Author: Kairav Roy

Categories
Corporate

Sensex plunges 1,045 points as oil prices fuel market fears

Indian equities came under heavy selling pressure on Thursday as surging crude oil prices, a hawkish shift by the Reserve Bank of India and continued foreign fund outflows combined to unsettle investors. The Sensex plunged 1,045.46 points, or 1.44%, to close at 71,593.24, while the Nifty 50 dropped 371.25 points, or 1.64%, to 22,231.80.

The fall pushed both benchmarks to important lows. The Sensex ended at its weakest level since February 2024, while the Nifty closed at an almost 18-month low. During the session, the Nifty slipped to 22,179.90, its lowest level of the year.

The sell-off was broad-based, with investors worried that expensive crude could keep inflation elevated and make it harder for the RBI to ease monetary conditions. Brent crude prices climbed above $104 a barrel amid concerns over supply disruptions, adding another layer of uncertainty for an economy that imports most of its oil.

Higher crude prices are particularly important for India because they can increase the country’s import bill, put pressure on the rupee and raise costs for businesses and consumers. A prolonged rise in oil prices can also squeeze corporate margins and reduce expectations for economic growth.

The pressure was compounded by the RBI’s policy decision on Wednesday. The central bank raised its repo rate by 25 basis points to 5.5% and changed its policy stance from neutral to calibrated tightening. The shift surprised investors and fuelled expectations that interest rates could remain higher for longer if inflationary pressures intensify.

Rate-sensitive sectors were among the biggest casualties. Metals, real estate and oil and gas stocks faced sharp selling as investors reassessed the impact of higher borrowing costs on businesses.

Adani Enterprises emerged as one of the biggest losers on the Nifty, falling around 5.4%. JSW Steel and ITC also declined more than 4%. Other major laggards included Adani Ports, InterGlobe Aviation, Power Grid Corporation and Reliance Industries.

IT stocks, however, showed relative resilience. Infosys, Tech Mahindra and Axis Bank were among the very few Nifty 50 stocks to finish in positive territory. Infosys gained about 0.5%, while Tech Mahindra also closed higher. HCL Technologies and TCS were relatively better placed during the session, with investors focusing on the start of the September-quarter earnings season.

Tata Consultancy Services was closely watched ahead of its quarterly results, which were scheduled after market hours. The IT major’s performance and management commentary are expected to provide the first major indication of how corporate earnings are holding up amid a challenging global environment.

The limited number of gainers highlighted the extent of the market weakness. Only three Nifty 50 stocks ended higher, while 47 closed in the red.

The broader market also took a significant hit. The Nifty MidCap index fell about 2.5%, while the SmallCap index declined more than 2%. The weakness suggested that investors were reducing exposure to riskier assets rather than limiting selling to large-cap stocks.

Foreign investors added to the pressure. Foreign institutional investors remained heavy sellers, with net selling of more than ₹6,000 crore on Wednesday. Persistent overseas outflows have been a major concern for Indian markets in recent months and have made the benchmarks more vulnerable to global shocks.

The rupee also remained under pressure, trading close to ₹96.8 against the US dollar. A weaker currency can make India’s oil imports more expensive, creating another channel through which crude prices can feed into domestic inflation.

Global markets offered little relief. Rising US Treasury yields, concerns about inflation and weaker Asian equities added to the cautious mood. Investors are increasingly weighing the possibility that major central banks may have less room to cut rates if energy prices remain elevated.

The sharp fall also comes after a difficult stretch for Indian equities. The Sensex and Nifty have struggled to sustain recoveries, with foreign selling, high crude prices and concerns over interest rates repeatedly weighing on sentiment.

Still, the focus could gradually shift from macroeconomic worries to corporate earnings. The September-quarter results season is beginning, with TCS among the first major companies to report. Investors will be looking closely at revenue growth, margins, demand and management guidance.

The immediate market outlook, however, remains closely tied to crude oil. If oil prices remain above $100 a barrel for an extended period, investors could continue to worry about inflation, interest rates and corporate profitability.

Thursday’s sell-off showed how quickly those concerns can come together. With the Nifty now close to the 22,000 mark, the market enters the next phase of earnings season with investors looking for stronger corporate numbers to counter a difficult macroeconomic backdrop.

 

Categories
Leaders

Flipkart ex-CXOs seek fair deal on ESOPs

Former senior Flipkart executives have approached the board of parent company Walmart, asking for a chance to cash out their vested employee stock options as uncertainty continues over the e-commerce giant’s long-awaited initial public offering.

The group, which includes former Flipkart CEO Mukesh Bansal, former chief business officer Ankit Nagori and former CFO Sanjay Baweja, has asked Walmart for what it calls “fair and equitable treatment” for shares and options they earned while working at the company.

Their October 1 letter was addressed to Walmart chairman Gregory Penner, other board members and Flipkart Group CEO Kalyan Krishnamurthy. The former executives argue that leaving Flipkart should not automatically prevent them from accessing a liquidity opportunity, particularly when their employee stock options have remained vested for years.

The issue has gained importance because Flipkart’s India IPO plans remain uncertain. While Walmart has repeatedly said a public listing remains part of Flipkart’s strategic roadmap, the company has not provided a firm date.

For former employees who have held their ESOPs for a decade or more, the delay means waiting even longer to turn what was once compensation into actual cash.

The former executives were among Flipkart’s early senior employees, having received stock options during the company’s formative years between roughly 2008 and 2016. They argue that those options were an important part of their compensation when they joined and that they continued to hold the equity long after leaving the company.

Their request comes after Flipkart provided current employees with a partial opportunity to sell vested stock options. In July, eligible employees were allowed to cash out up to 5% of their vested options at ₹713.40 per option.

The former executives are not objecting to the programme for current employees. Their argument is that former employees who still hold vested equity should also be given an opportunity to realise its value.

More than 30,000 current and former Flipkart employees could collectively receive around $4 billion, or about ₹38,000 crore, through ESOP buybacks, according to sources cited by Moneycontrol. Former employees are estimated to account for roughly half of that amount.

That makes the issue considerably larger than a dispute involving a handful of former executives.

Employee stock options have played an important role in the growth of India’s technology and startup ecosystem. Instead of receiving only cash compensation, employees are often given the right to own or purchase shares in a company. If the business grows and eventually goes public or conducts a buyback, those options can become a significant source of wealth.

Flipkart employees have been waiting for precisely such an opportunity.

The company has been preparing for an eventual public listing for some time. It shifted its holding structure from Singapore to India, a move widely seen as an important step towards a domestic IPO. But the listing has repeatedly been pushed back.

In July, Krishnamurthy said Flipkart did not have a timeline for going public. Walmart has since reiterated that an IPO remains part of the company’s plans but said it would move ahead when the timing is right.

That uncertainty has become more noticeable as several other Indian consumer technology companies have moved towards the public markets.

Companies such as Swiggy and Meesho have already listed, while other new-age businesses have either begun the IPO process or moved closer to public markets. For Flipkart employees, the contrast is significant because a listing would provide a clear route to liquidity for their ESOP holdings.

The former executives also point to the fact that early investors and Flipkart’s founders have already had opportunities to realise their investments. They argue that former employees who helped build the company should not be left without a similar opportunity simply because they no longer work there.

The letter therefore frames the issue as one of fairness rather than preferential treatment.

The former executives include other senior names such as former Flipkart chief technology officers Amod Malviya and Ravi Garikipati, former chief people officer Mekin Maheshwari and former vice-president Anuj Chowdhary. Together, they represent an earlier generation of Flipkart leadership that helped build the company from its early e-commerce operations into a much larger digital commerce business.

Flipkart’s transformation has been substantial. The company expanded beyond its original bookselling business into electronics, fashion and other categories, acquired Myntra and Jabong, and eventually separated its payments business PhonePe into an independent company.

For those early employees, the ESOPs were part of the risk they accepted while working at a fast-growing private company. Many have now held the options for 10 to 15 years.

Walmart has acknowledged the concerns. A spokesperson said the company values the perspectives of current and former employees and would examine the issues raised in the letter. Walmart also reiterated that Flipkart’s IPO remains part of its strategic roadmap.

The pressure is not limited to former employees. Current Flipkart staff are also watching the situation closely, particularly as senior executives have left the company and questions over the timing of future ESOP liquidity events remain.

Reports indicate Flipkart has considered another employee liquidity programme that could allow eligible current employees to sell a larger portion of their vested options. However, such plans have not been finalised.

The broader challenge for Flipkart is now clear. Its employees have accumulated significant paper wealth, but without an IPO or sizeable buyback, that wealth remains difficult to access.

The former executives have therefore asked Walmart to provide a complete exit opportunity for eligible former employees holding vested options.

 

Categories
Corporate

Sensex falls 500 points, Nifty below 22,500

Indian stock markets came under heavy selling pressure on Thursday, with the Sensex falling more than 500 points and the Nifty 50 slipping below the 22,500 mark as investors reacted to the Reserve Bank of India’s latest policy signal, rising crude oil prices and continued foreign fund outflows.

The Sensex was trading below 72,000 around late morning, while the Nifty 50 fell below 22,400, extending the previous session’s decline. By around 11:30 am, the sharp sell-off had wiped nearly ₹7 lakh crore from the market capitalisation of companies listed on the BSE.

The weakness followed the RBI’s decision on Wednesday to raise the repo rate by 25 basis points to 5.50%, its first rate hike in nearly four years. More importantly for investors, the central bank changed its monetary policy stance from “neutral” to “calibrated tightening”.

The change has made the market more cautious because it signals that the RBI is prioritising inflation control and is not currently preparing for rate cuts. Higher interest rates can increase borrowing costs for companies and consumers, potentially affecting investment, housing demand and discretionary spending.

The RBI’s decision came at a difficult time for global markets. Brent crude climbed above $102 a barrel as concerns over supply disruptions in the Middle East and risks around the Strait of Hormuz continued to unsettle investors. Rising oil prices are particularly important for India, which depends heavily on imports to meet its energy requirements.

Higher crude prices can put pressure on inflation, widen the import bill and weigh on the Indian rupee. The rupee was trading close to ₹96.80 against the US dollar, near its record-low levels, adding another layer of uncertainty for domestic equities.

Foreign institutional investors also remained sellers. FIIs sold shares worth around ₹6,121 crore on Wednesday, while domestic institutional investors bought about ₹4,597 crore. The continued foreign selling has added to the pressure on the benchmark indices at a time when global bond yields and the dollar remain elevated.

The stock-specific action, however, offered a more mixed picture. IT stocks stood out on an otherwise weak trading day. Tech Mahindra, HCL Technologies, Tata Consultancy Services and Infosys were among the top gainers, rising as much as 2% and providing some support to the indices. Titan also featured among the gainers.

The strength in technology shares comes as investors turn their attention to the September-quarter earnings season. TCS is scheduled to announce its results later on Thursday, making the IT sector one of the key areas to watch. The market is looking for signs of improving demand, deal wins and guidance from major software exporters.

On the other side, ITC, Adani Ports, IndiGo, Power Grid and Reliance Industries were among the biggest losers on the Sensex, with several of these stocks falling sharply. ITC was down around 3%, making it one of the most prominent drags on the benchmark.

The broader market also reflected the risk-off mood. Mid-cap and small-cap stocks came under pressure, with the Nifty Midcap 100 and Nifty Smallcap 100 falling as much as 2%. Sectorally, metals were among the worst hit, with the Nifty Metal index declining around 3%. Realty, oil and gas and other rate-sensitive segments also faced selling pressure.

Market breadth remained firmly negative, showing that the selling was not restricted to a handful of heavyweight stocks. More than 2,600 stocks were in the red on the NSE, compared with fewer than 700 advances around late morning.

Analysts are now watching the 22,400-22,500 zone closely for the Nifty. A decisive break below this support could increase selling pressure and bring 22,300 into focus. On the upside, 22,800 remains an important hurdle for the index. A sustained move above that level could improve sentiment and reopen the path towards 23,000.

The immediate direction of the Indian stock market is likely to depend on a combination of factors: the trajectory of crude oil, the rupee’s movement, foreign institutional flows, global bond yields and the first set of corporate earnings. With the RBI now signalling a tighter policy approach, investors are likely to remain selective rather than chase a broad market recovery.

The focus will increasingly shift to corporate earnings, particularly from large IT companies. Strong results and positive management commentary could provide some relief to Dalal Street, but sustained recovery in the Sensex and Nifty will require greater clarity on inflation, oil prices and global geopolitical risks.

 

Categories
Beyond

RBI hikes repo rate by 25 basis points

The Reserve Bank of India has raised the repo rate by 25 basis points to 5.50%, marking the first increase in the key policy rate since February 2023. The move is set to affect borrowing costs across the economy, with households, businesses and interest-rate sensitive sectors likely to feel the impact.

The decision by the Monetary Policy Committee (MPC) comes against a backdrop of renewed inflation concerns, higher crude oil prices and uncertainty in global markets. The central bank has also shifted its policy stance from “neutral” to “calibrated tightening”, signalling a greater focus on containing price pressures.

The most immediate impact will be felt by borrowers with floating-rate loans. Home loans linked to external benchmarks such as the repo rate are likely to become more expensive as lenders pass on the increase. New borrowers could also face higher interest rates as banks revise their lending rates.

The actual impact on a borrower’s monthly repayment will depend on the lender, loan benchmark, outstanding principal, existing interest rate and remaining tenure. A 25-basis-point increase may look modest, but even a small change can add considerably to the total repayment cost when applied to a large loan over several years.

A borrower with a ₹50 lakh home loan and 20 years remaining, for example, could see the monthly EMI rise by several hundred rupees if the full rate increase is passed through. The additional burden would be higher for someone with a ₹1 crore loan. The exact increase will vary depending on the existing rate and the lender’s reset mechanism.

Banks can respond to the rate increase in different ways. Some may raise the monthly EMI while keeping the repayment period unchanged. Others could keep the EMI broadly stable and extend the loan tenure. While the latter option may offer short-term relief, a longer tenure can increase the total interest paid over the lifetime of the loan.

Borrowers should therefore look beyond the EMI when assessing the impact of the rate hike. The revised interest rate, outstanding principal, remaining tenure and total interest payable will provide a clearer picture of the additional financial burden.

Existing fixed-rate borrowers are generally insulated from an immediate change in their loan rates. However, people seeking fresh fixed-rate loans or refinancing options could find borrowing costs less favourable as lenders adjust to the new interest-rate environment.

The effect will extend beyond housing. Auto loans and other floating-rate consumer loans could also become more expensive. Higher financing costs may make consumers more cautious about purchasing cars, two-wheelers and other high-value products, particularly if interest rates remain elevated for a prolonged period.

The stock market reaction has been mixed, reflecting the different ways sectors respond to higher rates. Banking shares have remained relatively resilient as investors assess the possibility of stronger lending yields.

Higher lending rates can support banks if loan rates rise faster than their funding costs, potentially improving net interest margins. The benefit, however, is not automatic. Banks may also have to pay more to attract deposits, particularly in a competitive environment where customers seek better returns on their savings.

The profitability impact will therefore depend on several factors, including loan growth, deposit costs, credit demand and asset quality.

Auto and real estate stocks face a different equation. The Nifty Auto index came under pressure as investors assessed the possibility of weaker vehicle demand resulting from higher financing costs. Automobiles, particularly two-wheelers and passenger vehicles, depend heavily on consumer credit.

Real estate companies are similarly sensitive to interest rates. Higher home-loan costs can affect housing affordability and cause potential buyers to postpone purchases. The impact could be more visible in segments where buyers are particularly dependent on mortgage financing.

Developers may also face higher borrowing costs when financing construction and expansion projects. This could influence project timelines, margins and new launches if rates remain high.

The latest policy decision also provides an important signal about the RBI’s approach to inflation. The move from a neutral stance to calibrated tightening suggests that the central bank is prepared to maintain tighter financial conditions if price pressures persist.

That shift could influence investor preferences. Companies with strong cash flows, manageable debt and resilient demand may be better placed to withstand a higher cost of capital. Highly leveraged businesses, meanwhile, could face greater pressure on profitability and expansion plans.

Despite the rate increase, the RBI remains confident about India’s growth prospects. The central bank has raised its FY27 growth forecast to 7.1%, indicating expectations of continued economic momentum even as monetary conditions become tighter.

The combination of strong growth and rising rates creates a mixed environment for businesses. Banks could gain from higher lending yields, while companies dependent on cheap credit may need to reassess investment and expansion plans. Consumers, meanwhile, may become more selective about large purchases.

The latest rate hike is also a reminder for home-loan borrowers to review their finances. Checking the revised interest rate, comparing refinancing options and considering partial prepayment can help reduce the long-term impact where financially feasible.

The key question now is whether the 25-basis-point increase will remain a one-time adjustment or become the beginning of a broader tightening cycle. Future decisions will depend largely on inflation, crude oil prices, global financial conditions and the strength of domestic demand.

Until those signals become clearer, borrowers and businesses will need to prepare for a financial environment where the era of steadily falling interest rates may be giving way to a period of higher borrowing costs.

 

Categories
Corporate

Sensex falls 460 points, Nifty drops 22,600

Indian benchmark indices opened sharply lower on Wednesday, with the Sensex falling 460 points and the Nifty declining nearly 165 points as investors turned cautious ahead of the Reserve Bank of India’s monetary policy decision. Rising crude oil prices, continued foreign fund outflows and weakness across several heavyweight stocks added to the pressure in early trade.

The 30-share BSE Sensex fell 460 points to 72,599.05 in early trade, while the 50-share NSE Nifty declined 164.80 points to .85. The sell-off came after the indices had gained in the previous two sessions, prompting investors to lock in some profits while awaiting the RBI’s decision on interest rates.

The market later recovered significantly from its morning lows, helped by buying in banking stocks.

The RBI’s policy announcement became the biggest trigger for the market during the session. The central bank raised the repo rate by 25 basis points to 5.50%, marking its first rate increase in nearly four years. It also shifted its policy stance from neutral to calibrated tightening, signalling that further action could depend on inflation and economic growth.

The rate hike had been largely expected by investors, limiting the negative reaction after the announcement. Banking stocks, which had been under pressure in early trade, turned stronger as investors assessed the impact of higher interest rates on lenders.

Private-sector banks gained around 0.4%, while public-sector banks rose nearly 0.8%. Kotak Mahindra Bank, ICICI Bank and Axis Bank were among the key gainers and helped the broader market recover from its lows.

Higher lending rates could support bank margins initially, particularly for loans linked to external benchmarks. However, investors will also watch deposit costs and credit demand as banks adjust to the tighter interest-rate environment.

Kotak Mahindra Bank and ICICI Bank were among the leading gainers, while Titan and Asian Paints were among the major losers. Bharat Electronics, Maruti Suzuki and Mahindra & Mahindra also faced selling pressure.

Titan remained under pressure after the company reported slower jewellery growth during the September quarter. The timing of the festive season affected consumer purchases, raising concerns about near-term demand momentum. The stock’s weakness added to the pressure on the benchmark indices.

Crude oil prices provided another reason for caution. Brent crude was trading around $101.6 a barrel, keeping concerns about inflation and India’s import bill in focus. Higher oil prices can raise input and transportation costs for companies while putting pressure on the country’s external finances.

Foreign investor selling has also remained a major concern for the market. Foreign Institutional Investors sold Indian equities worth ₹2,961.30 crore on Tuesday. Domestic institutional investors have continued to provide some support, but persistent foreign outflows have made it difficult for the market to sustain strong rallies.

The broader market has already experienced a prolonged period of weakness, with Indian equities declining for eight consecutive weeks. The correction has created opportunities for bargain hunters, but investors remain cautious about making aggressive bets until there is greater clarity on interest rates, global markets and corporate earnings.

On the technical front, the 22,500-22,600 region remains an important support zone for the Nifty. A decisive break below 22,550 could push the index towards 22,400 and 22,200. On the upside, 22,850-23,000 remains an important resistance area. A sustained move above 23,000-23,100 could signal a stronger recovery.

The RBI’s economic outlook offered some comfort to investors. The central bank raised its FY27 real GDP growth forecast to 7.1%, up 40 basis points from its earlier projection. It also marginally increased its core inflation estimate to 4.4% from 4.3%.

The combination of stronger growth expectations and tighter monetary policy suggests that the RBI remains confident about the underlying economy while keeping a close watch on inflationary pressures.

Wednesday’s market action showed the competing forces currently driving Indian equities. Higher rates, expensive crude and foreign selling are weighing on sentiment, while strong domestic growth, resilient banking stocks and lower valuations are encouraging investors to buy during sharp declines.

Investors will now watch whether the Nifty can hold the 22,500-22,600 support zone and whether banking stocks can sustain the recovery through the rest of the session.

Categories
Corporate

Sensex jumps 685 points, Nifty reclaims 22,750 level

Indian equity markets extended their recovery on Tuesday, October 6, with the Sensex climbing nearly 700 points and the Nifty 50 reclaiming the 22,750 level as buying returned across banking, consumer, energy and pharmaceutical stocks. The rebound came a day after a strong recovery in domestic equities and offered some relief to investors following the sharp correction seen through September.

The BSE Sensex closed at 73,067.81, gaining 685.34 points, or 0.95%. The Nifty 50 settled at 22,776.10, rising 220.35 points, or 0.98%. The benchmarks moved higher through the session as investors responded positively to corporate business updates, supportive global cues and softer crude oil prices.

The rally was broad-based, although some sectors continued to struggle. Banking and financial stocks were among the biggest contributors, while consumer, energy and pharmaceutical shares also attracted buying interest. The broader market participated in the recovery, suggesting that investor appetite was not limited to a handful of large-cap stocks.

Trent emerged as one of the top gainers on the Nifty after the retailer reported a strong business update. The company posted a 23% increase in revenue, with continued expansion of its Zudio business supporting expectations of sustained growth. The stock gained sharply as investors focused on the company’s ability to maintain momentum in India’s competitive retail market.

Kotak Mahindra Bank was another major gainer, rising around 4%. The private sector lender reported a 24.7% year-on-year increase in net advances and 23.2% growth in deposits in its latest quarterly business update. The numbers provided a positive signal for the banking sector and helped strengthen sentiment around credit growth.

Hindustan Unilever, HDFC Life Insurance and SBI Life Insurance were also among the notable gainers. Buying in consumer and insurance stocks added strength to the benchmark indices and helped offset weakness in select technology and commodity counters.

Coal India, however, emerged as one of the biggest losers, falling more than 3%. Tech Mahindra also declined more than 2%, while Max Healthcare, ITC and Infosys were among other stocks that ended lower. Weakness in technology stocks remained a drag on the market, even as banking and other sectors gained.

The performance of bank stocks was closely watched because quarterly business updates from lenders are beginning to provide an early indication of the health of credit demand. Axis Bank and IndusInd Bank also reported healthy growth in advances, adding to optimism that lending activity remains resilient despite the recent market volatility.

The broader market also delivered a strong performance. The Nifty Midcap index gained around 1%, while the Nifty Smallcap index rose about 1.5%. A significant number of stocks across the Nifty 500 universe ended in positive territory. The participation of mid- and small-cap stocks indicated that investors were willing to take on more risk after the recent sell-off.

Sectoral trends were mixed but largely favourable. Banking, consumer durables, energy, infrastructure, metals, pharmaceuticals and oil and gas stocks advanced. The Nifty IT, Realty and PSU Bank indices, however, remained under pressure. Continued weakness in IT stocks reflected concerns around valuations and the outlook for technology companies.

Global market sentiment also provided support. Asian markets largely traded higher after Wall Street ended on a firm note in the previous session. US technology stocks had helped lift the Nasdaq, while positive global sentiment encouraged buying in risk assets. Domestic investors also benefited from some moderation in crude oil prices.

Crude oil remains a key variable for Indian markets because India imports a large share of its energy requirements. Brent crude stayed below the $100-per-barrel level, reducing some immediate concerns around inflation, the trade deficit and pressure on the Indian rupee. Any sharp rise in crude prices, however, could quickly change the market mood.

The rupee remained under pressure despite the equity market recovery. The Indian currency ended around ₹96.42 against the US dollar, compared with ₹96.30 in the previous session. Persistent foreign portfolio investor selling continued to weigh on sentiment.

Foreign investors sold Indian equities worth nearly ₹4,699 crore, while domestic institutional investors purchased shares worth around ₹5,182 crore. Strong domestic institutional buying helped absorb some of the selling pressure from foreign investors and provided an important cushion to the market.

Attention now shifts to the Reserve Bank of India’s monetary policy decision. Investors will closely track the central bank’s stance on interest rates, inflation, liquidity and economic growth. The policy guidance will be particularly important for banks, financial stocks and rate-sensitive sectors.

The upcoming quarterly earnings season is another major trigger for the market. Investors will be looking for evidence of stronger revenue growth, healthy margins and resilient consumer demand. Company-specific announcements and quarterly business updates are expected to influence stock movements in the coming sessions.

Despite Tuesday’s strong gains, analysts remain cautious about declaring a decisive change in the broader market trend. The Nifty faces resistance around the 22,900-23,000 zone, while the 22,600-22,400 range remains an important support area.

A sustained move above 23,000 could strengthen the recovery and encourage further buying, particularly if foreign selling eases and corporate earnings provide positive surprises. A fall below the support zone, on the other hand, could bring back selling pressure and test investor confidence.

Tuesday’s session nevertheless offered a welcome change after weeks of volatility. The Sensex’s 685-point rise and the Nifty’s return above 22,750 suggest that buyers are gradually returning to the market. The next few sessions will show whether this is simply a short-term rebound or the beginning of a more durable recovery in Indian equities.

Categories
Technology

Oppo F35 series launched in India

Oppo has launched its new F35 series in India, bringing two new 5G smartphones with a feature that could appeal strongly to users tired of reaching for a charger during the day: an 8,000mAh battery.

The new lineup includes the Oppo F35 5G and Oppo F35 Pro 5G, with both models combining large batteries, 80W fast charging and 50-megapixel ultra-wide selfie cameras. The launch also marks 10 years of Oppo’s F Series in India, with the company placing particular emphasis on battery life, photography, durability and everyday performance.

The Oppo F35 starts at ₹38,999, while the F35 Pro has a starting price of ₹45,999. The smartphones will go on sale from October 11 through Oppo’s online store, Flipkart, Amazon and authorised offline retailers across India.

The biggest common feature is the 8,000mAh battery. Both smartphones support 80W SUPERVOOC charging, giving users a combination of high battery capacity and faster charging. Oppo is also positioning the battery as a long-term feature, claiming that it can retain at least 80% of its capacity after six years under its laboratory testing conditions. Actual battery life, naturally, will depend on usage, network conditions and other factors.

The camera setup is another major highlight. Both F35 models come with a 50MP ultra-wide front camera with a 100-degree field of view and autofocus. The wider field is designed to make group selfies easier by fitting more people into a single frame without requiring users to stretch their arms or move further away.

Oppo is also using its Natural Tone technology to focus on more natural-looking skin tones in portraits. The company is targeting users who rely heavily on their front camera for selfies, video calls and social media content.

The F35 Pro takes the hardware a step further. It features a 6.78-inch 1.5K AMOLED display with a 144Hz refresh rate, compared with the 6.57-inch FHD+ AMOLED panel and 120Hz refresh rate on the standard F35. The Pro model also offers up to 3,600 nits of peak brightness, making it better suited to viewing content outdoors.

Under the hood, the F35 Pro is powered by MediaTek’s Dimensity 7360 MAX chipset, built on a 4nm process. It comes with up to 8GB RAM and 256GB storage. The standard F35 uses the Dimensity 6360 MAX processor and is available with up to 8GB RAM and 128GB storage.

Photography on the rear also separates the two models. The F35 Pro gets a 50MP main camera with optical image stabilisation (OIS) alongside an 8MP ultra-wide camera. OIS should help produce sharper photographs and steadier video, particularly in low-light conditions.

The standard F35 has a 50MP main rear camera paired with a 2MP secondary sensor. It retains the 50MP front camera, making the selfie experience one of the more prominent similarities between the two phones.

Durability is another area where Oppo is trying to make the F35 series stand out. Both smartphones carry IP66, IP68, IP69 and IP69K ratings, offering protection against dust and different levels of water exposure. Oppo has also highlighted its reinforced body design as part of its effort to make the phones more suitable for long-term everyday use.

The phones run ColorOS 16, Oppo’s latest Android-based software experience. The company has included several AI-powered tools, including AI Recording, AI Ultra-Clear Documents and AI Call Guard. These features are aimed at practical tasks such as recording conversations, improving document scans and helping users manage unwanted calls.

The F35 Pro is available in three configurations. The 6GB RAM + 128GB model costs ₹45,999, while the 8GB + 128GB version is priced at ₹49,999. The top-end 8GB + 256GB variant costs ₹54,999. The standard F35 is priced at ₹38,999 for 6GB RAM with 128GB storage and ₹42,999 for the 8GB + 128GB version.

The F35 series arrives at a time when smartphone buyers are increasingly looking beyond just processor speeds and camera megapixels. Battery endurance, durability, fast charging and longer software usability have become important factors in the mid-range and upper-mid-range smartphone market.

With its 8,000mAh battery, 50MP ultra-wide selfie camera and ruggedness claims, Oppo is clearly betting on those everyday priorities. The F35 Pro adds a sharper 144Hz display, a more capable processor and a more versatile rear camera system for buyers willing to spend more.

The real test will come once users get their hands on the phones from October 11. If the large battery delivers the endurance Oppo promises without making the devices excessively cumbersome, the F35 series could find a strong audience among Indian consumers who want a smartphone that can comfortably last through a demanding day.

 

Categories
Corporate

Sensex gains 400 points, Nifty rises past 22,650

Indian equity markets extended their recovery on Tuesday, October 6, as the Sensex and Nifty traded higher, supported by buying in banking, metal and other heavyweight stocks. The rally lifted the Nifty 50 above the 22,650 mark, while the Sensex advanced more than 400 points during the session, offering investors some relief after weeks of persistent selling.

The BSE Sensex was up 355.09 points, or 0.49%, at 72,737.56, while the NSE Nifty 50 gained 111.95 points, or 0.50%, to trade at 22,667.70 around 10.48 am, according to live market updates. The benchmarks extended their gains as buying interest spread across several sectors, although weakness in information technology and healthcare stocks limited the broader advance.

The recovery followed Monday’s positive close, when the Sensex rose 472.77 points, or 0.66%, to settle at 72,382.47. The Nifty gained 133.80 points, or 0.60%, to finish at 22,555.75, snapping a four-session losing streak. The back-to-back gains suggest that investors are cautiously returning to equities after a prolonged spell of volatility.

Trent, Kotak Bank lead the rally

Retail major Trent emerged as the standout performer among Nifty 50 constituents, climbing around 10% after its quarterly business update indicated strong revenue growth. The company reported a 23% year-on-year increase in revenue in its latest update, strengthening investor interest in the stock.

Kotak Mahindra Bank was another major gainer, rising around 3.6% following its quarterly business update. The bank reported a 23.2% increase in total deposits to ₹6.51 lakh crore, compared with ₹5.28 lakh crore a year earlier. Its gross advances also increased 22.7% to ₹13.84 lakh crore, while total deposits grew 20.7% at Axis Bank, supporting sentiment across the banking sector.

Hindustan Unilever, Axis Bank and Jio Financial Services were among the other gainers on the Nifty 50. HUL advanced around 1.6%, while Axis Bank and Jio Financial Services gained approximately 1.1% and 1%, respectively.

Banking stocks remained an important source of support for the benchmarks, with investors responding to quarterly business updates and improving buying interest in private-sector lenders.

Healthcare and IT stocks lag

The gains were not uniform across the market. Max Healthcare Institute and Apollo Hospitals were among the leading Nifty 50 laggards, falling approximately 2.4% and 2%, respectively. Cipla, Tech Mahindra and ONGC also traded lower.

Information technology stocks remained under pressure, making the sector one of the notable exceptions to the broader upward movement. Healthcare stocks also faced selling, indicating that investors continued to favour selected sectors and companies rather than buying indiscriminately.

The mixed performance highlights the selective nature of the recovery. While banking and retail shares attracted strong interest, concerns surrounding valuations, earnings prospects and the wider economic outlook continued to influence individual stocks.

Metals and banking stocks support markets

Sectoral performance remained largely positive through the morning. Metal stocks advanced, with the Nifty Metal index gaining close to 1%. Private banks, financial services, power and telecom shares also recorded notable gains. Energy, pharmaceuticals and public-sector banking stocks traded higher as well.

The Nifty Private Bank index rose close to 1%, reflecting strength in lenders such as Kotak Mahindra Bank and Axis Bank. The India VIX, a measure of expected market volatility, declined around 4%, suggesting some easing in near-term nervousness among investors.

Market breadth was positive, with 2,368 shares advancing against 1,218 declining and 194 remaining unchanged at around 10.48 am. The figures indicated that buying extended beyond a handful of heavyweight stocks.

Global cues and crude oil remain in focus

Overseas markets provided some support to domestic equities. Asian shares largely traded higher, while gains on Wall Street in the previous session helped improve sentiment. However, elevated US Treasury yields and uncertainty over the global interest-rate outlook continued to pose risks for emerging markets.

Crude oil prices remained near the $100-per-barrel level despite easing from recent highs. Improved supplies from the Middle East and efforts by major economies to strengthen energy availability helped reduce some concerns about a prolonged supply disruption. Nevertheless, geopolitical tensions continued to leave oil markets vulnerable to sudden price movements.

For India, elevated crude prices remain a concern because the country depends heavily on imported oil. A sustained increase could put pressure on inflation, the rupee and corporate margins, potentially complicating the outlook for equities.

RBI policy decision in focus

Investors are also preparing for the Reserve Bank of India’s upcoming monetary policy decision, due on Wednesday. Expectations surrounding interest rates, inflation and liquidity conditions are likely to influence market direction in the near term.

Foreign institutional investors have remained net sellers, while domestic institutional investors have provided support through continued buying. This divergence has been an important factor behind recent market volatility.

The latest gains offer some encouragement, but the recovery remains fragile. Investors will watch quarterly business updates, crude oil movements, foreign fund flows and the RBI’s policy stance for clearer signals.

Tuesday’s rally shows that buyers are willing to return when valuations and company-specific developments appear attractive. Whether the momentum can be sustained, however, will depend on improving global conditions and stronger confidence in India’s near-term market outlook.

 

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Corporate

Sensex rises 470 points, Nifty reclaims 22,550

Indian benchmark indices staged a strong recovery on Monday, where the Sensex gained 472.77 points, or 0.66%, to close at 72,382.47, while the Nifty 50 advanced 133.80 points, or 0.60%, to settle at 22,555.75. The Sensex had climbed more than 700 points during the session, while the Nifty moved above the 22,500 mark before giving up some gains.

The recovery offered some relief after a difficult stretch for Indian equities. Both benchmarks had ended the previous week with their eighth consecutive weekly decline, marking their longest losing run in 25 years. Monday’s gains suggested that investors were willing to return to beaten-down stocks, although concerns around foreign fund outflows, elevated crude prices and global interest rates continued to keep sentiment cautious.

ITC was the standout gainer, rising around 5% and providing strong support to the Nifty. BSE gained more than 4%, while Tata Motors Passenger Vehicles advanced over 3%. Shriram Finance and Bajaj Finance were among the other notable gainers, rising around 2.8% and 2.3%, respectively.

Several major companies also contributed to the market’s recovery. Eternal, Bharti Airtel, Adani Ports, ICICI Bank, Reliance Industries and Larsen & Toubro were among the stocks that supported the benchmarks.

The broader market also participated in the rally. The Nifty Midcap 100 gained around 0.67%, reflecting buying interest beyond the large-cap segment. The recovery across several sectors suggested that Monday’s gains were not limited to a handful of heavyweight stocks.

The top losers, however, showed that the recovery remained uneven. HCL Technologies fell around 3.3%, emerging as the weakest performer among Nifty 50 stocks. HDFC Bank declined about 2.3%, while Asian Paints, Hero MotoCorp and Apollo Hospitals also ended lower. Infosys was another notable laggard.

HDFC Bank’s weakness stood out because of the stock’s significant weight in the benchmark. The private-sector lender initially showed strength but reversed course later in the session, eventually ending sharply lower. The movement highlighted the volatility surrounding large financial stocks.

Global cues provided an important lift to Indian markets. Asian equities traded higher as investors assessed expectations around US monetary policy following weaker-than-expected employment data. Softer labour market conditions reduced some pressure on the US Federal Reserve to maintain an aggressive interest-rate stance.

Crude oil prices also eased, offering some relief to oil-importing economies such as India. However, crude remained elevated, keeping concerns over inflation, the current account deficit and the country’s import bill alive.

Financial stocks also attracted buying interest after several lenders reported healthy business updates for the September quarter. Punjab National Bank gained after reporting strong growth in global advances, while Bank of Baroda also advanced following an increase in quarterly advances. Bajaj Finance gained after reporting growth in new loans booked during the quarter.

Sectoral performance was largely positive. FMCG, consumer durables, media, infrastructure, oil and gas, PSU banks, telecom and realty stocks ended higher. The Nifty Bank and financial services indices also gained, while the PSU Bank index recorded a stronger rise. Pharma was among the sectors that remained under pressure.

Despite Monday’s rebound, investors remain cautious about the sustainability of the recovery. Foreign institutional investors have continued to sell Indian equities, while domestic institutional investors have helped absorb some of the selling pressure.

The rupee also remained under pressure, while elevated US Treasury yields continued to influence global risk sentiment. Gold prices remained firm as investors balanced concerns over inflation, geopolitical uncertainty and interest-rate expectations.

Monday’s rally therefore provides a much-needed pause after weeks of selling, but it does not yet signal a decisive change in the broader market trend. The Sensex and Nifty remain significantly below their recent highs, leaving investors focused on whether buying interest can continue in the coming sessions.

The next few trading days will be important as investors track corporate earnings, FII flows, crude oil prices, the rupee and global central-bank signals. A sustained improvement in these factors could help the market build on Monday’s gains.

The session has given investors some breathing room after a prolonged decline. Whether it marks the beginning of a broader recovery or simply a temporary rebound will depend on how markets respond to the economic and corporate signals emerging in the days ahead.

 

Categories
Corporate

Sensex jumps over 600 points, Nifty rises above 22,600

The Indian stock markets began the new week on a stronger note, with the Sensex jumping more than 600 points and the Nifty 50 moving above 22,600 in early trade on Monday. The rebound brought some relief to investors after both benchmark indices recorded their eighth consecutive weekly decline, marking their longest losing streak in 25 years.

The recovery was led mainly by banking and financial stocks. Bajaj Finance emerged as one of the biggest gainers, rising more than 4% after reporting an 11% year-on-year increase in new loans during the September quarter. The strong business update helped revive interest in financial stocks after weeks of heavy selling.

HDFC Bank was another major market driver, with its shares gaining around 1-2% in early trading. The stock remained in focus after the lender appointed Anup Bagchi as its new Managing Director and CEO for a three-year term. Bagchi will take charge after Sashidhar Jagdishan’s tenure ends on October 26.

Public-sector banks also attracted strong buying interest. Punjab National Bank gained nearly 3% after reporting 14.8% growth in global advances during the September quarter. Bank of Baroda rose around 2.5% after reporting an 18% increase in quarterly advances. The numbers suggested continued credit demand despite pressure on the broader market.

The banking rally extended across the sector, with the Nifty PSU Bank index gaining more than 2%. State Bank of India, Axis Bank and other major financial stocks also supported the benchmark indices.

The IT sector also contributed to the recovery, although gains were selective. The Nifty IT index rose around 1% as investors responded positively to Accenture’s better-than-expected revenue growth and strong bookings. The update offered some reassurance about global technology spending ahead of the Indian IT industry’s quarterly earnings season.

However, the rally did not lift every heavyweight. Apollo Hospitals was among the notable Nifty losers, while Infosys and Max Healthcare also traded lower. Avenue Supermarts and TVS Motor were among other stocks facing selling pressure. The mixed performance showed that investors remained selective despite the broader improvement in sentiment.

Global developments provided an additional boost. A decline in crude oil prices eased concerns over India’s import bill and inflation, while weaker-than-expected US jobs data reduced expectations of an immediate aggressive interest-rate move by the US Federal Reserve. Asian markets also largely traded higher, creating a supportive backdrop for Indian equities.

The rebound comes after a difficult stretch for the domestic market. Rising crude prices, elevated global bond yields and sustained foreign institutional investor selling have weighed on Indian equities in recent weeks. The Nifty’s fall below its 200-day moving average had also heightened concerns about the possibility of further losses.

Monday’s recovery has brought the index back towards an important technical zone. Market analysts are closely watching the 22,600-22,800 range as the immediate resistance area, while 22,200 remains an important support level. A sustained move above 22,600 could strengthen the recovery, while a break below 22,200 could bring selling pressure back.

Investors are also watching the Reserve Bank of India’s monetary policy meeting, which began on Monday. The Monetary Policy Committee is scheduled to announce its decision on Wednesday. With crude oil prices, inflation and the rupee remaining key concerns, the RBI’s policy signals could influence market direction in the coming sessions.

The Indian rupee also showed a modest improvement, gaining five paise to around ₹96.20 against the US dollar in early trade. The move offered limited relief after the currency’s recent weakness.

Monday’s rally offered a much-needed pause after weeks of relentless selling for those planning to invest. Bajaj Finance, HDFC Bank and PNB were among the key gainers, while Apollo Hospitals, Infosys and Max Healthcare remained under pressure.

The bigger question now is whether the buying momentum can hold. With the RBI policy decision, quarterly earnings, crude oil prices and foreign fund flows all in focus, volatility is likely to remain elevated. For the moment, however, Dalal Street has regained some confidence after a prolonged period of pressure.