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Bite-sized market moves, explained simply.
The National Stock Exchange has received SEBI's no-objection certificate to introduce futures contracts linked to a corporate bond index. The proposed product is expected to provide another avenue for investors to manage exposure to the corporate bond market, subject to the required regulatory approvals.
Kotak Mahindra Bank shares gained around 3% after the bank appointed Anup Kumar Saha as its new CEO for a three-year term. The appointment has brought the private-sector lender into focus as investors assess its future growth strategy and business priorities.
Auto stocks came under pressure on October 1 following weaker domestic sales numbers. The Nifty Auto index declined sharply, while stocks including Bajaj Auto and Mahindra & Mahindra witnessed selling. Investors are now watching upcoming monthly sales data and festive-season demand to assess the outlook for India's automobile sector.
Indian IT stocks showed relative strength in Thursday's session, with the Nifty IT index gaining around 0.9% in early trade. Investors are tracking US inflation data and expectations around interest rates. However, concerns related to cautious client spending and AI-driven changes in the technology-services industry remain important ahead of the September-quarter earnings season.
Foreign institutional investors continued their selling streak in Indian equities, keeping market sentiment cautious. Investors are closely watching foreign flows, crude oil prices, currency movements, and global interest rates. Domestic institutional buying has provided some support, but sustained FII outflows remain a key factor influencing market direction.
Indian equity benchmarks opened lower on October 1, with the Nifty 50 and Sensex under pressure. Continued foreign investor selling, elevated crude oil prices and weakness in the rupee remained key concerns for investors. FIIs sold around $1.06 billion of Indian equities in the previous session, adding to recent market pressure.
