European shares opened the final quarter lower as elevated global bond yields and persistent inflation concerns weighed on investor sentiment. The STOXX 600 fell 1%, with banks among the biggest decliners. Higher energy costs and expectations of prolonged interest rates pressured equities, while softer oil prices offered limited relief to markets.
Indian mainboard IPOs raised a record Rs 94,205 crore in H1 FY27, up 35% year-on-year, driven by a strong late-quarter surge in August and September. Average listing gains jumped to 19% from 7% last year, while overall public equity market fundraising touched Rs 2.43 lakh crore.
PB Fintech shares plunged 50% from their all-time high to drop below the 2021 IPO price of Rs 980. The sharp six-day selloff follows proposed IRDAI regulatory curbs on insurance distribution, prompting brokerages like Bernstein and Jefferies to cut target prices amid earnings pressure concerns.
Indian asset management companies are experiencing steady retail inflows, notably through Systematic Investment Plans. Kotak Institutional Equities suggests that future growth is closely tied to market recovery and continuous fund performance. Smaller AMCs are becoming more popular, whereas larger firms are pressured to deliver consistent results. For significant AMCs like SBI Funds Management, stable performance is crucial for sustaining profit growth.
The Indian rupee fell to its weakest level in two months as global bond yields rose sharply. Oil prices soared past $100 per barrel, complicating the currency situation further. Investors are concerned about foreign portfolio outflows that are impacting the rupee adversely. Additionally, rising borrowing costs threaten government finances and could affect stocks negatively. A key US labor market report is set to be released soon.
Indian government bonds experienced a decline as US Treasury yields rose and supply increased ahead of the Reserve Bank of India meeting. The benchmark bond yield reached its highest level in two and a half years. Market analysts expect the RBI to raise interest rates for the first time since 2023. Additionally, bond market activity was affected by global economic conditions and expectations of further rate hikes.
The Indian stock market will remain closed on October 2 for Mahatma Gandhi Jayanti, with the BSE and NSE shutting trading. MCX and NCDEX will also remain closed. Investors can check the remaining 2026 market holidays, including Dussehra, Diwali-Balipratipada, Guru Nanak Jayanti and Christmas, ahead of the upcoming trading sessions.
As political instabilities linger, the euro has descended to its lowest point in over 17 months when measured against the dollar. This shift has prompted investors to favor the dollar, which is showing strength across various currencies. Meanwhile, the Australian dollar has reached a two-month low due to disappointing local inflation forecasts. European markets, burdened by surging oil prices and escalating inflation, are facing a formidable set of economic hurdles.
Tata Motors Passenger Vehicles shares dipped on Thursday despite a 40% year-on-year rise in Q2 FY27 sales, while the Nifty Auto index declined more than 4%. The company reported strong growth across passenger vehicles and EVs, with quarterly EV sales rising 90%. Investors are now watching festive-season demand and broader auto-sector trends.
The US 10-year Treasury yield surged to a 24-year high, triggering a global bond sell-off and pressuring Indian equities, bonds and the rupee. Higher US borrowing costs are raising concerns over FII outflows, currency weakness, imported inflation and RBI policy. Rising crude prices are adding to the pressure on Indian markets.
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