NEWS UPDATE 9 OCTOBER
India / Domestic Highlights
- Indian equities opened on a muted to slightly positive tone. The Nifty 50 and Sensex inch higher, supported by gains in IT stocks—particularly TCS, which rose ≈ 0.2% ahead of its Q2 results. But financials dragged, falling ~0.3%, as profit-booking set in. Business Standard+3Reuters+3Moneycontrol+3
- Metal stocks led among gainers, rising ~1.6%, helped by supply concerns. Reuters
- Broader market indices (mid-caps, small-caps) also saw modest upside. Reuters+1
- Analyst Vaishali Parekh recommends CESC, EMIL, and RBL Bank as buy ideas on 9 Oct, with support & resistance levels for Nifty and Bank Nifty highlighted. mint
- Another recommendation list from Aakash K Hindocha names Amber Enterprises India, BSE, and Hindustan Zinc as top picks today. The Times of India
- Tejas Networks grabbed attention after launching an indigenous 64T64R Massive MIMO Radio (Ojas64), which may bolster its prospects in telecom/5G infrastructure. The Economic Times
- Gold ETFs in India hit a record US$10 billion AUM, driven by strong inflows in September—a sign of investor interest in safe havens amid market uncertainty. Reuters
- The upcoming Canara Robeco IPO (price band ₹253–₹266) is also in focus, opening for retail subscription today. Reuters
- Tata Investment Corporation shares have pulled back ~9% in October after a steep rally in September. The Economic Times
🌐 Global / Macro & Thematic Trends
- Oil prices slipped (~0.5%) as Israel and Hamas agreed to a ceasefire framework, reducing conflict risk premium in the Middle East. Reuters
- Global financial authorities, including the IMF and Bank of England, cautioned that the AI-driven rally may be overly exuberant, warning of potential abrupt corrections if optimism turns. Financial Times+1
- In the U.S., the S&P 500 and Nasdaq pushed to new highs, helping lift Asian markets. Bloomberg+3ABC+3Yahoo Finance+3
- Asian shares broadly gained, supported by the optimism from Wall Street and easing geopolitical tensions. WTOP News+1
🔍 What to Watch / Risks & Drivers
- Earnings season in India: results from heavyweights (especially TCS) will be key for direction. Business Standard+2mint+2
- Valuation risk in tech / AI space is rising, with comparisons to the dotcom bubble being flagged by regulators and analysts. Financial Times+1
- Foreign flows may play a decisive role—FPIs (Foreign Portfolio Investors) had turned net buyers after a string of outflows. Reuters
- Macro / global cues (e.g. U.S. interest rates, inflation, geopolitical developments) will likely sway sentiment.
