Current Events

Nifty fell 1.64% to close at 22,231.80, while the Sensex declined 1.44% or 1,045.46 points to 71,593.24

This is the sixth such instance in 2026. The market opening-at-day-high occurred six times in 2023. In 2025 it happened five times, and in 2024 three times

Indian markets plunged on Thursday as RBI policy tightening, persistent FII selling, rising bond yields and rupee weakness battered sentiment. The Nifty hit a 52-week low of 22,179, while the Sensex fell 1,045 points, wiping out over Rs 10 lakh crore.

Higher bond yields aren’t only about inflation and the Iran war. But it means a higher cost of capital.

Indian markets remained under pressure as hawkish RBI policy, persistent FII outflows, rising bond yields and rupee weakness weighed on sentiment. Amid the sell-off, analysts identified Brooks Laboratories and Deepa Jewellers as medium-term opportunities based on bullish technical breakouts.

Seven Sensex stocks touched fresh 52-week lows as Indian equities suffered a sharp sell-off on Thursday. Mahindra & Mahindra and Maruti Suzuki fell around 12% each over the past month, while Bharat Electronics, Power Grid, NTPC and ITC also hit yearly lows.

Technology is the only one of the S&P 500’s 11 sectors that gained since Sept. 1, as Treasury yields have climbed to multi-decade highs.

Albert Edwards, well-known for his generally bearish views on equity markets, finds the economicbenefits of AI to be a promise rather than a reality at present.

Indian markets extended their sell-off as the RBI’s hawkish policy stance pressured rate-sensitive sectors and reset near-term valuations. The Nifty fell 1.64% to 22,231.80, while the Sensex dropped 1.46% to 71,593.24, with metals and realty leading losses.

Sensex, Nifty, Stock Price Highlights: Sensex tanked 1045.46 pts or 1.44% to end at 71,593.24, and Nifty 50 shed 371.25 pts or 1.64% to 22,231.80.

Rupee ends Thursday at 96.88 (provisional), down 13 paise

On October 8, shares of Adani Group experienced sharp declines amid a wider market downturn, with Adani Green Energy plunging by 10% and Adani Enterprises by 7%. Despite receiving a long-term rating upgrade from CARE Ratings, investor confidence remained shaky. Other subsidiaries, including Adani Power and Adani Ports, also witnessed losses, underscoring the market's inherent volatility and investor unease regarding the current economic climate.

IT sector emerges as lone bright spot

In India, commodities are steadily gaining traction as a crucial component of investment strategies. As investors diversify beyond conventional assets, they are discovering opportunities in gold, copper, and energy markets. Innovative financial products make it easy to engage in these commodities without the need for physical possession. Success demands a strong grasp of specific commodities and diligence in choosing regulated trading platforms.

Nine smallcap stocks that fell over 40% in 2025 have more than doubled in 2026, highlighting sharp turnarounds in investor sentiment and emerging as some of the year’s biggest multibagger stories.

Nifty 50 plunged below 22,200 to a fresh 52-week low as soaring oil prices, persistent FII selling and the RBI’s rate hike weighed on sentiment. Analysts expect near-term pressure to persist, with market direction likely hinging on Q2 earnings, corporate cash flows and key technical levels in the coming sessions.

Nifty 50 projected to post 27% earnings growth, its best performance in 17 quarters, Motilal Oswal says

Mastek shares witnessed an uptick on Thursday despite weak market sentiment after its UK subsidiary was selected by Staffordshire County Council for an AI-enabled Oracle Cloud transformation programme. The engagement will cover finance, procurement, human resources and payroll, with Mastek deploying its ADOPT AI platform as the council’s integrated cloud platform.

Cupid shares rose 3.76% to hit a high of Rs 356.90 on Thursday, extending their rally since the September 30 business update to around 16%. The stock has gained 238.78% in 2026 so far, sharply outperforming the Nifty 50, which is down 14% over the same period.

Nifty 50 firms’ net profit is ⁠forecast to rise about 20% year-on-year on average, based on brokerage estimates

Indian companies are projected to achieve profit growth during the September quarter despite various challenges affecting different sectors. Foreign investors are retreating from Indian stocks, impacting the benchmark Nifty 50 index's performance this year. Strong domestic demand and favorable conditions in certain sectors are expected to sustain earnings growth for many firms. Analysts believe that financials will be a significant driver of earnings, supported by healthy loan growth.

Nilesh Shah from Kotak Mutual Fund highlights the advantage of bear markets in uncovering robust investment opportunities. He points out that India's growth potential surpasses that of South Korea due to its remarkable talent pool and infrastructure. Shah advises diversifying portfolios with alternative investments like SIFs, credit AIFs, and global funds, suggesting that 15% to 20% be dedicated to international assets.

IT stocks rose on Thursday as investors turned their attention to TCS, which is set to kick off the Q2 earnings season. Analysts expect modest sequential revenue growth, while a favourable base and margin support could aid year-on-year growth. Currency tailwinds may also support margins across Indian IT services companies.

The regulator is encouraging broader participation through incentives, investor awareness initiatives and stronger communication on risks across the investment ecosystem.

December Brent oil futures were at $102.35, up by 2.15%, and November crude oil futures on WTI (West Texas Intermediate) were at $89.87, up by 1.80%

Polycab faces an insolvency petition, while Tata Power, Tata Steel and Airtel announce business updates; MRF gets tax relief, Ola advances its rights issue, and other companies report fundraising, orders, acquisitions, investments, partnerships and strategic moves

Jefferies has cut target prices for BSE, Turtlemint and several other non-lending financial stocks ahead of Q2 earnings, while retaining Buy ratings on most stocks in its coverage.

Sensex Nifty Down: On Thursday, there was a notable decline in the Indian stock market, marked by a drop of over 1.5% in both Sensex and Nifty. This downturn was attributed to the RBI's tightening policies and ongoing selling by foreign institutional investors.

RBI’s first rate hike in nearly four years has put the spotlight on banking stocks, with analysts divided on the near-term impact on margins. Jefferies sees large private banks such as ICICI Bank and Kotak Mahindra Bank as key beneficiaries, while Q2 earnings could offer clues on the sector’s outlook.

MSCI All Country World Index falls 0.2%, pulling further away from its record high after coming within 1.5% of the peak earlier this week

FIIs sold Rs 13,147 crore worth of financial services stocks in September, accounting for more than a third of their total equity outflow during the month. Banks and financials have remained the biggest target of foreign selling this year, with FIIs offloading Rs 1.15 lakh crore from the sector so far.

At the interbank foreign exchange market, the rupee opened at 96.71, then gained some ground to touch 96.65, registering a rise of 10 paise over its previous close

The market opened after the RBI raised the repo rate by 25 basis points to 5.50% on Wednesday and shifted its stance from 'neutral' to 'calibrated tightening'

Four NSE F&O stocks, including ITC and Anand Rathi Wealth, witnessed over 7% gain in futures open interest on October 7, according to StockEdge data. The surge signals fresh position building and increased trader activity across these derivatives contracts during the trading session.

Three Nifty 500 stocks, including Rainbow Children's Medicare, closed above their Volume Weighted Average Price on October 7, according to StockEdge technical data. The movement highlights strong intraday buying momentum, as closing prices outperformed average trading prices weighted by volume across the session.

The pattern is represented by a long white (or green) candlestick with no upper shadow and little or no lower shadow.