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Informist, Friday, Oct. 17, 2025                                      Tel +91 (22) 6985-4000

Equity Alert: Mkt seen tad up; India's rejection on Trump's claims may weigh

MUMBAI--0802 IST--Benchmark indices may gain marginally Friday but are likely to face some resistance on the upside given negative global cues. The Ministry of External Affairs Thursday rejected US President Donald Trump's claim of having a conversation with Prime Minister Narendra Modi, in which Modi allegedly assured him that India will stop buying oil from Russia.

"On the question whether there was a conversation or a phone call, as far as I am aware, there has been no communication between Prime Minister Modi and US President Trump Wednesday," Randhir Jaiswal, official spokesperson for the Ministry of External Affairs, said in a briefing Thursday. Trump Wednesday said the Indian prime minister had assured him that India would stop purchasing crude oil from Russia. The US president had in August imposed punitive tariffs on India over its oil purchases from Russia.

The Nifty 50 Thursday settled at 25585.30 points, up 261.75 points or 1%. The BSE Sensex ended at 83467.66 points, up 862.23 points or 1%. At 0803 IST, the GIFT Nifty's October contract was at 25609 points, 24 points higher compared to the Nifty 50's closing level Thursday. The Nifty 50 index may face minor resistance near the 25650–25700 levels, but given the persistent rise in the index in recent sessions, the probability of a breakout beyond this resistance remains elevated, Dhupesh Dhameja, derivatives research analyst at SAMCO Securities, said in a note. As long as the Nifty 50 sustains above the 25300 points, the medium-term outlook remains constructive, he said.

Investors will focus on the earnings of large-cap companies such as Reliance Industries and JSW Steel, due Friday. Other companies that will declare results Friday include Havells India, JSW Energy, REC, AU Small Finance Bank, Bank of India, Dixon Technologies (India), and Hindustan Zinc. The market will also react to the earnings of Wipro and Infosys, which came in post market hours Thursday.

On the global front, indices in the US closed lower Thursday after regional banks flagged concerns about bad loans. The US market continued to be volatile after the US-China trade conflict showed signs of flaring up further. Asian markets also opened lower Friday, tracking losses in US indices.  (Simran Rede)

Equity Alert: Most indices in Asia, except Kospi, fall in early trade Fri

MUMBAI--0800 IST—-Almost all indices in Asia were down in early trade Friday, tracking overnight losses on Wall Street. Benchmark indices in the US ended lower Thursday after shares of regional banks and investment bank Jefferies fell amid signs of bad loans in the country. Trade-related tensions between the US and China further dampened sentiment. Most markets in Asia were headed to close the week lower. South Korea's markets were higher as traders cheered the likely finalisation of a trade deal between the country and the US.

Taiwan's Taiex index fell over 1%. Shares of the world's largest semiconductor chip company, Taiwan Semiconductor Manufacturing, fell more than 2% despite the company's September quarter earnings beating market estimates. The company had released its earnings after Taiwan's market closed Thursday.

China's blue-chip CSI 300 index fell over 1% and Hong Kong's Hang Seng index led the decline in the region, down 1.3%. The Hang Seng index is headed for a near 3% weekly decline. The FTSE Singapore Strait index fell 0.5% and is headed for a weekly loss of over 2% if current levels hold. Singapore's non-oil domestic exports posted a sharp rebound in September, jumping nearly 7% from a year earlier, far higher than expectations of a 2.1% drop by market estimates, and reversing a 11.3% fall in August, a report by CNBC said.

South Korea's Kospi bucked the trend and hit yet another intraday high Friday. The index was up almost 1% and headed for a near 5% weekly gain after the country's markets were buoyed by the US treasury secretary's comments on a trade deal between the US and South Korea. The official said that the trade deal was to be finalised within 10 days, according to media reports.

Following were the levels of key Asian indices at 0800 IST:

(Eshitva Prakash)

Equity Alert: US indices end lower after regional banks flag loan concerns 

MUMBAI--0730 IST--Stock indices in the US closed lower Thursday after regional banks flagged concerns about bad loans. Heavyweight artificial intelligence stocks also declined despite the world's largest chip company giving a bullish outlook on AI-related spending. The US market continued to be volatile after the US-China trade conflict showed signs of flaring up further. The volatility index for the US market jumped to its highest since May and 10-year US Treasury yields fell to settle below 4%, according to a CNBC report.

Shares of Zions Bancorp. declined 13% after the regional bank disclosed an unexpected loss on two loans in its California division, adding to growing investor unease about hidden credit stress as lenders navigate economic uncertainty with interest rates still relatively high, CNBC reported. Shares of Western Alliance fell nearly 11% after the company said it had initiated a fraud lawsuit against one of its borrowers. Uncertainty about commercial lending emerged after the collapse of US auto parts supplier First Brands and car dealership Tricolor in September.

"When you see one cockroach, there are probably more," Jamie Dimon, JPMorgan's chief executive officer was quoted as saying by CNBC, about the collapse of First Brands and Tricolor Holdings. Jefferies Financial Group, which has some exposure to First Brands, fell 10%, and has declined 25% so far in October.

Insurance industry bellwether Travelers Companies' September quarter revenue was below estimates and its stock fell nearly 3%. Insurer Marsh & McLennan posted flat operating margins for the same quarter and growth slowed in the company's risk and insurance business, according to a report by Reuters.

Taiwan Semiconductor Manufacturing, the world's largest manufacturer of advanced semiconductors, gave a bullish outlook for spending on artificial intelligence Thursday, but shares of heavyweight AI-related stocks fell, with Palantir and Meta Platforms down nearly 1% each. Shares of Tesla declined 1.5%. Hewlett Packard Enterprise fell 10% after the technology company's annual profit and revenue forecast came in well below Wall Street's expectations.

Meanwhile, shares of business software seller Salesforce rose 4% after the company estimated revenue of more than $60 billion for 2030, above Wall Street's estimates, Reuters reported. Trucking company JB Hunt's shares jumped 22% after the company reported strong September quarter profits.

Data showed the Philadelphia Fed Business Index for October declined 12.8 points, compared with a rise of 8.5 estimated by economists polled by Reuters. US Federal Reserve Governor Christopher Waller said Thursday that he supported an additional interest rate cut in October due to mixed readings on the state of the job market.

Trade tensions between China and the US resurged recently, adding to volatility in US markets. US President Donald Trump last week threatened to impose an additional 100% tariff on any goods coming from China in response to China's tighter export controls on rare earth minerals. 

Following are the closing levels of US indices Thursday:

(Eshitva Prakash)

End

US$1 = INR 87.82

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Nishant Maher

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

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