China’s yuan strengthened to a four-year high against the US dollar following stronger-than-expected third-quarter economic growth and improving retail sales. A weaker dollar and increased corporate currency conversions also supported gains. Investors now await Chinese policymakers’ signals on monetary policy, currency management and further economic stimulus measures.
The NSE and BSE will remain closed on October 20 for Dussehra. With 12 of the 16 scheduled stock market holidays for 2026 already passed, three more holidays remain after the October closure. These include Diwali-Balipratipada on November 10, Guru Nanak Jayanti on November 24 and Christmas on December 25.
Kross shares surged following strong Q2 FY27 results, with revenue rising 80% and net profit climbing 143% year-on-year. EBITDA more than doubled, while margins improved. Robust commercial vehicle demand, capacity expansion and operational efficiencies supported growth, alongside increased institutional shareholding and the stock reaching a fresh 52-week high.
Finance Minister Nirmala Sitharaman says easy liquidity is allowing investors to exit Indian equities as the Nifty and Sensex struggle to deliver positive returns. Foreign investors have pulled out nearly $63.6 billion since October 2024, erasing nine years of inflows, amid rising US yields, a stronger dollar and AI-driven investment shifts.
PC Jeweller shares rallied 26% in two sessions after Cupid promoter Aditya Kumar Halwasiya bought 5.10 crore shares worth Rs 73.60 crore. The jewellery maker recently repaid its dues to 14 consortium banks, achieving debt-free status ahead of schedule.
A look at key global market drivers this week, from US corporate earnings and China’s economic data to bond yields, Brazil’s election and central bank policy decisions.
Punjab National Bank shares rose sharply on Monday after the lender reported a 13% year-on-year rise in Q2FY27 net profit to Rs 5,532 crore. Stronger net interest income and improving asset quality prompted bullish brokerage calls, with Jefferies, Motilal Oswal and JM Financial setting target prices of Rs 140 apiece.
Sahajanand Medical Technologies’ IPO enters its final bidding day with 82% subscription on Day 2 and a 7% grey market premium. The Rs 475.48 crore offer is entirely an offer for sale. Investors will monitor subscription trends, listing expectations and strong FY26 profit growth before the shares debut.
Bonfiglioli Transmissions’ Rs 2,534-crore IPO entered its final day of bidding on October 19, with the grey market premium (GMP) easing to 22% from 30% earlier, indicating moderating expectations for listing gains. The IPO is entirely an offer for sale (OFS) of 4.32 crore shares, meaning the company will not receive any proceeds from the issue.
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