduce debt to reach cash breakeven.
Iraq sets new dollar exchange rate as market price jumps over 1,700 dinars
Iraq's Cabinet decided a new exchange rate to meet financial, economic, and monetary requirements. The Finance Ministry will sell dollars at 1,500 dinars, while consumers pay 1,520 dinars. Previously set in 2023, the official rate lagged behind market rates exceeding 1,600 dinars due to the US-Iran war and Strait of Hormuz shipping disruptions. Following the announcement, the market rate jumped to more than 1,700 dinars.
CARE Ratings upgrades Adani Enterprises to CARE AA following Rs 15,000 crore QIP
CARE Ratings upgraded Adani Enterprises (AEL) long-term ratings to CARE AA; Stable from CARE AA-; Stable, reaffirming short-term at CARE A1+. The upgrade follows a Rs 15,000 crore QIP in July 2026 and a 5.54% stake sale in Adani Airports Holdings Limited (AAHL) for Rs 9,825 crore by July 2027. Shares ended at Rs 2,743 on the NSE.
Satin Creditcare Network AUM hits Rs 16,600 crore as shares rally 60%
Satin Creditcare Network reported consolidated AUM of Rs 16,600 crore as of September 30, 2026, up 31% year-on-year. Standalone AUM reached Rs 13,600 crore, while Q2 FY27 consolidated disbursements hit Rs 3,697 crore. The company raised Rs 2,628 crore in debt, lowered borrowing costs to 10.28%, and expanded its branch network to 1,876. Shares rallied 60% over the past year.
Jefferies increases weight in Reliance Industries and Kotak Mahindra Bank; trims Eicher Motors
Jefferies increased weight in Reliance Industries, trading at 8.4 times one-year forward EV-to-EBITDA, and Kotak Mahindra Bank, trading at 1.8x FY27E price-to-adjusted book value. It added Welspun Corp, expecting over 30% EBITDA and EPS growth from FY26-29E. Conversely, the bank trimmed weight in Eicher Motors, Lodha Developers, and Godrej Properties. The report was written by Veer Sharma for THE ECONOMIC TIMES.
RBI unanimously votes to hike policy repo rate by 25 basis points to 5.50%
RBI Governor Sanjay Malhotra announced the Monetary Policy Committee unanimously voted to increase the policy repo rate by 25 basis points to 5.50%. The Nifty Bank index gained over 147 points to 55,276, while Nifty 50 fell around 100 points below 22,680. Kotak Mahindra Bank, Union Bank, Canara Bank, Punjab National Bank (PNB), Axis Bank, and SBI shares all gained.
RBI MPC unanimously votes to increase policy repo rate by 25 basis points
RBI Governor Sanjay Malhotra announced the Monetary Policy Committee unanimously voted to increase the policy repo rate by 25 basis points to 5.5%. The STF rate is 5.25%, while the marginal standing facility and bank rate are 5.75%. By December 31, 2026, SEBI-regulated depositories will include deposit accounts in consolidated statements. The RBI will also constitute a Technical Consultative Committee for Financial Markets.
Kalyan Jewellers reports 27% India revenue growth and 64% growth for Candere
Kalyan Jewellers released a provisional business update for Q2 FY27, reporting nearly 27% year-on-year India revenue growth and 20% same-store-sales-growth. International revenue grew around 18%, while Candere recorded nearly 64% growth. The company launched Akshaya Thanga Maligai (ATM) in Chennai, opened 12 showrooms in India, 9 Candere showrooms, and 1 UK showroom by September 30, 2026.
Titan international business surged 97% as CaratLane records 32% growth in Q2FY27
Titan reported Q2FY27 results showing 3,758 total stores by September 2026. Domestic business grew 22% year-on-year while international business surged 97%. Jewellery grew around 21%, with Tanishq, Mia, Zoya, and beYon recording 20% growth, while CaratLane grew 32%. Watches grew around 30% and EyeCare reported 28% growth. Nomura retained a Buy rating with a Rs 5,425 target price.
Utkarsh Small Finance Bank Q2 FY27 disbursements surge 55% to Rs 3,525 crore
Utkarsh Small Finance Bank reported Q2 FY27 disbursements of Rs 3,525 crore, a 55% surge from Rs 2,275 crore in Q2 FY26. Non-JLG loans reached Rs 2,602 crore, while JLG loans were Rs 923 crore. Deposits rose to Rs 23,869 crore, with CASA at Rs 5,121 crore and retail term deposits at Rs 14,442 crore. Market capitalization is nearly Rs 2,406 crore.
Nvidia Corp. approaches $6 trillion market value as SpaceX reportedly seeks $40 billion
MSCI’s Asia Pacific equities gauge edged up 0.1% as South Korean shares rose 0.2%. This followed record closes for the S&P 500 and Nasdaq 100 Index. Nvidia Corp. approached a $6 trillion market value while SpaceX reportedly sought $40 billion to buy chips. Brent rose 0.8% above $101 a barrel. Goldman Sachs Group Inc. strategist Ben Snider expects companies to surpass earnings estimates.
Feroze Azeez expects Nifty 50 earnings per share to rise to ₹1,240 by FY27
Feroze Azeez of Anand Rathi Wealth expects Nifty 50 earnings per share to rise to ₹1,240 from ₹1,088 in FY27. Duggad projects 15-16% earnings growth over FY26-28 for covered companies and a 24% year-on-year growth for the MOFSL Universe. While Dr Reddy's Labs and Cipla face revenue drops, metals and capital goods remain optimistic despite input costs.
3.27 million new demat accounts added despite Sensex and Nifty falling 6%
In August, 3.27 million new demat accounts were added, bringing the total to 240.59 million by September. Despite Sensex and Nifty falling 6% in September, Master Capital Services chief research officer Ravi Singh noted continued growth. Strong IPO activity saw 69 IPOs raise ₹90,462 crore. WealthMills Securities strategist Kranthi Bathini attributed this to high listing gains and the Jio brand.
The rupee reached its weakest closing level in over two months at 96.45
The rupee reached its weakest closing level in over two months at 96.45, despite potential intervention by the Reserve Bank of India. High dollar demand from oil companies and a $2.4 billion withdrawal by foreign portfolio investors in October contributed to losses. So far this year, net FPI investments totaled $24.4 billion as markets await a 25 basis points rate hike.
Gold loans surge 69.1% as NBFC credit grows to Rs 60.6 lakh crore
NBFCs' overall credit grew 15.8% year-on-year to Rs 60.6 lakh crore by August end. Gold loans surged 69.1% to Rs 3.65 lakh crore, while consumer durable loans jumped 56.4% to 77784 crore. Housing loans grew 12.1% to Rs 8.62 lakh crore. Retail loans reached 26.5 lakh crore, accounting for nearly 44% of lending. Agriculture credit grew 17.4%, while industry credit rose 8.4% in August 2026.
IRDAI proposed commission limits could slash broker revenue by 60-70%
The IRDAI proposed prescriptive commission limits and lower expense-of-management limits, potentially impacting the Alliance Insurance Brokers stake sale and InsuranceDekho-RenewBuy IPO. Broker-sourced premiums grew 37% between FY23 and FY25 while commissions surged 173%. Experts warn revenue could decline 60-70% for some brokers. The regulator invited stakeholder comments until October 25 to determine the final impact on valuations.
ICRA projects 7% GDP growth for India in FY27 despite weak monsoon risks
ICRA projected 7% GDP growth for India in FY27, expecting moderate monetary policy tightening. Director Nikita Anand warned that weak monsoons could stress unsecured segments like self-employed borrowers and micro and small enterprises, impacting rural bank loans. While private investment improved in data centres and semiconductors, Vishut Rana noted strong economic activity despite headwinds. Crisil projected 5.1% inflation for FY27.
Private-credit deal volume drops 54% to $4.6 billion in first half of 2026
A report by Houlihan Lokey showed 67% of private-credit deal volume in the first half of 2026 was priced below 18%. Deployment reached $4.6 billion across 144 deals, down 54% from 2025's $15.6 billion. Aakash Desai of 360 ONE noted managers seek a "complexity premium." New rules in July 2026 and February liberalization expanded borrowing options for Indian borrowers.
Fed to establish five geographic supervisory regions to improve accountability
Michelle Bowman, Fed Vice Chair for Supervision, announced the central bank will establish five geographic supervisory regions led by new regional leaders to improve accountability. Since 2025, she has overhauled regulations for large banks, streamlining committees and proposing a mechanism to update fixed-dollar asset thresholds every five years. This change aims to address inflation while allowing banks more room to expand before triggering stricter rules.
Brent crude to average $98 a barrel in 2026 as US-Israeli war disrupts shipments
The EIA's latest Short-Term Energy Outlook projects global benchmark Brent crude to average about $98 a barrel in 2026, an 8% increase. Prices surged as the US-Israeli war with Iran disrupted shipments through the Strait of Hormuz, which handled about 20% of global oil supplies. Brent is forecast to average about $105 a barrel in the fourth quarter and $84 a barrel in 2027.
Kalshi seeks CFTC approval for perpetual futures tracking US 500 index and crude oil
Kalshi filed plans with the Commodity Futures Trading Commission in August to offer perpetual futures tracking the US 500 index. CEO Tarek Mansour stated this allows leveraged long or short positions without expiration dates. The company is also seeking regulatory approval for a West Texas Intermediate crude oil contract as it expands beyond cryptocurrency and metals into a full-service financial exchange.
S&P 500 software index hits highest level since November 2025 on triple-digit gains
The S&P 500 software and services index rose 1.3% on Tuesday to its highest level since November 2025, recording its biggest quarterly gain since the second quarter of 2020. Strong results from Salesforce, ServiceNow, and Accenture drove recovery. CrowdStrike, Fortinet, and Palo Alto Networks posted triple-digit gains. LSEG data shows projected earnings growth rose to 20.6%.
Jefferies adds Kotak Mahindra Bank to model portfolio, increases weight on Reliance Industries
Jefferies added Kotak Mahindra Bank to its model portfolio and increased weight on Reliance Industries (RIL) to overweight, while trimming exposure to NBFCs, real estate, and consumer discretionary stocks like Eicher. The brokerage raised largecap weights as global yields rose. It expects the Reserve Bank of India to raise rates by 50–75 basis points at its October 2026 meeting.
Gold peaked at US$5,595/oz before correcting to US$4,138/oz due to stronger US dollar
Gold peaked at approximately US$5,595/oz in January 2026 before correcting to US$4,138/oz due to higher US Treasury yields and a stronger US dollar. Tata Mutual Fund stated structural drivers like central bank buying—projected at 700-900 tonnes for 2026—and China's record 1,000 tonnes of imports support gold. Silver faces a sixth consecutive year of supply deficit despite industrial demand and China’s refining influence.
Mutual funds increase holdings in 11 Nifty Microcap 250 companies through June 2026
Mutual funds increased holdings in 11 companies from the Nifty Microcap 250 over two quarters through June 2026. Stocks included Electronics Mart India (Rs 122 to Rs 205), Sky Gold and Diamonds (Rs 533 to Rs 826), Bluestone Jewellery And Lifestyle (Rs 546 to Rs 791), Sudarshan Chemical Industries (Rs 882 to Rs 1,229), Timex Group India (Rs 528 to Rs 735), Axiscades Technologies (Rs 1,703 to Rs 2,282), Shadowfax Technologies (Rs 226 to Rs 289), Vedant Fashions (Rs 408 to Rs 521), Fujiyama Power Systems (Rs 323 to Rs 412), and Pearl Global Industries (Rs 1,008 to Rs 1,267).
Jane Street accused of deflecting stock price manipulation in NSE Nifty Bank Index
Gaurav Joshi, representing the Securities and Exchange Board of India (SEBI), argued in court Tuesday that Jane Street is attempting to deflect accusations regarding alleged stock price manipulation in the NSE Nifty Bank Index. Following a July 3, 2025 interim order, the firm was banned from trading and ordered to seize 48.4 billion rupees ($503 million) of alleged unlawful gains.
Molbio projects 50% CAGR for PAT as it expands into digital imaging
Molbio utilizes its Truenat platform, featuring 12,500+ devices across 90+ countries, to offer 43 assays for 30 diseases. Motilal Oswal reports that 75% of revenue comes from test kits, projecting a 23% CAGR for revenue and 50% CAGR for PAT during FY26-29. The company is expanding into digital imaging via Prognosys and OptraSCAN. The target price is Rs 1,800.
Nomura expects RBI 50-basis-point rate hike cycle to hit NBFC earnings by 1-8%
Nomura expects the RBI to initiate a 50-basis-point rate hike cycle starting October 2026, potentially hitting NBFC earnings by 1-8% in FY27. While Motilal Oswal warns of rising costs from geopolitical uncertainties and inflation, Nuvama Institutional Equities suggests liquidity may cushion small lenders like Aye Finance. Preferred picks include Bajaj Finance, Tata Capital, and HDFC Bank.
Vedanta announces first post-demerger dividend payout with October 14 record date
Vedanta announced a dividend record date of October 14 in a Monday filing, making October 13 the final purchase day. Following its June demerger into five entities including VAML, Vedanta Power, Vedanta Oil and Gas, and Vedanta Iron and Steel, this is the first post-demerger payout. Sunny Agrawal of SBI Securities noted dividends will now be more volatile and cycle-dependent.
Honasa Consumer targets early double-digit operating margin by Q2 FY27 as shares gain 60%
Honasa Consumer expects net sales value growth in the early thirties year-on-year. Its largest brand, Mamaearth, expects high-teens growth, while younger brands expect mid-forties growth. The company aims for an early double-digit operating margin in Q2 FY27. Currently, shares have gained around 60% over the past year, with a market capitalisation of Rs 14,638 crore and a 52-week high of Rs 509.80.
Rentomojo debuts on Dalal Street at 19% premium despite Q1 profit dip
Rentomojo, an India-based D2C rental platform, debuted on Dalal Street Thursday at a 19% premium over its Rs 404 issue price. The stock opened at Rs 482.45 on the NSE and Rs 480 on the BSE. The IPO was subscribed 73 times overall, with Q1 net profit dipping nearly 39% to Rs 8 crore from Rs 13 crore.
Adani Power and DGPC to form public company for 770-MW Bhutan hydropower project
Adani Power and Druk Green Power Corporation (DGPC) will jointly incorporate a public company in Bhutan for the 770-MW Chamkharchhu-I Hydropower Project. Under a BOOT model, they will hold a 49:51 shareholding with a 30-year concession. Construction begins in the first half of 2027. The project supports a 5,000-MW MoU and follows the 570-MW Wangchhu agreement signed in September 2025.
Sugar stocks soar as Government caps dealer holdings at 1,000 quintals to curb hoarding
Balrampur Chini Mills rose over 6% to Rs 714, while Dhampur Sugar Mills gained 8% to Rs 192. Uttam Sugar hit Rs 310, Triveni Engineering reached Rs 249, and Eid Parry rose over 3% to Rs 711. The Government capped dealer stocks at 1,000 quintals for 15 days from October 15 to November 30, 2026, to curb hoarding.
SRIT India IPO subscribed 125.16 times, lists at Rs 139.8
SRIT India launched a Rs 218.40-crore IPO from September 28 to September 30, 2026, with Choice Capital Advisors Pvt. Ltd. as lead manager and KFin Technologies Ltd. as registrar. Subscribed 125.16 times, shares listed on October 6 at Rs 139.8. The company will use Rs 136.86 crore for capital expenditure, working capital, and inorganic growth.
Nomura: Sterlite Technologies to invest Rs 3,000 crore for optical fibre supercycle
Nomura stated Sterlite Technologies is well-positioned to benefit from a multi-year optical fibre cable supercycle. The company plans to invest Rs 3,000 crore over FY27-29 to expand capacity by 50%. Following a Rs 1,500 crore QIP in July 2026, revenue and EBITDA are forecast to grow at CAGRs of 50% and 89% respectively over FY26-29F.
Kotak Mahindra Bank reported Q2 FY27 net advances of Rs 5.77 lakh crore
Kotak Mahindra Bank reported Q2 FY27 net advances of Rs 5.77 lakh crore, a 25% YoY increase from Rs 4.63 lakh crore. Total deposits reached Rs 6.51 lakh crore, including $5.78 billion in FCNR(B) deposits. Anup Kumar Saha was appointed Managing Director and CEO for three years starting January 1, 2027, succeeding Ashok Vaswani, who leaves on December 31, 2026.
Jane Street tells court NSE Nifty Bank Index stocks moved independently of its trading
Jane Street told a court on Monday that NSE Nifty Bank Index stocks moved independently of its trading. The firm seeks information from the Securities and Exchange Board of India regarding an investigation into alleged price influence. Following a July 2025 order seizing 48.4 billion rupees ($503 million), lawyer Darius Khambata argued for natural justice before the next Oct. 6 hearing.
G7 agrees to release 100 million barrels of diesel and crude after Trump pressure
On Friday, G7 countries agreed to release 100 million barrels of diesel and crude from emergency reserves and pledged no export restrictions following pressure from Donald Trump. On October 6, Brent crude rose 20 cents to $100.54 while US West Texas Intermediate rose 12 cents to $89.50. Meanwhile, Houthis attacked Saudi Arabia targets including King Khalid International Airport, an Aramco refinery, and Abha airport.
82% of Indian loans under Rs 2 lakh as NBFC relationships hit 11 crore
As of June 2026, nearly 97% of Indian loans were below Rs 10 lakh, with 82% under Rs 2 lakh. NBFCs accounted for 47% of these originations. Bhavesh Jain of TransUnion CIBIL reported a 52% cure rate for credit-monitoring borrowers. Raman Aggarwal of FIDC noted that 11 crore borrowers had active NBFC relationships as outstanding balances increased more than fivefold.
5 HFCs seek more funding from NHB and finance ministry to reduce bank reliance
LIC Housing Finance, Bajaj Housing Finance, PNB Housing Finance, Aadhar Housing Finance, and TruHome Finance sought more funding from the NHB and finance ministry to reduce bank reliance. The NHB disbursed ₹32,308 crore in refinance by June 2025. HFCs held ₹7.44 lakh crore in outstanding loans by July 2026, representing 18.6% of the ₹40.07 lakh-crore market.
Currency opens 10 paise up as traders await RBI policy rate hike to 5.5%
The currency opened 10 paise up at 96.2150 a dollar, supported by an overnight drop in Brent crude prices. After depreciating half a percent last week, it traded in a narrow 10 paise band as traders await the Reserve Bank of India monetary policy on Wednesday. The committee is expected to tighten the policy rate by 25 basis points to 5.5% from 5.25%.
Jio Platforms plans IPO by October 30 to prepay up to ₹27,500 crore borrowings
Jio Platforms plans to launch an IPO by October 30, issuing up to 270 million new equity shares at a ₹1,150-1,220 price band. After receiving Securities and Exchange Board of India (Sebi) approval on August 28, the company aims to prepay up to ₹27,500 crore in Reliance Jio Infocomm Ltd (RJIL) borrowings. Major investors include Meta Platforms, Google International, and Saudi Arabia's Public Investment Fund.
PB Fintech stock falls to ₹980 following Irdai proposal on commission caps
PB Fintech stock fell 0.3% to ₹980, its November 2021 IPO price, following a Insurance Regulatory and Development Authority of India (Irdai) consultation paper on September 23 proposing distributor commission caps. Over seven sessions, market capitalisation dropped from around ₹87,290 crore to ₹45,174 crore, representing a loss of over 48%. The stock reached this level last seen on February 16, 2024.
Outstanding CDs fell by ₹1.306 lakh crore as year-on-year growth slowed to 11.5%
RBI data shows outstanding CDs fell to ₹5.60 lakh crore by September 15 from mid-August's ₹6.90 lakh crore, a ₹1.306 lakh crore decline. Year-on-year growth slowed to 11.5% from 28.4%. System liquidity peaked at ₹11.2 lakh crore in early September as banks swapped dollars for rupees. Vineet Jain of Care Ratings, Prateek Ancha of Axis Securities, and Prakash Agarwal of Geofin Capital noted the impact on rates and funding costs.
Schneider to acquire PTC for 42% premium, plans €17 billion debt financing
Schneider agreed to acquire PTC, a Boston-based company employing 7,000 people and serving 30,000 customers. The deal includes a 42% premium over the most recent share price. To finance this, Schneider plans to take on up to €17 billion ($19 billion) in debt and issue €6 billion in new shares. PTC Chief Executive Neil Barua stated the acquisition accelerates innovation.
French government bonds faced pressure as the yield spread against German Bunds widened
French government bonds faced pressure as the yield spread against German Bunds widened to nearly 160 basis points, then narrowed to 137. Erik Bregar of Silver Gold Bull noted market rejection of the 2027 budget. The euro fell to $1.1211 after a 3.1% weekly decline. Meanwhile, Sanae Takaichi pledged to control bond issuance as the dollar rose to 102.16.
PTC surges 34.6% after Schneider Electric agrees to $22.6 billion acquisition
The Dow Jones Industrial Average fell 32.46 points to 51,144.50, while the S&P 500 rose 35.44 points to 7,758.16 and the Nasdaq Composite climbed 189.48 points to 27,380.34. PTC surged 34.6% after Schneider Electric agreed to a $22.6 billion acquisition. RXO jumped 22.5% following a $5.8 billion deal by C.H. Robinson Worldwide. Cerebras Systems gained 9.5% after Sam Altman of OpenAI praised the firm.
ICICI veteran Anup Bagchi joins HDFC Bank as MD & CEO for three-year term
Anup Bagchi, an ICICI Group veteran, joined HDFC Bank as MD & CEO for a three-year term starting October 2. This follows Sashidhar Jagdishan's decision not to seek reappointment. Jefferies maintained a Buy rating with a Rs 880 target price, while Morgan Stanley set a Rs 1,025 target and Citi set a Rs 970 target.
Yes Bank reports Rs 3.1 lakh crore in loans as shares fall 8% monthly
Yes Bank reported loans and advances of Rs 3.1 lakh crore in Q2 FY27, a 23.8% year-on-year growth from Rs 2.5 lakh crore in FY26. Deposits rose 19.5% YoY to Rs 3.54 lakh crore. The Credit to Deposit Ratio reached 87.5%. Shares fell over 2% weekly and 8% monthly, while market capitalisation exceeded Rs 65,130 crore.
Nykaa shares gain 41% over a year to reach Rs 95,938 crore market cap
Nykaa reported that FSN E-Commerce Ventures shares gained around 41% over the past year, reaching a market capitalisation of Rs 95,938 crore. For the quarter ended September 30, 2026, consolidated GMV growth is expected in the high 20s. The company added 14 net-new stores to reach 338 total stores while adding more than 250 brands across categories.
V2 Retail Q2 FY27 revenue hits Rs 905 crore, up 28.4% YoY
V2 Retail reported Q2 FY27 standalone revenue of Rs 905 crore, a 28.4% YoY increase from Rs 705 crore in Q2 FY26. While calendar-based same-store sales growth was -14.9%, festival-normalised growth was 0.5% due to Navratri and Durga Puja shifting to Q3 FY27. Monthly sales per square foot reached Rs 700, with 106 of 427 stores opened in the first half of FY27.
