Nifty’s September derivatives series was the worst in 25 years, with the index falling 6.7% as foreign investors sharply increased bearish bets. FII index shorts hit a six-month high, while stock-futures exposure remained net long. With Nifty near key long-term support and market breadth weakening, analysts advise caution.
Sebi Chairman Tuhin Kanta Pandey said the regulator is not currently considering self-listing or self-trading of exchange shares, days after NSE CEO Ashish Kumar Chauhan suggested exploring the possibility. Pandey said no Sebi panel is discussing the proposal at present, while Chauhan had cited conflict-of-interest concerns but said the idea could be revisited as the market ecosystem matures.
The euro has fallen nearly 2% in September as energy prices, political uncertainty and a stronger dollar weigh on the currency. Concerns over German and French politics, rising borrowing-cost spreads and elevated European gas prices threaten growth. ECB rate expectations offer some support, but markets remain cautious about further euro weakness.
European shares were set for their first monthly decline in six months as Middle East tensions, higher energy prices and rising bond yields heightened inflation and interest-rate concerns. The STOXX 600 gained 0.7% but remained on track for a September loss. Mining stocks advanced, while investors awaited key European inflation data.
Tejas Mk1A accounts for 43% of HAL’s order book and could emerge as a key re-rating trigger as deliveries gain visibility, Jefferies said. HAL CMD Ravi Kota expects to deliver 10 aircraft this year, ahead of Jefferies’ earlier estimate of five. The brokerage retained its Buy rating with a Rs 6,800 target.
Inox Clean Energy has filed for a Rs 10,000-crore IPO, comprising a fresh issue of up to Rs 8,000 crore and an OFS of up to Rs 2,000 crore, as it expands its renewable power and solar manufacturing business.
Japan’s 10-year government bond yield is poised for a fifth consecutive quarter of double-digit gains, reflecting global bond-market pressure and concerns over Japan’s fiscal outlook. Mid-term yields are influenced by expectations of a possible October Bank of Japan rate hike, though market-implied odds have declined amid changing U.S. rate expectations and yen pressures.
China’s factory activity returned to growth in September, with the official manufacturing PMI rising above the expansion threshold. Strong production and AI-linked demand supported the rebound, though weak domestic demand, employment and property activity remained concerns.
Bank shares have endured steep declines as investors brace for imminent interest rate hikes from the RBI. Some analysts suggest that the recent selloff may be excessive, presenting an opportunity to pick up quality stocks at lower prices. The forthcoming Monetary Policy Committee meeting will clarify the scope of any rate changes. Although there are immediate margin concerns, the overall asset quality in the banking sector remains stable.
India Inc is likely to see a dip in earnings performance for Q2 in comparison to Q1, with analysts forecasting a growth slowdown of roughly 13-14%. Rising costs and margin pressures are key contributors to this trend. As base effects normalize, sectors such as lending financials, manufacturing, and capital goods are projected to bolster earnings, highlighting the importance of monitoring business improvements amidst fluctuating costs.
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