Latest Stock Market News

The second quarter earnings season sees the announcement of results from 25 companies, including HDFC Life and HDFC AMC. HDFC Life is expected to report a 17-26% YoY increase in APE, ranging from Rs 3,550 crore to Rs 3,834 crore, with VNB estimated between Rs 900-978 crore.

Twelve stocks including Chambal Fertilizers, GNFC, and Granules India are under F&O trade ban, as their open interest exceeds 95% of MWPL. The ban will lift once the interest drops below 80%. Meanwhile, Indian stock indices closed higher, with Nifty surging 0.7% and Sensex up 0.73%.

Federal Reserve Governor Christopher Waller calls for a more cautious approach to interest-rate cuts, citing recent economic data showing strong U.S. economy and labor market. Waller highlights the importance of gradual rate reductions while monitoring inflation, labor market, and economic activity data. He anticipates job growth moderation and potentially maintaining historically low unemployment rates.

Angel One reports a stellar Q2FY25 with a 39% rise in net profit to Rs 423 crore and a 44.5% growth in total revenue from operations to Rs 1,515 crore. The brokerage also added 30 lakh clients, boosting its client base to 27.5 million.

National Insurance Company faces an ₹8,000 crore solvency shortfall, with a negative 0.49% solvency margin against the regulatory minimum of 1.5%. The insurer plans to address the gap by liquidating key assets, including stakes in Agriculture Insurance Company and India International Insurance Singapore, pending necessary approvals.

An expanded RTGS using major trade currencies would accelerate access to cheaper cross-border payments and remittances. The RBI has often spoken of the need for more cost-effective cross-border payment systems, with deputy governor T Rabi Sankar stating in September 2023 that the prevailing high costs for cross-border remittances were "simply unconscionable".

The grey market premium - the price over the IPO price in the unofficial market that investors pay for the shares before listing - for Hyundai was at ₹30 on Monday evening or 1.5% above the upper end of the issue price band of ₹1,865 to ₹1,960. The ₹27,870 crore issue opens on Tuesday and closes on Thursday. The grey market premium for Hyundai shares was at ₹370 on October 4.

​​New World Fund, Government of Singapore, ICICI Prudential Bluechip Fund, HDFC Flexi Cap Fund, SBI Automotive Opportunities Fund, SBI Magnum Global Fund, Fidelity Funds, Nippon India Growth Fund, SBI Life Insurance, HDFC Life Insurance, Government Pension Fund Global and Kotak Flexicap Fund were among the anchor investors.

The rupee closed at 84.06 to the dollar, flat versus the previous close, LSEG data showed. The rupee weakened past the psychologically significant 84/$1 mark for the first time on Friday as several unfavourable global factors including a recent rise in crude oil prices, a stronger US dollar and risk aversion sparked by the war in West Asia pushed the domestic currency past the key level.