ECB President Christine Lagarde warned that a global bond selloff is tightening euro zone financial conditions, raising borrowing costs and weighing on growth. Policymakers face a challenge balancing persistent energy-driven inflation risks against slowing economic activity.
Indonesia’s stock exchange will meet MSCI on Monday to seek clarity over a warning that could strip the country of its emerging-market status. The threat triggered a sharp selloff, wiping $65 billion off market capitalisation on Friday. A downgrade could prompt foreign fund outflows and weaken investor participation in Indonesian equities.
China backed the IMF’s efforts to monitor fiscal risks in major advanced economies and assess global spillover effects. PBOC Governor Pan Gongsheng highlighted rising debt, financial imbalances and cross-border capital flows, while opposing protectionism. The IMF urged China to strengthen domestic consumption and reduce reliance on exports.
Jio Platforms is making waves with its IPO, drawing in around Rs 2.5 lakh crore from institutional investors, reflecting remarkable enthusiasm in the market. With backing from renowned global asset managers and sovereign wealth funds, this Rs 30,200 crore offering launches on October 21, featuring a price band of Rs 1,065 to Rs 1,119 per share. The company aims to use most proceeds to clear existing debts, enhancing financial stability.
Tech Mahindra shares fell 2.1% after a sharp post-results rally, as investors booked profits. Brokerages remain divided, with Nuvama projecting 25% earnings growth over two years, while Nomura maintains a Neutral rating amid a focus on future growth and margins.
ICICI Bank has outperformed HDFC Bank in 2026, supported by stronger loan growth, deposits and profitability. While ICICI commands a valuation premium, HDFC’s 28% stock decline has created a potential recovery opportunity. Brokerages see scope for HDFC’s margins to improve, but narrowing the growth and funding gap remains key.
HFCL reported a 448% year-on-year jump in Q2FY27 net profit to Rs 394 crore, compared with Rs 71.92 crore a year ago. Revenue surged 144% to Rs 2,542 crore, while EBITDA rose 224% to Rs 658 crore. EBITDA margin expanded 640 basis points to 25.89%. The optical fibre and AI beneficiary’s stock hit the 5% upper circuit at Rs 268.70 on the BSE and has gained nearly 300% so far this year.
Japan’s Nikkei 225 fell as US technology stock losses and rising oil prices heightened inflation and interest rate concerns. Semiconductor stocks led declines, while defensive and value shares offered potential support. Bank of Japan Governor Kazuo Ueda highlighted inflation near the 2% target, keeping monetary policy expectations in focus.
Ixigo shares jumped after the travel platform reported a record Q2 profit of Rs 63.42 crore, partly boosted by the sale of its stake in Freshbus. Gross transaction value rose 22% year-on-year to Rs 5,304.47 crore, while revenue grew 13% to Rs 320.96 crore and contribution margin increased 14% to Rs 124.86 crore.
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