The global markets today were driven by political moves in the US, strong corporate updates in India, and sectoral shifts across IT, infra, pharma, and banking. While domestic indices managed to close in the green, volatility remained high due to expiry pressure and weak listings. Here’s a complete breakdown of the key developments.
- US Tariffs & Visa Curbs:
- The US President once again tightened trade and immigration policies. He announced a 25% tariff on foreign trucks starting November 1. Additionally, H1-B visa fees may rise to $100,000, and a new rule caps foreign students at only 5% per university. These measures are expected to impact India’s IT and student migration sectors.
- US Government Shutdown Continues:
- A second vote failed to pass the funding bill, with results at 52-42, falling short of the required 60 votes. The shutdown remains in effect, weighing on investor sentiment.
- Wall Street & Semiconductors Rally:
- Despite the shutdown, semiconductor stocks surged, with AMD up 24%. However, China, Korea, and Hong Kong markets remained closed for holidays.
IT & Technology
- LTI Mindtree signed a multi-year agreement with a global media giant.
- HCLTech partnered with MIT for research-driven innovation.
- Infosys renewed a $500 million IT contract with a European telecom company.
- Tech Mahindra joined hands with NVIDIA for AI-driven automotive solutions.
- HCLTech–SAP collaboration deepened with cloud migration services.
Pharma & Healthcare
- Zydus Lifesciences got approval from Canada Health Authority for Liothyronine tablets, projected to generate CAD 10.9 million.
- Metro Police Healthcare reported 23% revenue growth, debt-free status, and ₹55 crore net cash.
- Sun Pharma launched a new migraine drug in the US.
- Cipla secured DCGI approval for a pediatric asthma inhaler.
Infrastructure, Energy & Construction
- Dilip Buildcon & APMPL JV won a 100 MW solar power project for Madhya Pradesh Jal Nigam with a 25-year PPA.
- L&T Construction bagged a ₹2,100 crore metro rail systems order in Gujarat.
- BHEL secured a ₹950 crore NTPC contract for thermal equipment.
- KEC International won a ₹1,050 crore transmission line order in Brazil.
- Ashok Leyland received an order for 1,200 buses from Tamil Nadu Transport.
Banking & Financials
- Bank of India reported 11.8% global business growth; deposits up 10.8%, advances up 13.94%.
- HDFC Bank, Kotak Bank, Axis Bank showed bullish breakout patterns, drawing investor attention.
- LIC Housing Finance got RBI nod to launch a digital-only lending platform.
Manufacturing & Autos
- Tata Motors reported a decline in both sales and production.
- JLR (Tata Motors) Q2 FY26 wholesales dropped 24.2% YoY to 66,165 units.
- Hero MotoCorp launched a new EV scooter at ₹1.25 lakh.
- M&M posted 18% YoY growth in tractor sales.
- KRN Heat Exchanger to spin off its bus AC business into a new subsidiary.
- Sensex: 81,926.75 (+136.63 pts)
- Nifty 50: 25,108.30 (+30.65 pts)
- Midcap Index: +0.89%
- Smallcap Index: +0.28%
- Sectoral Leaders: IT (+2%), Healthcare & Private Banks (+1.2%).
However, expiry pressure pulled the market momentum down, and today’s IPO listings (Fabtech, Glottis) underperformed against expectations.
- HSBC Life Insurance (Canada) IPO price band set at ₹100–₹106, lot size 140 shares.
- Ola Electric IPO oversubscribed 3.5x on Day 1.
- Runwal Developers filed for ₹1,500 crore IPO.
- Sterlite Power plans ₹2,000 crore IPO by November.
- Mamaearth raising ₹1,200 crore via QIP.
- Ather Energy received ₹800 crore funding from Hero MotoCorp & GIC.
- Coal India & CMDC signed an MoU for critical minerals exploration.
- Oil India & MGL tied up for LNG value chain opportunities.
- Four new railway projects worth ₹24,634 crore approved – covering Baroda–Ratlam, Bhusawal–Wardha, Gondia–Dongargad, Itarsi–Bhopal–Bina lines. Beneficiaries: Maharashtra, MP, Chhattisgarh.
- Reliance Retail crossed ₹3 lakh crore revenue in H1 FY26.
- TCS posted record profit ₹12,800 crore in Q2 FY26.
- Maruti Suzuki crossed 2 million vehicle exports.
- Nykaa hit 50 million app downloads milestone.
- IRCTC achieved 3.2 million ticket bookings in a single day (Oct 6).
- Buy calls: IDFC First Bank, M&M Financial Services, Graphite India.
- IT short-term gainers: Tata Elxsi, Persistent Systems, LTI Mindtree.
- Banking breakout stocks: HDFC Bank, Kotak Mahindra Bank, Axis Bank.
- DIIs: Net buyers of ₹5,036 crore.
- FIIs: Net sellers of ₹313 crore.
- Mutual funds: Increased equity holdings.
- Global risks rising: US tariffs and visa restrictions may impact Indian IT and student flow.
- Domestic resilience: Indian corporates reported strong deals across IT, infra, pharma, and energy.
- Railway & infra boost: Multi-thousand crore approvals to benefit PSU and infra stocks.
- IPO boom continues: Strong pipeline but weak listings caution investors.
- Banking & IT remain leaders: Sectoral rotation driving near-term opportunities.