India Market Recap

Indian equity benchmarks ended lower on Wednesday, weighed down by selling pressure in Pharma and Financial stocks. The BSE Sensex declined 251.89 points, or 0.34%, to close at 72,781.89, while the Nifty 50 fell 99.25 points, or 0.44%, to 22,622.70. The Bank Nifty also slipped 165.05 points, or 0.30%, to settle at 55,316. On the technical front, Nifty support is placed around 22,400–22,475, while resistance is seen in the 22,750–22,800 range.

US Market Recap

US equities came under pressure on Wednesday after consumer inflation rose at its fastest pace since April, pushing bond yields higher and intensifying concerns over the Federal Reserve’s interest-rate outlook. The Nasdaq Composite declined 1.88% to close at 26,692.87, while the S&P 500 fell 1.11% to 7,718.94. The Dow Jones Industrial Average slipped 0.09%. Persistent inflation concerns have increased uncertainty around borrowing costs, weighing particularly on technology stocks and other rate-sensitive sectors.

Asian Market Update

Asian markets declined sharply on Thursday, tracking Wall Street’s technology-led sell-off amid concerns over persistent inflation and the possibility of higher US interest rates. South Korea’s Kospi plunged 5.72%, while Japan’s Nikkei 225 fell 3.11%. Australia’s S&P/ASX 200 declined 0.45%, while Hong Kong’s Hang Seng Index and China’s Shanghai Composite remained largely unchanged. Semiconductor stocks led the regional losses as investors reassessed the sustainability of AI-related spending amid rising borrowing costs. SK Hynix fell more than 8%, while Samsung Electronics declined 7.1%. Concerns that higher financing costs could constrain investment in AI infrastructure added to pressure on technology companies that have benefited from the sector’s investment boom.

Commodity Check

Brent crude traded near $106 per barrel on Thursday as escalating hostilities in the Middle East and Eastern Europe heightened concerns over global energy supplies. A container ship sank in the Strait of Hormuz on Wednesday after being struck by unidentified projectiles, while Iran-backed Houthi forces continued missile and drone attacks across Saudi Arabia. Reports of oil tankers avoiding their usual loading areas further highlighted the risk of disruptions to regional exports. Meanwhile, Russia accused Ukraine of striking two oil refineries, including the 400,000-barrel-per-day Ryazan facility, despite an energy ceasefire announced by US President Donald Trump. In the US, American Petroleum Institute data showed crude inventories fell by 11.1 million barrels last week, marking the steepest decline since June 2025. Geopolitical tensions, shipping disruptions and falling inventories continue to support crude prices and pose risks to global inflation.

Stocks In News

• IDBI Bank: Government Approves Strategic Restructuring of Bank. Fairfax's Winning Bid at Rs 81/Share. Benchmark Price Fixed at Rs 75.99/Share Based on Two Independent Valuations. Initial Bids Rejected After Failing to Meet Rs 94.42/Share Reserve Price. Government's Residual 15% Stake to Be Sold Through Open Market; LIC Can Manage Its 19% Stake Independently.
• Shriram Finance: Denies Reports of MUFG Taking Majority Control Stake. Stake Report Based on Speculation.
• Lloyds Metals: To Raise Rs 3,000 Cr via NCDs and $130 Mn via Dollar-Denominated Notes.
• IFGL Refractories: Terminates Marvel JV Agreement After Marvel Did Not Infuse Capital. Company Retains 100% JV Stake.
• Hyundai Motor: Inaugurates Manufacturing Unit in Talegaon, Pune. To Invest Up to Rs 11,000 Cr at Pune Plant in Phases. Current Annual Production Capacity at 1.7 Lakh Units; To Expand Capacity to 3.2 Lakh Units by 2030.
• Enviro Infra: Gets EPC Order Worth Rs 228 Cr from Arie Energy for Development of 100 MW Ajani Wind Power Project. Order to Be Executed by July 2027.
• Servotech Renewable: Two Company Employees Arrested in Rs 2-2.5 Cr Fraud Probe.
• Godavari Biorefineries: Patent Application Titled '5-Hydroxy-1,4-Naphthalenedione' for Cancer Treatment Granted.
• NLC India: Arm Wins Bid for Hooghly 50 MW/200 MWh BESS Project.
• Mphasis: Income Tax Department Revises Tax Demand to Rs 2,418 Cr from Rs 2,287 Cr. Gets Rectification Order from Bengaluru Tax Body.
• Morepen Laboratories: Gets Rs 118 Cr Tax Relief from Himachal High Court Against Shimla GST Body.
• Gujarat Energy: Gives Rs 324 Cr Dividend to Gujarat Government for FY26, Its Highest-Ever Dividend to the State Government.
• RIL: Jio Platforms Files RHP with RoC. IPO to Open on October 21 and Close on October 23. Anchor Bidding on October 19. Price Band Set at Rs 1,065-1,119/Share, with Floor Price at Rs 1,065/Share. To Offer Rs 54/Share Employee Discount. Bid Lot of 12 Equity Shares; Face Value of Rs 10. Fresh Issue of 27 Cr Shares.
• Bluestone Jewellery: Board to Meet on October 22 to Consider Raising Rs 300 Cr via NCDs.
• SMC Global Securities: Allots 1 Cr Warrants to Non-Promoter Category on Preferential Basis.
• Cemindia Projects: QIP Issue Opens; Sets Rs 1,158.58/Share as Floor Price.
• Capri Global Capital: To Raise Up to Rs 4,000 Cr via Equity and Debt.
• Emmvee Photovoltaic: To Start 6-GW Solar Cells Plant by March.
• City Union Bank: Tax Demand Reduced to Rs 209 Cr.
• Blue Star: Voluntary Strike-Off of Step-Down Arm Blue Star Air Conditioning.
• Laurus Labs: Invests Rs 108 Cr in KRKA Pharma via Rights Issue.
• Hari Om Pipe: Commissions Two Solar Plants of 10 MW AC in Maharashtra.
• Dr Reddy's Laboratories: US FDA Issues 3 Observations to Visakhapatnam Unit. US FDA Concludes Inspection at Vizag Manufacturing Unit, Inspected from October 8-9.
• GNG Electronics: In Pact to Lease Land in UAE's SAIF Zone with Government of Sharjah. SAIF Stands for Sharjah Airport International Free Zone.