Equity Alert
Indices in Europe extend gains; banks up in early trade
This story was originally published at 14:57 IST on 3 October 2025
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Equity Alert: Indices in Europe extend gains; banks up in early trade
MUMBAI--1415 IST--Indices in Europe extended their gains from the previous session, with the pan European Stoxx 600 climbing 0.5% Friday after hitting yet another record high Thursday. Weak payrolls data from private sources such as ADP boosted bets of an interest rate cut by the US Federal Reserve, offsetting concerns relating to a US government shutdown.
Banks led the early gains in European markets. Among eurozone banks, shares of Raiffeisen were up more than 7?ter a Financial Times report said the European Union is looking to lift sanctions on assets linked to Russian oligarch Oleg Deripaska to compensate the Austrian bank. Shares of ABN Amro were up 2.6?ter the brokerage Goldman Sachs upgraded its rating on the Dutch bank to 'buy' from 'sell', according to a Reuters report. Shares of France's Credit Agricole, BNP Paribas, and UK's HSBC gained 1?ch.
The Eurozone September Purchasing Managers' Index was at 51.3, lower than the market estimate of 51.4, but higher than the services PMI in August, which was at 50.5. A reading above 50 indicates an expansion in industrial activity while a reading below that level indicates a contraction.
European leaders met in Copenhagen Thursday to discuss the possibility of building a drone wall to deter Russian aircraft from violating airspace on the continent. On Friday, Munich airport briefly closed after drone sightings brought flights to a halt, Reuters reported. The Stoxx Europe Aerospace and Defense index gained 0.7%, and Italian aerospace company Avio rose 6.3%.
Following were the levels of major European indices at 1415 IST:
| Index | Level | Change in % |
| FTSE 100 Index | 9473.71 | 0.49 |
| CAC 40 | 8078.37 | 0.27 |
| MIB INDEX | 43283.52 | 0.48 |
| DAX PERFORMANCE-INDEX | 24467.91 | 0.19 |
| SLI | 2024.86 | 0.53 |
(Eshitva Prakash)
Equity Alert: Sammaan Capital down on profit sales; analysts bullish on invest
MUMBAI--1410 IST--Shares of Sammaan Capital fell over 6% to an intraday low of INR 159.03. However, the stock came off the low and at 1410 IST was at INR 165.45, down over 2%. The stock had risen nearly 26% over the past six sessions in anticipation of investment in the company, analysts said. Hence, investors likely took profits Friday, they said.
Wednesday, the stock was added to the NSE's list of stocks banned for futures and options trading after it reached its marketwide position limit, a technical analyst at a domestic broking firm said. "In the case of an F&O ban, we cannot add fresh positions in the same direction. We are only allowed to reduce the open interest, means either square off or hedge on the opposite side," he said.
Abu Dhabi-based Avenir Investment RSC will invest INR 88.50 billion in Sammaan Capital, the company said late Thursday. The non-banking finance company approved preferential allotment of equity shares and warrants to Abu Dhabi-based global investment company International Holding Co.'s affiliate Avenir Investment. Avenir Investment will buy fully paid-up equity shares of Sammaan Capital, with a face value of INR 2, at INR 139 per share, which implies a discount of over 18% to the stock's close Wednesday.
This investment will reduce the cost of funds of Sammaan Capital by around 1.5%, Raj Gaikar, research analyst at Samco Securities, said. He sees the profit margin of the company rising following this investment. "The company is currently fairly valued and in the past some quarters, it has posted moderate to decent growth," he said. Gaikar expects the company to use these funds for expansion, which is seen as bullish for the company's growth. Following the fund infusion, "(the company) will be in a position to lend aggressively as their net and gross NPAs (non-performing assets) are at a lower level. The current level of the company's gross NPA is around 1.5% and net NPA is around 0.8%," he said.
Global brokerage JP Morgan expects a ratings upside for Sammaan Capital upon the closure of this transaction. "This is mainly because a key overhang on Sammaan Capital has been weak funding access, which in turn has constrained the business growth," the broking firm said. On the back of these factors, foreign brokerage S&P Global has rated the company at "b+ SACP" compared to "bb+" anchor ratings, JP Morgan said. "We would therefore expect a benefit of 2-3 notches uplist if the transaction does materialise," it said.
The stock was among the worst performers in the Nifty 500 index earlier in the day. So far Friday, 85.83 million shares of the company have changed hands on the NSE, higher than 59.95 shares traded during the same period Wednesday. (Simran Rede)
Equity Alert: Most markets in Asia close higher; Japan leadership vote eyed
MUMBAI--1350 IST--Most indices in Asia closed the week on a positive note Friday. Markets in Japan rose ahead of a crucial vote to determine the next head of the ruling Liberal Democratic Party. Technology stocks advanced in the country's markets and were led by gains in Hitachi, which rose after the company's deal with OpenAI. Further, a weaker-than-expected US private jobs data boosted bets for an interest rate cut by the US Federal Reserve in October. Markets in mainland China and South Korea were closed for holidays.
The Liberal Democratic Party vote will be closely monitored by traders as it may confirm the country's next prime minister. "While the Liberal Democratic Party has ruled Japan almost continuously for the last 30 years, it's now in a precarious position as it prepares to vote for a new party leader on Saturday--mired in scandal, widely unpopular, and abandoned by long-time supporters who have instead flocked to new right-wing parties," a report by CNN said.
Japan's Nikkei 225 closed almost 2% higher, extending gains for the second session in a row. Shares of Hitachi rose more than 10?ter the company late Thursday said it was partnering with OpenAI to build artificial-intelligence infrastructure and data centres globally. Other technology stocks in Japan, such as Renesas, Sony, and Advantest closed 2.5-7.0% higher. Bank of Japan Governor Kazuo Ueda reiterated the bank's long-held stance on interest rates and avoided clear signals about a rate hike. "If the baseline scenario for economic activity and prices outlined so far is realised, the bank, in accordance with improvement in economic activity and prices, will continue to raise the policy interest rate," Ueda was quoted as saying by Bloomberg.
The S&P Global Japan services purchasing managers' index rose to 53.3 in September from 53.1 in August, while the country's unemployment rate rose to 2.6% in August, higher than the 2.4% expected by economists polled by Reuters and the 2.3% rate in the prior month.
Traders relied on private data to gauge the US Federal Reserve monetary policy going forward after the US government shutdown resulted in a delay in September nonfarms payroll data and weekly unemployment numbers.
Following were the levels of key Asian indices at 1328 IST:
|
Index |
Level |
Change in % |
|
Hang Seng Index |
27102.12 |
(-)0.68 |
|
Nikkei 225 Day |
45769.50 |
1.85 |
|
TOPIX FIRST SECTION |
3129.17 |
1.35 |
|
FTSE Singapore Strait Times |
4414.18 |
0.43 |
|
S&P/ASX 200 Index |
8987.40 |
0.46 |
(Eshitva Prakash)
Equity Alert: Aegis Logistics rises 20% to over 4-mo high amid high volumes
MUMBAI--1340 IST--Shares of Aegis Logistics rose around 20% to INR 944.60, their highest level in over four months amid a spike in trading volumes. At 1321 IST, the stock was up over 11% and was among the top gainers in the Nifty 500 index. So far, 8.95 million shares of the company have changed hands on the NSE, over 10 times the 876,446 shares traded Wednesday and over 14 times the three-month daily average volume of 611,498 shares.
The stock was up for the third straight session and had gained nearly 28% in the period. So far this year, the stock has risen 15% compared to the 0.4% rise in the Nifty Energy index, of which the company is a constituent, and a 4-5% rise in the benchmark Nifty 50 and Sensex. Currently, there are no research reports on the company available with Informist. (Arya S. Biju)
Equity Alert: Metal stocks up; proposed EU tariffs may not hit steel cos much
MUMBAI--1305 IST--Shares of metal companies rose on Friday, with Tata Steel and Hindalco Industries up 2-4%, as analysts say proposed tariff hikes by the European Union on steel imports will not have much of an impact on major steel companies, including Tata Steel and JSW Steel. Earlier, media reports had said the European Union plans to hike tariffs on steel imports to 50% and cap the volume of steel that can be imported to the bloc before the higher rate comes into effect.
Earlier in the day, the Nifty Metal index rose 2.5% to a high of 10346.95 points and was the top gainer among sectoral indices. At 1333 IST, the index was at 10295 points, up 202.05 points or 2%. All the index constituents, except for Adani Enterprises, traded higher. Lloyd Metals and Energy surged nearly 7%, the highest gains in the sectoral index.
Such stringent import quota and higher tariffs being considered will have a structural impact on Indian steel exports, given Europe has been a lucrative market and accounted for 50% of India steel exports during Apr-Aug, ICICI Research said in a report earlier in the day. "However, the major steel companies such as JSW Steel, Jindal Steel, Tata Steel, and SAIL (Steel Authority of India) are currently having less than 8% of share of exports in their product portfolio," ICICI Direct said. Thus, the impact is likely to be minimal for these companies, it added. Tata Steel has 7 million tonnes per annum of production capacity in the Netherlands, which accounts for 25% of the company's consolidated revenue, it said.
Earlier in the day, Moody's Ratings changed the rating outlook on JSW Steel to 'positive' from 'stable' and affirmed the 'Ba1' senior unsecured rating "The outlook change to positive reflects JSW Steel's meaningful expansion in operating scale...," Hui Ting Sim, assistant vice-president and analyst at Moody's Ratings, said in a press release. Moody's sees steel demand in India growing at a compounded annual rate of 5-7% by 2030, driven by infrastructure spending, construction projects, and expansion in industrial production. Shares of JSW Steel were at INR 1,160.60, up 1.3%. (Gopika Balasubramanium)
Equity Alert: Jinkushal Ind lists at INR 125, over 3% premium to issue price
MUMBAI--1054 IST--Jinkushal Industries listed at INR 125 on the NSE, at over 3% premium to the issue price of INR 121. At 1054 IST, shares of the company traded 1.9% lower from its issue price at INR 118.75. Around 2.6 million shares of the company have been traded on the NSE so far.
The initial public offering of the company, which ended Monday, was subscribed over 65 times as on the final day. The company received bids for a total of 437.57 million shares against 6.72 million shares reserved on offer, as per data on BSE website. The company raised INR 348.30 million from anchor investors.
Jinkushal Industries specialises in exporting construction equipment such as hydraulic excavators, motor graders, and backhoe loaders. These are classified under segments--new and modified, used or refurbished, and sold under the brand 'HexL'. For 2024-25 (Apr-Mar), the company had reported a consolidated net profit of INR 182.91 million on revenue of INR 3.81 billion. (Durva A. Shivalkar)
Equity Alert: TruAlt Bioenergy lists at a 10% premium to the issue price
MUMBAI--1036 IST--TruAlt Bioenergy Ltd. listed at INR 545.40 on the NSE, a 10% premium to the issue price of INR 496. At 1028 IST, shares of the company traded 8.3% higher at INR 537.15. Over 7.3 million shares of the company have changed hands so far.
The company's initial public offering was subscribed nearly 72 times at the end of its final day. Investors bid for 889 million shares out of a total of 12.36 million shares on offer, according to data from BSE's website. Qualified institutional buyers subscribed to the issue over 159 times, bidding for 558.93 million shares against the 3.51 million shares offered.
TruAlt Bioenergy is a Bengaluru-based biofuel producer specialising in ethanol. The company had reported a consolidated net profit of INR 1.47 billion in 2024-25 (Apr-Mar) on revenue of INR 19.08 billion. (Eshitva Prakash)
Equity Alert: Indices open lower, dragged down by fincl svcs, FMCG stocks
MUMBAI--0935 IST--Benchmark equity indices opened lower Friday, weighed down by losses in financial services and fast-moving consumer goods stocks. Analysts had expected indices to extend gains from Wednesday on improved sentiment in the banking sector after the Reserve Bank of India announced steps to improve lending for banks. The domestic equity market was shut Thursday on account of Gandhi Jayanti and Dusshera.
At 0922 IST, the Nifty 50 was at 24788.65 points, down 47.65 points or 0.2%. Weakness in index heavyweights HDFC Bank, ICICI Bank, and Reliance Industries capped gains in the index. The BSE Sensex was at 80847.83 points, down 135.48 points or 0.2%. On Wednesday, the 50-stock index had snapped eight straight sessions of decline.
Broader market indices fared better than the headline indices. Small-cap indices outpeformed mid-cap indices. The Nifty Smallcap 250 was up 0.3% and the Nifty Midcap 150 was up 0.2%.
Among sectoral indices, Nifty FMCG fell the most. Godrej Consumer Products, Hindustan Unilever, and Nestle India were down nearly 1?ch. Brokerages have put out ther previews on the sector for the September quarter and have said that the issues involved in transition to the revised goods and services tax regime are seen hitting volumes for these companies. Others such as ITC and Dabur India were 0.7% lower.
Automobile stocks also fell. Eicher Motors was down over 2% and was the worst hit among the Nifty 50 constituents. Its shares fell despite the company reporting robust wholesale sales growth for the month. Others such as Maruti Suzuki India and Bajaj Auto also fell 0.7-1.0%.
Meanwhile, metal stocks saw buying interest from investors. Tata Steel was up 3% and it was the top gainer of the Nifty 50 index. Reports said the European Union proposed to reduce steel import quotas by 50% and increasing duties on import volumes above those levels to 50%, which are expected to be unveiled on Tuesday. ICICI Direct said the impact from this move is likely to be minimal for Tata Steel and Steel Authority of India as they have less than 8% share of exports. "Moreover, Tata Steel will be beneficiary given it has a 7 MTPA (million tonnes per annum) production capacity in Netherlands, which accounts for 25% of the consolidated revenue of the company," the broking firm said. (Gopika Balasubramanium)
Equity Alert: Most Asian indices rise; shares of Hitachi up on OpenAI deal
MUMBAI--0830 IST--Most indices in Asia were up in early trade Friday, tracking overnight gains in the US market. Japan's benchmark indices were up, led by gains in Hitachi after the company said it will collaborate with OpenAI to build artificial-intelligence infrastructure, according to media reports. Markets in Hong Kong were down as traders booked profits after the index was on its way to post biggest weekly gains since March, according to a report by the South China Morning Post.
Markets in China were closed due to the National Day Golden Week holiday. The exchanges will be closed till Oct. 8. The South Korea market was closed for the National Foundation Day holiday.
Japan's Nikkei 225 index was up 1.6%, led by gains in Japanese conglomerate Hitachi, which rose nearly 8%. The company, late Thursday, announced a partnership with OpenAI to build artificial-intelligence infrastructure and data centres globally. The broader Topix index was up 1.01%. Japan's unemployment rate rose to 2.6% in August, according to government data released on Friday, higher than the 2.4% expected by economists polled by Reuters and the 2.3% rate in July.
The S&P Global Japan services purchasing managers' index rose to 53.3 in September from 53.1 in August, driven by stronger domestic demand amid falling new export business. "While services companies recorded another month of solid growth, manufacturers reported a steeper decline in output amid weak sales. As a result, the private sector as a whole expanded at the slowest rate since May," Annabel Fiddes, economics associate, director S&P Global Market Intelligence, was quoted by CNBC as saying.
Hong Kong's Hang Seng index was 0.7% lower. Shares of technology-giant Baidu fell 2.8% and short-video platform Kuaishou Technology was down 3%. Electric-vehicle maker Li Auto was down almost 2% and its peer BYD's Hong Kong listed shares lost nearly 5%. Zijin Gold International shares were up over 1?ter they had surged almost 69% following its Hong Kong debut Tuesday.
Traders relied on data from private companies to gauge US jobs environment and to provide cues on US Federal Reserve policy going forward. The US Treasury Secretary Scott Bessent said Thursday that government closure could result in a fall in US' gross domestic product. "This isn't the way to have a discussion, shutting down the government and lowering the GDP... we could see a hit to the GDP, a hit to growth and a hit to working America," Bessent was quoted by CNBC, as saying.
Following were the levels of key Asian indices at 0830 IST:
|
Index |
Level |
Change in % |
|
Hang Seng Index |
27075.32 |
(-)0.78 |
|
Nikkei 225 Day |
45584.54 |
1.44 |
|
TOPIX FIRST SECTION |
3125.08 |
1.22 |
|
FTSE Singapore Strait Times |
4389.56 |
(-)0.13 |
|
S&P/ASX 200 Index |
8979.30 |
0.37 |
(Eshitva Prakash)
Equity Alert: RBI measures to aid corporate credit growth, says Emkay Global
MUMBAI--0825 IST--The Reserve Bank of India's measures to widen banks' scope for lending may help arrest the "slow decline in wholesale growth", Emkay Global Financial Services said in a strategy report. However, the brokerage does not feel these measure would lead to a sharp rise in corporate lending.
The brokerage expects wholesale or corporate loan growth to improve slightly to 10% in 2026-27 (Apr-Mar) from 8-9% expected growth in FY26, it said in a separate report on the banking sector. At the same time, it expects a strong recovery in retail lending, which may push the overall credit growth to 13.3% in FY27 from 11% expected in FY26.
The RBI Wednesday allowed banks to finance acquisitions, eased limits for lending by banks against shares and for initial public offer financing, and reduced the risk weights for lending to non-banking financial companies for high quality infrastructure projects. It also removed large exposure framework for banks which was introduced in 2016.
"These measures should aid a recovery in corporate lending by banks, and address some of the disintermediation challenges," Emkay Global said in its note. "Banks will need to change their mindset though, on account of risk appetite in corporate lending."
Emkay Global said public sector banks would be quicker at benefiting from these changes, while private banks make some time to adjust. The Nifty Bank had risen over 1% Wednesday after RBI announced these measures.
On retail lending, Emkay Global said such loans are likely to rise as demand improves after the cut in goods and services tax rates on several products. However, the brokerage advised to play this theme through consumer discretionary such as automobile companies.
"The credit revival is a big incremental positive for lenders, though it may not translate into stock performance. First, banks will see margin pressures due to fundamental asset-liability mismatches. Second, the growth recovery will be limited by the banks' own risk-aversion and will not resolve the fundamental growth-valuation mismatch," the brokerage said. (Anshul Choudhary)
Equity Alert: Indices may open tad up on hopes of better credit growth
MUMBAI--0758 IST--Benchmark indices are likely to open higher on hopes of better credit growth going forward after the Reserve Bank of India expanded banks' scope for lending Wednesday. Equity markets will open for trading Friday after being shut Thursday on account of Mahatma Gandhi Jayanti and Dussehra.
GIFT Nifty contracts suggest the Nifty 50 is likely to gain further amid slightly positive global cues. However, it is still expected to face resistance around 25000 points as market participants await for more clear demand trends during the festival season.
At 0725 IST, GIFT Nifty October contracts were at 24949.50 points, marginally higher than its previous close and up 0.5% from the Nifty 50's close on Wednesday. Before the Gandhi Jayanti holiday, the Nifty 50 had closed at 24836.30 points.
The index had gained nearly 1% Wednesday after the Reserve Bank of India announced a slew of measures related to banks. The RBI allowed banks to finance acquisitions, eased limits on lending by banks against shares and for initial public offer financing, and reduced the risk weights for lending to non-banking financial companies for high-quality infrastructure projects.
"These measures should aid a recovery in corporate lending by banks, and address some of the disintermediation challenges," Emkay Global Financial Services said in a note. This is likely to arrest the "slow decline in wholesale growth, it said. Emkay Global said public sector banks would be quicker at benefiting from these changes, while private banks take some time to adjust. The Nifty Bank index had gained 1% on Wednesday.
Among global cues, US markets continue to gain after Wednesday's private payrolls report fuelled rate cut hopes. The ADP National Employment Report showed private payrolls decreased by 32,000 in September, the biggest drop since March 2023, Reuters reported. This was a surprise as economists had forecast private employment increasing by 50,000 jobs.
Most Asian indices were higher in early tradae Friday, with markets in Japan, Taiwan, and Australia up 0.5-1.5%. Hong Kong's Hang Seng was down 0.6%. Indices in China and South Korea were shut. (Anshul Choudhary)
Equity Alert: Indices in the US post record highs as technology stocks gain
MUMBAI--0730 IST--Benchmark indices in the US closed at their highest levels Thursday, buoyed by gains in technology stocks after traders shrugged off concerns around the ongoing US government shutdown. Traders focussed on weaker-than-expected private sector jobs data from payroll company ADP and other private sources after key economic data from the US labour department was delayed, owing to the first government shutdown in seven years. Lacklustre jobs data from private sources shored up bets for an interest rate cut by the US Federal Reserve in its October meeting.
The technology-heavy Nasdaq Composite index rose 0.4%, the S&P 500 was marginally up and the Dow Jones Industrial Average advanced 0.2%. The three indices were up for the fifth consecutive session. Shares of technology companies such as Nvidia, Broadcom, Apple, and Advanced Micro Devices rose 0.6-3.5%. Shares of chip giant Nvidia posted a record high Thursday.
US private-sector businesses lost 32,000 jobs in September, CNN Business said in a report, citing data from ADP report Wednesday. The previously estimated 54,000 payroll gains for August were downwardly revised to a decline of 3,000, CNN Business reported. US Treasury Secretary Scott Bessent said Thursday that US economic growth could be hurt by the government shutdown. Traders are factoring in a 97% probability of an interest rate cut of 25-basis points by the US Fed this month, up from 85.5% a week ago, according to the CME Fedwatch tool.
Among others, shares of Tesla fell over 5% after the electric vehicle maker gave up gains from earlier in the session after a strong quarterly deliveries report. Analysts flagged risks to sales in upcoming quarters due to the withdrawal of the $7,500 federal tax credit, a report by Reuters said. Shares of credit bureaus Equifax and TransUnion fell 8.5% and 10.6%, respectively, after Fair Isaac Corp. launched a program that could allow mortgage lenders to gain access to credit scores without relying on the bureaus, according to a Reuters report. Fair Isaac's shares jumped nearly 18%. Shares of Occidental Petroleum fell more than 7?ter the company said it would sell its petrochemical division to Berkshire Hathaway for $9.7 billion.
Following are the closing levels of US indices Thursday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6715.35 |
0.06 |
|
NASDAQ Composite |
22844.05 |
0.39 |
|
Dow Jones Industrial Average |
46519.72 |
0.17 |
(Eshitva Prakash)
End
US$1 = INR 88.77
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Tanima Banerjee
All prices from National Stock Exchange, unless otherwise specified.
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