Latest Stock Market News

Wall Street dipped as mixed earnings, notably Netflix s miss, and potential U.S. export curbs on China-bound tech goods soured investor mood. Tech and communication stocks led the decline. Despite some disappointing corporate results, overall earnings season remains strong, with many companies exceeding expectations, though those faltering face investor impatience.

Oil prices surged over $1 per barrel as the U.S. imposed sanctions on Russian oil giants Rosneft and Lukoil, citing their funding of the Ukraine war. This action follows similar measures by Britain and a new EU sanctions package banning Russian LNG imports.

The dollar is trading higher against major currencies. Traders are awaiting U.S. consumer inflation data. Tariff threats between Washington and Beijing are also being considered. The yen has weakened due to expectations of a stimulus package from Japan s new Prime Minister. Sterling is under pressure after British inflation data remained steady. Markets are anticipating interest rate cuts from the U.S.

Gold prices dipped slightly on Thursday as a stronger dollar and anticipation of key U.S. inflation data influenced investor sentiment. Markets are closely watching the upcoming CPI report for clues on the Federal Reserve s interest rate trajectory, with a rate cut largely expected next week.

Infosys Rs 18,000 crore share buyback is drawing attention as promoters, including founders, will not participate. This move, offering a 19% premium, will slightly increase promoter stake to 13.37%. The company continues its capital return policy, marking its fourth buyback since 2017, aiming to distribute surplus funds to shareholders.

As FIIs exit India’s IT sector, mutual funds are stepping in. Foreign investors pared stakes in eight of the top 10 IT stocks, including Infosys, TCS, HCL Tech, and Tech Mahindra, during the September quarter. Domestic fund managers, however, bought nine out of ten, with Persistent Systems, Tech Mahindra, and Coforge seeing the sharpest divergence in holdings.

Indian government bonds are poised for a slight increase, mirroring a rally in U.S. Treasuries amid a lack of new domestic debt issuance. Traders anticipate the benchmark 10-year yield to trade between 6.48% and 6.52%. Meanwhile, global economic flux presents challenges, though India s economy shows resilience, with the RBI raising its growth forecast.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe.

Shares of Bharat Electronics Limited (BEL) are expected to draw attention on October 23 following a Rs 633 crore order from Cochin Shipyard Limited. The order, disclosed in a regulatory filing, involves the supply of sensors, weapon systems, fire control systems, and communication equipment, reinforcing BEL’s role in strategic defense manufacturing.