India Market Recap

Indian equity benchmarks ended lower on Monday, weighed down by selling pressure in FMCG, IT, PSU banks and Oil & Gas stocks. Gains in Auto, Pharma and Realty shares provided limited support. The BSE Sensex declined 547.65 points, or 0.76%, to close at 71,924.68, while the Nifty 50 fell 157.10 points, or 0.70%, to 22,363.35. On the technical front, Nifty support is placed around 22,300–22,200, while resistance is seen in the 22,425–22,500 range.

US Market Recap

US equities remained largely subdued on Monday as investors assessed rising crude oil prices and positioned themselves ahead of a busy week of corporate earnings and inflation data. Following a positive finish to the previous week, market participants looked for fresh catalysts to sustain the rally. S&P 500 futures slipped around 0.1%, while Nasdaq-100 futures declined 0.2%. Dow Jones Industrial Average futures edged up 17 points. Earnings announcements, inflation trends and geopolitical developments remain key factors influencing market sentiment.

Asian Market Update:

Asian markets declined on Tuesday, tracking weakness on Wall Street as losses in US semiconductor stocks weighed on sentiment ahead of the corporate earnings season. The MSCI Asia Pacific Index fell 0.3%, while South Korea’s Kospi dropped 3.29% at the open and the small-cap Kosdaq declined 2.49%. Japan’s Nikkei 225 fell 1.20%, while the broader Topix remained flat. Australia’s S&P/ASX 200 slipped 0.33%. Investors remained cautious amid technology-sector weakness and elevated geopolitical risks.

Commodity Check

Brent crude prices eased 0.50% to $106.13 per barrel on Tuesday but remained near $106, holding on to recent gains. The decline followed three consecutive sessions of advances, including a sharp rally on Monday. Escalating tensions in the Middle East and continued attacks on energy infrastructure amid the Russia-Ukraine conflict have kept concerns over global oil supplies elevated. Markets will continue to monitor geopolitical developments and potential supply disruptions, as persistently high crude prices could add to inflationary pressures and weigh on oil-importing economies such as India.

Stocks In News

• Azad Engineering: Gets Rs 53 crore order from BHEL for the supply of critical stator vanes and rotor blades (airfoils) for gas turbines.
• BlackBuck: To transfer Loads business undertaking to arm BlackBuck Transport Services.
• Tata Motors: Arm Tata Motors Passenger Vehicles signs definitive technology agreement with Stellantis to provide vehicle architecture.
• HCLTech: Signs global premier partnership with Anthropic to scale agentic AI across enterprises. To set up Anthropic Business Unit and Centre of Excellence for Claude.
• CreditAccess Grameen: Signs $175 million syndicated social loan facility through ECB.
• Maruti Suzuki: NCLAT matter will not be taken up on Nov. 2. Next hearing date to be notified.
• LIC: To launch three new products from Oct. 19: LIC's New Jeevan Dhara-II, LIC's Health Shield and LIC's New Cancer Cover.
• Karur Vysya Bank: Enters into a pact with Zurich Kotak General Insurance for the distribution of general insurance products.
• SML Mahindra: Pushkar Patwardhan resigns as CFO from Oct. 19. Appoints Manaswini Goel as CFO until Dec. 31 and Surender Kalra as CFO from Jan. 1.
• GSP Crop Science: Pranav Chitre resigns as CFO from Oct. 30.
• Karnataka Bank: Launches digital platform Trade Konnect for import, export and outward remittance transactions.
• Aequs: Signs long-term supply pacts with Safran for aerospace applications.
• Bank of India: Declares Rs 575 crore NPA of Future Enterprises as fraud.
• IRCON International: Gets Rs 862 crore EPC order from East Central Railway.
• Lords Mark: Completes acquisition of Radio Electric.
• Crompton Greaves: Launches InstaNourish Pro multi-purpose kettle.
• Zydus Lifesciences: Presents new Saroglitazar trial analysis at ACG 2026. Analysis compares treatment response in US versus non-US patients. EPICS-III study conducted in PBC patients with inadequate response or intolerance to UDCA. Saroglitazar remains an investigational drug and is not yet approved by the US FDA.
• REC: Subsidiary RECPDCL transfers two power transmission SPVs to successful bidders. Ceigall India acquires Jam Khambhaliya Jamnagar Power Transmission, while Power Grid Corporation acquires Lakadia II Power Transmission. Transfer includes 100% stake along with all assets and liabilities of both SPVs.
• Orkla India: Calls Farmley acquisition report speculative. Company evaluates various strategic opportunities; no definitive proposal on Farmley acquisition exists.
• Nazara Technologies: Rakesh Shah resigns as CFO from Oct. 15. Appoints Arun Agrawal as CFO from Oct. 16. To invest Rs 742 crore in arm Nazara Technologies UK. Allots 2.39 crore shares at Rs 306/share on a preferential basis, raising Rs 731 crore. Rohit Sharma resigns as whole-time director effective Jan. 11, 2027. Approves conversion of Rs 129.35 crore loan into equity of Smaaash Entertainment and Rs 294.4 crore loan into equity of Nazara Technologies UK. Nitish Mittersain redesignated as founder and non-executive director from managing director, effective Oct. 12, 2026.
• Bajaj Healthcare: Signs deed to sell Dahej undertaking, located at Dahej GIDC, Bharuch, Gujarat.
• A-One Steels: Gets GST registration certificate for Maharashtra warehouse.
• Indian Overseas Bank: Revises marginal cost of funds-based lending rates. One-month MCLR remains unchanged at 8.25%. One-year MCLR revised to 8.90% and three-year MCLR to 8.95%. Revised rates effective from Oct. 15, 2026.
• Elitecon International: Board approves raising Rs 1,000 crore via QIP.
• Indian Bank: Board to meet on Oct. 15 to consider fund-raising plan.
• Bombay Burmah Trading: Tamil Nadu Forest Department issues notice to company relating to the Singampatti tea estate matter. Company invited to file objections and granted an opportunity for a hearing.
• SAMHI Hotels: Arm Duet India gets commencement certificate from MIDC for Navi Mumbai project.
• Ventive Hospitality: To appeal Point 22 of NCLT order in merger scheme case, seeking relief.
• Vikran Engineering: Arm NOPL secures Rs 2,941 crore IREDA loan for the group's 969 MW solar project. Loan supports a Rs 4,202 crore solar project.
• PTC India Financial: CEO and MD Rajiv Malhotra's tenure extended by one year.
• TD Power Systems: QIP closes; issue price set at Rs 775/share.
• Cohance Lifesciences: Government approves appointment of Umang Vohra as chair and group CEO.
• L&T Finance: Allots 80,000 NCDs worth Rs 800 crore on a private placement basis.
• Sun Pharma: Approves issuance of NCDs worth Rs 10,000 crore.
• EID Parry: Appoints Vijay Sivaraman as chief technology officer.
• Goodluck India: Emerges as sole bidder for 155 mm shell supply to Munitions India.
• Transport Corporation of India: Buyback opens on Oct. 15 and closes on Oct. 22.
• Juniper Green Energy: Fully commissions 150 MW hybrid project. Operational capacity reaches 2,745 MWp and 603 MWh of BESS.
• Power Grid: Acquires Lakadia C Power Transmission for Rs 19.9 crore and Jam Khambhaliya REZ Transmission for Rs 19.2 crore.
• Panama Petrochem: CARE revises outlook on long-term bank facilities to Positive from Stable.