Citigroup has reported a remarkable 40% jump in its third-quarter profits year-over-year, despite some declines in other areas. Trading revenue took a hit, influenced by unstable market conditions, while investment banking saw a modest 9% year-on-year increase but fell substantially from the last quarter. Credit card profits faced declines due to heightened costs and loan loss provisions. Citi is wrapping up a multi-year restructuring as it aims for renewed growth.
(Compares with estimates in headline and paragraph 1, adds analyst comment in paragraph 4, updates shares, details and context throughout)- JPMorgan
Sebi has announced a new Portfolio Management Services framework effective from April 1, 2027. This framework permits portfolio managers to invest in IPOs, primary market debt, and various overseas securities. Portfolio managers can also offer advisory services related to unlisted securities for large investors. Furthermore, a Portfolio Managers Route for Investing in Mutual Fund units will facilitate investment in direct plans.
Jio Platforms has received over $20 billion in bids ahead of its proposed IPO, Bloomberg reported, with global investors including Fidelity, Allianz and Capital Group expressing interest. The issue could raise around Rs 30,200 crore at a valuation of Rs 10.3 lakh crore, making it India’s largest-ever IPO.
Asian AI stocks tumbled as rising bond yields, higher financing costs, and concerns over excessive infrastructure spending weakened investor confidence. South Korea’s Kospi and Japan’s chipmakers suffered sharp losses, while AI-related funding faced tougher scrutiny. Investors increasingly demand sustainable revenues and profits, questioning whether massive AI investments will deliver expected returns.
Shares of Paytm, Pine Labs dropped after NPCI delayed the rollout of merchant discount rate (MDR) fees on select UPI transactions beyond Diwali. The rollout, earlier scheduled for October 15, was expected to boost fintech companies’ earnings during the festive season. NPCI said the revised implementation date would be communicated to stakeholders soon.
ETMarkets identifies 11 stocks held by single mutual fund schemes that surged 80%–224% in FY27 so far, highlighting seven multibaggers with exclusive fund ownership as of September 2026.
PL Capital remains cautious on the Nifty after its eight-week losing streak, ruling out a quick V-shaped recovery. The brokerage has trimmed earnings estimates but sees valuation comfort in largecaps, while flagging inflation, FII outflows and demand risks.
Indian AI- and energy-linked stocks decline as a global technology sell-off deepens, with South Korea’s KOSPI plunging amid intensifying competition in the AI sector. Investors reassess AI valuations following sharp losses in Asian semiconductor stocks.
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