Bank of England Chief Economist Huw Pill has questioned market expectations for four quarter-point rate hikes over the next 12 months as policymakers assess the inflationary fallout of the Iran war. His comments highlight divisions within the Monetary Policy Committee over how to balance rising energy prices against risks to economic growth.
US consumer prices increased in September, contributing to expectations of an interest rate hike by the Federal Reserve. Following this inflation data, gold prices fell over 1% for the third consecutive session. The US dollar index also climbed, making gold more expensive for foreign investors. Market predictions indicate a 44% chance of a rate hike in October and a 95% chance in December.
Bitcoin hovered around $83,300 on Wednesday as a sharp sell-off in Asian equities triggered over $800 million in crypto liquidations. Broader macroeconomic uncertainty, softening institutional ETF demand, and rising tech volatility continue to weigh on investor sentiment despite large-scale accumulation at lower support levels.
HDB Financial Services Q2 Results: HDB Financial Services reported a 34% year-on-year rise in Q2FY27 net profit to Rs 780 crore, while revenue from operations grew 10% to Rs 5,005 crore. The company also declared an interim dividend of Rs 2 per share. Its shares fell over 4% ahead of the earnings announcement on Wednesday.
The Indian rupee has experienced an increase for the third consecutive session amid regulatory changes by the central bank. It reached a peak of 94.77 before settling at 95.15 against the dollar. Additionally, Indian importers continue to hedge against potential rupee weakness, contributing to ongoing dollar demand. Investors are awaiting US consumer inflation data for insights on future interest rates.
Foreign investors have sold over Rs 6 lakh crore of Indian equities since the 2024 capital gains tax hike, with outflows intensifying in 2026. Finance Minister Nirmala Sitharaman’s comments on LTCG and STT have revived hopes of tax relief, but analysts remain divided on whether any rejig can trigger a sustained FII comeback.
Ten Nifty 500 stocks have fallen between 47% and 58% over the past year, significantly underperforming the broader market. KEC International, Reliance Power and KPIT Technologies lead the list of laggards, as nearly 50 stocks in the index have declined more than 30% during the period.
Japan’s five-year government bond yield held steady at 2.34% on Wednesday after strong demand at a Ministry of Finance auction. Solid bid-to-cover ratios, easing French bond yields, and growing market expectations that the Bank of Japan is nearing the end of its rate hike cycle buoyed investor appetite.
Global brokerage firm UBS maintained a Buy rating on CarTrade Tech with a target price of Rs 4,000, citing strong monetisation potential in its OLX India business. UBS expects OLX’s emerging revenue levers, such as financing, subscriptions, and logistics to drive a 5x revenue expansion to Rs 11.8 billion by FY31.
Johnson & Johnson shares fell as much as 6.8% despite an improved full-year earnings outlook. A sharp decline in reported quarterly profit, weaker-than-expected MedTech performance and litigation-related charges weighed on investor sentiment despite revenue growth and adjusted earnings beating estimates.
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