Nifty 50 opens from 22,687.65 after a 0.54% decline

The session

Where the market stands

Key drivers

Market breadth

Currency, commodities & rates

Currency, commodities and rates

• USD/INR: 94.81, rupee weaker by 0.10% on the session
• India VIX: 15.76 (+0.5%)
• Gold (rupee terms): -0.66% on the session, -2.0% over five sessions

Key drivers

Markets

• Stocks in news: Swiggy, Infosys, HPCL, eMudhra, Adani Power, Shriram Finance, Tata Motors and NLC India. Indian equity markets faced continued downward pressure, marked by persistent selling and negative global indicators. The Nifty 50 index saw a decline, with analysts pointing out critical resistance and support points. (Economic Times Markets)
• IT stocks rebound sharply in October: TCS gains 22%, Wipro and Tech Mahindra gain 20% — 3 key reasons behind the jump. Indian IT stocks rebounded sharply in October, with the Nifty IT index rising 16% as stronger-than-expected quarterly results, attractive valuations, and easing concerns about AI disruption revived investor interest. (LiveMint Markets)
• Stock Market Today LIVE: Sensex, Nifty 50 Fall 1% Each; Nestle, BEL, Coal India, Tata Steel Top Drags. Stock Market Today LIVE: Broader markets continue to bleed, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices falling over 1% each.Rupee Opens 1 Paise Lower At 94.47 Per US Dollar (NDTV Profit)
• Hatsun Agro Product Q2 Results: Profit rises 5.6% on strong sales. Hatsun Agro Product reported a notable growth in net profit for the September quarter, reaching Rs 115.69 crore, up from Rs 109.54 crore from last year. Total income also surged to Rs 2,902.49 crore, showcasing strong sales amidst industry hurdles. (Economic Times Markets)

Read more Stocks in news: Swiggy, Infosys, HPCL, eMudhra, Adani Power, Shriram Finance, Tata Motors and NLC India · IT stocks rebound sharply in October: TCS gains 22%, Wipro and Tech Mahindra gain 20% — 3 key reasons behind the jump · Stock Market Today LIVE: Sensex, Nifty 50 Fall 1% Each; Nestle, BEL, Coal India, Tata Steel Top Drags · Hatsun Agro Product Q2 Results: Profit rises 5.6% on strong sales

Economy & policy

Economy and policy

• Sebi warns investors against WhatsApp stock tips. Here's how you can avoid such traps. SEBI has cautioned investors against exclusive WhatsApp groups spreading unauthorised stock tips and fake profit claims. (Economic Times Markets)
• Sebi allows margin relief against early pay-in of securities for subsequent trades. The Securities and Exchange Board of India (Sebi) has announced a new directive that eases margin requirements for clients with a net sell obligation. (ET Stocks)
• ‘Rate cuts are off the table in the near term’: RBI in October MPC minutes. This comes after RBI MPC decided unanimously to hike the repo rate by 25 bps to 5.5% in the October MPC. The next RBI MPC meeting is scheduled for December 2-4. (Business Today Mkts)
• RBI flags widening inflation risks, puts rate cuts on ice. RBI's Monetary Policy Committee raised the benchmark repo rate by 25 basis points to address rising inflation concerns. Governor Sanjay Malhotra indicated a generalisation of inflation, with many commodities exceeding 4% inflation. (ET Stocks)

Read more Sebi warns investors against WhatsApp stock tips. Here's how you can avoid such traps · Sebi allows margin relief against early pay-in of securities for subsequent trades · ‘Rate cuts are off the table in the near term’: RBI in October MPC minutes · RBI flags widening inflation risks, puts rate cuts on ice

Companies

• 10 stocks plunge up to 53% from their yearly peaks. India’s market correction has pushed several midcap stocks sharply below their 52-week highs. (Economic Times Markets)
• Why RBI is draining excess liquidity but also injecting funds. Reserve Bank of India has significantly reduced banking system liquidity from a peak surplus in a short time. Liquidity surged after banks received funds from overseas Indians under the FCNR(B) scheme. (Economic Times Markets)
• Rupee declines first time in eight sessions as Brent oil prices rise above $112. On Thursday, the Indian rupee declined for the first time in eight trading sessions. This occurred even amid foreign portfolio investment inflows for the Jio Platforms IPO. Brent oil prices climbed to over $112 per barrel, contributing to the rupee's fall. (Economic Times Markets)
• Nippon Life India AMC gets Sebi nod to settle Yes Bank AT-1 bond case. Nippon Life India AMC received in-principle regulatory approval to settle the Yes Bank AT-1 bond case after paying ₹96.76 crore, while its September-quarter net profit fell nearly 6%. (Business Standard Mkts)

Read more 10 stocks plunge up to 53% from their yearly peaks · Why RBI is draining excess liquidity but also injecting funds · Rupee declines first time in eight sessions as Brent oil prices rise above $112 · Nippon Life India AMC gets Sebi nod to settle Yes Bank AT-1 bond case

Companies

New issues

• Jio leverage play pops up at SBI as India brokers lure IPO bets. SBI Securities has launched an exciting financing option for the highly anticipated IPO of Jio Platforms Ltd. Investors can secure up to 60% funding for their subscriptions, with the IPO set to open for bids on October 21. (Economic Times Markets)
• Stock Market LIVE: Sensex down 500 pts; Jio IPO subscribed 3.3 times on 2nd day so far. Sensex Today Stock Market LIVE Updates Thursday: In the broader markets, the Nifty MidCap and the Nifty SmallCap fell 1.04 per cent and 0.91 per cent, respectively (Business Standard Mkts)
• Rupee soars to 6-week high on Jio IPO flows, weaker dollar. On Wednesday, the Indian rupee closed at a six-week high of 94.46, gaining 46 paise from its previous close. This increase was driven by strong foreign portfolio inflows linked to the Jio Platforms' IPO. (Economic Times Markets)
• Record galore! Jio IPO claims crown for highest QIB demand among India’s 5 largest issues, edges past NSE. Jio Platforms’ Rs 30,213-crore IPO attracted 12.87 times QIB subscription, surpassing NSE’s institutional demand. Overall subscription reached 5.36 times by Day 2, with a strong grey market premium and positive brokerage recommendations. (Economic Times Markets)

Read more Jio leverage play pops up at SBI as India brokers lure IPO bets · Stock Market LIVE: Sensex down 500 pts; Jio IPO subscribed 3.3 times on 2nd day so far · Rupee soars to 6-week high on Jio IPO flows, weaker dollar · Record galore! Jio IPO claims crown for highest QIB demand among India’s 5 largest issues, edges past NSE

Currency, commodities & rates

World

• Global Market: Indonesia imposes record $117 million in fines for stock market violations. Indonesia’s financial regulator imposed record fines of 2.1 trillion rupiah ($116.67 million) for trading violations involving three listed companies. (Economic Times Markets)
• Delhi Police Arrest Content Creator Over Viral Video Mocking Tripura Youth As 'Chinese’. A Delhi content creator who allegedly mocked a Tripura youth as “Chinese” in a viral video has been arrested after police raids across the city. (NDTV Profit)
• Air India Rolls Out Multi-Course Fine Dining In Business Class On India-UK Flights: What's New. Air India's new service features linen-laid tables, individually plated courses and bespoke tableware inspired by Indian craftsmanship. (NDTV Profit)
• BT Explainer: China’s critical mineral refining edge - What India must do to catch up. China’s dominance in critical mineral refining leaves India vulnerable to supply disruptions even as it steps up overseas mining investments. (Business Today Mkts)

Read more Global Market: Indonesia imposes record $117 million in fines for stock market violations · Delhi Police Arrest Content Creator Over Viral Video Mocking Tripura Youth As 'Chinese’ · Air India Rolls Out Multi-Course Fine Dining In Business Class On India-UK Flights: What's New · BT Explainer: China’s critical mineral refining edge - What India must do to catch up

What matters next