Global Market

The Nifty 50 recovered 83.60 points from its provisional close of 22,516.40, while the Sensex gained back 228.88 points from its provisional closing level of 72,894.95.

South Korean and Japanese equities declined as Wall Street's technology sell-off intensified concerns over AI valuations. Brent crude headed for a third consecutive weekly gain amid fresh attacks on Saudi Arabia, while the yen strengthened to its highest level in more than a month.

An oil rally also weighed on sentiment amid heightened supply fears.

Jakarta is returning to China's panda bond market as MSCI threatens to push it out of emerging markets. The coupon is a fraction of what it pays at home, but a sliding rupiah could wipe out the saving.

The Southeast Asian nation has secured Chinese regulatory clearance to issue as much as 30 billion yuan of panda bonds from 2026 through 2028, a public filing shows. Its July issuance comprised of three-year notes at 1.9% and five-year notes at 2.19%.

Hermes' shares dropped as much as 9% in Paris, the biggest decline since July. Their 41% slump so far this year puts them on track for the worst annual performance since the company listed in 1993.

Stock Market Highlights: Among sectors, Nifty FMCG, Nifty IT, Nifty Media, Nifty Metals, Nifty Auto and Nifty Oil & Gas fell the most, while minor gains were seen in Nifty Pharma and Nifty PSU Bank indices.

The CSI 300 has slid for 10 straight weeks. Fading stimulus hopes, a profit squeeze led by CATL and global AI nerves have left investors heading for the exits.

MSCI's warning last week was explicit in that new rules alone won't be enough to turn the tide.

The gains come after a turbulent period for semiconductor stocks. The Philadelphia Semiconductor Index recently recorded eight consecutive sessions of declines, its longest losing streak in 18 years, and continued to trade near two-month lows.

Stock Market Highlights: Among sectors, heavy losses were seen in Nifty Metals, Nifty Auto, Nifty Realty, Nifty Pharma, Nifty Media and Nifty FMCG indices, while Nifty IT outperformed by jumping 2.88%.

Toward the end of a call about SpaceX results that far exceeded expectations, the CEO initially said he was "tap dancing through a minefield" when asked about the prospect of merging the two companies currently worth a total of almost $3.5 trillion.

The tech-heavy Nasdaq 100 Index ended the day with a slight decline after South Korean neocloud company Elice tanked in its trading debut, spurring concern about the sustainability of the global AI boom.

South Korea's Kospi gained nearly 3%, while Japan's Nikkei 225 advanced 1.4% as strong earnings from artificial intelligence-linked companies revived investor appetite for technology stocks. US equity futures also moved higher, while Brent crude traded near $109 a barrel amid uncertainty over efforts to end the US-Iran war.

For years, Indonesia has benefited from a young workforce, steady economic growth and a reputation for fiscal discipline. Now, that reputation is under pressure.

The bid-to-cover ratio was 5.84, compared with 4.01 at the previous sale, and a 12-month average of 3.73. In reaction, the yield for the tenor fell as much as 6 basis points to 3.710% after the results, while the 30-year yield dropped as much as 5 basis points.

China's Commerce Ministry said the items have been officially classified as "having an obvious military-civil dual-use nature," and that it has notified in advance countries with which Beijing has an export control dialogue.

The MSCI Asia Pacific Index fell 0.6%. Japan's Nikkei 225 declined 1.33%, while the Topix fell 1.07%. South Korea's Kospi plunged 3.51%, while the Kosdaq tanked 4.14%

Policymakers have instead asked state-owned giant Coal India Ltd. to boost output and the railway to help secure timely transport to power stations, they added.

Black Monday, which occurred on Oct 19, 1987, remains a landmark in market history. The Dow Jones Industrial Average plunged 22.6% in a single session, its largest one-day percentage decline.