Today’s share market’s key developments include: BLS International faces a two-year tender ban from the foreign ministry, Lupin gets one USFDA observation, CAMS plans a 1:5 stock split, HCC wins a ₹204 crore Hindalco contract, Zaggle launches a forex card, and FIIs, DIIs remain net buyers.
9:40 AM IST
Stock Market LIVE Update | Sensex slips over 200 points | Nifty trades below 25,250
The Sensex slipped over 200 points, while the Nifty traded below 25,250 amid mixed stock movements. DSJ Keep Learning, C.E. Info Systems, and Avanti Feeds led early gains, while Redington, EFC (India), and Tata Communications declined. Hong Kong shares dropped over 3% after the US threatened higher tariffs on China, sparking global market tension. Gold and silver surged to record highs as investors sought safety. BLS International plunged 18% after being barred from tenders by India’s foreign ministry.
9:20 AM IST
Stock Market LIVE Update | Sensex slips over 250 points | Nifty trades below 25,200
Equity indices opened lower on Monday, with the Sensex down over 250 points and Nifty below 25,200. The rupee weakened by 5 paise to 88.77 against the US dollar in early trade. Rural India drove nearly 80% of NBFCs’ microfinance growth in FY25, marking the highest share since RBI regulation began. Meanwhile, banks’ entry into M&A financing may pressure DCM bankers’ fee income. Focus stocks include Tata Motors, Avenue Supermarts, Infosys, and Tata Capital ahead of its IPO debut.
Source: Bajaj Broking Research Desk.
GIFT NIFTY: Gift Nifty suggests a negative opening for the Indian market. Nifty spot in today's session likely to extend previous session consolidation in the range of 25,000-25,450.
INDIA VIX: 10.10 | -0.017 (0.17%) ↓ today
Treasury Yield:
The benchmark U.S. 10-year Treasury yield declined to its lowest level in over a month, dropping 9.1 basis points to 4.057%. Meanwhile, the two-year yield, which generally reflects interest rate expectations, fell 7.5 basis points to 3.512%.
Currency:
The dollar index is placed at 98.95 levels.
Commodities:
Spot gold is 0.5% higher at $4,038.36/oz.
Brent crude futures advanced by 87 cents, or 1.39%, to $63.60 per barrel, while U.S. West Texas Intermediate (WTI) crude climbed 87 cents, or 1.48%, to $59.77 per barrel.
General Trends:
Asia-Pacific markets fell on Monday, as investors kept an eye out for any fallout from the renewed China-U.S. trade tensions. China on Sunday said "we are not afraid of" a trade war with the United States after President Donald Trump vowed to impose punishing new retaliatory tariffs on Chinese imports.
Sector-Specific Indicator:
Australia's ASX/S&P 200 lost 0.68%. South Korea's Kospi plunged 2.35%, and the small-cap Kosdaq declined 2.24%.
Japan markets were closed for a holiday.
Hong Kong markets were set to open lower.
Market in the Previous Session:
Indian equity benchmarks extended their uptrend for the second straight session on October 10, with the Nifty crossing the 25,300 mark intraday — its highest level since September 19th.
After a muted start, the market maintained a positive bias through the session, enabling the Nifty to reclaim the 25,300 level, driven by broad-based buying across sectors, except metals.
At close, the Sensex was up 328.72 points or 0.40 percent at 82,500.82, and the Nifty was up 103.55 points or 0.41 percent at 25,285.35. On a weekly basis, both the BSE Sensex and Nifty posted gains of 1.5 percent each.
The broader markets moved in tandem with the benchmarks, as the Midcap index advanced 0.46%, while the Small-cap index added 0.74%.
All sectoral indices, except metals, ended in the green. Realty, healthcare, PSU Bank, pharma, and consumer durables indices outperformed, registering gains of over 1.5 percent each, while FMCG, auto, and banking indices advanced between 0.4 and 0.8 percent.
Nifty Short-Term Outlook:
On the daily chart, the index formed a bullish candle with a higher high and higher low for the second straight session, indicating a positive bias.
U.S. markets slipped on Friday as trade tensions between the U.S. and China resurfaced. The Nifty has already gained around 700 points over the past two weeks, pushing daily stochastic indicators into overbought territory, suggesting that some consolidation cannot be ruled out in the near term.
Overall sentiment remains positive, and we believe any dips can be used as buying opportunities. Immediate support is seen around the 25,000–25,100 zone, which aligns with the previous swing low and the 20-day and 50-day EMAs.
On the upside, resistance is placed near 25,450 — the upper band of the three-month triangular consolidation pattern.
Intraday Levels:
Nifty: Intraday resistance is at 25,330, followed by 25,450 levels. Conversely, downside support is located at 25,140, followed by 25,050.
Bank Nifty: Intraday resistance is positioned at 56,760, followed by 57,000, while downside support is found at 56,210, followed by 56,000.
Nifty:
Significant Put Open Interest (OI) is observed at the 25,200 and 25,000 strikes, indicating strong support zones for the index. On the other hand, major Call OI is concentrated at the 26,000 and 25,500 levels, which are likely to act as resistance zones.
The dominance of Put writers suggests multiple layers of support on the downside; however, a decisive break below 25,200 could trigger fresh selling pressure. Based on the current option chain setup, the immediate decisive range for Nifty is seen between 25,200 – 25,500 levels.
The Put–Call Ratio (PCR) has improved by 0.26, standing at 1.32, indicating a bullish bias supported by aggressive Put writing.
Bank Nifty:
Bank Nifty, the highest Call OI is seen at the 57,000 strike, which will act as an immediate resistance level. A breakout above this zone could trigger short covering.
On the downside, major Put OI is placed at 55,000, with immediate support emerging at 56,000. Fresh Put writing at the 57,000 strike highlights traders’ confidence in a continued upside move.
The immediate trading range for Bank Nifty is projected between 56,500 – 57,000 levels, and a breakout on either side may lead to a strong directional move.
The PCR for Bank Nifty has risen by 0.06, now standing at 1.14, reflecting a slight improvement in bullish sentiment.
Performance Overview:
Wall Street slumped on Friday after U.S. President Donald Trump escalated his trade conflict with China following Beijing's tightening of rare earth restrictions.
Late on Friday after Wall Street's official trading session, Trump announced he would impose an additional 100% tariff on imports from China and implement export controls on critical U.S.-made software, sending Big Tech shares tumbling.
Sector-specific indicator:
Nvidia, Tesla, Amazon and Advanced Micro Devices all fell more than 2% after the bell.
But on Sunday, Trump hinted to investors that he might not move ahead with his earlier threat to impose a “massive increase in tariffs” on China. U.S. index futures rebounded from last week’s sharp declines after President Donald Trump adopted a more reassuring stance on trade relations with China, with all 3 major indices up by 1-2% each.
Trump's erratic trade policies have rattled markets since his April 2 "Liberation Day" tariff announcement, with on-again, off-again trade negotiations, causing turbulence across asset classes.
The Dow Jones Industrial Average fell 878.82 points, or 1.90%, to 45,479.60, the S&P 500 lost 182.60 points, or 2.71%, to 6,552.51 and the Nasdaq Composite lost 820.20 points, or 3.56%, to 22,204.43.
Economic indicator:
In the absence of official data, investors look to the U.S. Federal Reserve for clues regarding near-term interest rate cuts.
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