NEWS UPDATE 7 OCTOBER

📈 Market Snapshot & Themes

• Indian equities opened higher, riding positive sentiment from lending reforms and strong corporate updates ahead of the Q2 earnings season. The Economic Times+3Reuters+3The Economic Times+3
• The Sensex gained over ~300 points, while the Nifty 50 crossed ~ 25,150 in early trade. The Economic Times+2Reuters+2
• Broadly, 13 of 16 major sectors advanced. Mid-cap and small-cap indices also participated in the rally. Reuters
• Key sectors driving gains: financials, oil & gas, auto, and metals. Moneycontrol+2Business Standard+2
• On the flip side, some weakness was seen in parts of IT, retail, and consumer goods stocks. Business Standard+2The Economic Times+2

🔍 Stocks & IPOs in Focus

• Lenskart got regulatory approval to launch its IPO — it would be India’s first listed pure eyewear firm. Reuters
• Canara HSBC Life Insurance has set its IPO price band at ₹100 – ₹106 per share, targeting ~₹10,000 crore valuation. The Times of India
• LG Electronics India IPO opens today (7 Oct) and runs through Oct 9 via an OFS (i.e. existing shares). The Economic Times
• Tata Capital has already secured $523 million from anchor investors ahead of its IPO. Reuters
• Among individual stock calls, Chandan Taparia recommends BSE, Polycab India, and IIFL Finance as buys (with respective stop loss / target suggestions). mint
• Technical analysts see immediate support for Nifty near ~24,900 and resistance around 25,300–25,400. mint+2Business Standard+2

🌐 Macro / External Drivers

• The rupee is expected to open slightly stronger, aided by intervention from the Reserve Bank of India (RBI) and anticipated foreign inflows. Reuters
• Global cues remain mixed, but positive cues from U.S. markets and stable crude oil prices are helping sentiment. Reuters+2Reuters+2