Latest Stock Market News

“This quarter would be good across most of the hospitality names and the next two quarters are going to be extremely good. We think that the best participant would be Indian Hotels followed by Lemon Tree. I think these are the two names where you have a fair amount of growth visibility.”

JP Morgan said India offers the strongest emerging market nominal GDP compounding (demographic trends, infrastructure investment needs) and has competitive risk-adjusted returns to developed market equities. A deeper domestic bond market should support lower risk premia, it said.

"Ironically, while the numbers are strong they exacerbate investor concerns about the Fed staying higher for longer with respect to interest rates," Bassuk added.

The U.S. dollar index steadied at 106.57, having hit a three-week high of 106.89 in the previous session, and was on track for a weekly gain of about 0.4%.

Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world.

Robert McNelly has seen conflicts from up close. He was the former senior energy advisor on both the National Economic Council as well as the National Security Council of George Bush Junior’s White House administration and between 2001-09, Robert was part of the US government that saw the 9/11 attacks on the Twin Towers, which eventually led to the 2nd Gulf War.

An email sent to the RBI seeking comment for the story remained unanswered till press time. In an unexpected step, RBI Governor Shaktikanta Das said on October 6 that the central bank would hold open market bond sales to drain out excess liquidity in the banking system. The yield on the 10-year benchmark government bond has since climbed as much as 16 basis points to a seven-month high of 7.38%, inflating borrowing costs for the Centre, and corporates.

Jindal (India) has submitted a debt resolution plan for Future Enterprises under the Insolvency and Bankruptcy Code (IBC) process. The company will be against Reliance Retail, which has sought time till October 30 to decide if it wants to bid for Future Enterprises.

Commercial vehicle loan disbursements increased 14%, construction equipment 22%, and micro medium and small enterprises (MSMEs) increased 30% year-on-year.

Fears that the Hamas-Israel conflict may widen into a bigger regional turmoil added to the negative sentiment. The fall in global crude prices did not aid sentiment.