Indian equity benchmarks experienced gains on Wednesday, driven by widespread buying in the market. Investors reacted positively to signs of potential de-escalation in West Asia and changing crude oil prices. The Nifty 50 and Sensex indices both increased after assessing recent corporate developments and strategic forecasts. Key stocks including Bharat Dynamics and NTPC are anticipated to remain in focus following significant announcements.
US diesel futures fell significantly following reports of a potential 90-day export ban. President Donald Trump expressed his support for the ban to manage rising fuel prices. However, US Energy Secretary Chris Wright indicated that such a ban may not effectively resolve the price issues. Diesel prices have surged due to supply cuts from major exporters like Russia and Saudi Arabia.
Indian equities ended higher despite volatility, with investors focusing on improving domestic growth momentum despite elevated crude prices and geopolitical risks. Three stocks are suggested by an expert citing bullish trends, improving momentum and breakout signals.
The 10-year US Treasury yield climbed to 5.058%, its highest level since July 2007, as fresh services and manufacturing data raised concerns about further Federal Reserve rate hikes. Rising yields intensified pressure on equities, particularly growth and technology stocks.
The average 30-year mortgage rate reached 7.12%, its highest since May 2024, marking a significant increase. This rise follows the recent Federal Reserve interest rate hike aimed at controlling inflation. As borrowing costs climb, refinancing and home purchase applications have decreased significantly. The surge in rates has resulted in more borrowers opting for adjustable-rate mortgages. Elevated oil prices and inflationary pressures are contributing factors to the current housing market conditions.
Sedemac Mechatronics may see a block deal of up to 44.3 lakh shares, representing 10% equity, as investors seek approximately Rs 1,329 crore. The reported Rs 3,000 floor price is below Wednesday’s close, with shares subject to a 60-day lock-in.
Seven healthcare stocks hit fresh 52-week highs on Wednesday, led by Anlon Healthcare, which gained 108% in a month. Kopran, Kilitch Drugs, Innova Captab and others also posted strong recent gains.
Singapore’s attempt to boost US stock trading during Asian hours has seen subdued volumes, highlighting challenges from competing products, limited investor familiarity and growing efforts to enable round-the-clock access to US equities.
British business activity weakened in September, with the services PMI falling to a three-month low while inflationary pressures intensified. Manufacturing improved modestly, but overall growth remained subdued. Weak hiring and business confidence, alongside higher borrowing costs, complicate the government’s outlook ahead of the October budget and increase pressure on the Bank of England.
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