IDFC First Bank will increase its weight in the Bank Nifty index after merging with IDFC Ltd on October 10, attracting $39 million in passive funds amid adjustments affecting other banks.

The Reserve Bank of India changed its policy stance to neutral from withdrawal of accommodation while maintaining the repo rate at 6.5%, hinting at a potential rate cut in the upcoming year. Stock and bond markets responded positively, with significant gains in financial sectors.

Trent Share Price: Trent's shares surged by 12% as it launched its lab-grown diamond (LGD) brand 'Pome' in select Westside stores. Priced affordably, Pome targets broad-based LGD penetration. Domestic and global brokerages see value in Trent's strategy, noting significant potential in emerging categories and strong financial returns.

D-Street investor Rekha Jhunjhunwala reduced her stake in Canara Bank to 1.42% by end of September 2024, down from 13.32 lakh shares in the previous quarter. Canara Bank's promoter group holds 62.9% shares, while mutual funds and retail investors increased their stakes.

The Indian power sector is undergoing a significant transformation, driven by the expansion of renewable energy and robust operational growth.Global investment bank Nomura, in its latest report shared its strategic insights on two key players in the sector: Tata Power and JSW Energy.With strong growth projections and ambitious targets, these companies are poised to lead the charge in India's energy transition.Report Source: ETNow

Cash Logistics relies on operational efficiency, and CMS Info with extensive pan-India presence, high route density and technology superiority is set to stymie its competition.Elara projects CMS Info’s market share to increase to ~48% (FY24: ~47% in) in ATM segment and ~40% (FY24: 38%) in retail.

Shares of RITES surged 8% after the company signed an MoU with Etihad Rail to explore railway infrastructure development in the UAE. This partnership aims to enhance connectivity, innovation, and sustainable infrastructure, boosting trade routes and operational efficiency. RITES' shares have increased by 37% over the past year.

Domestic cement producers may see profits halved in Q3 due to low volume growth and three-year low prices, amid intense competition and adverse weather impacting demand.

Shares of Senco Gold climbed nearly 5% after the company reported strong business updates for the July-September period. Retail growth increased by 27% year-on-year, with same-store sales growth rising to 20% in Q2, up from 4% in Q1.

Several brokerages remain bullish on stocks across various sectors, including banking, finance, and cement. According to Trendlyne data, seven stocks, including IndusInd Bank, SBI, and ACC, have received more than 20 analysts' buy calls and could rally up to 51%. Here's the list of these stocks:

Shares of Torrent Power surged 9% to a 52-week high after signing two letters of award with Maharashtra State Electricity Distribution Company Limited for the long-term supply of 2,000 MW energy storage capacity. The agreements include 1,500 MW energy supply capacity and 500 MW additional storage capacity, with plans for 40-year procurement from a pumped hydro storage plant in Maharashtra.

Shares of Suzlon Energy surged over 9% to Rs 80.47 on the BSE. The increase follows reports that Suzlon is competing to supply wind turbines to Tata Power. Tata Power seeks bids for a total capacity of 3 gigawatts. Earlier, Suzlon received warning letters from NSE and BSE over corporate governance issues raised by an Independent Director.

Shares of banks and NBFCs went up by as much as 4% after the RBI shifted its policy stance to 'neutral'. This change hints at a possible rate cut cycle from December. Shriram Finance saw the biggest gain in Nifty, rising over 4%. Other financial stocks also gained significantly, boosting the Sensex by 500 points.

NeoPolitan Pizza and Foods' shares started trading on the BSE SME platform at a 3.75% discount from the issue price. The company plans to use the funds for expansion and working capital.

Zomato Ltd has more than doubled its value over the past year, rising from Rs 104 to Rs 266, and experts suggest the rally may continue. Technical indicators such as the 50-DMA support and strong moving averages point to continued bullish momentum, with potential targets above Rs 300 in the coming weeks.

Several brokerages remain bullish on stocks across various sectors, including banking, finance, and cement. According to Trendlyne data, seven stocks, including IndusInd Bank, SBI, and ACC, have received more than 20 analysts' buy calls and could rally up to 51%. Here's the list of these stocks:

Indian benchmark indices end a six-day losing streak with Nifty closing above 25,000. Dixon Technologies shows strong bullish momentum, while Indian Hotels rebounds from a support zone. Both stocks exhibit positive technical and derivative indicators, suggesting potential short-term gains.

Shares of SpiceJet surged over 8% after settling a significant ₹1,107 crore dispute with lessors for $22.5 million. This follows the airline's recent resolution of a $16.7 million dispute with Engine Lease Finance Corporation. SpiceJet is now preparing to expand its fleet and improve financial stability.

CLSA maintains a hold rating on HDFC Bank with a target price of Rs 1,725, while Nomura and Citi have buy ratings for SBI and IGL, respectively. HDFC Bank faces a dilemma akin to Shakespeare's Hamlet, choosing to sell down loans to address its high loan-deposit ratio, though this approach may not effectively repair its balance sheet and comes at the cost of profits.

After a significant 1,420-point drop in Nifty over six days, historical trends show potential for recovery, bolstered by domestic institutional and retail investors. A six-day consecutive fall has often led to positive returns, suggesting short-term declines may offer strategic buying opportunities.

Indian blue-chip indices Nifty50 and BSE Sensex opened higher for the second consecutive day, driven by gains in auto and IT stocks. This rise comes ahead of the Reserve Bank of India's policy meeting, where the central bank is anticipated to maintain current interest rates while adopting a hawkish stance.

Tata Motors will capture attention as Tata Power seeks over 3 GW of wind turbines for its hybrid energy facilities, with potential orders exceeding Rs 21,000 crore. Bidders include Siemens Gamesa and Suzlon Energy. Plans aim for 20 GW capacity by 2030, as Tata Power shifts towards 100% clean energy by FY45.

On October 8, the closing prices of four stocks from the Nifty500 pack rallied over 4% relative to the VWAP (Volume Weighted Average Price), and a shift above the VWAP suggests a potential bullish trend, according to stockedge.com's technical scan data.When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume. This occurrence is often interpreted as a potential bullish signal by traders and investors. Potentially indicating positive sentiment in the market.

Mainland China stocks plummet, breaking a 10-day winning streak, as officials fail to boost confidence in stimulus plans aimed at reviving the economy. The Shanghai Composite index drops 5.3%, while property and tourism sectors see significant declines amid disappointing Golden Week spending figures. Mainland China stocks fell sharply Wednesday, ending a 10-day winning streak due to uninspiring stimulus plans. The Shanghai Composite and CSI300 indices saw significant drops, while turnover hit a record high.

In the NSE list of stocks, five stocks with a market cap of over Rs 1000 crore are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on October 8.

In the Nifty50 pack, three stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on October 8, according to stockedge.com's technical scan data.

“On the daily chart, Max Healthcare stock is trading within an upward rising channel, indicating a sustained positive trend. Traders can buy for a target of Rs 980-1045 in the next 3-4 weeks,” Kkunal V. Parar, Vice-President of Technical Research and Algo, Choice Broking, said.

JSW Infrastructure announced the resignation of Arun Maheshwari as its Managing Director and CEO. Maheshwari, shifting roles within the JSW group, will stay on as a Non-Executive Director until November 7, 2024. Shares of JSW Infrastructure closed at Rs 323.45 after a recent gain, having outperformed the market significantly over the last year.

NeoPolitan Pizza and Foods' shares debut on the BSE SME platform with a flat to negative listing due to a grey market premium of Rs 0. Proceeds from the offering will support retail network expansion and working capital. The company operates in QSR and agricultural trading, with revenues of Rs 44.01 crore and a net profit of Rs 2.

Edelweiss Financial Services has launched a Rs 200 crore public issue of Secured Redeemable Non-Convertible Debentures (NCDs), offering yields of up to 11% per annum. With 12 series of NCDs, the funds will primarily be used to repay existing borrowings. The issue opens on October 7 and will be listed on BSE.

Infosys has expanded its collaboration with Old National Bank to accelerate the bank's operational and technological transformation. Leveraging automation and GenAI, the partnership aims to enhance process digitization, stability, and client experience. The alliance emphasizes efficiency and value generation, supporting Old National’s growth and resilience.

Mainland China stocks fell sharply Wednesday, ending a 10-day winning streak due to uninspiring stimulus plans. The Shanghai Composite and CSI300 indices saw significant drops, while turnover hit a record high. Hong Kong's Hang Seng index gained around 1% amid fiscal stimulus expectations.

Adani Green Energy's subsidiaries plan to raise up to $1 billion through US dollar-denominated bonds this month. The bonds will have a 20-year maturity and be issued in multiple tranches. The company recently raised $409 million through bonds and reported a significant increase in net profit and total income in the recent quarter.

Ten stocks, including Bandhan Bank, Birlasoft, and PNB, are banned from F&O trading due to high open interest exceeding 95% of the market-wide position limits. The ban is reversed if open interest drops below 80%. Indian indices rebounded driven by HDFC Bank and Reliance Industries ahead of RBI policy decisions.

Wall Street's benchmarks saw a rebound driven by tech stocks as investors eyed upcoming inflation data and third-quarter earnings. Lower Treasury yields favored high-growth tech companies. Major indexes like the S&P 500, Nasdaq, and Dow Jones showed gains. Key indicators include the recent jobs report and anticipated CPI data for interest rate predictions.

After last week’s sharp correction, the street is bound to grapple with its own fears and anxieties. Will the correction spill over to the mid-caps? Will it continue, both in terms of price cuts and time? There is a likelihood that as the Q2 season kicks off, the mid-cap segment will witness some profit-booking/rational shifting/consolidation. Many sub-segments may be formed in this space – and given the mix of head and tailwinds, this segmentation is likely to remain till there is clarity on how China emerges. So, if you are putting in fresh money, be selective and focus on managing risks. Hedge for the short term, and think from a long-term perspective.

Sensex and Nifty recovered after a six-day slump with major gains in Trent, Sobha, and SpiceJet. Trent's stock shows potential for further upside, Sobha is seen as a good long-term buy, while SpiceJet is recommended to be avoided due to low trading volumes.

A decisive move above 25,000 levels could possibly open the next upside resistance of 25,400-25,500 in the near term. Immediate support is at 24,700, said Nagaraj Shetti of HDFC Securities.

The IT services company expanded its four year collaboration with Old National Bank to accelerate the Bank’s operational and technological transformation.

Shares in Australia and Japan rose as did Hong Kong equity futures following sharp declines on Tuesday. US equity futures dropped after the S&P 500 rose 1% and the tech-heavy Nasdaq 100 advanced 1.6% Tuesday. Chipmakers were among the market leaders with Nvidia Corp. extending a five-day rally to 14%.

Tata Power is pursuing bids for wind turbines to equip its wind-solar hybrid renewable energy projects, expecting to install over 3GW with a potential expansion to 5GW over five years. Major manufacturers like Siemens Gamesa and Suzlon are involved, with investments estimated at $9 billion.

General insurance companies are likely to see a slowdown in premium income due to muted growth in the motor segment. Also, the claims from natural catastrophes are going to affect the overall profitability of insurance companies. At the same time, standalone health insurance companies are likely to see higher claims due to seasonal diseases and medical inflation.

This was decided at the first meeting of the parliamentary finance panel on Tuesday, which was attended by around two-dozen MPs and chaired by BJP MP Bhartruhari Mahtab. Former FM and senior Congress leader P Chidambaram is a part of the 31-member panel.

Mumbai-based EPS is backed by investors like the UK's Apis Partners and Dutch Entrepreneurial Development Bank FMO. The licence has made it the country's fifth white-label ATM operator alongside Tata Communications Payment Solutions, India1 Payments, Hitachi Payment and Vakrangee. The RBI had last issued this licence in 2014 to India1 Payments. Earlier, three other companies had surrendered their licences.

The loan was priced at 175 basis points above the three-month secured overnight funding rate (SOFR), which was trading at 4.59%. That pegs the floating-rate loan at 6.34%, people familiar with the matter said.

Mid-cap and small-cap stocks also fell in such periods, tracking the benchmark indices. In the subsequent three months, the mid-cap index rose seven times and fell thrice, while the small-cap index gained six times and declined four times.

At present, AIFs have been designated as qualified institutional buyers(QIB) and can avail certain benefits under Sebi rules. On Tuesday, Sebi said AIFs should not facilitate investors who are ineligible for QIB status on their own from availing the benefits.

Elsewhere in Asia, China advanced 4.6%, while Hong Kong, considered a proxy for China in the past week because of the holiday in mainland markets, plunged 9.4%, the biggest single-day fall since 2008. South Korea declined 0.6% and Taiwan dropped 0.4%.

Select stocks gain momentum even in volatile markets.