India Market Recap

Indian equity benchmarks snapped their two-day winning streak on Wednesday after the Reserve Bank of India (RBI) raised the repo rate and changed its monetary policy stance, in line with broad market expectations. The BSE Sensex declined 429.11 points, or 0.59%, to close at 72,638.70, while the Nifty 50 fell 173.05 points, or 0.76%, to 22,603.05. On the technical front, Nifty support is placed around 22,400–22,500, while resistance is seen in the 22,700–22,800 range.

US Market Recap

US equities came under pressure after the S&P 500 touched a fresh record high in the previous session, as rising crude oil prices and Treasury yields weighed on sentiment. The Dow Jones Industrial Average declined 341.41 points, or 0.66%, to close at 51,179.87. The S&P 500 fell 0.22% to 7,801.77, while the Nasdaq Composite declined 0.22% to 27,538.69. Investors remained focused on the impact of higher energy prices and bond yields on inflation and the Federal Reserve’s policy outlook.

Asian Market Update

The Asian stock markets remained in the bear territory for Thursday as well, as climbing brent rates fogged economic outlook and stoked inflation concerns among investors. Japan's Nikkei 225 was down 1% to 69,339.80, while the South Korean Kospi traded 1% lower at 6,731.75 as of 10:12 a.m. JST and 10:07 a.m. KST,respectively. Further, the Australian Securities Exchange S&P/ASX 200 fell 0.51% to 8,682.90. Overall, MSCI's Asia Pacific Index slipped 0.5%.

Commodity Check

Brent crude prices moved back above $101 per barrel on Thursday, October 8, reversing the previous session’s decline as reports of potential US military action against Iran revived concerns over disruptions to Middle East oil supplies. Brent was last trading at $101.16 per barrel, up 0.96%, after settling at $100.20 in the previous session. The latest move followed reports that the Trump administration had instructed the Pentagon to develop potential strike options against Iran that could be implemented before the US midterm elections. Any further escalation could increase uncertainty around regional oil flows and keep crude prices elevated.

Stocks In News

• HCLTech: Opens South Africa headquarters with an AI Centre of Excellence.
• Midwest: DGMS issues prohibitory order on Chimakurthy granite mine following slope-collapse incident; mineral extraction and employment prohibited at mine.
• 63 Moons Technologies: Arm 63SATS allots 8.1 crore shares on ZOFCD conversion.
• IRFC: Sets Oct. 23 as record date for interim dividend.
• Bharat Forge: Delhi HC dismisses Tarsem Jain's appeal; HC upholds May 2025 order setting aside arbitral award.
• Voltamp Transformers: Commences commercial production at Vadodara unit for manufacturing power transformers.
• Maharashtra Seamless: To demerge businesses into two subsidiaries, MSL Seamless Tubes and United Seamless; to allot one MSTL share for every five MSL shares held and one USL share for every five MSL shares held.
• One Point One: Gets in-principle nod to issue 15 lakh warrants convertible into shares.
• Tata Power: Partners with Norway's Ocean Sun to bring membrane-based floating solar technology to India; to pilot 300 kWp floating solar project in Maharashtra.
• Godrej Properties: BMC partners with company and RC Group to develop promenade at Bandra Bay.
• ASK Automotive: Rajasthan GST officials inspect Bhiwadi manufacturing unit on Oct. 6.
• Jain Resource: Approves reallocation of Rs 3.66 crore to general corporate purposes.
• Bhagyanagar India: Surendra Bhutoria ceases to be CFO.
• Sky Gold: Completes acquisition of Purvi Gems & Jewellery.
• MRF: Kerala tax body cuts tax demand to Rs 36 crore from Rs 91.5 crore.
• Torrent Power: Step-down arm Torrent Saurya Urja 2 terminates 300 MW wind PPA with SECI; to pay Rs 40 crore for termination.
• Ola Electric: Approves rights issue of 37 crore shares for Rs 1,000 crore at Rs 27 per share; sets Oct. 13 as record date for rights entitlement; rights issue to open from Oct. 22-30.
• TD Power: QIP issue opens; sets Rs 775.35 per share as floor price; may offer up to 5% QIP discount to floor price.
• Silver Touch: Gets Rs 50 crore order from ITI for supply of 80 enterprise servers for a defence project, with Indian Army as end customer; includes AMC for eight years; aggregate value over 11 years at Rs 49.67 crore.
• SJS Enterprises: To invest Rs 45 crore for capacity addition at Bengaluru unit, adding 20% to existing capacity; to be funded through internal accruals; current capacity utilisation at 75%.
• Jubilant Pharmova: Board to meet on Oct. 12 to consider raising funds via NCDs.
• Polyplex Corp: Arm Polyplex (Thailand) Public Co to set up project to add 12,000 MT/year capacity by installing 6.6-metre film line; current capacity at 98,045 MT/year and utilisation at 80%; project to be completed by Q4FY28 at an investment of nearly Rs 147 crore.
• Sun Pharma: Board to meet on Oct. 12 to consider raising Rs 15,000 crore.
• Alivus Life: Acquires 9.21% stake in Urja 19 SPV for Rs 14 crore.
• Federal Bank: Launches Verto Resident Savings Account.
• Fractal Analytics: Incorporates arm FRACTAL AI in Qatar.
• Sudarshan Chemical: Maharashtra GST body inspects company's offices and manufacturing units from Oct. 1-6; company says it extended full cooperation and assistance and sees no impact on financials or business operations.
• Standard Engineering: Clarifies disclosures related to arm GScale; says 4 lakh sq ft of data-centre infrastructure is held on lease and sub-lease signed for 2.73 lakh sq ft facility; to formalise remaining lease by Feb. 2027; says 486 MW and 1 GW+ track record belongs to leadership team and not the company.