Shares traded flat at ₹723 on the NSE at 9.58 am after rising to ₹734.20 in early trade from ₹721.20 previous close
US stocks face downside risks as volatility-control funds and CTAs hold historically high equity exposure after the S&P 500’s rally. A volatility spike could force systematic strategies to sell heavily, potentially amplifying market declines. Concentrated AI-related gains, stretched positioning and upcoming US midterm elections add to concerns over market volatility.
The euro fell to a 17-month low as concerns over France’s fiscal outlook and bond-market selloff weighed on sentiment. The dollar strengthened despite weak US jobs data, supported by elevated Treasury yields and safe-haven demand. Diverging central-bank expectations and persistent bond volatility are likely to keep currency markets under pressure.
US stocks enter Q4 with strong seasonal support, but rising Treasury yields, elevated valuations and heavy AI spending create risks. The S&P 500’s direction will hinge on earnings, Federal Reserve policy, AI capital expenditure and November’s midterm elections, as investors weigh further gains against potential market volatility and correction risks.
Gold and silver prices opened mixed on the MCX, with silver gaining while gold declined. Weak US economic data reduced expectations of a Federal Reserve rate hike in October, supporting precious metals. Spot gold and silver also rose. Analysts expect further gains if key resistance levels are breached, but advise avoiding fresh positions amid geopolitical tensions and US-Iran peace talks.
The Reserve Bank of India intervened in the foreign exchange market to support the rupee. This action was taken as the currency faced pressure from a stronger dollar and fluctuating oil prices. Traders reported that state-run banks were observed offering dollars, likely on behalf of the RBI. The dollar index increased to its highest level in more than one year. The rupee slightly strengthened, closing at 96.
V2 Retail shares fell 20% despite a 28.4% year-on-year rise in Q2 FY27 revenue to Rs 905 crore, driven by continued store expansion. Same-store sales growth stood at 0.5% on a festival-normalised basis but declined 14.9% on a calendar basis due to the shift in Navratri and Durga Puja. The company expects stronger demand in Q3.
Japan’s Nikkei surged 2.53% to a three-month high, led by AI and chip stocks following Wall Street gains. Advantest and Tokyo Electron rallied, while SoftBank also advanced. Easing expectations for a Federal Reserve rate hike supported sentiment, though investors remained selective amid a more cautious outlook for the AI-led rally.
HDFC Bank, ICICI Life, Wipro, DLF, Ola Electric, Gland Pharma, Unimech, Solex Energy, Aurobindo Pharma, and others
Recent market dynamics have created continued selling pressure, adversely affecting stock performance over the past few weeks. Experts believe upcoming trends in the energy sector will heavily sway market sentiment. Stocks like Cyient, Siemens Energy, and Schneider Electric are highlighted as having notable return potential, each accompanied by specific buy levels and target prices for investors. Careful evaluation of personal strategies and market insights is highly recommended.
