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.
As Indian IT firms gear up for their Q2 earnings report, the landscape appears mixed. Strong deal activity persists, yet clients are pushing for higher efficiency, leading to a notable decline in revenue growth. Large IT companies may witness their weakest growth in three years, primarily due to acquisitions rather than organic expansion. Infosys is under a microscope for possible downward adjustments to its revenue guidance.
Four F&O stocks saw a sharp rise in futures open interest, led by Anand Rathi Wealth, which recorded a 141.73% jump as of October 1.
Yes Bank shares rose after the lender reported a 23.8% YoY growth in loans and advances to around Rs 3.1 lakh crore in Q2 FY27. Deposits also grew nearly 20% YoY, signalling continued business momentum.
The Indian stock market recovered after eight weeks of losses, with Sensex gaining 473 points and Nifty 134 points. HDFC Bank appointed Anup Bagchi as its new CEO, boosting investor confidence. Oil prices fell below $102 per barrel due to increased supply and decreasing Fed rate hike concerns. The rupee strengthened amid easing oil prices, while bond yields also cooled down after recent highs.
HDFC Bank shares rose after Anup Bagchi was appointed as the bank’s new MD & CEO, ending months of uncertainty over its top leadership. Brokerages Jefferies, Morgan Stanley and Citi retained positive ratings on the stock, citing clarity on succession and potential for a re-rating. The bank also reported strong loan and deposit growth in Q2.
