Latest Stock Market News

ET had reported on October 9 that German lender Deutsche Bank had received approval from BaFin to carry on transacting with the Clearing Corporation of India (CCIL) beyond an October 31 deadline. CCIL hosts the platform for trade in Indian government bonds. Among European banks with operations here, Deutsche Bank is a large player in the bond and swap markets as well as a key provider of custodian services for international clients.

CEO K Krithivasan cited “some signs of improvement, most notably in financial services in North America,” acknowledging that the “demand outlook continues to remain cautious”, on an analyst call after earnings were announced. A planned press conference was cancelled due to the death of Ratan Tata.

A gauge of US-listed Chinese companies advanced Thursday, echoing gains in China in the prior session, as investors shifted their focus to a key meeting on fiscal policy this weekend. Hong Kong markets are closed for a holiday on Friday.

Mazagon Dock Shipbuilders announced the receipt of a purchase order from Maharashtra State Power Generation for the supply, installation, and commissioning of an AI-based project.

Oil prices dipped slightly after a Thursday rally, with both Brent and WTI still set for weekly gains. Investors are weighing hurricane damage on U.S. fuel demand against potential Israeli retaliation against Iranian oil sites. The situation remains tense, impacting market stability.

The U.S. dollar declined from two-month highs due to weak labor market signals, suggesting quicker Federal Reserve rate cuts. Despite the fall, the dollar is set for its second weekly advance after strong payrolls. Market bets for a quarter-point rate cut in November increased, and recent CPI data indicates a need for restrictive monetary policy to control inflation.

Market closes in the red with IT and Pharma sectors under pressure, while Financials show strength. Nifty50 experiences a sharp correction, testing lows amid geopolitical concerns and foreign fund outflows. Analysts suggest a cautiously bullish outlook if Nifty remains above 24,700, with potential targets around 25,600-25,700.

Six companies, including Just Dial, are set to announce their second-quarter results on Friday. Analysts predict this quarter might be the weakest in four years for corporate India, with Nifty earnings projected to grow by just 2%. Just Dial is anticipated to show a 75% rise in profit year-on-year, driven by growth in paid campaigns and improved EBITDA margins.