Business
Indices tumble in opening session as high inflation in US trigger selloff

Domestic equity indices extended their losses from the previous week and tumbled even sharply on Monday as high inflation in the US triggered possibilities of even more aggressive policy tightening by the Federal Reserve.
With Monday’s slump, the indices declined for six out of seven sessions.
At 9.42 a.m., Sensex was 2.7 per cent or 1,462 points down at 52,842 points, whereas Nifty 2.6 per cent or 419 points down at 15,782 points.
“The near-term market trend is weak. The May US inflation print at 8.6 per cent against the market expectation of 8.3 per cent is likely to turn the Fed more hawkish with a series of 50 bp rate hikes taking the terminal rate by mid 2023 above 3.5 per cent. Such a scenario would be negative for risky assets like equity, particularly in the context of declining global growth,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Most other Asian stocks also declined on Monday.
Business
Sensex, Nifty extend gains on buying in heavyweights

Mumbai, Oct 7: Indian stock markets continued their upward trend on Tuesday, supported by buying in major stocks such as ICICI Bank, ITC and more.
However, profit booking in select banking stocks limited the overall gains during the early trading hours.
The Sensex, which rose more than 100 points in early trade, was trading at 81,843, up 52 points or 0.06 per cent.
The Nifty also gained 34 points or 0.14 per cent to reach 25,112 after hitting an intra-day high of 25,140.
Among the top gainers on the Sensex were Power Grid, Bajaj Finance, HCL Tech, Bharti Airtel, ICICI Bank, Ultratech Cement, NTPC, Hindustan Unilever, Bajaj Finserv, and BEL, which rose between 0.3 per cent and 1.6 per cent.
On the other hand, Trent, Axis Bank, Tata Motors, TCS, SBI, Kotak Bank, Tech Mahindra, HDFC Bank, and Infosys were among the major losers, slipping up to 2.7 per cent.
In the broader market, the Nifty MidCap index gained 0.08 per cent, while the Nifty SmallCap index rose 0.41 per cent — showing continued interest from investors in smaller companies.
Among sectoral indices, Nifty Metal and Nifty IT were the top performers, each gaining 0.4 per cent.
The Nifty PSU Bank index was the worst hit, falling 0.3 per cent due to profit booking in public sector lenders.
Analysts said that overall market sentiment remains positive, though some volatility may persist due to profit-taking at higher levels.
“The ongoing mild rally in the market has the potential to gain momentum. The FII selling in India is slowly declining since the sharp appreciation in other markets has pushed up their valuations and the valuation differential between India and other markets has come down,” analysts said.
“Since there is huge short position in the market any positive news can trigger short-covering, further aiding the rally,” they added.
Business
PM Modi to inaugurate India Mobile Congress 2025 on October 8

New Delhi, Oct 6: Prime Minister Narendra Modi will inaugurate the India Mobile Congress (IMC) 2025, Asia’s premier telecom and technology event, on October 8 in the national capital, Ministry of Communications said on Monday.
The four-day mega event, themed “Innovate to Transform,” will run till October 11 and is expected to showcase India’s growing leadership in the global digital and telecom space.
Union Minister for Communications Jyotiraditya M. Scindia visited the IMC 2025 venue to review the final preparations ahead of the Prime Minister’s inauguration.
Scindia also travelled to the venue and back via the Airport Metro, symbolising India’s push for modern and sustainable urban transport.
During his visit, the minister toured the exhibition area, interacted with participating startups and exhibitors, and chaired review meetings with senior officials from the Department of Telecommunications (DoT), the Cellular Operators Association of India (COAI), and other partner agencies.
Speaking to the media, Scindia said that IMC 2025 would mark a new era in global connectivity, where technologies like 5G, 6G, artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), and satellite communications would come together to shape the future.
He emphasised that the event reflects Prime Minister Modi’s vision of a self-reliant and innovative India that connects not only within but also with the world.
IMC 2025 is expected to attract more than 1.5 lakh visitors, 7,000 delegates from over 150 countries, and 400 exhibitors spread across 4.5 lakh square feet.
The event will also feature over 1,600 technology demonstrations and 100 sessions with more than 800 speakers discussing the latest developments in telecom and digital innovation.
Highlighting the scale of the event, Scindia said that IMC has grown from being a national platform to becoming a global technology congress that represents India’s digital leadership.
He added that the 2025 edition will include six major global summits — covering 6G research, artificial intelligence, cybersecurity, satellite communications, startups, and the Global Startup World Cup — India Edition.
The minister also underlined India’s achievements in the telecom sector, noting that the country now ranks among the world’s top three digital economies with 1.2 billion mobile subscribers, 970 million internet users, and the fastest-ever 5G rollout completed in just 22 months.
Business
Sensex rises 583 points, Nifty tops 25,000 as IT and banking stocks lead rally

Mumbai, Oct 6: The Indian stock markets continued their winning streak for the third straight session on Monday, driven by strong buying in the IT and banking shares.
The benchmark Sensex jumped 582.95 points, or 0.72 per cent, to close at 81,790.12, while the Nifty rose 183.4 points, or 0.74 per cent, to end the day at 25,077.
“From a technical perspective, Nifty has successfully broken above the key psychological and technical resistance level of 25,000, turning the structure decisively positive,” analysts said.
“Any dip toward the 25,000 zone is expected to act as a strong support level, with immediate resistance seen at 25,200 and 25,500,” they added.
The Bank Nifty also delivered a stellar performance, opening with a gap-up and maintaining its upward trajectory through the session.
The index surged past 56,100, hitting an intra-day high of 56,164, with next resistance levels seen at 56,300–56,500, and support placed around 55,821–55,500, experts stated.
Broader markets also joined the rally, with the Nifty Midcap 100 gaining 0.89 per cent and the Nifty Smallcap 100 inching up 0.28 per cent.
In the Sensex pack, TCS, Tech Mahindra, Eternal, Axis Bank, and Bajaj Finance were the top performers, climbing as much as 3 per cent.
Meanwhile, Trent, Tata Steel, Power Grid, and Titan ended the session with losses. Among sectors, IT stocks led the gains as the Nifty IT index surged 2.28 per cent.
The Nifty Private Bank, Financial Services, and Healthcare indices also closed in positive territory.
On the other hand, Metal, FMCG, and Media shares came under pressure, slipping up to 1 per cent.
Market experts said the upbeat sentiment in IT stocks and strong institutional buying supported the overall market momentum.
“The domestic equity market ended the session on a positive note, led by gains in the financial services and IT sectors, ahead of the Q2 results,” they said.
“The banking index outperformed, bolstered by strong quarterly updates announced by large scheduled banks and attractive valuations, while hospital stocks surged following the revision of CGHS rates,” market experts added.
-
Crime3 years ago
Class 10 student jumps to death in Jaipur
-
Maharashtra1 year ago
Mumbai Local Train Update: Central Railway’s New Timetable Comes Into Effect; Check Full List Of Revised Timings & Stations
-
Maharashtra12 months ago
Mumbai To Go Toll-Free Tonight! Maharashtra Govt Announces Complete Toll Waiver For Light Motor Vehicles At All 5 Entry Points Of City
-
Maharashtra1 year ago
False photo of Imtiaz Jaleel’s rally, exposing the fooling conspiracy
-
National News12 months ago
Ministry of Railways rolls out Special Drive 4.0 with focus on digitisation, cleanliness, inclusiveness and grievance redressal
-
Maharashtra11 months ago
Maharashtra Elections 2024: Mumbai Metro & BEST Services Extended Till Midnight On Voting Day
-
National News1 year ago
J&K: 4 Jawans Killed, 28 Injured After Bus Carrying BSF Personnel For Poll Duty Falls Into Gorge In Budgam; Terrifying Visuals Surface
-
Crime12 months ago
Baba Siddique Murder: Mumbai Police Unable To Get Lawrence Bishnoi Custody Due To Home Ministry Order, Says Report